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Moye <br />Via Certified U.S. Mail and Electronic -mail <br />October 17, 2011 <br />M. Kirk Ludwick, Esq. <br />The Law Offices of M. Kirk Ludwick <br />910 16th Street, Suite 219 <br />Denver, CO 80202 <br />Dear Messrs. Ludwick and Allender: <br />Robert M. Allender, Jr. <br />Eagle Minerals, LLC <br />3854 East Everett Drive <br />Phoenix, AZ 85032 <br />Re: Option Agreement — London Mining District Properties dated June 17, 2009 <br />between Ben L. Wright, Jr. and Eagle Minerals, LLC ("Eagle ")(the "Agreement ") <br />On behalf of the Wright Estate, I am writing to follow up on the correspondence I sent you <br />both electronically and by U.S. Mail on September 13, 2011. Since that time, neither the <br />Estate nor we have received any response from Eagle with respect to the Estate's <br />Information Requests, dated August 16, 2011 or September 13, 2011. Further, the Estate's <br />September 13, 2011 correspondence included notification pursuant to Section 19.1 of the <br />Agreement that Eagle was in default of its obligations under Section 5.4(e) of the <br />Agreement for failure to pay taxes and fees. Similarly, no response has been received from <br />Eagle to the Estate's notification of default. <br />Given the lack of response and Eagle's failure to cure its default within the required 30 day <br />period, the Agreement has terminated and is void and of no force and effect. <br />Notwithstanding termination, Eagle remains responsible for reimbursing the Estate for the <br />specified unpaid taxes and fees and demands immediate payment of such amounts. <br />Sincerely, <br />Moye White LLP <br />Paul M. Seby <br />PMS /mdh <br />01197511.DOC:4 <br />MoyelWhiteLLP Attorneys at Law <br />16 Market Square 6th Floor 140016th Street Denver CO 80202-1486 <br />tel 303 292 2900 fax 303 292 4510 www.moyewhite.com <br />Paul M. Seby <br />direct 303 292 7934 paul.seby @moyewhite corn <br />