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LOS -..R N DE <br />SILVER,, INC. <br />SPIAjunik Silver M%in.%tn.gJo%tntt Vewture <br />October 24th, 2010 <br />State of Colorado <br />Department of Natural Resources <br />Division of Reclamation and Mining Safety <br />1313 Sherman St., Room 215 <br />Denver, CO 80203 <br />Attn: Mary Rodriguez <br />RE: 2011 Annual Report for Bulldog Mine Operation, Permit No. M- 1977 -215 <br />Dear Ms. Rodriguez, <br />This annual report for the Bulldog Mine Operation, Permit No. M- 1977 -215 is <br />being submitted to the Division of Reclamation, Mining and Safety by Rio Grande <br />Silver, Inc. on behalf of Emerald Mining & Leasing, LLC. Emerald Mining & Leasing <br />entered into a joint venture agreement with Rio Grande Silver, Inc. in 2008. <br />New Disturbance <br />Rio Grande Silver, Inc. submitted three new Technical Revisions to Colorado <br />Department of Reclamation, Mining and Safety for the Bulldog Mine M- 1977 -215 <br />Permit in 2011 and all three were approved. <br />➢ TR -16 Temporary Monitoring Well into the Bulldog Adit <br />Approved 7 -26 -2011 <br />➢ TR -17 Temporary Lined Holding Ponds (Pond #1, Pond #2) <br />Approved 9 -21 -2011 <br />➢ TR -18 Bulldog 9400 Level Portal and Surface Infrastructure <br />Approved 10 -17 -2011 <br />1 <br />