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Fr DIVISION OF RECLAMATION, MINING AND SAFETY <br />Department of Natural Resources <br />1313 Sherman St., Room 215 <br />Denver, Colorado 80203 <br />Phone: (303) 866 -3567 <br />FAX: (303) 832 -8106 <br />'4ugust 10, 2011 <br />Martin Bauer <br />Jubilee Venture, L.L.C. <br />19754 East Euclid Drive <br />Centennial, CO <br />80016 <br />Dear Mr. Bauer: <br />STATE OF COLORADO <br />RECEPV W <br />AUG 182011 <br />Division of Keciamation, <br />Mining and Safety <br />COLORADO <br />D I V I S I O N O F <br />RECLAMATION <br />MINING <br />SA ETY <br />John W. Hickenlooper <br />Governor <br />Mike King <br />Executive Director <br />Loretta E. Pifieda <br />Director <br />RE: Eagle Mine, File No.M -2011 -029, Hard Rock/Metal Mining Regular (112) Operation Reclamation <br />Permit Application Approval — Financial and Performance Warranty Request <br />On August 10, 2011, the Division of Reclamation, Mining and Safety (Division) approved the above noted <br />permit application. <br />The amount of financial warranty set by the Division for this operation is an amount of ($33, 726.00). A <br />financial warranty of the entire amount, as well as a performance warranty, must be submitted to the Division <br />before a Reclamation Permit may be issued. <br />Please make arrangements with Barbara Coria at the Division of Reclamation, Mining and Safety Denver <br />Office, phone no. 303.866.3567, ext. 8148 for submittal of the Financial Warranty. <br />PLEASE NOTE THAT MINING OPERATIONS MAY NOT COMMENCE UNTIL A PERMIT HAS <br />BEEN ISSUED BY THE DIVISION AFTER RECEIPT OF THE FINANCIAL WARRANTY AND <br />PERFORMANCE WARRANTY. A PERMIT WILL NOT BE ISSUED UNTIL THE ADEQUACY OF <br />BOTH THE FINANCIAL WARRANTY AND PERFORMANCE WARRANTY ARE VERIFIED BY THE <br />DIVISION. <br />Office of Office of <br />Mined Land Reclamation <br />Denver • Grand )unction • Durango Active and Inactive Mines <br />