Hansen/Taylor Ranch Project

100%-owned Tallahassee Creek Uranium District development project in Fremont County, Colorado, comprising approximately 13,000 total acres — among the largest historic U.S. uranium resource holdings; Western controls the majority. Sandstone-hosted deposits at shallow depth with thick high-grade ore body in the Boyer, North Hansen, Picnic Tree and High Park areas. Last JORC Code Mineral Resource Estimate update April 23, 2014 by Ben Vallerine and Rex Bryan for Tetra Tech (originally for Black Range Minerals). Mineral resources estimated at 0.025% eU3O8 cut-off using multi-pass whole-block kriging. Potential mining methods: open-pit, ISR, borehole and underground conventional. Last development activity: five monitor wells installed and baseline water sampling program 2013-2015. Historical estimates not treated as current mineral resources by Western.