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Exploration has been carried out on the Bear Lodge Property since its discovery in 1949. In addition to Freeport,
several mining companies have conducted exploration and drilling programs at or near the Bear Lodge Property
since the discovery of mineralization. No mining or operations were conducted at the Bear Lodge Property by any of
the prior owners.
Necessary infrastructure, such as housing, food and fuel is available in communities in close proximity to the Bear
Lodge Property. Supplies can be delivered on both U.S. Interstate Highway 90 and rail lines. A Burlington Northern
rail transport line also runs through Moorcroft, 55 kilometers west of Sundance, and through Upton, the site of the
hydrometallurgical plant, 64 kilometers south of Sundance. The Gillette, Wyoming area, located approximately 89
kilometers to the west, has two coal-fired power plants and is currently a major logistics center for Powder River
Basin coal mining activity and will serve as such for any development at the Bear Lodge Property. The current size
of the Bear Lodge Property is sufficiently large to support a mining operation, with no foreseeable obstacles
regarding expansion, subject to a favorable outcome with regard to permitting.
We are not aware of any outstanding environmental liabilities, except for required reclamation work associated with
our ongoing exploration and drilling activities. Previous exploration activities were approved by both the USFS and
the Wyoming Department of Environmental Quality. We have an approved reclamation plan and a posted surety
bond to cover the required reclamation.
Additional local, state and federal permits will be required for mining, beneficiation and processing operations
should we decide to proceed to mine development and operations.
