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In Reply Refer To: <br />3410(CO -921) KB <br />COC74911 <br />Oxbow Mining, LLC <br />Attention: Mr. Steve Weist <br />PO Box 535 <br />Somerset CO 81434 <br />Enclosures <br />cc: FOM, UFO w /license <br />Surety <br />United States Department of the Interior <br />BUREAU OF LAND MANAGEMENT <br />Colorado State Office <br />2850 Youngfield Street <br />Lakewood, Colorado 80215 -7210 <br />www.co.blm.gov <br />OCT 2 6 2012 <br />Decision <br />Coal Exploration License Issued <br />Surety Bond Accepted <br />Sincerely, <br />04 / dei,Zel <br />Lonny Bagley <br />Deputy State Director <br />Division of Energy, Lands and Minerals <br />Enclosed is your copy of coal exploration license COC74911 with the approved exploration plan. <br />The exploration license is effective November 01, 2012. <br />Bond Under License to Explore for Coal Deposits, Bond No. in the amount of <br />$263,000; having Oxbow Mining, LLC as principal and Liberty Mutual Insurance Company, at <br />175 Berkeley St, Boston, MA 02117, as surety, has been examined, found satisfactory and is <br />accepted effective November 01, 2012. <br />