Appraisals

The subject property is located just southeast of the town of Superior, in Pinal County, Arizona. It lies within the boundaries of the Globe Ranger District, Tonto National Forest. The property is an irregularly shaped group of seven patented lode mining claims and portions of two others. It contains 139.662 acres.

The subject properties are located 3 to 6 miles south of Elgin in Santa Cruz County, Arizona within the 8,000-acre Appleton-Whittell Research Ranch. The property consists of three non-contiguous parcels of mostly rolling grassland in the Canelo Hills totaling 956.54 acres. Each parcel is located along one of three streambeds that drain in a northeasterly direction into the Babocomari River which flows eastward to join the San Pedro River.

The subject property is located 2 to 3 miles north of Spur Cross Ranch Conservation Area, and about 6 miles north of the Town of Cave Creek, Maricopa County, Arizona. The site is within the Cave Creek Ranger District of the Tonto National Forest. The property is irregularly shaped and contains 149.30 acres.

The subject property is located northeast of Kearny, Arizona on the Pinal-Gila County line. It lies between Steamboat Mountain and Tam O-Shanter Peak in the Dripping Springs Mountains. The property is an elongated rectangle in shape and contains 160 acres.

The subject property is located in a rural area in the southeast portion of Coconino County. It is about 55 miles north of Payson, roughly 38 miles southwest of Winslow and about 1.5 miles east of Highway 87. The property is square in shape and contains 640 acres.

The subject property is located along a ±6.8-mile stretch of the San Pedro River, just east of Mammoth in Pinal County, Arizona. The subject parcel is bisected by the San Pedro River. State Route 77 diagonally passes through the northern portion of the property. The property is irregularly shaped and contains 3,062.85 acres.

The subject property is located about 1.5 miles east of the town of Superior and the northwest corner of the parent parcel adjoins Resolution patented lands at the Magma Mine No. 9 Shaft location. The property is bounded on the north by U.S. 60 and the Oak Flat Mineral Withdrawal Area at the northeast corner. The property is 1,655.53 acres.

The subject property is located about two miles east-northeast of the town of Superior at the Oak Flat Campground on the Tonto National Forest. The subject neighborhood is the area in and adjacent to the Arizona Copper Triangle which extends from west of Superior to Globe/Miami, and southerly to Winkleman. The subject property is 766.58 acres.

The subject property is located on Tangle Creek, at Bloody Basin. The property is just north of the junction of National Forest System Roads (NFSR) 24 and 269. The subject property is irregularly shaped and contains 148.11 acres.

The subject property is located at Turkey Creek which is about 13 miles northeast of Punkin Center. The property is irregularly shaped and contains 146.95 acres.