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~II II~IIIII~I~~~ ~I~ <br />-.., <br />energy fuels nuclear, inc. <br /> <br />11vee park cenVal • salts 900 <br />1515 erapahoe street • darner, coloredo 80202 <br />VIA UPS OVERNIGHT <br />Michael B. Long, Division Director <br />Division of Minerals and Geology <br />Department of Natural Resources <br />1313 Sherman Street, Room 215 <br />Denver, CO 80203 <br />Re: M/77/285: Sunday Mine <br />M177/416: Carnation Mine <br />M/78/039: St. Jude Mine <br />M/81 /021: West Sunday Mine <br />Ml80(055: Topaz Mine <br />~NR <br />Dear Mr. Long: <br />303-623-8317 <br />tvnc 910-931-2581 <br />fax 303-595-0930 <br />March 6, 1997 <br />pcrGl\/ED <br />trap 0 61991 <br />9e~8' <br />:JIVISIUii ui ,•w iw a~a a. vccl~~Y <br />Enclosed are duplicate originals of the "Transfer of Permit and Succession of Operators <br />Application" and "Performance Warranty", duly executed, for each of the above-referenced <br />mines, together with a check in the amount of 5500 to cover the transfer fees. These mines <br />along with other properties are being sold by Energy Fuels to International Uranium (USA) <br />Corporation ("IUC") as explained in the attached Addendum. IUC realizes that a replacement <br />bond or other surety must be posted with the Division to complete the transfer of these <br />permits and IUC will submit either a corporate surety bond or a letter of credit on the date of <br />closing utilizing the appropriate forms provided and approved by the Division. <br />We understand that there are two ways to handle the determination of the surety or <br />bond amount depending on whether or not IUC waives the 30 day response requirement. To <br />facilitate the closing of the transaction, IUC would prefer to present to the Division, on or <br />immediately after closing, replacement surety or bonds in amounts equal to what is presently <br />posted by Energy Fuels, recognizing that the Division has the right to adjust the amount of <br />such bonds at any time. <br />Please call Vicki Hoffsetz, Land Administrator for Energy Fuels, at 623-8317, or <br />Rich A. Munson, counsel for Energy Fuels, at 899-4469, if you have any questions regarding <br />these documents or the pending sale. Thank you for your cooperation and assistance. <br />ENERGY FUELS NUCLEAR, INC. INTERNATIONAL URANIUM (USA) <br />a Colorado corporation CORPORATION <br />a Delaware Corporation <br />e ,~ 1~ J <br />By: ty:c~r/' ~ - --BY~ <br />Donald L. Peterson, President <br />Encs: Addendum <br />Permit Transfer Documents <br />Check <br />