Fabled Silver Gold Corp T.FCO

From Ray Henderson

[wcass]

So I get home from work today and find this in my mailbox. I wish it were emailed to me so it would be easier to send but here it is just the same. Nothing really new but ITS FROM RAY. "Dear Interested Parties: The Salmon-Challis National Forest released a Draft Environmental Impact Statement (DEIS) in February of 2007 for the Idaho Cobalt Project.At the request of members of the public, the Forest extended the comment period to May 2007. While the project continues to stay on schedule and recieve full support from members of the community as well as federal, state and local congressional staff, the agency has the responsibility to fullfill the National Environmental Policy Act (NEPA) process. To date the EPA and the FS have recieved extensive comments from the public, including attorneys representing several clients. A number of issues raised during the comment period were resolved during this timeframe which has resulted in FCO making a decision in Novenber of 2007 to apply for a mixing zone to the Idaho Department of Environmental Quality and to revise their National Pollution Discharge Elimination System (NPDES) permit in January of 2008. This information was necessary to complete a Biological Assessment for submission to the U.S. fish and Wildlife Service and National Marine Fisheries Service to initiate consultation under the Endangered Species Act. The Schedule of Proposed Actions issued by the Forest Service in January of 2008 indicates July of 2008 for the signing of the (ROD), which requires a Biological Opinion from the consultation agencies prior to issueing the ROD. The final Environmental Impact Statement (FEIS) will have a 45 day appeal period, followed by a 45 day appeal resolution period which is anticipated to be completed in November of 2008. In addition to the ROD and FEIS documents released from the FS, the EPA will need to issue a ROD for the NPDES Permit, which is anticipated 45 days after the issuance of the FEIS. Based on the extensive comments received on the DEIS we are expecting at least one appeal of the Idaho Cobalt Project and all agencies (EPA, FS, NOAA and USF &WLS), are preparing extensive records in preparation for protest to the project once the appeal process has been completed. Members of the FS staff are actively engaged with Formation Capital in assisting them in development of a plan of operations reflecting the agencies decision and long term financial assurance for the project which must be in place prior to any surface disturbing activities. The Company is also actively pursuing a 404 permit from the Corp of Engineers, preparing engineering designs and other plans required for agency approval including initiating discussions with the Blackbird Mine Site Group (BMSG) to obtain required agreements. In response to comments from the City of Salmon, Lemhi County, School District and Shonshone Bannock Tribes, FCC has agreed to develop Good Neighbor Agreements with these entities to address their concerns. The project continues to be very important to the Salmon-Challis National Forest, Formation Capital Corp., and to the community of Salmon. Leadership on the Forest fully recognizes the potential for economic improvement for the local community and they are doing what they can to move the project through the NEPA process. Leadership also recognizes that financial stability is largely dependent on this project. However, ther is a lot of work to be done prior to putting the first shovel in the ground at the site. The project leader continues to work closely with staff of FCC to make sure all the necessary steps are complete. The Forest service is on schedule with the process and anticipates releasing the ROD abd the FEIS to the public by the third quarter of this year. The FS is updating our mailing and contactlist and is requsting you provide us with an affirmation that you are interested in receiving information on the project and your preference for a CD or a bound copy of the ROD and FEIS. A prompt response would be appreciated and this will assist us in anticipating the number of copies of documents to have printers develop. A stamped reply card is enclosed for your convince. For further info, please contact ICP Coordinator, Ray Henderson at 208-756-5231."