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Exhibit 1 <br />BEFORE THE MINED LAND RECLAMATION BOARD <br />STATE OF COLORADO <br />IN THE MATTER OF OURAY SILVER MINES, INC., REVEUNUE MINE <br />PERMIT No. M-2012-032. <br />DIVISION OF RECLAMATION, MINING, AND SAFETY AND OURAY <br />SILVER MINES, INC. STIPULATED AGREEMENT REGARDING OFFSITE <br />IMPACTS AND PERMIT AMENDMENT <br />THIS STIPULATED AGREEMENT {"Agreement") is made and entered into <br />by and between the Colorado Division of Reclamation, Mining and Safety (the <br />"Division") and Ouray Silver Mines, Inc. ("Operator'). Operator and the Division <br />collectively are referred to as the "Parties" or each individually as a "Party." <br />The Parties submit this Agreement for consideration by the Mined Land <br />Reclamation Board ("Board"). As grounds for this Agreement, the Division and <br />Operator state the following: <br />A. Ouray Silver Mines, Inc. operates a mine known as the Revenue Mine <br />("the site") under Permit No. M-2012-032 (the "Permit"), which is an active 112d-1 <br />underground operation located approximately 5 miles southwest of Ouray, <br />Colorado, at approximately 10,600 feet in elevation. <br />B. On February 25, 2021, the Division received a spill notification, case <br />number 2021-0066, from the Colorado Department of Public Health and <br />Environment ("CDPHE") at the Revenue mine. Operator self-reported the spill to <br />CDPHE when it discovered historic hydrocarbon contamination while drilling a <br />monitoring well near the site of an 1890's mill site. <br />C. On March 10, 2021, the Division inspected the site. The purpose of the <br />inspection was two -fold. First, it was in response to the spill notification. Second, <br />the Division was conducting a programmatic inspection related to Technical <br />Revisions 12 and 13 filed with the Division on March 1, 2021.1 <br />D. Operator filed TR -13 at the Division's request for an after -the -fact <br />update to the Permit to reflect the as -built site conditions because site modifications <br />were not accurately reflected in the Permit file. Specifically, in late fall of 2020, <br />Operator buried two pre-existing Connex storage containers placed on the Terrible <br />`TR -12 is under technical review by the Division. As explained in Paragraph H. TR. 13 has been <br />withdrawn by Operator. <br />49515101 <br />