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ALLIANCE 1400 Sixteenth Street <br /> Suite 400 <br /> M N N a c. t M L N 1 Denver,CO 80202 <br /> a berga=Vcompany 720-932-8060[Main] <br /> www.alliancemgmt.com <br /> July 28, 2022 RECEIVED <br /> RE: Appointment of a Receiver: Ouray Silver Mines,Inc. AUG 0 9 2022 <br /> In the District Court of Ouray, Colorado <br /> Court File Number: 2022CV30006 DIVISION OF RECLAMATION <br /> MINING AND SAFETY <br /> To: All Potential Vendors and Creditors of Ouray Silver Mines,Inc. <br /> This letter is to notify you that effective July 7,2022(the "Effective Date"),pursuant to an Order <br /> For Appointment of a Receiver on that date, Alliance Management,LLC (the"Receiver") was <br /> appointed Receiver by the Ouray County District Court to take immediate control of the assets of <br /> Ouray Silver Mines, Inc. (OSM)whose address is: <br /> 1900 Main Street, Unit 1, Ouray, CO 81427. <br /> Under the terms of the Order Appointing Receiver(copy enclosed),the Receiver shall not be bound <br /> by all or any pre-receivership contracts, agreements, understandings or other commitments, and <br /> pre-receivership claims shall be subject to a claims process approved by the court,should sufficient <br /> funds exist after the sale of the assets of OSM. The Receiver will not be accepting trade credit for <br /> goods and services provided from and after the Effective Date. However,the Receiver may seek <br /> to purchase goods or services on a cash basis going forward. As a condition of this payment, any <br /> amounts received by you from this point forward will be applied to the current purchase of goods <br /> and/or services and shall not constitute a payment on any debt incurred prior to the Effective Date. <br /> The Receiver has been appointed to maximize the recovery and the value to the Receivership <br /> estate. At this time,no claims adjudication or payment process has been approved by the Court. <br /> The name and address for the Receiver is as follows: <br /> Alliance Management, LLC <br /> 1400 Sixteenth Street <br /> Suite 400 <br /> Denver, CO 80202 <br /> Attn: Dan Turnquist and Alex Smith <br /> The name and address for the Receiver's counsel is: <br /> Fairfield and Woods, P.C. <br /> 1801 California Street, Suite 2600 <br /> Denver, CO 80202 2645 <br /> Attn: Jack Tanner <br />