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Ouray Silver Mines,Inc. j: <br /> 1900 Main St. Unit 1 <br /> PO Box 564 <br /> Ouray,CO 81427 G 2 2022 <br /> August 161h, 2022 a►�J►S►O&sAR Y_M%4ERALS <br /> M►twAG <br /> Mr. Lucas West Colorado Division of Reclamation Mining and Safety <br /> 1313 Sherman Street, Rm 215J�p'�b► <br /> Denver, CO 80203 <br /> Subject: Notice of Temporary Cessation <br /> DRMS Permit No. M-2012-032 <br /> Revenue Mine, Ouray County, Colorado <br /> V <br /> Dear Mr. West, <br /> Ouray Silver Mines, Inc. (OSMI) is notifying the Division of Reclamation Mining and Safety of <br /> its intent to put the Revenue Mine (Permit No. M-2012-032) into Temporary Cessation (TC) as <br /> of August 16, 2022, in accordance with Rule 1.13.5. Enclosed with this letter is the Temporary <br /> Cessation Notice form as well as a description of the requirements outlined in Rule 1.13.5.2 (a) <br /> through (e)and (g). <br /> • Reason for non-production. The Revenue Mine ran into financial difficulties in late 2021, <br /> which resulted in a series of reductions in workforce in November 2021 and January and <br /> February 2022. The mine has been in Receivership since July 7, 2022. As a result, OSMI <br /> lacks the financing available to commence development of the ore or complete <br /> construction of the mill at this time. <br /> • Plan for resumption of mining. OSMI has a detailed mine startup plan that is available <br /> upon request. In general,the startup plan includes the following: <br /> o Hiring staff <br /> ■ Mine and mill management <br /> ■ Admin personnel <br /> ■ Technical / support staff <br /> ■ Underground miners <br /> ■ Mill personnel <br /> ■ Surface personnel <br /> ■ Maintenance (mechanic, carpenters, electricians) <br /> o Underground exploration and drift guidance drill program <br /> o Underground Development <br /> ■ Infrastructure rehabilitation <br /> ■ #1 Raise completion and hoist commissioning <br /> ■ Raise bore surface development <br /> • Install century elevator in raise bore <br /> Phone:(970)325-9830 ♦ Fax: (970)325-9824 <br />