What's happening with Jonesville Coal Project, page-4

Fair enough, buc.

This is from WUC's amended Form 10 SEC filing, filed 7/21/16 (before the MD&A was issued):

Alaska Properties

The Property.

A reclamation liability remains at this Alaska coal project. No leases or land use remain. The Jonesville Coal Project is a reclamation-only project.

Accessibility

The project is within the Wishbone Hill mining district 60 miles northeast of Anchorage, Alaska, a location with excellent road access, power lines within
approximately 0.5 miles and existing right of ways for both power and railroad right up to the historic portal area A port with coal loading facilities is
located approximately 65 road miles away at Point Mackenzie. Access from Anchorage is via the Glenn Highway, exiting at Mile 61 onto the Jonesville
Road, a paved secondary road, for 1.75 miles, then onto a gravel road for 0.7 miles to the mine site. The Jonesville Road is presently maintained by the
State of Alaska Department of Transportation and Public Facilities (DOTPH); the gravel road is not state-maintained, but renewed activity at the mine
will, according to the DOTPH, result in renewed state maintenance. The Jonesville Coal project is a reclamation-only project.

History

Historic mining from the Jonesville property from 1916 to 1968 produced six million tons of high-volatile B bituminous coal used extensively by the
Alaska Railroad and for power generation on military bases and in Anchorage. Studies have shown the quality of the washed coal to be a low-sulfur (0.3-
0.4%), high BTU (+12,000) product that is characterized as an excellent steam or thermal coal.

Project Geology

Coal measures on the lease include 20 identified coal beds within the Tertiary-age Chickaloon Formation, nine of which exhibit thicknesses of greater
than five feet in various areas of the property, with two of the nine averaging 12 and 18 feet in thickness. The coal beds are found in an asymmetric
syncline, the axis of which dips gently to the west, with beds on the south limb dipping at about 20 degrees north and the same beds on the north limb
dipping about 35 degrees south. Based on borehole data, coal beds flatten to the southwest along a broadening synclinal axis. Historic mining was largely
restricted to the north limb because mining methods employed at that time were found to be more economic in steeper dipping portions of the lease,
resulting in the flatter dipping areas which are more favorable for modern mechanized mining methods being left largely undisturbed.

Restoration and Reclamation.

The project is currently bonded for $360,200, where $210,200 was put up in cash by the company and the remainder is as a surety bond from a former
property lessee.