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TATE OF COLORADO <br />DIVISION OF RECLAMATION, MINING AND SAFETY <br />Department of Natural Resources l <br />1313 Sherman St., Room 215 n„y?jF?l <br />Denver, Colorado 80203 <br />Phone: (303) 866-3567 `n <br />FAX: (303) 832-8106 ?ly <br />March 24, 2009 <br />`lam <br />Mr. Richard Blubaugh 01,E <br />Powertech (USA) Inc. <br />5575 DTC Pkwy, Suite 140 <br />COLORADO <br />DIVISION OF <br />RECLAMATION <br />MINING <br />SAFETY <br />Bill Ritter, Jr. <br />Governor <br />Harris D. Sherman <br />Executive Director <br />Ronald W. Cattany <br />Greenwood Village, CO 80111 Division Director <br />Natural Resource Trustee <br />RE: Notice of Intent to Conduct Prospecting Operations for Centennial Uranium Project, File No. P-2008-043,?-' <br />Approval to Commence Prospecting and Acceptance of Financial Warranties <br />Dear Mr. Blubaugh: <br />The Division approved your Notice of Intent to Conduct Prospecting on August 27, 2008 and final approval for your <br />Notice of Intent to Conduct Prospecting at the Centennial Ranch Uranium Project was granted on August 27, 2008 <br />and you were allowed to commence operations at this site. <br />On October 22, 2008, the Division approved the first modification to the Notice of Intent, pending receipt and <br />approval of additional financial warranty. On March 23, 2009, the Division received and approved One Site <br />Prospecting Financial Warranty Check for Deposit in State Treasury No. 0474508591, in the amount of $67,400.00, <br />for the Centennial Uranium Project Modification No. 1, for File No. P-2008-043. You are now allowed to resume <br />prospecting operations at this site. <br />In accordance with Rule 5.6, an Annual Report and associated fee of $86.00 per site must be submitted on your notice <br />approval anniversary date for each year following the filing of an NOI until reclamation responsibility release is <br />granted. In addition, Rule 5.3.4 requires the prospector to notify the Division of completion of prospecting operations <br />and Rule 5.7 requires the submittal of a final report for drill holes within 60 days of completion of the abandonment <br />for artesian flow holes and within one year of completion of the abandonment for any other drill holes. If you have <br />any questions, please contact our office at (303) 866-3567. <br />Sincerely, <br />Elizabeth Taliaferro <br />Program Assistant <br />Cc: Allen Sorenson, DRMS <br />Tony Waldron, DRMS <br />Office of <br />Office of