Mining

Gustavson Associates, LLC has more than 27 years of experience in the mining business, specializing in minerals and hydrocarbon exploration, production, and evaluation. The Company works throughout North America, as well as the rest of the world. In the minerals sector, our experience and capabilities focus on evaluation of exploration opportunities, computerized mineral resources and reserves estimation, project financing, due diligence, feasibility studies, appraisals and valuations, and qualified person reports.

The core of our mining services staff is comprised of William J. Crowl, Vice President, Mining Sector; Don E. Hulse, Principal Mining Engineer; Terre A. Lane, Senior Mining Engineer; and Don Beesley, Project Manager. With the help of these individuals, Gustavson is bolstering its successful record and commitment to the mining business. Their experience in due diligence audits and reviews of international mining projects dovetails well with the firm's history of providing high-level advice to our clients.

Recently, Gustavson was restructured and Walsh Environmental Scientists and Engineers acquired a substantial share of the company. Combining Gustavson's track record with that of Walsh and that of their parent company, Ecology and Environment, Inc. (AMEX: EEI), yields a firm capable of tackling projects of diverse size and scope, anywhere in the world.

Located in Boulder, Colorado, Gustavson's practice has ready access to research facilities at the Colorado School of Mines in Golden, the University of Colorado in Boulder, the NOAA headquarters also in Boulder, and the USGS facilities in Lakewood. The headquarters of our parent company, Walsh Environmental, is within walking distance of the Gustavson office, providing a unique opportunity for collaborative projects.

COMPANY PROFILE

Gustavson (www.gustavson.com) has a permanent staff of 20 geologists and engineers, including geologists, mining engineers, geophysicists, reservoir and production engineers, environmental specialists, petroleum and mineral economists and the support staff (GIS specialists, word processing, etc.) necessary. In addition, a network of experts in specialized fields is utilized in our projects on a consulting basis to supplement the in-house capabilities, as required. Staff members are all degreed professionals, most with M.S. and Ph.D degrees, and have an average of about 20 years of experience in the natural resource industries. Gustavson is 60 percent owned by Walsh Environmental Scientists and Engineers, LLC, which is 60 percent owned by Ecology and Environment, Inc.

Walsh Environmental Scientists and Engineers, Inc. (Walsh) (www.walshenv.com) is comprised of approximately 100 employees worldwide. Their offices are located in Boulder, Ft. Collins, and Colorado Springs, Colorado; Lima Peru; and Quito Ecuador, and Yamagata City, Japan. Walsh's staff of experienced professionals includes environmental scientists and engineers, industrial hygienists, geologists, ecologists, biologists, planners, and chemists.

Ecology and Environment, Inc. (E & E) (www.ene.com) is a large, international environmental firm that employs approximately 1,000 specialists in more than 75 separate disciplines embracing the physical, biological, social, and health sciences. E & E teams have worked closely with clients to successfully complete over 25,000 projects. Internationally, we have established offices, subsidiaries, joint ventures, partnerships, and have conducted business in 67 countries.

KEY GUSTAVSON PERSONNEL

William J. Crowl, P.G., Vice President Mining Sector. M.S. Economic Geology. Thirty-one years experience spanning the entire spectrum of mining geology from hands-on operations to managing geology and mining engineering organizations, to providing technical audits, feasibility studies and property acquisition evaluations. His experience includes technical due diligence and auditing for project financing and Stock Exchange reporting requirements for resources and reserves. He has managed a number of due diligence audits and reviews for project financing and has been directly responsible for the resource and reserve portions of most of those studies. He is an accomplished Project Manager and is a Qualified Person as defined by Canadian National Instrument 43-101.

Donald E. Hulse, Principal Mining Engineer Mr. Hulse has over 25 years of experience in the mining industry, including technical and general management, short and long term operational planning, economic pit limit analysis, pit and phase design, cost estimation and analysis, resource estimation, geostatistics, feasibility studies, and reserve audits. Project experience includes involvement with gold, silver, base metals, and industrial minerals in design, analysis, planning and operational control. He has been responsible for coordinating the efforts of a management team to achieve all permit approvals, construct the process plant, and initiate mine exploitation.

Terre A. Lane, Senior Mining Engineer Ms. Lane has over twenty-five years of management experience and twenty years of surface and underground mining experience, including operations, engineering, resource estimation, mine design, scheduling, budgeting, cost control, project analysis, permitting, closure and remediation, and financial analysis.  Ms. Lane has managed underground exploration programs in foreign countries, performed SEC approved feasibility studies, acquisition due diligence, ore reserve estimates, mine design, project scheduling, and provided engineering support to well over 200 projects around the world.

Donald Beesley, Project Manager, Mr. Beesley has more than 30 years experience in project management in a variety of industries, including mining, oil and gas, commercial, and government agencies. Specific projects Mr. Beesley has managed include pre-feasibility, feasibility, and detailed design of grass roots facilities modifications of existing facilities, and demolition/restoration projects. Projects locations include Russia, Bulgaria, Chile, Peru, North America, South America, and the South Pacific. Mr. Beesley's career has encompassed project management in the engineering, procurement, construction and construction management organizations of Gustavson Associates, Olsson Associates, Raytheon, Fluor Daniel, Williams Brothers and SRK. Mr. Beesley is a member of the advisory committee for the Project Management Masters Degree program at the Denver Technical College, is a member if PMI, and has taught project management both in educational institutions as well as on-site for owners and operators.

Robert B. Frahme, MAI, CPG, CMA, More than 35 years of experience in mining geology and valuation. This experience includes drilling, mapping and reserve estimation for open pit, underground and in situ mining. His underground geological experience includes iron and coal development and his mineral valuation experience includes industrial minerals, copper, base and precious metals and uranium. His industrial minerals experience includes the valuation of limestone, bentonite, sand and gravel and dimension stone. His current valuation assignments include limestone and marble for acquisition by eminent domain, sand and gravel for a friendly acquisition, and a massive sulfide deposit of copper and zinc for a conservation easement. Additional valuation work includes eminent domain cases involving power line easements, roadways, open space and various other public purposes, estate-planning cases involving various interests in land and appraisal of commercial property for financing. His eminent domain work has been for both the condemning authority and the property owner.

Edwin C. Moritz, President. Appraiser. B.S., Geology. Twenty years experience in oil, gas and mineral reserve and economic studies and fair market value appraisals, including all phases of field development work, reservoir management studies and reserve reporting. International work includes coalbed methane development in China, involving degasification of coal seams in advance of mining, using vertical drilling technology. Registered Appraiser.

Kenneth W. Grove, Chief Geologist. M.S. Geology. Twenty-five years experience in petroleum exploration and production including regional mapping, basin analysis, and delineation of drillable prospects. Widespread experience in the western U.S. with specific expertise in seismic-stratigraphic exploration for carbonate reservoirs, structural analysis of complex geological terrains, and horizontal drilling technology. Since joining Gustavson Associates in 1996, has conducted hydrocarbon resource appraisals in China, Russia, Ukraine and Turkey.

Letha C. Lencioni, Chief Reservoir Engineer. B.S., Petroleum Engineering. Registered Professional Engineer. Nineteen years experience in reservoir and operations engineering, including eleven years with ARCO. Worked throughout the U.S., including Alaska, Rocky Mountains, Mid-Continent, Permian Basin, and California. International experience includes reservoir studies, appraisals, reserve audits, feasibility studies, and due diligence in West Africa, China, Egypt, Russia, Kazakhstan, and other C.I.S. countries. Focus has generally been on reserve estimation, reservoir performance and haracterization, and reservoir simulation.

Dean A. Feller, Geological Engineer, B.Sc., Geological Engineering, Colorado School of Mines. Experience working for mining companies and also in the petroleum industry. Training and experience in industrial minerals, as well.

John B. Gustavson, Founder. M.S., Geology, M.S., Chemical Engineering. Thirty years experience in natural resource consulting worldwide. Operational manager of Gustavson Associates, LLC; widely acclaimed lecturer, consultant and expert witness. Is an expert witness for the U.S. Department of Justice and other governmental agencies in connection with numerous domestic and international mineral valuation cases.

For additional information and/or more details please contact:

William J. Crowl,
VP, Mining Sector
Gustavson Associates,LLC
Phone: 720-407-4062
Fax: 720-407-4067