THE ARKANSAS RIVER RANCH PROPERTY IS LOCATED ADJACENT TO THE UPPER ARKANSAS RIVER DOWNSTREAM FROM AREAS OF MINING ACTIVITIES INCLUDING THE CALIFORNIA GULCH HISTORIC MINING DISTRICT IN AND AROUND LEADVILLE, CO. MINING ACTIVITY HAS OCCURRED UPSTREAM OF THE PROPERTY FOR APPROXIMATELY 130 YEARS. DURING THAT TIME, MINING WASTES HAVE BEEN WASHED DOWN THE RIVER AND HAVE COME TO BE LOCATED IN DEPOSITS ON AND ADJACENT TO THE ARKANSAS RIVER RANCH PROPERTY. A PRELIMINARY ASSESSMENT SHOWS THAT THERE ARE AT LEAST 40,000 CUBIC YARDS OF FLUVIAL TAILINGS WITH ELEVATED LEVELS OF METALS. THE STATE OF COLORADO, ACTING BY AND THROUGH THE DIVISION OF PARKS AND OUTDOOR RECREATION INTENDS TO PURCHASE A PORTION OF THE ARKANSAS RIVER RANCH FOR USE AS PARKS, OPEN SPACE, WILDLIFE HABITAT, RECREATION AND/OR OTHER USES.