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April 06, 2011 <br />Western Fuels Association <br />P.O. Box 33424 <br />Denver, CO 80233 <br />USA <br />Client Sample ID: <br />Date Received: <br />Matrix: <br />Net Sample Weight: <br />Core Hole ID : <br />Mine : <br />% Moisture, Total <br />% Ash <br />Gross Calorific Value (Btu /lb) <br />% Sulfur <br />% Sulfur, Pyritic - FOS <br />% Sulfur, Sulfate - FOS <br />% Sulfur, Organic - FOS <br />Tests <br />Pounds of Ash /mm Btu <br />Pounds of Sulfur /mm Btu <br />Pounds of S02 /mm Btu <br />1 <br />03/23/2011 <br />Coal <br />2595.20 g <br />NHN11 -1 <br />New Horizon <br />[ASTM D 3302] <br />[ASTM D 3174/5142] <br />[ASTM D 5865] <br />[ASTM D 4239] <br />[ASTMD2492 Mod.] <br />[ASTMD2492 Mod.] <br />[ASTMD2492 Mod.] <br />Analysis Report <br />Footage Begin : <br />Footage End : <br />Sample Type : <br />SGS Minerals Sample ID: 072 - 51802 -001 <br />As Received La MAF <br />4.42 <br />23.29 24.37 <br />10541 11029 14582 <br />1.84 1.93 <br />1.17 1.22 <br /><0.01 <0.01 <br />0.67 0.71 <br />Result Unit Method <br />22.09 Ib <br />1.75 Ib <br />3.49 Ib <br />,./if Somer Rodriguez, Denver Laboratory <br />74.0 <br />75.3 <br />-3" Core Moist <br />Page 1 of 1 <br />SGS North America Inc. Minerals Services Division U <br />4665 Paris St Suite B -200 Denver CO 60239 t (303) 373 -4772 f (303) 373 -4791 www.sgs.comfminerals <br />Member of SGS Group <br />his document is issued by the Company under its General Conditions of Service accessible at http:// www. sgs .com /terms_and_conditlons.htm 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 arty. 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 />