Category: Base Metals

MILLROCK RESOURCES | Financing Opportunity

Post author By admin
Post date December 10, 2018

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Base Metals Energy Precious Metals Project Generators

PROJECT GENERATOR | EMX Royalty Executes Regional Strategic Alliance Agreement with South32 Covering Arizona, New Mexico, and Utah

Post author By admin
Post date December 6, 2018

Vancouver, British Columbia–(Newsfile Corp. – December 6, 2018) – EMX Royalty Corporation (TSXV: EMX) (NYSE American: EMX) (the “Company” or “EMX”) is pleased to announce the execution of a Regional Strategic Alliance agreement (the “Agreement”) between its wholly-owned subsidiary Bronco Creek Exploration, Inc. (“BCE”), and South32 USA Exploration Inc. (“South32”), a wholly-owned subsidiary of South32 Limited. The Agreement provides annual funding for generative work and acquisitions over a two year period, as well as a framework to advance projects of interest. Generative work will focus on copper and other base metal projects within the Laramide and Tertiary magmatic arcs of Arizona, New Mexico and Utah. Projects advanced to the drill program stage may be selected as Designated Projects. Designated Projects will advance under separate option agreements providing for work commitments and cash payments to EMX during South32’s earn-in period, and upon earn-in, a 2% net smelter return (“NSR”) royalty interest and pre-production and milestone payments to EMX’s benefit. South32 has initially selected five EMX copper projects in Arizona to begin advancing toward the drill program stage. Please see the attached map and www.EMXroyalty.com for more information.

Alliance and Commercial Terms Overview (all dollar amounts in USD). Under the terms of the Agreement, which has an initial term of two years, South32 will provide annual funding for generative work performed by EMX personnel to identify properties for exploration work (“Alliance Exploration Properties” or “AEPs”) within the Regional Strategic Alliance Area of Interest (“AOI”) that consists of the states of Arizona, New Mexico, and Utah, but excludes South32’s Hermosa project in southern Arizona. EMX personnel will conduct exploration activities on AEPs with additional funding from South32 in order to identify projects suitable for designation as Designated Projects. Each Designated Project will be covered by a separate option agreement pursuant to which South32 can acquire 100% of the project on the terms described below. All generative and AEP exploration activities will be guided by a Technical Committee consisting of two members from each company.

South32 will provide $800,000 per year to cover the generative work and the salaries of EMX personnel involved in AEP exploration work. South32 will also provide a separate annual acquisition fund of $200,000 to pay for the acquisition of new properties as approved by the Technical Committee. AEP exploration work will be funded separately through cash calls to South32 in amounts directed by the Technical Committee.

Designated Project Option Agreement Terms (all dollar amounts in USD). Each option agreement covering a Designated Project will provide that South32 can earn 100% interest in the project by reimbursing EMX’s holding costs upon execution of the option agreement, and making option payments totaling $525,000 and completing $5,000,000 in exploration expenditures during the five-year term of the option agreement.

Upon exercise of the option by South32, EMX will retain an uncapped 2% NSR royalty on the project (not subject to purchase or buy down) and receive annual advance royalty (“AAR”) payments equivalent to 50,000 pounds (“lbs”) of copper commencing on the first anniversary. All AAR payments are set off against 80% of future royalty payments. In addition, South32 will make milestone payments as follows (project milestones are to NI 43-101 reporting requirements):

166,000 lbs of copper (or the cash equivalent) upon the completion of an initial resource estimate,
333,000 lbs of copper (or the cash equivalent) upon completion of a prefeasibility study, and
666,000 lbs of copper (or the cash equivalent) upon completion of a feasibility study.

Initial Alliance Exploration Projects. Five Arizona porphyry-copper projects have been selected as AEPs by South32, including Midnight Juniper, Jasper Canyon, Sleeping Beauty, Dragons Tail, and Lomitas Negras. EMX and South32 are commencing work programs on the initial AEPs, as well as initiating a generative program to identify new projects for acquisition. Note, in the following project descriptions, although the referenced nearby mines and deposits provide geologic context for EMX’s properties, this is not indicative that the EMX properties host similar endowments of mineralization.

Midnight Juniper. The Midnight Juniper project lies at the north end of the Clifton-Morenci mining district, approximately one kilometer northwest of the Morenci open pit copper mine. The project geology consists of a dissected plateau of Tertiary age volcanic cover rocks overlying a series of Paleozoic sedimentary and Proterozoic metamorphic rocks that are exposed in an arcuate pattern at lower elevations along stream courses. Paleozoic carbonate rocks contain a number of manganese oxide-rich base metal occurrences in northeast oriented vein, replacement, and breccia bodies typical of the distal expression of porphyry copper systems. EMX’s reconnaissance mapping shows that these occurrences appear to vector towards a suspected porphyry source lying under Tertiary cover rocks in the center of the Midnight Juniper land position.

Jasper Canyon and Sleeping Beauty. The Jasper Canyon and Sleeping Beauty projects are located in the Globe-Miami mining district. Both properties lie on the flanks of the Schultz Granite intrusive complex, which is associated with numerous past and current producing copper mines and deposits in the Globe-Miami and Superior mining districts. Porphyry copper deposits in this region have been dismembered by numerous post-mineral faults that displace upper levels of the mineralized systems northeastward. The Jasper Canyon and Sleeping Beauty projects lie at the east end of a northern trend of fault bounded deposits that include Pinto Valley, Diamond H and Copper Cities. The Jasper Canyon project lies along the easternmost portion of this trend and represents a fault-bounded and largely covered portion of the suspected upper levels of a porphyry copper system in a previously unexplored portion of the district. The Sleeping Beauty project lies to the west of Jasper Canyon, and directly north of the Copper Cities open pit copper mine, and is interpreted to contain down-dropped blocks of mineralization north of the Sleeping Beauty fault. Other fault-bounded copper deposits in the district at similar structural levels include Copper Cities, Miami East, Van Dyke, and Old Dominion.

Dragons Tail. The Dragons Tail project is located in the Superior mining district, approximately eight kilometers north of the Resolution copper deposit and five kilometers southwest of Pinto Valley. EMX identified a 1.6 kilometer long zone of quartz-sulfide alteration within Proterozoic sedimentary rocks during reconnaissance work. The outcrops of quartz-sulfide veining lie beneath tilted Tertiary age volcanic and conglomeratic cover rocks. Historic drilling on the east side of the property intercepted transported copper-oxide mineralized clasts within Tertiary conglomerates, which suggests the source of the copper lies to the west of the drilling and likely down dip of the mineralized exposures.

Lomitas Negras. The Lomitas Negras project is located approximately ten kilometers southeast of the town of San Manuel, in a broad area of post-mineral cover rocks. The property is ringed by Laramide-age intrusive rocks and porphyry copper/skarn deposits that include San Manuel-Kalamazoo (~20 kilometers north), Copper Creek (~25 kilometers northeast), and Oracle Ridge (~10 kilometers southwest). Nearby outcrops exhibit alteration and anomalous base metal mineralization that characteristically occurs on the margins of porphyry copper systems. EMX’s recognition of the altered outcrops, combined with a new interpretation of the extensional structural setting of the area, led to the identification of concealed porphyry copper targets beneath the post-mineralization pediment cover.

About EMX. EMX leverages asset ownership and exploration insight into partnerships that advance our mineral properties, with EMX receiving pre-production payments and retaining royalty interests. EMX complements its royalty generation initiatives with royalty acquisitions and strategic investments.

The Regional Strategic Alliance Agreement with South32 is an excellent example of the execution of EMX’s royalty generation business model. The Company’s organically generated porphyry copper projects were acquired on open ground in productive mining districts, with value established through low cost, early-stage exploration work. The Agreement’s provisions for generative funding are coupled with the future upside potential for project work commitments, pre-production payments and retained royalty interests based upon exploration success to EMX’s and South32’s mututal benefit.

Mr. Dean D. Turner, CPG, a Qualified Person as defined by National Instrument 43-101 and consultant to the Company, has reviewed, verified and approved the disclosure of the technical information contained in this news release.

-30-

For further information contact:

David M. Cole
President and Chief Executive Officer
Phone: (303) 979-6666
Email: Dave@EMXroyalty.com

Scott Close
Director of Investor Relations
Phone: (303) 973-8585
Email:SClose@EMXroyalty.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release may contain “forward looking statements“ that reflect the Company’s current expectations and projections about its future results. These forward-looking statements may include statements regarding perceived merit of properties, exploration results and budgets, mineral reserves and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as “estimate,“ “intend,“ “expect,“ “anticipate,“ “will“, “believe”, “potential” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company‘s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to: unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended September 30, 2018 (the“MD&A”), and the most recently filed Form 20-F for the year ended December 31, 2017, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the 20-F and financial statements of the Company, is available on SEDAR at www.sedar.com and on the SEC’s EDGAR website at www.sec.gov.

Figure 1: AEP projects and RSA AOI (Arizona, Utah, and New Mexico) with South32.

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To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/1508/41446_figure1new.jpg

Base Metals Energy

URANIUM | U3O8 Corp. Reports a 23% Improvement in Vanadium Extraction Over the 2014 Preliminary Economic Assessment on its Laguna Salada Uranium-Vanadium Deposit

Post author By admin
Post date December 6, 2018

oronto, Ontario–(Newsfile Corp. – December 6, 2018) – U3O8 Corp. (TSX: UWE) (OTCQB: UWEFF) (“U3O8 Corp.” or the “Company“) is pleased to report initial results of test work on the extraction of uranium and vanadium from almost a metric tonne of mineralized gravel from the wholly-owned Laguna Salada deposit in Argentina.

The test work has been designed, and results monitored, by Mr. David Marsh, director of U3O8 Corp. whom, as former General Manager – Technical Project Development at Paladin Energy, was intimately involved in the design, construction and operation of two uranium production plants in Africa. This work represents a complete overhaul of the preliminary economic assessment (“PEA”) carried out by Tenova Mining and Minerals (Australia) Pty Ltd. in 2014. Mr. Marsh, with his vast practical experience, reviewed the PEA and felt that there was room for improvement and simplification of the flowsheet and processing plant design, resulting in potential to reduce estimated capital costs (“capex”) and operating costs (“opex”).

David Marsh commented, “I am delighted with the initial results from our test work on Laguna Salada gravel. The work program was designed to test ways of reducing estimated production costs by simplifying the former PEA process flow sheet. Our first step was to optimize the washing of the fine, uranium-vanadium – bearing material off the barren pebbles. The test results show that “scrubbing” the gravel for 5 minutes produces similar results as scrubbing for the 15 minutes modelled in the PEA. This two-thirds reduction in processing time could potentially reduce the cost of the associated equipment which was estimated at US$6.2 million in the PEA.”

“Our second step aimed to extract more of the uranium and vanadium contained in the gravel, and this proved successful with vanadium recovery increasing by 23%, and uranium marginally by 2%, over the PEA.”

The original Laguna Salada PEA reported life-of-mine cash costs of approximately US$22 per pound of uranium, net of vanadium, and a net present value of US$55 million at a 7.5% discount rate, with a US$136 million capital cost.

A PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the results of the PEA assessment will be realized.

Next Steps:

There are two main components to ongoing metallurgical test work:

Continued simplification of the Laguna Salada process flow sheet:
- The life-of-mine operating cost, including royalties due to the State, were estimated at US$22 per pound of uranium, net of vanadium, in the PEA. Approximately 40% of this cost estimate is related to the management of sulphate (gypsum) that is present in the gravel, that competes with uranium and vanadium for the reagents used to leach the metals. So, finding a more cost-effective way of dealing with the sulphate is a priority in driving down production cost estimates. Alternative ways of controlling sulphate levels were examined and these results will be reported shortly;
- The PEA modelled the processing of uranium and vanadium that was concentrated in very fine-grained (<0.075 millimetre (“mm”)) powder that proved to be relatively costly to process since excess water had to be squeezed from it in filter presses that are not only expensive, but are costly to operate. The PEA design included six filter presses at a cost of US$2.1 million per unit. The current work tested a much coarser (0.85mm grain size) uranium-vanadium – bearing component of the gravel from which excess water should drain much more readily, thereby likely reducing the number of filter presses required. Results of this work are also expected shortly;
- Test work is now planned for the uranium/vanadium separation and refining processes where there is further potential to reduce capex and opex. More efficient and proven processes and equipment successfully employed elsewhere on similar types of uranium/vanadium mineralized bodies will be tested and the expectation is that they will prove every bit as efficient with the Laguna Salada material; and
Initial metallurgical test work is being done on unconsolidated sand and gravel samples from the relatively high-grade channels discovered beneath the layer of gravel on which the PEA was based. This will provide the first data as to how efficiently uranium and vanadium can be extracted from the channel fill. Results are expected in early January.

Technical Details of Test Work:

1. Bulk Sample

Approximately 950 kilograms of gravel was excavated from within three metres of surface from five locations within the resource footprint in the Guanaco sector of the Laguna Salada Deposit. Guanaco contains 94% of the total Laguna Salada resource tonnage (an Indicated and Inferred resource) and 87% of the contained Uranium. The material was bagged and shipped to Australian Nuclear Science and Technology Organisation (“ANSTO”) in Australia. The sample was homogenized prior to commencing the test work.

2. Test Work Aimed at Simplifying the Process Flow Sheet

Scrubbing at Laguna Salada refers to removal of fine uranium-vanadium – bearing powder that coats barren pebbles in the gravel. The scrubbed material was then screened to separate the pebbles from the fine component into which most of the uranium and vanadium is concentrated.

The flowsheet generated for the PEA involved a gravel-scrubbing process followed by screens and cyclones to separate the extremely fine (0.075mm) material from the gravel, along with two stages of filtration ahead of the uranium/vanadium leach circuit. David Marsh commented, “There is scope to simplify the process flowsheet making the future plant easier to operate.”

The recent work at ANSTO suggests that this circuit can be greatly simplified as follows:

Refining of the scrubbing process has reduced the residence time in the scrubbers from 15 minutes to only 5 minutes which will make the equipment smaller, cheaper and easier to operate as well as making the units more mobile;
Changing the cut-point after scrubbing to a 0.85mm screen separates the coarse, pebbly component of the gravel that constitutes 77% of its mass, from the <0.85mm material that represents 23% of the gravel’s mass. Although using the <0.85mm material involves processing almost three times the volume of material contemplated in the PEA, the size of the downstream equipment would increase only marginally because of the shorter residence time in each component of the equipment. Subsequent filtration and dewatering processes are likely to be simpler and should result in an overall cost reduction and improved process efficiencies (filtration results will be reported on shortly);
The <0.85mm material contains 89% of the original gravel’s uranium compared with 85% in the <0.075mm material modelled in the PEA. Alkaline leach extracted 94% of the contained uranium versus a marginally better 95% in the test work incorporated in the PEA. Overall, 84.5% of the gravel’s uranium was extracted from the 0.85mm material, compared with 82.5% in the PEA – an increase of 2%.
46% of the gravel’s vanadium was concentrated into the <0.85mm component against 29% in the 0.075mm component used in the PEA model. Alkaline leach at ANSTO extracted 55% of the vanadium, lower than the 71% extraction used in the PEA. However, processing of the coarser 0.85mm material still led to a better vanadium recovery: 25% of the gravel’s vanadium was recovered from the 0.85mm material against 21% for the 0.075mm material used in the PEA – an increase of 23%;

Table 1. Summary of beneficiation and alkaline leach tests on <0.85mm material from a bulk sample of gravel from the Guanaco sector of the Laguna Salada Deposit.

Study	% of gravel’s mass in fine-screened component	Uranium			Vanadium
Study	% of gravel’s mass in fine-screened component	% of metal in fine-grained component of gravel	% of metal extracted by alkaline leach	% overall extraction	% of metal in fine-grained component of gravel	% of metal extracted by alkaline leach	% overall extraction
PEA	9%	85%	95%	82.5%	29%	71%	21%
Bulk sample	23%	89%	94%	84.5%	46%	55%	25%
Difference	260%			2%			23%

3. Alkaline Leach

The alkaline leach was done at a temperature of 80 degrees Celsius (175 degrees Fahrenheit) for 8 hours and maximum extraction of 94% was achieved after 6 hours.

Technical Information & Cautionary Note

The technical report referred to in this press release is entitled:

September 18, 2014 technical report: “Preliminary Economic Assessment of the Laguna Salada Uranium Vanadium Deposit, Chubut Province, Argentina.” The report is available on www.sedar.com and www.u3o8corp.com.

Dr. Richard Spencer, P.Geo., CGeol., President and CEO of U3O8 Corp. and a Qualified Person as defined by National Instrument 43-101, has approved the technical information in this news release relating to the Laguna Salada Deposit and the related PEA.

About U3O8 Corp.

U3O8 Corp. is focused on exploration and development of deposits of uranium and battery commodities in South America. Battery commodities that occur with uranium resources include vanadium, nickel, zinc and phosphate. The Company’s mineral resources estimates were made in accordance with National Instrument 43-101, and are contained in the following deposits:

Laguna Salada Deposit, Argentina – a PEA shows that this near surface, free-digging uranium-vanadium deposit has low production-cost potential; and
Berlin Deposit, Colombia – a PEA shows that Berlin also has low-cost uranium production potential due to revenue that would be generated from by-products of phosphate, vanadium, nickel, rare earths (yttrium and neodymium) and other metals that occur within the deposit.

Additional Information

Information on U3O8 Corp., its resources and technical reports are available at www.u3o8corp.com and on SEDAR at www.sedar.com. Follow U3O8 Corp. on Facebook: www.facebook.com/u3o8corp, Twitter: www.twitter.com/u3o8corp and YouTube: www.youtube.com/u3o8corp.

For further information, please contact:

Carolina Diaz at carolina@u3o8corp.com or phone (416) 868-1491 or Richard Spencer, President & CEO, U3O8 Corp., Tel: (647) 292-0225 richard@u3o8corp.com

Forward-Looking Statements

This news release includes certain “forward looking statements” related with the development plans, economic potential and growth targets of U3O8 Corp’s projects. Forward-looking statements consist of statements that are not purely historical, including statements regarding beliefs, plans, expectations or intensions for the future, and include, but not limited to, statements with respect to: (a) the low-cost and near-term development of Laguna Salada, (b) the Laguna Salada and Berlin PEAs, (c) the potential of the Kurupung district in Guyana and (d) the price and market for uranium. These statements are based on assumptions, including that: (i) actual results of our exploration, resource goals, metallurgical testing, economic studies and development activities will continue to be positive and proceed as planned, and assumptions in the Laguna Salada and Berlin PEAs prove to be accurate, (ii) requisite regulatory and governmental approvals will be received on a timely basis on terms acceptable to U3O8 Corp., (iii) economic, political and industry market conditions will be favourable, and (iv) financial markets and the market for uranium will improve for junior resource companies in the short-term. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in such statements, including, but not limited to: (1) changes in general economic and financial market conditions, (2) changes in demand and prices for minerals, (3) the Company’s ability to establish appropriate joint venture partnerships, (4) litigation, regulatory, and legislative developments, dependence on regulatory approvals, and changes in environmental compliance requirements, community support and the political and economic climate, (5) the inherent uncertainties and speculative nature associated with exploration results, resource estimates, potential resource growth, future metallurgical test results, changes in project parameters as plans evolve, (6) competitive developments, (7) availability of future financing, (8) exploration risks, and other factors beyond the control of U3O8 Corp. including those factors set out in the “Risk Factors” in our Annual Information Form available on SEDAR at www.sedar.com. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. U3O8 Corp. assumes no obligation to update such information, except as may be required by law. For more information on the above-noted PEAs, refer to the September 18, 2014 technical report titled “Preliminary Economic Assessment of the Laguna Salada Uranium-Vanadium Deposit, Chubut Province, Argentina” and the January 18, 2013 technical report titled “U3O8 Corp. Preliminary Economic Assessment on the Berlin Deposit, Colombia.”

Base Metals Precious Metals Project Generators

PROJECT GENERATOR | How the Royalty Generator Was Built

Post author By admin
Post date December 4, 2018

Base Metals

JUNIOR MINING | Miramont Receives Drilling Permit for Cerro Hermoso

Post author By admin
Post date December 4, 2018

Vancouver, British Columbia–(Newsfile Corp. – December 4, 2018) – Miramont Resources Corp. (CSE: MONT) (OTCQB: MRRMF) (FSE: 6MR) (“Miramont” or the “Company”) is pleased to announce that it has received the required drilling permit for its Cerro Hermoso project in southern Peru. The Company anticipates drilling to begin early in the New Year.

Bill Pincus, Miramont’s President and CEO said, “We are very happy to begin our drill program at this exciting prospect. Our geologists have worked long and hard to advance this project and surface exploration continues to yield more and more evidence of widespread mineralization. It’s now time to test it with the drill rig.”

“Miramont also knows that working with the local community is vital. Our team makes a substantial effort in this area and is fortunate to have a positive working relationship with all local parties. We are glad to have their support and will work hard to maintain it.”

Cerro Hermoso is a large diatreme-hosted system with various styles of copper, gold and silver mineralization found in a four square kilometer area. It has many similar characteristics to other diatreme systems that are known to host large bulk-tonnage polymetallic deposits. Three priority drill targets have been identified by a combination of geologic mapping, geochemical sampling and geophysical prospecting. These are known as the Central Breccia Zone (Gold), the Stockwork Zone (Copper/Silver) and the Carbonate Replacement Zone (Copper/Silver). All three targets will be tested in the upcoming program. Further information can be found on the Company’s website.

Miramont has contracted AK Drilling International to conduct the first-phase diamond-core drilling program and is now coordinating mobilization of the drill rig. The Company has also completed construction of a core-shack and related infrastructure.

National Instrument 43-101 Disclosure

The technical content of this news release has been reviewed and approved by Mr. William Pincus, CPG, President and CEO of Miramont and a Qualified Person as defined by National Instrument 43-101.

About Miramont Resources Corp.

Miramont is a Canadian based exploration company with a focus on acquiring and developing mineral prospects within world-class belts of South America. Miramont’s key assets are located in southern Peru. The Cerro Hermoso property hosts a 1.4km diameter breccia pipe targeting gold – polymetallic mineralization, while the Lukkacha property is targeting porphyry copper mineralization.

On behalf of the Board of Directors,
MIRAMONT RESOURCES CORP.

“William Pincus”

William Pincus, President and CEO

For more information, please contact the Company at:
Telephone: (604) 398-4493
info@miramontrresources.com
www.miramontresources.com

Reader Advisory

This news release may contain statements which constitute “forward-looking information”, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward-looking statements as a result of various factors, including, but not limited to, fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Base Metals Energy Precious Metals Project Generators

PROJECT GENERATOR | EMX Royalty Provides Additional Disclosure on Discretionary Bonuses

Post author By admin
Post date November 30, 2018

Vancouver, British Columbia–(Newsfile Corp. – November 30, 2018) – EMX Royalty Corporation (TSXV: EMX) (NYSE American: EMX) (the “Company” or “EMX”)provides additional disclosure regarding the US$3.8 million in bonuses announced in its asset portfolio and corporate update on November 28, 2018. This additional disclosure includes a summary of the rationale, approval process, recipients, and allocations related to the bonus.

Bonus Rationale

The Board awarded the bonuses to EMX’s management and staff in respect of their seven years of effort to monetize the Company’s investment in IG Copper LLC (“IGC”). Their efforts included:

(1) identification of the investment opportunity;
(2) providing significant technical oversight towards the discovery of a world class copper deposit at Malmyzh;
(3) raising the capital necessary to advance Malmyzh despite challenging markets and jurisdictional risks;
(4) coordinating the sales effort for Malmyzh over a period of several years;
(5) managing an exit with Freeport, including arranging an US$18.5 million bridge loan, which led to a greater return for all of IGC’s shareholders, not the least of which was EMX 40% shareholding; and
(6) assisting IGC with the successful sale of Malmyzh to a wholly owned subsidiary of Russian Copper Company (“RCC”) in October for US$200 million.

The transaction with RCC took 10 months to complete and required numerous complicated steps, including obtaining approval from the Russian Federal Anti-Monopoly Service. The successful outcome was due, in large part, to the significant efforts of EMX’s team, IGC’s team, and IGC’s advisors, Scotia Bank Europe plc and the London office of Norton Rose Fulbright LLP. In the opinion of EMX’s Board of Directors, this was sound and proper rationale for the bonuses paid.

Bonus Approval Process

Prior to the Malmyzh sales transaction, EMX’s management had developed a bonus plan for strategic investments whereby 7.5% of the after-tax profits of an individual investment could be paid as a bonus to EMX’s management and staff. As part of the bonus calculation, the Company’s cost basis was increased annually by 10% to reflect the time value of the investment.

The strategic investment bonus calculation, along with management’s recommended allocation of bonuses, was then submitted to the Compensation Committee of EMX’s Board for its review. The Compensation Committee is comprised of three independent directors. The Committee met several times over the past four months, both with management and independently of management, as part of the approval process. The Committee recommended the US$3.8 million bonus pool and allocation to the Company’s Board. The independent members of the Board unanimously approved the bonus pool and allocation with Dave Cole and Michael Winn abstaining from voting.

Bonus Allocation

The Board has awarded the bonuses to EMX’s Chairman and all of EMX’s management and staff (which includes support staff in Vancouver provided by Seabord Services Corp). Bonuses were not paid outside the Company.

The two largest awards were paid to David Cole and Michael Winn as they actively managed the Company’s investment in IGC for the past seven years. The Compensation Committee also felt it was important to award significant bonuses to senior management regardless of time spent on the investment as a win of this type is a team effort. The bonus allocations are as follows:

Name	Position	Amount (US$)
David M. Cole¹	President & CEO	1,100,000
Michael Winn¹	Chairman of the Board	1,000,000
Eric Jensen¹	General Manager – Exploration	400,000
Dave Johnson¹	Chief Geologist	400,000
Christina Cepeliauskas	Chief Financial Officer	175,000
Jan Steiert	Chief Legal Officer	175,000
Other EMX Staff		560,000
TOTAL		3,810,000

¹ A portion of the bonuses to be paid to Dave Cole, Michael Winn, Eric Jensen,and Dave Johnson will be paid once the Company receives the final distribution by IGC related to escrowed funds.

The recent advancements of the Company’s asset portfolio underscore EMX’s focus on steadily increasing global revenue streams from strategic investments, royalties, and other payments. The Company’s goal is to substantially grow our cash flowing royalty portfolio while providing multiple opportunities for exploration and production success.

For further information contact:

David M. Cole
President and Chief Executive Officer
Phone: (303) 979-6666
Email: Dave@EMXroyalty.com

Scott Close
Director of Investor Relations
Phone: (303) 973-8585
Email:SClose@EMXroyalty.com

Forward-Looking Statements

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended September 30, 2018 (the“MD&A”), and the most recently filed Form 20-F for the year ended December 31, 2017, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the 20-F and financial statements of the Company, is available on SEDAR at www.sedar.com and on the SEC’s EDGAR website at www.sec.gov.

Base Metals

JUNIOR MINING | Group Eleven Announces Inferred Mineral Resource at Ballinalack of 5.4Mt at 8.7% Zn+Pb, located 50 km from Europe’s Largest Zinc Mine

Post author By admin
Post date November 28, 2018

Vancouver, Canada, November 28, 2018 – Group Eleven Resources Corp. (TSX.V: ZNG; OTCQB: GRLVF; FRA: 3GE) (“Group Eleven” or the “Company”) is pleased to announce an updated Mineral Resource Estimate (“MRE”) for the Company’s Ballinalack zinc project in Ireland. The estimate was prepared by CSA Global (UK) Ltd. (“CSA Global”) under contract to SLR Environmental Consulting (Ireland) Ltd. (“SLR”) and was based on recent drilling by Group Eleven, as well as, historic drilling from the 1970s onwards. Ballinalack is a joint venture between Group Eleven (60%-interest) and Shenzhen Zhongjin Lingnan Nonfemet Company Limited (“Nonfemet”, 40%-interest), one of the largest zinc producers in China. The Project is located 50 kilometres from Boliden’s substantial Navan (Tara) zinc mine.
“We are very pleased with this first NI43-101 Mineral Resource estimate on the project as it demonstrates concrete progress at Ballinalack. Specifically, we are delighted that the average grade of the MRE is significantly higher than the historic estimate from 1991 and that the metal content, despite a higher cut-off, remains above a billion pounds of zinc and lead” stated Bart Jaworski, CEO. “Furthermore, the deposit is open along and across strike, corroborating our recent drilling which helped identify four targets in the lower Navan Beds, three of which already contain strongly mineralized historic intercepts.”
“Strategically, it is important to remember that Ballinalack is located only 50 kilometres from Boliden’s giant Navan zinc mine – the largest zinc mine in Europe. With the Ballinalack MRE completed, we now have a springboard from which to focus on significant discovery both near the deposit and regionally as part of our ongoing ‘Big Think’ initiative.”
The Ballinalack project contains estimated Inferred Mineral Resources of 5.4 million tonnes grading 8.7% Zn+Pb combined (7.6% zinc and 1.1% lead) and 9.0 g/t silver (see Exhibit 1). This represents the Company’s second resource after the maiden Inferred Mineral Resource announced on the 76.56%-interest Stonepark project, also located in Ireland (see news release dated April 17, 2018).
Exhibit 1. Summary table of Mineral Resource at Ballinalack zinc project, Ireland

Resource Category	Tonnes	Grades			Metal Content (pounds)
	(‘000)	Zn (%)	Pb (%)	Zn+Pb (%)	Zn (mln)	Pb (mln)	Zn+Pb (mln)
Inferred	5,400	7.6	1.1	8.7	898	136	1,034

Note: See ‘Important Notes’ on Page 2 for additional notes regarding Mineral Resource reporting parameters and assumptions.
Mineralization is near-surface, occurring at depths ranging from 10 metres to 300 metres, and dips 15° to 20° to the north. The deposit shows reasonable continuity of mineralization and consists of sub-horizontal, strata-bound (5 to >30 metres thick) lenses of massive and semi-massive sphalerite and galena within the Waulsortian limestone. SLR and CSA Global comment that the deposit is open along and across strike and recommend additional step-out drilling to potentially augment the resource estimate. The study also states that the ‘greenfields’ exploration ground at the Ballinalack project has significant potential for further discovery.
The updated NI 43-101 technical report on the Ballinalack project will be published and submitted to SEDAR within 45 days of this news release.
Further Details on Ballinalack Mineral Resource Estimate
The MRE was based on 102 diamond drill holes totalling 26,042 metres. The average drill spacings are 40m by 40m. The MRE has an effective date of August 30, 2018 and is reported at a zinc equivalent (ZnEq) cut-off grade of 5.2%, based on NSR (net smelter return) calculations of conceptual operating costs and metal revenue, and indicates reasonable prospects for eventual economic extraction. NSR-based cut-off grades tend to fluctuate based on changes in global metal prices. For reference, the cut-off in the historic estimate from 1991¹ was 4% zinc.
Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. No economic study has been completed over the project and NSR calculations are conceptual in nature and used only as the basis for determining reasonable chances of eventual economic extraction, a requirement of mineral resource disclosure.
The average grade of silver as part of the MRE was 9.0 g/t. This is a conservative estimate based on the fact that a portion of intercepts used to define the MRE were not historically assayed for silver. These were recorded as 0 g/t silver in the database and as such were assumed by CSA Global to be below detection limit and set to 0.25 g/t silver (representing half of detection limit) during estimation.
For further information on the four Navan Bed targets identified by Group Eleven after recent drilling, please refer to news release dated August 7, 2018.
Important Notes (Mineral Resource at Ballinalack zinc project, Ireland)
Classification of the Ballinalack MRE was completed based on the guidelines presented by Canadian Institute for Mining (CIM), adopted for Technical reports which adhere to the regulations defined in Canadian National Instrument 43-101 (NI 43-101).

Inferred Mineral Resources are at 5.2% zinc equivalent cut-off grade.
Zinc Equivalent (ZnEq%) = (NSRPb + NSRZn + NSRAg in Pb + NSRAg in Zn)*100/(RZn*PZn* (PrZn-ScZn) – RZn*PZn*PrZn*(RoyZn/100))
ZnEq cut-off grade (calculated from Net Smelter Return) using the following parameters:
- RZn: Metallurgical recovery of Zn, PZn: Zn price, ScZn: Selling cost for Zn, RoyZn: Royalty.
- Mining recovery of 95%; Mining dilution of 10%
- Mining cost of US$60.00/t; Processing cost of US$13.63/t
- Treatment charges of US$400/t of Zn concentrate and US$270/t of Pb concentrate; Refining charges of US$1.00/oz for Ag
- Concentrate transport to smelter: US$100/t of wet concentrate.
- Processing recovery 92.7% Zn; 54.1% Pb; 82.6% Ag in Zn; 9.4% Ag in Pb.
- Zinc price of US$2,954/t; Lead price of US$2,325/t; Silver price of US$15.79/oz
- Concentrate grade 64.4% Zn, 45% Pb, 98 g/t Ag in Zn, 104 g/t Ag in Pb; Concentrate moisture of 9%
- Payable Zn 85%, Pb 93%, Ag in Zn 49%, Ag in Pb 51.9%, with selling cost Zn US$1,259/t metal, Pb US$1,026/t metal, Ag in Zn US$6.73/t metal, and Ag in Pb US$6.97/t metal.
- Royalty of 4.5%.
The Inferred Mineral Resource classification is based on geology, trends in mineralisation, drilling spacing, sampling QA/QC, estimation search pass number and number of samples, and zinc equivalent grade.
Tonnages and metal are rounded to the nearest 100,000 to reflect this as an estimate.
Assumed average in situ dry bulk density for mineralised material is 3.05 t/m3.
Mineralisation wireframes were constructed using a minimum true thickness of 2.0 m, at 3% Zn+Pb natural cut-off.
CSA Global is not aware of any known environmental, permitting, legal, title, taxation, socio-economic, marketing, political, or other relevant factors that could materially affect the MRE.

Qualified Person
Dr Belinda van Lente, a Qualified Person as defined by NI 43-101, independent of the Company, has reviewed and approved the scientific and technical information as related to the preparation and reporting of the Mineral Resource set out in this news release. Dr van Lente is a resource geologist with over 13 years of industry experience, both in a consulting and production environment. Her experience includes Mineral Resource Estimates and audits on various commodities. She has extensive experience in the practical application of estimation methods, standards and procedures used in the creation and declaration of Mineral Resource estimates and is a Member of the Geological Society of South Africa (GSSA) and the South African Council for Natural Scientific Professions (SACNASP).
Quality Assurance / Quality Control (QA/QC)
CSA Global’s Qualified Person has reviewed the QA/QC data and considers that the data support the use of the drillhole data in a Mineral Resource estimate to be reported specific to the standards dictated by NI 43-101 and Form 43-101F1 (Standards of Disclosure for Mineral Projects).CSA Global’s Qualified Person has reviewed the QA/QC data and considers the data to be fit-for-purpose to support reporting of a Mineral Resource in accordance with NI 43.101.
About Group Eleven Resources
Group Eleven Resources Corp. (TSX.V: ZNG; FRA: 3GE and OTC: GRLVF) is focused on zinc exploration in Ireland. The Company’s large land package (99 prospecting licenses totalling 3,200 square kilometres) allows Group Eleven to leverage new geological thinking and geophysical technology to systematically rethink key aspects of the Irish zinc district. Key projects include Ballinalack (with Joint Venture partner Nonfemet), Stonepark (with Joint Venture partner Connemara Mining), Silvermines and Tralee. The Company’s team includes accomplished mining professionals with direct experience in finding mines, building companies and exploring Irish zinc deposits.
Additional information about the Company is available at www.groupelevenresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Bart Jaworski, P.Geo.
Chief Executive Officer
For more information, please contact:
Spiros Cacos, MA
Vice President, Investor Relations
E: s.cacos@groupelevenresources.com | T: +1 604 630 8839
Cautionary Note Regarding Forward-Looking Information
This press release contains forward-looking statements within the meaning of applicable securities legislation. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of the Company, including the timing, content, cost and results of proposed work programs, the discovery and delineation of mineral deposits/resources/ reserves and geological interpretations. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located. All of the Company’s public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company’s mineral properties, and particularly the technical report entitled “NI 43-101 Independent Report on a Base Metal Exploration Project at Ballinalack, Co. Westmeath, Ireland” with an effective date of November 20, 2017 by John Kelly and Paul Gordon (SLR Consulting Ireland) with respect to the Ballinalack project.

¹ A historical estimate of 7.7 million tonnes grading 6.3% zinc + 1.0% lead (7.3% combined) was previously disclosed on the Ballinalack project. The historical estimate is described in a report prepared by the Robertson Group plc in 1991 and is classified under the “IMM Definition of Terms for Reporting Assets” as an “Indicated Mineral Resource,” using a 4.0% zinc cut-off.

Base Metals Energy Precious Metals Project Generators

PROJECT GENERATOR | EMX Royalty Provides An Asset Portfolio And Corporate Update

Post author By admin
Post date November 28, 2018

Vancouver, British Columbia–(Newsfile Corp. – November 28, 2018) – EMX Royalty Corporation(TSXV: EMX) (NYSE American: EMX) (the“Company” or “EMX”) is pleased to provide an update on advancements of the Company’s royalty and mineral property portfolio that totals over 90 projects on five continents. These assets provide revenue from royalty, pre-production and other payments, as well as upside optionality from operator funded projects. EMX’s diversified business model of royalty generation, royalty acquisition, and strategic investment provides multiple avenues for growing the Company’s portfolio and building shareholder value. Please see the global portfolio map below and www.EMXroyalty.com for more information.

(Figure 1) Note: Annotated projects with stars are discussed in this news release.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/1508/41299_d258ece7349f59b2_002full.jpg
IG Copper Strategic Investment
EMX received its initial cash distribution of US $65.15 million from IG Copper LLC’s (“IGC”) sale of the Malmyzh project (“Malmyzh” or the “Project”) located in Far East Russia^[1]. EMX’s strategic investment in IGC resulted from the Company’s recognition of Malmyzh in 2011 as an early-stage copper-gold porphyry opportunity with excellent discovery potential. EMX took a disciplined investment approach by backing IGC’s steady advancement of the Project over the years. This work included the early-stage exploration work that led to the discovery of the Malmyzh district, and the drill intensive programs that progressed the Project through resource definition and approvals in the Russian Federation. The execution of these programs, with strong financial and management backing from EMX, culminated in the sale of Malmyzh to Russian Copper Company for US $200 million, of which US $190 million has been released from escrow. The remaining US $10 million from the sale is being held in escrow, and subject to certain conditions, cash distributions of up to US $4 million will be made to EMX as funds are released over the next 12 months.
Royalty and Royalty Generation Properties
EMX’s royalty property interests include Leeville in Nevada, the Timok Project’s Cukaru Peki deposit in Serbia, and properties being advanced by operating companies in Turkey, the western U.S., and Scandinavia. EMX’s royalty generation programs are filling the mineral property pipeline with new acquisitions on open ground in geologically prospective regions.
North America. There are 38 properties in the portfolio, of which fifteen are royalties or optioned for an EMX royalty interest, as well as other consideration to the Company’s benefit. The Company advances the western U.S. royalty generation portfolio through its wholly-owned subsidiary Bronco Creek Exploration (“BCE”).

(Figure 2)
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/1508/41299_d258ece7349f59b2_003full.jpg

EMX’s Leeville 1% gross smelter return royalty covers portions of Newmont Mining Corporation’s (“Newmont”) Northern Carlin Trend underground mines, including the Leeville and Turf operations. Newmont produced ~358 royalty gold ounces from Leeville in Q3 providing production royalty revenue to EMX of ~US $435,500. Royalty production was sourced from Leeville (65%) and Turf (35%). Newmont is exploring a trend of gold mineralization that extends southeast from the Leeville mining complex, and is partially covered by EMX’s royalty position. As discussed by Newmont, this trend, which includes the Rita K and Full House projects, is an important contributor to its Northern Carlin Trend underground resource and reserve development strategy. In addition, Newmont has highlighted “strong results South and West of Four Corners” and the “NE upside potential subparallel to the West Bounding Fault”, both of which include areas covered by the Leeville royalty property^[2].
EMX has a 2% net smelter return (“NSR”) royalty covering the Hardshell Skarn claim block, which is part of South32 Limited’s (“South32”) Hermosa property in southern Arizona. The Hermosa property’s Taylor zinc-lead-silver carbonate replacement development project is directly north of EMX’s Hardshell Skarn royalty claim block. In Q3, the project’s previous owner, Arizona Mining Inc. (“AMI”), announced the completion of the plan of arrangement whereby South32 acquired all of the issued and outstanding common shares of AMI^[3]. South32 expects to invest approximately US $100 million at the Taylor project in the 2019 fiscal year^[4]. To date, two angle diamond drill holes have intersected high grade polymetallic zinc-lead-silver mineralization within EMX’s royalty claim block^[5].
Anglo American concluded phase I reconnaissance drilling at the Copper Springs property in Arizona, which is under an option agreement with EMX. The program consisted of four holes totaling over 5,700 meters that tested concealed porphyry targets. The alteration and mineralization assemblages observed from bedrock intercepts are encouraging. Anglo American advises that it is planning a phase II follow-up program of additional geophysics and drilling. EMX optioned Copper Springs to Anglo American for cash payments and work commitments, and upon Anglo American’s earn-in for 100% interest in the project EMX will receive additional payments and retain a 2% NSR royalty interest^[6].
EMX’s option agreement for the Greenwood Peak project in Arizona with a wholly owned subsidiary of Antofagasta plc (“Antofagasta”) was terminated in Q3. Earlier in 2018, Antofagasta concluded a three hole, 1,035 meter reconnaissance drill program to test a concealed porphyry target, and intersected weak alteration in bedrock. EMX has dropped the property due to a lack of encouraging results.
EMX’s generative work focused on new copper and gold targets in Arizona, the Great Basin, and Wyoming. The Company also completed property reviews with potential partners, and is in discussions with several groups for the available North American projects, as well as for regional generative alliances.

Turkey. EMX holds five royalty properties, including Akarca, Balya, and Sisorta, as well as two available royalty generation projects in Turkey’s Western Anatolia and Eastern Pontides mineral belts.

(Figure 3)
To view an enhanced version of Figure 3, please visit:
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Çiftay İnşaat Taahhüt ve Ticaret A.Ş. (“Çiftay”), the owner of the Akarca gold project, made the fourth pre-production payment of ~US $610,000 to EMX (the cash equivalent of 500 troy ounces of gold) in Q3. Receipt of this payment leaves a pre-production total of 5,000 ounces of gold (or the cash equivalent) to be paid to EMX by Çiftay on a schedule of 500 ounces every six months. EMX retains a sliding scale royalty (subject to certain deductions) ranging from 1% to 3% for gold production from the property^[7]. Çiftay advises that a scoping study is underway that includes diamond drill results announced earlier in 2018, such as 9.5 meters averaging 50.30 g/t gold and 29.2 g/t silver in the Arap Tepe “Zone C” area (true width ~85-95% of intercept length)^[8]. Çiftay advises that its follow-up 2018 exploration programs are awaiting drill permits.
At the Balya lead-zinc-silver royalty property, Turkish owner Dedeman Madencilik San ve Tic. A.S. (“Dedeman”) advised that it is continuing with its ~25,000 meter step-out drill campaign to fill in a ~500 meter long corridor between mineralization at Hastanetepe, where underground development work has been concentrated, and the Southern Zone target area. Dedeman provided EMX with initial results from the program, which included 12.75 meters averaging 11.39% lead, 5.92% zinc and 225.18 g/t silver in hole DB108-B (true width ~95% of intercept length), as well as other intercepts in nearby holes at Hastanetepe^[9]. EMX has an uncapped 4.0% NSR royalty interest covering Balya.
The Sisorta gold project’s Turkish owner, Bahar Madencilik Sinayi ve Ticaret Ltd Sti (“Bahar”), advised Environmental Impact Assessment (“EIA”) work is ongoing under the mine permitting process in Turkey. Once complete, Bahar intends to continue applying for the permits necessary for project development. EMX has an uncapped 3.5% to 5.0% NSR royalty interest covering Sisorta.

Serbia. EMX has a 0.5% NSR royalty covering the Timok Project’s Cukaru Peki copper-gold deposit^[10]. Nevsun Resources Ltd (“Nevsun”) controls the Timok Project’s high-grade Upper Zone (characterized by epithermal-style mineralization), and is in a joint venture with Freeport-McMoRan on the Project’s Lower Zone (characterized by porphyry-style mineralization). Nevsun announced a friendly, all cash agreement in Q3 to be acquired by Zijin Mining Group Co. Ltd. of China for US $1.41 billion^[11].

(Figure 4)
To view an enhanced version of Figure 4, please visit:
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Nevsun filed a technical report on the initial inferred resource for the Lower Zone porphyry project of 1.659 billion tonnes averaging 0.86% copper and 0.18 g/t at a “dollar equivalent” cut-off of US $25/tonne^[12]. The Lower Zone porphyry “ranks high in grade, size and contained metal for porphyry copper deposits worldwide” according to Nevsun. Nevsun’s technical report also included the previously announced Upper Zone Pre-Feasibility Study that outlined a 10 year mine life yielding approximately 1.7 billion pounds of payable copper and 516 thousand ounces of payable gold^[13]. Initial Upper Zone production is estimated by Nevsun to be in 2022. Nevsun has stated that “There are multiple high grade Upper Zone style exploration targets above the Lower Zone and our exploration licenses have the potential to host entirely new porphyry systems with associated high grade Upper Zone style mineralization.”
EMX’s royalty properties in the Timok Magmatic Complex add significant upside potential from one of the world’s top copper development projects.
Scandinavia. EMX’s portfolio in Scandinavia totals over 35 royalty and royalty generation properties in Sweden and Norway. The Company has converted multiple properties to royalty and equity interests, while adding value via early-stage exploration to royalty generation properties that are available for partnership.

(Figure 5)
To view an enhanced version of Figure 5, please visit:
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EMX has eight royalty properties sold to, and operated by Boreal Metals Corp. (“Boreal”) and Boreal Energy Metals Corporation (“BEMC”), a subsidiary of Boreal. The sale of the properties included uncapped 3% NSR royalty interests, equity interests in Boreal and BEMC, annual advance royalty payments, and other consideration to EMX’s benefit. The properties consist of polymetallic, cobalt, nickel, and copper projects. In Q3, Boreal a) commenced exploration programs at the Tynset volcanic massive sulfide (“VMS”) project in Norway, b) identified prospective geophysical targets at the Gumsberg VMS project in Sweden, and c) commenced a 1,000 meter reconnaissance diamond drill program at the Burfjord copper-gold project in Norway^[14]. EMX provided technical assistance for this work on a 100% reimbursed consulting basis.
At the Riddarhyttan iron oxide copper-gold (“IOCG”) and massive sulfide project in Sweden, which is optioned to South32, EMX conducted geologic mapping, geochemical sampling, and geophysical surveys during Q3 on a 100% reimbursed basis. The geophysical work included high resolution VTEM^TM(airborne time-domain electromagnetic) and aeromagnetic surveys over the entire Riddarhyttan license area. These new data are being used to generate drill targets on the project. Riddarhyttan was optioned to South32 for cash payments and work commitments to earn a 100% interest in the project, and upon earn-in, EMX will receive annual advance royalty and milestone payments in addition to a 3% NSR royalty interest^[15]. Riddarhyttan is the locality where the element cobalt was first discovered and recognized, and is also the type locality of certain rare earth elements and related minerals.
Geochemical sampling and geophysical surveying was conducted in Q3 at the Slättberg nickel-copper-cobalt project in Sweden, which is optioned to Sienna Resources Inc. (“Sienna”). This work followed-up on Sienna’s earlier drill program that returned intercepts including 2.8 meters averaging 1.05% nickel, 1125 ppm cobalt and 0.79% copper in hole SIE-18-3 (true width 60-70% of reported interval length)^[16]. Slättberg was optioned to Sienna for share equity in Sienna, and upon Sienna’s earn-in through work commitments for 100% interest in the project, additional share equity will be due and EMX will retain a 3% NSR royalty on the project^[17].
Geochemical sampling and geophysical surveys were completed over a number of EMX’s “Gold Line” licenses in the Skellefteå area in central Sweden. Multiple geochemical sampling techniques were tested in orientation surveys across several areas with historic, drill-defined zones of gold mineralization. Results are pending, but this work is intended to identify methods appropriate for recognizing additional zones of gold mineralization hidden beneath shallow glacial till cover. Ground based magnetic surveys and extensive stream sediment sampling surveys were also conducted across the project areas. Preliminary stream sediment data have highlighted drainages with newly recognized anomalous gold signatures. Follow-up work, including additional geophysical surveys and surface sampling and mapping, will take place in the winter months and into the spring and summer of 2019.

Other Assets. EMX’s portfolio in Australia and New Zealand consists of orogenic gold, epithermal gold-silver, sediment hosted stratabound copper, and copper-zinc skarn royalty and royalty generation projects. EMX’s organically generated 0.5% NSR royalty portfolio in Haiti covers gold and copper exploration properties held by Newmont Ventures Limited, as well as the Grand Bois project which is controlled by a privately held Nevada corporation.
Other Company News. EMX is pleased to announce the appointment of Lori Pavle as Corporate Secretary, taking on the position previously held by Marien Segovia. EMX thanks Ms. Segovia for her service to the Company, and extends best wishes for her future endeavors. Ms. Pavle has over 20 years of experience in the administration of natural resource companies listed on the TSX and TSX Venture exchanges, with appointments that included Corporate Secretary, Corporate Administrator, and Legal Assistant. The Company welcomes Lori to the EMX team. Pursuant to the Company’s Stock Option Plan, an aggregate of 60,000 incentive stock options, exercisable at a price of CDN $1.57 per share for a period of five years, has been granted to Ms. Pavle along with a signing bonus, through the issuance of an aggregate of 21,000 common shares, subject to any applicable stock exchange approvals and vesting requirements.
The Company also announces that upon successful completion of the sale of the Company’s interest in the Malmyzh Project in Russia, a discretionary cash bonus has been allocated in an aggregate amount of US$3.8 Million to executive directors, officers, employees and consultants of the Company.
About EMX. EMX leverages asset ownership and exploration insight into partnerships that advance our mineral properties, with EMX receiving pre-production payments and retaining royalty interests. EMX complements its royalty generation initiatives with royalty acquisitions and strategic investments.
The recent advancements of the Company’s asset portfolio underscore EMX’s focus on steadily increasing global revenue streams from strategic investments, royalties, and other payments. The Company’s goal is to substantially grow our cash flowing royalty portfolio while providing multiple opportunities for exploration and production success.
Mr. Dean D. Turner, CPG, a Qualified Person as defined by National Instrument 43-101 and consultant to the Company, has reviewed, verified and approved the disclosure of the technical information contained in this news release.
-30-
For further information contact:
David M. Cole
President and Chief Executive Officer
Phone: (303) 979-6666
Email: Dave@EMXroyalty.com
Scott Close
Director of Investor Relations
Phone: (303) 973-8585
Email:SClose@EMXroyalty.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release may contain “forward looking statements“ that reflect the Company’s current expectations and projections about its future results. These forward-looking statements may include statements regarding perceived merit of properties, exploration results and budgets, mineral reserves and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as “estimate,“ “intend,“ “expect,““anticipate,“ “will“, “believe”, “potential” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company‘s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to: unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended September 30, 2018 (the “MD&A”), and the most recently filed Form 20-F for the year ended December 31, 2017, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the 20-F and financial statements of the Company, is available on SEDAR at www.sedar.com and on the SEC’s EDGAR website at www.sec.gov.
^[1] See EMX news releases dated October 30, 2018.
^[2] See Newmont Investor Presentation – August 2018.
^[3] See AMI news release dated August 10, 2018.
^[4] See South32 Financial Results & Outlook Year Ended 30 June 2018 dated August 23, 2018.
^[5] See EMX news releases dated August 30, 2017.
^[6] See EMX news releases dated February 28, 2017.
^[7] See EMX news release dated August 8, 2016.
^[8] See EMX news release dated April 17, 2018.
^[9] See EMX news release dated August 13, 2018.
^[10] Note: EMX’s 0.5% NSR royalty is subject to reduction only as provided in the royalty agreement.
^[11] See Nevsun news release dated September 5, 2018.
^[12] See Nevsun news release dated August 7, 2018 and Sedar filed Technical Report.
^[13] See Nevsun news releases dated March 28, 2018.
^[14] See Boreal news releases dated July 4, September 19, and September 26, 2018.
^[15] See EMX news release dated April 19, 2018.
^[16] See Sienna news release dated May 17, 2018.
^[17] See EMX news release dated December 4, 2017.

Base Metals Energy Precious Metals Project Generators

PROJECT GENERATOR | Millrock Announces New Drilling Program at La Navidad Gold Project, Results from El Picacho Gold Project Sonora State, Mexico and General Corporate Update

Post author By admin
Post date November 21, 2018

VANCOUVER, British Columbia, Nov. 21, 2018 (GLOBE NEWSWIRE) — Millrock Resources Inc. (TSX-V: MRO, OTCQX: MLRKF) (“Millrock”) is pleased to report that another drilling program is underway at the La Navidad gold project in Sonora State, Mexico. The program will focus on the northwestern portion of the project. Four holes are planned at the El Tigre prospect, where gold has been detected by soil sampling in the vicinity of historic mine workings. Northwest trending high angle structures appear to control mineralization. Three holes are planned to test the El Chupadero prospect where alteration (decalcification and jasperoid replacement of limestone) points to the possibility of an intrusion-related gold deposit. In total, seven holes totaling 1,500 meters are planned. The exploration work is being funded under an option to joint venture agreement by Centerra Gold Inc. (“Centerra”).

At El Picacho, a drilling program consisting of 2007.8 meters in eleven holes was recently completed. Only narrow gold-bearing intersections were detected. The table on the following page indicates core sample assay results exceeding 0.1 gram of gold per tonne.

Drill hole #	Sample #	From (m)	To (m)	Length (m)	Au ppm
P18-001D	526007	8.00	9.00	1.00	0.140
P18-001D	526143	132.00	134.00	2.00	0.188
P18-002D	526394	165.00	166.00	1.00	0.216
P18-003D	526517	70.00	71.00	1.00	0.333
P18-003D	526463	21.00	22.00	1.00	0.377
P18-004D	526694	26.00	27.00	1.00	0.723
P18-004D	526695	27.00	28.00	1.00	0.241
P18-004D	526698	30.00	31.00	1.00	0.206
P18-004D	526699	31.00	32.00	1.00	0.194
P18-004D	526702	34.00	35.00	1.00	0.314
P18-004D	526791	115.00	116.00	1.00	0.123
P18-005D	526956	36.00	37.00	1.00	0.341
P18-006D	527041	1.00	2.00	1.00	0.160
P18-006D	527088	44.00	45.00	1.00	0.116
P18-006D	527100	55.00	56.00	1.00	0.118
P18-007D	527232	82.00	83.00	1.00	2.022
P18-007D	527236	86.00	87.00	1.00	0.152
P18-008D	527429	165.00	166.25	1.25	0.471
P18-008D	527430	166.25	166.75	0.50	5.679
P18-008D	527432	166.75	168.00	1.25	0.183

Quality Control – Quality Assurance
Millrock adheres to stringent Quality Assurance – Quality Control (“QA/QC”) standards. For the El Picacho and La Navidad drill programs drill core and rock samples are kept in a secure location at all times. Rock samples are assayed at the Bureau Veritas laboratory in Hermosillo, Mexico. Preparation and analysis methods are described in further detail here. The sample preparation method code being utilized for the current rock sampling program was PRP70-250. Analysis methods used include FA430 (30 gr/Fire Assay/ICP) and AQ-200 (Aqua Regia – ICP/MS). For every 20 rock samples a blank sample known to contain less than 3 parts per billion gold or a standard sample (Certified Reference Materials) of known gold concentration, or a duplicate sample was also analyzed. The Qualified Person is of the opinion that the results reported in this press release are reliable.

PolarX Shares
Millrock recently sold 9,203,968 shares for A$497,014. While Millrock continues to be a strong believer in the Alaska Range Project, from an overall corporate standpoint it made sense to realize some profit, while still retaining significant upside exposure for shareholders. Millrock continues to hold 10,000,000 shares of PolarX and is entitled to a production royalty, an advanced minimum royalty, and certain milestone payments.

Liberty Bell Project
A wholly – owned subsidiary of Kinross Gold Corporation has provided notice to Millrock that it will terminate its option on the Liberty Bell project. The termination will be effective December 8, 2018. Millrock intends to seek another partner to test by drilling the numerous targets that have been developed by Kinross and Millrock over the past two years. Millrock thanks Kinross for the investment it has made and its technical contributions to the project.

Qualified Person
The scientific and technical information disclosed within this document has been prepared, reviewed and approved by Gregory A. Beischer, President, CEO and a director of Millrock Resources. Mr. Beischer is a Qualified Person as defined in NI 43-101.

About Millrock Resources Inc.
Millrock Resources Inc. is a premier project generator to the mining industry. Millrock identifies, packages and operates large-scale projects for joint venture, thereby exposing its shareholders to the benefits of mineral discovery without the usual financial risk taken on by most exploration companies. The company is active in Alaska, the southwest USA and Sonora State, Mexico. Funding for drilling at Millrock’s exploration projects is primarily provided by its joint venture partners. Business partners of Millrock have included some of the leading names in the mining industry: Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet, Altius, and Riverside. Millrock is a major shareholder of junior explorers PolarX Limited. and Sojourn Exploration Inc.

ON BEHALF OF THE BOARD

“Gregory Beischer”

Gregory Beischer, President & CEO

FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
(604) 638-3164
(877) 217-8978 (toll-free)

Some statements in this news release contain forward-looking information. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include without limitation the completion of planned expenditures, the ability to complete exploration programs on schedule and the success of exploration programs.

Base Metals Precious Metals Project Generators

PROJECT GENERATOR | Mirasol Announces Aggressive 2019 Exploration Program with Over C$7 Million Spending by Joint Venture Partners

Post author By admin
Post date November 20, 2018

VANCOUVER , Nov. 20, 2018 /CNW/ – Mirasol Resources Ltd. (TSXV: MRZ), (OTCPK: MRZLF) (the “Company” or “Mirasol“) is pleased to update the Company’s shareholders on exploration activities in progress and scheduled at the company’s projects in Chile and Argentina for the coming exploration season.

Mirasol’s President and CEO, Stephen Nano , stated, “The company looks forward to reporting to shareholders the exploration results from what is anticipated to be one of the most active exploration season in the Company’s history, and that will include drill programs on a number of its Au+Ag projects in Chile and Argentina.”

Joint Venture partners’ budgets total in-excess of C$7 million confirmed for this financial year (to June 30 ^th, 2019) for our Au+Ag projects in Chile and Argentina (Figure 1):
Nico: The Company has budgeted C$1.51 million to explore this high-grade Au+Ag project where exploration teams are currently advancing target definition, in parallel with permitting for Phase I drilling planned for the first quarter of 2019.

JV partners Newcrest Mining, OceanaGold Corporation and Hochschild Mining have notified Mirasol they have budgeted a combined total in excess of C$7 million for drill programs and extensive surface exploration at Mirasol’s Joint Venture projects in Chile and Argentine this financial year (to June 30 ^th, 2019). In Chile, this spend will be directed to testing compelling high sulfidation epithermal drill targets at the Altazor Au project and Intermediate Au+Ag targets adjacent mine infrastructure at the Indra project. In Argentina our JV partner OceanaGold Corporation has committed C$1.56 million ( US$1.2 million ) through to December 2018 for exploration for the Claudia project and a 3,000 m drill program currently underway at the Curva Au project.

Over the same period, Mirasol will invest approximately C$4.5 million advancing exploration of the Company’s prospective Mio-Pliocene and Paleocene Au+Ag+Cu pipeline projects in Chile and the Nico high-grade Au+Ag project in Argentina. Mirasol is well advanced with a program of geophysics, geological mapping and detailed geochemical sampling at the Nico project’s Aurora and Vittoria prospects, in preparation for drill testing. In parallel, Mirasol is progressing drill permitting for the Nico project, where the company is targeting a January 2019 start-up for a phase I drill test of the Resolution, Aurora and Vittoria prospects.

Mirasol strong commitment to business development is timely. There is a surge in interest in the Company’s Au+Ag+Cu project portfolio in Chile and in Argentina from companies interested in new JVs. Expressions of interest are broad based, coming from mid-tier to major producers, as well as private and publicly traded junior resource companies. The Company’s business development team is focused on completing new joint ventures that will secure further partner funding to advance exploration of the project portfolio. Notably, expressions of interest for potential new joint ventures for the Argentine projects are being received from in-country precious metal producers as well as from companies interested in making new or first-time investments in the country.

Argentina is again experiencing high inflation and has implemented a new temporary export tax to increase government revenues. Neither event has had a measurable impact on Mirasol’s day-to-day operations as a project generator and exploration company in Argentina . The Company is continually monitoring the investment and operational environment in Argentina and will adjust its activities if conditions adversely change.

Mirasol’s exposure to Argentina is balanced with its activities in Chile where the Company has three active joint ventures and a strong commitment to business development and early stage project exploration, designed to deliver new quality Au and Cu projects to the development pipeline.

Mirasol remains in a strong financial position with approximately C$24 million in treasury as of Q1, financial year 2019 and anticipates receiving in excess of C$1.5 million in option payments and joint venture management fees this financial year, including the recently announced C$650,000 (US$500,000) option payment received from Newcrest Mining when it exercised its Farm-in option at the large Altazor Au project in Chile .

Mirasol invites its shareholders to follow the progress of this season’s exploration via our website (mirasolresources.com).

About Mirasol Resources Ltd

Mirasol is a premier project generation company that is focused on the discovery and development of profitable precious metal and copper deposits. Mirasol employs an integrated generative and on-ground exploration approach, combining leading-edge technologies and experienced exploration geoscientists to maximize the potential for discovery. Mirasol is in a strong financial position and has a significant portfolio of exploration projects located within the Tertiary Age Mineral belts of Chile and the Jurassic age gold – silver district of Santa Cruz Province Argentina .

Stephen Nano , President and CEO of Mirasol, has approved the technical content of this news release. Mr Nano is a Chartered Professional geologist and Fellow of the Australasian Institute of Mining and Metallurgy (CP and FAusIMM) and is a Qualified Person under NI 43 -101.

Forward Looking Statements: The information in this news release contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry. Forward-looking statements in this release include statements regarding future exploration programs, operation plans, geological interpretations, mineral tenure issues and mineral recovery processes. Although we believe the expectations reflected in our forward looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements. Mirasol disclaims any obligations to update or revise any forward looking statements whether as a result of new information, future events or otherwise, except as may be required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Mirasol Resources Ltd.

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