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• FFICE OF GENERAL COUNS• PITKIN IRON CORPORATION P.O BOX 2115 1001 GRAND AVENUE. SUITE tOfi GLENwOOD SPRINGS COLORApO 81602 (9]0~ 9i5~]IAB June 13, 2000 Steve Bennett Acting Field Office Manager Bureau of Land Management Glenwood Springs Resource Area 50629 Highway 6 & 29 Glenwcod Springs, CO 81602 RE: Mid-Continent Limestone Quarry Dear Mr. Bennett: III III'111111111111 RECEIVED JUN 1 G 2000 Divisipn of Minerals 8 Geology RECORDATION OF MINING CLAIMS Pitkin Iron Corporation has located and recorded mining claims, PICO Nos. 1-7, BLM serial numbers CMC-251169-CMC-251175, covering the lower quarry, known as the Mid-Continent Limestone Quarry. Attached please find BLM's Notification of Recordation. The claims 'nave been filed for the purpose of extracting locatable grade limestone for qualifying end-use sales. Pitkin Iron intends to excavate the previously mined and stockpiled material, located in the quarry, for such qualifying uses, consistent with the findings of the Interior Board of Land Appeals (IBLA) in the decision of May 14, 1999, IBLA 94-i21. Previously located placer claims, filed at the time the decision was pending, have lapsed; however, the location of PICO Nos. 1-7 provides the exact factual circumstances under which IBLA found that Pitkin Iron had a right to extract and sell all of the contested fines for qualifying end uses, even in the face of BLM'S declaration of a community pit prior to location of the claims. Based on the unique quality of these previously mined materials, Pitkin Iron has found a market for use in reclamation of mined lands, namely for chemical neutralization of acidic soil and water, prior to revegetation. Testing has demonstrated that this is excellent material for such purposes, based on its high calcite content. Further information concerning the qualifying sale of the material, which we deem. proprietary, will be provided ELM separately, on the basis that, it will remain confidential.