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SG$ <br />October 17, 2011 <br />New Elk Coal Company <br />122 West First St. <br />Trinidad, CO 81082 <br />USA <br />Client Sample ID: <br />Date Received: <br />Matrix: <br />TESTS <br />Biochemical Oxygen Demand, 5 D <br />Solids, Total Suspended <br />Method Reference(s): <br />"Standard Methods for the Examination of <br />Sample 033 <br />05/27/2010 <br />Water <br />SGS Minerals Sample ID: 072 -45937 -002 <br />RESULT <br />58 mg/L <br />29 mg /L <br />Analysis Report <br />Date Sampled : <br />Project Name/9 : <br />Sample Taken By : <br />Sample Type : <br />Time Sampled : <br />REPORTING ANALYZED <br />METHOD LIMIT DATE / TIME ANALYST <br />SM5210 B 2 05/28/2010 800 TG <br />SM2540 D 5 05/28/2010 1000 ST <br />Water and Wastewater", 18th Edition, 1992; APHA- AWWA -WEF <br />C�7lr�ti! /r��r' <br />SOS North America ho. I h+inerals Services Diiison <br />4665 Paris St Suite 8-200 [tenter CO 80239 <br />This document is issued by the Company under its General Conditions of Service accessible at http:// www. sgs .com/terms_and_conditions.htm <br />05/26/2010 <br />New Elk Coal <br />Bobby Steele <br />N/A <br />4:00 pm <br />Somer Rodriguez, Denver Laboratory <br />if (303)373 -4772 f (303)373 -4791 wwasgscomininerals <br />Memberof SOS Oroup <br />Attention is <br />drawn to the limitation of liability, indemnification and Jurisdiction issues defined therin. <br />Any holder of this document is advised that information contained hereon reflects the Company's findings at the time of its intervention only and within the limits <br />of Client's instructions, if any. The Company's sole responsibility is to Its client and this document does not exonerate parties to a transaction from exercising all <br />their rights and obligations under the transaction documents. Any unauthorized alteration, forgery or falsification of the content or appearance of this document <br />is unlawful and offenders may be prosecuted to the fullest extent of the law. <br />Page 1 of 1 <br />