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STATE OF COLORADO <br />MINING AND SAFETY <br />DIVISION OF RECLAMATION <br />, <br />Department of Natural Resources <br />1313 Sherman St., Room 215 <br />COLORADO <br />Denver, Colorado 80203 D I V I E I ON OF <br />Phone: (303) 866-3567 RECLAMATION <br />FAX: (303) 832-8106 MINING <br /> <br /> SAFETY <br /> Bill Ritter, Jr. <br /> <br />July 31, 2008 Governor <br /> Harris D. Sherman <br /> Executive Director <br />Don Hamilton <br /> Ronald w. cattany <br />Buys & Associates, Inc. Division Director <br />2580 Creekview Road Natural Resource Trustee <br />Moab, Utah 84532 <br /> <br />Re: Vex Claims, Notice of Intent (NOI) P-2008-022,, Adequate and Complete. <br />Dear Mr. Hamilton, <br />The Division of Reclamation, Mining and Safety has completed the review of the above referenced Notice of <br />Intent application. It appears that all issues have been addressed and the application meets the requirements of the <br />Act and Rules. Therefore, staff is pleased to inform Homeland Uranium for the Vex Claims Project is considered <br />adequate and complete. <br />Homeland Uranium has accepted the reclamation liability bond estimate of $7,980.00. The bond is based on <br />plugging 10 dry holes. Should drilling encounter water, Homeland is required to notify DRMS and BLM within <br />24 hours to assess the situation. Additional bonding may be necessary if the water encounter appears to be <br />problematic. Per Homeland Uranium's request the reclamation liability is posted against their Statewide Bond, <br />Letter of Credit #LC-4091345-6001. <br />To date the BLM has not concurred on the bond amount. If they have issues, the bond amount may need to be <br />adjusted accordingly. Please note that BLM must also issue its approvals prior to any disturbance on site. <br />If you need additional information, please contact me at the Division of Reclamation, Mining and Safety, Grand <br />Junction Field Office, 101 S. 3rd St., Suite 301, Grand Junction, Colorado 81501, telephone no. 970.241.1117. <br />Sincerely, <br /> <br />G. Russell Means <br />Environmental Protection Specialist <br />Cc: Helen Mary Johnson, BLM San Juan Field Office <br />Office of Office of <br />Mined Land Reclamation Denver • Grand Junction • Durango Active and Inactive Mines