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Item 3. Legal Proceedings

2024-04-16 compared with 2023-04-17 · 78 added, 81 removed, 46 unchanged (78% of the section changed)

LEGAL PROCEEDINGS

Other than described below, management is not aware of any material

legal proceedings that are pending or that have been threatened against us or our subsidiaries or any of our respective properties, and

none of our directors, officers, affiliates or record or beneficial owners of more than 5% of our common shares, or any associate of any

such director, officer, affiliate or shareholder, is (i) a party adverse to us or any of our subsidiaries in any legal proceeding or (ii)

has an adverse interest to us or any of our subsidiaries in any legal proceeding.

Other than described below, management is not

aware of any material legal proceedings that are pending or that have been threatened against us or our subsidiaries or any of our respective

properties, and none of our directors, officers, affiliates or record or beneficial owners of more than 5% of our common shares, or any

associate of any such director, officer, affiliate or shareholder, is (i) a party adverse to us or any of our subsidiaries in any legal

proceeding or (ii) has an adverse interest to us or any of our subsidiaries in any legal proceeding.

The Company is subject to periodic inspection

4 unchanged sentences

adverse effect on the Company.

A prior owner of the Van 4 Mine had been granted

a first Temporary Cessation from reclamation of the mine by the Colorado Mined Land Reclamation Board (“MLRB”) which was set

to expire June 23, 2017.

Prior to its expiration, PRM formally requested an extension through a second Temporary Cessation.

PRM subsequently

participated in a public process which culminated in a hearing on July 26, 2017.

Prior to the hearing, three non-profit organizations

who pursue environmental and conservation objectives filed a brief objecting to the extension.

The MLRB board members voted to grant a

second five-year Temporary Cessation for the Van 4 Mine.

Thereafter, the three objecting parties filed a lawsuit on September 18, 2017.

The MLRB was named as the defendant and PRM was named as a party to the case due to the Colorado law requirement that any lawsuit filed

after a hearing must include all of the parties in the proceeding.

The plaintiff organizations are seeking for the court to set aside

the board order granting a second five-year Temporary Cessation period to PRM for the Van 4 Mine.

A prior owner of the Van 4 Mine had been

granted a first Temporary Cessation from reclamation of the mine by the Colorado Mined Land Reclamation Board (“MLRB”)

which was set to expire June 23, 2017.

Prior to its expiration, PRM formally requested an extension through a second Temporary

PRM subsequently participated in a public process which culminated in a hearing on July 26, 2017.

Prior to the hearing,

three non-profit organizations who pursue environmental and conservation objectives filed a brief objecting to the extension.

MLRB board members voted to grant a second five-year Temporary Cessation for the Van 4 Mine.

Thereafter, the three objecting parties

filed a lawsuit on September 18, 2017.

The MLRB was named as the defendant and PRM was named as a party to the case due to the

Colorado law requirement that any lawsuit filed after a hearing must include all of the parties in the proceeding.

The plaintiff

organizations are seeking for the court to set aside the board order granting a second five-year Temporary Cessation period to PRM

for the Van 4 Mine.

The Colorado state Attorney General

was defending this action in the Denver Colorado District Court.

On May 8, 2018, the Denver Colorado District Court ruled in favor, whereby

the additional five-year temporary cessation period was granted.

The Plaintiffs appealed this ruling to the Colorado Court of Appeals

and on July 25, 2019 the ruling was reversed, ruling that the additional five-year temporary cessation period should not have been granted.

On May 8, 2018, the Denver Colorado District Court ruled in favor,

whereby the additional five-year temporary cessation period was granted.

The Plaintiffs appealed this ruling to the Colorado Court

of Appeals and on July 25, 2019 the ruling was reversed, ruling that the additional five-year temporary cessation period should not

have been granted.

The MLRB and the Colorado Attorney General advised

10 unchanged sentences

is fully covered by the reclamation bonds posted upon acquisition of the property.

On February 4, 2020, the Colorado DRMS

sent a Notice of Hearing to Declare Termination of Mining Operations related to the status of the mining permits issued by the state of

Colorado for the Sunday Mine Complex.

At issue is the application of an unchallenged Colorado Court of Appeals Opinion for a separate

mine (Van 4) with very different facts that are retroactively modifying DRMS rules and regulations.

The Company maintains that it was

timely in meeting existing rules and regulations.

The hearing wa s scheduled to be held during several

monthly MLRB Board meetings, but this matter has been delayed several times.

The permit hearing was held during MLRB Board monthly meeting

on July 22, 2020.

On February 4, 2020,

the Colorado DRMS sent a Notice of Hearing to Declare Termination of Mining Operations related to the status of the mining permits issued

by the state of Colorado for the Sunday Mine Complex.

At issue is the application of an unchallenged Colorado Court of Appeals Opinion

for a separate mine (Van 4) with very different facts that are retroactively modifying DRMS rules and regulations.

The Company maintains

that it was timely in meeting existing rules and regulations.

The hearing wa s scheduled to be held

during several monthly MLRB Board meetings, but this matter has been delayed several times.

The permit hearing was held during MLRB Board

monthly meeting on July 22, 2020.

At issue was the status of the five existing permits which comprise the Sunday Mine Complex.

Due to COVID restrictions,

the hearing took place utilizing a virtual-only format.

The Company prevailed in a 3 to 1 decision which acknowledged that the work completed

at the Sunday Mines under DRMS oversight was timely and sufficient for Western to maintain these permits.

In a subsequent July 30, 2020

letter, the DRMS notified the Company that the status of the five permits (Sunday, West Sunday, St.

Jude, Carnation, and Topaz) had been

changed to Active status effective June 10, 2019, the original date on which the change of the status was approved.

On August 23, 2020,

the Company initiated a request for temporary cessation status for the Sunday Mine Complex as the mines had not been restarted within

a 180-day window due to the direct and indirect impacts of the COVID-19 pandemic.

Accordingly, a permit hearing was scheduled for October

21, 2020 to determine temporary cessation status.

In a unanimous vote, the MLRB approved temporary cessation status for each of the five

Sunday Mine Complex permits (Sunday, West Sunday, St.

COVID restrictions, the hearing took place utilizing a virtual-only format.

The Company prevailed in a 3 to 1 decision which acknowledged

that the work completed at the Sunday Mines under DRMS oversight was timely and sufficient for Western to maintain these permits.

subsequent July 30, 2020 letter, the DRMS notified the Company that the status of the five permits (Sunday, West Sunday, St.

Jude, Carnation,

and Topaz) had been changed to Active status effective June 10, 2019, the original date on which the change of the status was approved.

On August 23, 2020, the Company initiated a request for temporary cessation status for the Sunday Mine Complex as the mines had not been

restarted within a 180-day window due to the direct and indirect impacts of the COVID-19 pandemic.

Accordingly, a permit hearing was scheduled

for October 21, 2020 to determine temporary cessation status.

In a unanimous vote, the MLRB approved temporary cessation status for each

of the five Sunday Mine Complex permits (Sunday, West Sunday, St.

Jude, Carnation, and Topaz).

On October 9, 2020, the MLRB issued a board order which

finalized the findings of the July 22, 2020 permit hearing.

On November 10, 2020, the MLRB issued a board order which finalized the findings

of the October 21, 2020 permit hearing.

On November 6, 2020, the MLRB signed an order placing the five Sunday Mine Complex mine permits

into Temporary Cessation.

On November 12, 2020, a coalition of environmental groups (the “Plaintiffs”) filed a complaint against

the MLRB seeking a partial appeal of the July 22, 2020 decision by requesting termination of the Topaz Mine permit.

On December 15, 2020, the same coalition

of environmental groups amended their complaint against the MLRB seeking a partial appeal of the October 21, 2020 decision requesting

On October 9, 2020, the MLRB issued a board

order which finalized the findings of the July 22, 2020 permit hearing.

On November 10, 2020, the MLRB issued a board order which finalized

the findings of the October 21, 2020 permit hearing.

On November 6, 2020, the MLRB signed an order placing the five Sunday Mine Complex

mine permits into Temporary Cessation.

On November 12, 2020, a coalition of environmental groups (the “Plaintiffs”) filed

a complaint against the MLRB seeking a partial appeal of the July 22, 2020 decision by requesting termination of the Topaz Mine permit.

On December 15, 2020, the same coalition of

environmental groups amended their complaint against the MLRB seeking a partial appeal of the October 21, 2020 decision requesting

termination of the Topaz Mine permit.

The Company has joined with the MLRB in defense of their July 22, 2020 and October 21, 2020 decisions.

On May 5, 2021, the Plaintiff in the Topaz Appeal filed an opening brief with the Denver District Court seeking to overturn the July 22,

2020 and October 21, 2020 MLRB permit hearing decisions on the Topaz Mine permit.

The MLRB and the Company were to respond with an answer

brief within 35 days on or before June 9, 2021, but instead sought a settlement.

The judicial review process was delayed as extensions

were put in place until August 20, 2021.

A settlement was not reached and the MLRB and the Company submitted answer briefs on August 20,

The Company has joined with the MLRB in defense of their July 22, 2020 and October 21, 2020

On May 5, 2021, the Plaintiff in the Topaz Appeal filed an opening brief with the Denver District Court seeking to

overturn the July 22, 2020 and October 21, 2020 MLRB permit hearing decisions on the Topaz Mine permit.

The MLRB and the Company

were to respond with an answer brief within 35 days on or before June 9, 2021, but instead sought a settlement.

The judicial review

process was delayed as extensions were put in place until August 20, 2021.

A settlement was not reached and the MLRB and the Company

submitted answer briefs on August 20, 2021.

The Plaintiff submitted a reply brief on September 10, 2021.

On March 1, 2022, the Denver District Court reversed the MLRB’s

orders regarding the Topaz Mine and remanded the case back to MLRB for further proceedings consistent with its order.

The Company and

the MRLB had until April 19, 2022 to appeal the Denver District Court’s ruling.

Neither the Company nor the MLRB appealed the Denver

District Court ruling.

Subsequently on March 20, 2023, the MLRB issued a board order for the Company to commence final reclamation, which

upon completion will terminate mining operations at the Topaz Mine.

Reclamation is to commence immediately at the Topaz Mine and is to

be completed within five years by March 2028.

The Company is currently working toward the completion of an updated Topaz Mine Plan of

Operations which is a separate federal requirement of the BLM for the conduct of mining activities on the federal land at the Topaz Mine

and needed to re-permit the Topaz Mine with Colorado’s DRMS .

On March 1, 2022, the

Denver District Court reversed the MLRB’s orders regarding the Topaz Mine and remanded the case back to MLRB for further

proceedings consistent with its order.

The Company and the MRLB had until April 19, 2022 to appeal the Denver District Court’s

Neither the Company nor the MLRB appealed the Denver District Court ruling.

Subsequently on March 20, 2023, the MLRB issued

a board order for the Company to commence final reclamation, which upon completion will terminate mining operations at the Topaz

Reclamation is to commence immediately at the Topaz Mine and is to be completed within five years by March 2028.

is currently working toward the completion of an updated Topaz Mine Plan of Operations which is a separate federal requirement of

the BLM for the conduct of mining activities on the federal land at the Topaz Mine and needed to re-permit the Topaz Mine with

Colorado’s DRMS .

MINE SAFETY DISCLOSURES

20 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 3. Legal Proceedings