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thence S 84°32'42" E a distance of 110.72; thence S 59°22'17.32"W a distance of 71.675;
<br /> thence N 83'14'39" E a distance of 95.44; thence S 74°43'38.84"W a distance of 15.298';
<br /> thence S 60'19'03" E a distance of 85.07', thence S 63°47'33.21" E a distance of 136.051;
<br /> thence S 73°28'57" E a distance of 66.64; thence S 27°07'07.61"E a distance of 73.970';
<br /> thence S 76°38'46" E a distance of 173.17% thence S 32°25'01.62"E a distance of 41.063';
<br /> thence S 66°56'22" E a distance of 82.40'; thence N 84°34'28.08" E a distance of 83.649',
<br /> thence S 48'23'18" E a distance of 175.19; thence N 28°55'56.53" E a distance of 74 151;
<br /> thence S 25°22'51"W a distance of 288 80'; thence N 25'16'35.62"E a distance of 102.91 I;
<br /> thence S 55°36'14" W a distance of 803.14; thence N 00'17'50 15" E a distance of 195.789;
<br /> thence N 89°55'08"W a distance of 724.97; thence N 44'15'28 52"W a distance of 20.566';
<br /> thence S 75°21'49" W a distance of 313.16; which is the point of beginning,having an area of 1.39 acres
<br /> thence N 63°07'39"W a distance of 361.79';
<br /> thence N 68°51'20"W a distance of 213.43'; 2.3 The Real Property includes all and singular rights and appurtenances
<br /> thence N 40°3 V51"W a distance of 475.75'; thereunto belonging or in any manner appertaining to the same,including but not limited
<br /> thence N 62°52'07"W a distance of 85.26; to the following: the mines,minerals,lodes,ledges and veins within the lines of mining
<br /> thence N 16°42'49"E a distance of 302.27% claims comprising the Property, their dips,spurs and extralateral rights; all minerals of
<br /> thence N 17°02'39"E a distance of 303.07% every kind and character, whether base, precious, metallic, nonmetallic or otherwise,
<br /> thence N 72°40'45"W a distance of 43.96; lying in, on or under the Property; all severed ore, and improvements which may be
<br /> thence N 08'15'47"W a distance of 51.58'; situated on the surface of or located within the Property; all rights-of-way, easements,
<br /> thence N 66°55'57"E a distance of 133.96; permits, licenses, permissions and other authorizations affecting access to the Property
<br /> thence S 87°29'45" E a distance of 155.90% or the right to conduct operations therein and thereon.
<br /> thence S 67'18'51"E a distance of 152.07';
<br /> thence S 35'55'16" E a distance of 77.76', 3. Water Rights
<br /> which is the point of beginning,having an area of 2,171,039.04 square feet,49.840 acres
<br /> 3.1 Case No. W-2991: Lake Reservoir and 24.74 acre feet of water for
<br /> Yellow Rose Raise storage as more particularly described in the decree ofthe Water Court for Water Division
<br /> From Rev A and S 36°20'01"E a distance of 3078.90'to the point of beginning; No.4 in Case No.W-2991,dated April 10, 1979 and recorded in Ouray County,Colorado
<br /> thence N 90°00'00" E a distance of 100.00'; records in Book 191,Pages 981 and 982.W-2991 provides an absolute right to store 24.74
<br /> thence S 00°00'00" E a distance of 100.00'; acre-feet in Lake Reservoir for domestic, fire protection, mining, milling and power
<br /> thence N 90°00'00" W a distance of 100.00'; purposes. The water right has a 1976 priority date and an appropriation date of September
<br /> thence N 00°00'00"W a distance of 100.00% 12, 1905.
<br /> which is the point of beginning,having an area of 0.230 acres
<br /> 3.2 Case No. W-2993: 3.34 c.f.s. or 1,500 g.p.m. diverted at a location in
<br /> 960 Raise the NE/4 SEA of Section 21,Township 43 North, Range 8 West,of the N.M.P.M.,more
<br /> From Rev A and S 20°10'29" E a distance of 1693.95'to the point of beginning; particularly described in and subject to the decree of the Water Court for Water Division
<br /> thence N 90°00'00"E a distance of 100.00'; No.4 in Case No.W-2993,dated June 26, 1979,and recorded in Ouray County,Colorado
<br /> thence S 00°00'00"E a distance of 100.00; records Book 191,Pages 979 and 980 W-2993 provides conditional water right for 3.34
<br /> thence N 90°00'00"W a distance of 100.00'; cfs with a 1934 appropriation date for mining, milling, and industrial purposes and a
<br /> thence N 00°00'00"W a distance of 100.00% December 30, 1976 appropriation date for commercial, piscatorial, recreational, fire
<br /> which is the point of beginning,having an area of 0.230 acres protection and domestic purposes. A portion of this water right-mining (2.43 cfs),
<br /> industrial(2.23 cfs),milling(0.18 cfs), fire protection(0.18 cfs),commercial(0.18 cfs),
<br /> Monongahela Raise and domestic (0.16 cfs)-was made absolute in Case No. 20CW3048. Diligence
<br /> From Rev A and S 66°10'48.58"W a distance of 6683.128'to the point of beginning; applications on the conditional water right have been filed routinely and the conditional
<br /> thence S 43'13'18.49"W a distance of 53.924; water right has been maintained. See 83CW95, 87CW110, 93CW251, OOCW228,
<br /> thence S 30°09'38.73"W a distance of 56.043; 07CW137, 14CW3011,and 20CW3048 In 21CW3042,the water court granted a change
<br /> thence S 64°48'36.88" W a distance of 205.578';
<br /> Exhibit 1 Exhibit 1
<br /> Page 25 of 73 Page 26 of 73
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