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Base Metals Energy Junior Mining Noram Lithium

Noram Lithium Announces Binding LOI For Strategic USD$14 Million Financing With Lithium Royalty Corp. And Waratah Capital Advisors Ltd.

VANCOUVER, BC / ACCESSWIRE /February 7, 2022/ Noram Lithium Corp. (“Noram” or the “Company“) (TSXV:NRM)(OTCQB:NRVTF)(Frankfurt:N7R) is pleased to announce that it has entered into a binding letter of intent (the “LOI“), dated February 4, 2022, in connection with a proposed royalty sale and equity investment (the “Investment“), Lithium Royalty Corp. (“LRC“) and the Waratah Electrification and Decarbonization AIE LP (“E&D“). The Investment consists of the purchase of a 1.0% gross overriding royalty (“GOR“) on its wholly-owned high-grade Zeus Lithium Project (“Zeus“) in Clayton Valley, Nevada for USD$5.0 million and a concurrent strategic investment through a USD$9.0 million private placement.

Key Terms and Highlights of the LOI:

  • Subject to final due diligence, Noram will enter into a royalty agreement with LRC for the sale of a 1.0% GOR over Noram’s Zeus sedimentary lithium claims in Clayton Valley, Nevada, for total compensation of USD$5.0 million, with payments scheduled upon completion of the two following milestones:
  • USD$4.0 million on closing of the Investment.
  • USD$1.0 million on the completion of a definitive feasibility study.
  • LRC and E&D will also co-invest USD$9.0 million via a private placement alongside the GOR purchase at the price of CDN$0.825 per share. No warrants are to be issued in relation to the private placement, and no finders’ fees or commissions are payable.
  • LRC and E&D will also be granted the right but not the obligation to invest an additional USD$9.0 million once and only if the common shares of Noram reaches CDN$1.50 per share. LRC and E&D shall have this right for only thirty (30) calendar days from the date Noram’s share price reaches CDN$1.50 per share.
  • LRC and E&D have agreed that the maximum number of shares to be co-owned by LRC and E&D will not exceed 19.9% of the total outstanding shares of Noram at any given time on a partially diluted basis. LRC and E&D shall have the right to maintain its pro-rata ownership percentage for a period of two (2) years from closing of the investment.
  • The LOI contains the agreed commercial terms of the proposed royalty agreement, completion of which is subject to the satisfaction of certain conditions precedent by February 18, 2022, including satisfactory due diligence and a site visit from LRC.
  • Due diligence is underway, with the Investment expected to be completed and funded by February 25, 2022.

“2021 was an outstanding year for the Company and its shareholders with the advancement of its 100%-owned high-grade Zeus Lithium Project through to the PEA stage, the expansion of our management team, and in setting the stage for an even more active year in 2022,” stated Mr. Sandy MacDougall, CEO of Noram Lithium. “We are absolutely thrilled to have Lithium Royalty Corp. and its globally recognized financial and technical team as a key strategic and cornerstone shareholder. LRC’s strong vote of confidence in our advanced Zeus Project and alignment with Noram’s strategy is significant and we look forward to developing our strategic relationship over time.”

Proceeds from the strategic investment will be used to assist in accelerating the advancement of the Zeus Lithium Project through to the completion of Definitive Feasibility Study. A recent Preliminary Economic Assessment dated December 2021 highlights an after-tax NPV(8) of USD$2.67 Billion with an Internal Rate of Return of 52% at $14,250/tonne Lithium Carbonate Equivalent (“LCE”). LCE currently trades at ~USD$60,000 per tonne.

Mr. Peter A. Ball, President and COO added, “2022 will be an extremely busy year as we aggressively advance towards the completion of a Pre-Feasibility Study and further de-risk the Zeus Lithium Project on all fronts. We are now fully funded through 2022 and beyond to ramp up our activities on site as we advance through further detailed engineering and metallurgical studies, complete additional drilling to further add to our already significant lithium resource and accelerate baseline environmental studies and preliminary work for future permitting. LRC’s acknowledgement or “stamp of approval” of the Zeus Project and their significant investment in Noram provides the platform and capital to significantly advance the Project.”

2022 Catalysts and Planned Corporate Activity:

  • A Pre-Feasibility Study (“PFS”) for the Zeus Lithium Project is planned for completion in the second half of 2022.
  • A 12-hole drill program is planned for Q1 2022 to further expand and upgrade the existing 43-101. The focus of the program is to upgrade existing inferred resources into the indicated category to be utilized in the PFS.
  • Additional metallurgical studies are planned to further understand and enhance the mineral processing opportunities to extract LCE at the Zeus deposit. Previous studies indicated up to 91% metallurgical recovery of LCE.
  • Initiate and further expand baseline environmental studies, social and green initiatives.
  • Significantly expand our investor relations and awareness branding efforts within the institutional and retail investment community, expand our business and corporate development activities, and further increase analyst coverage and global exposure.

The Company is at arms-length from each of LRC and Waratah E&D. Completion of the Investment remains subject to completion of ongoing due diligence by LRC and Waratah E&D as well as approval of the TSX Venture Exchange. In connection with the Investment, a marketing fee of $150,000 is owing to an arms-length third-party. On closing, the fee will be satisfied through the issuance of 181,818 common shares at a deemed price of $0.825. All securities issued in connection with the investment will be subject to statutory restrictions on resale prescribed by applicable securities laws.

The technical information contained in this news release has been reviewed and approved by Bradley C. Peek, MSc, CPG, Vice President Exploration, Noram Lithium Corp., who is a Qualified Person with respect to the Clayton Valley Lithium Project as defined under National Instrument 43-101.

About LRC

Lithium Royalty Corp (“LRC“) is a North American royalty corporation focused on investing in high quality low-cost projects in the battery materials sector with an emphasis on lithium. LRC was founded in 2018 and has now established itself as a leading financier in the lithium industry having completed 17 royalties since inception exclusive of this transaction. Its investments are diversified across the world with exposure in Australia, Argentina, Brazil, Canada, Serbia, and the United States of America. LRC is a signatory to the United Nations Principles for Responsible Investing and seeks to invest in companies with high environmental, social, and governance standards. Waratah Capital Advisors is the sponsor and general partner of Lithium Royalty Corp.

About E&D and Waratah

Waratah Capital Advisors is the sponsor and general partner for the recently launched Waratah Electrification and Decarbonization (E&D) Fund. The Fund seeks to achieve attractive risk-adjusted returns through investments in battery material, decarbonization, and electric vehicle related opportunities. Waratah Capital Advisors is a Toronto-based asset manager that specializes in alternative strategies. Waratah Capital Advisors manages over $3 billion in assets from high-net-worth individuals, family offices, foundations, Canadian bank platforms, and pension funds.

About Noram Lithium Corp.

Noram Lithium Corp. (TSXV: NRM | OTCQB: NRVTF | Frankfurt: N7R) is a well-financed Canadian based advanced Lithium development stage company with less than 75 million shares issued. Noram is aggressively advancing its 100%-owned Zeus Lithium Project in Nevada from the development-stage level through the completion of a Pre-Feasibility Study in 2022. The Company’s flagship asset is the Zeus Lithium Project (“Zeus”), located in Clayton Valley, Nevada. The Zeus Project contains a current 43-101 measured and indicated resource estimate* of 363 million tonnes grading 923 ppm lithium, and an inferred resource of 827 million tonnes grading 884 ppm lithium utilizing a 400 ppm Li cut-off. In December 2021, a robust PEA** indicated an After-Tax NPV(8) of USD$1.299 Billion and IRR of 31% using USD$9,500/tonne Lithium Carbonate Equivalent (LCE). Using the LCE long term forecast of USD$14,000/tonne, the PEA indicates an NPV (8%) of approximately USD$2.6 Billion and an IRR of 52% at USD$14,250/tonne LCE.

Please visit our web site for further information: www.noramlithiumcorp.com.

ON BEHALF OF THE BOARD OF DIRECTORS

Sandy MacDougall
CEO and Director
C: 778.999.2159

For additional information please contact:

Peter A. Ball
President and Chief Operating Officer
peter@noramlithiumcorp.com
C: 778.344.4653

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. This news release may contain forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements regarding, among other things, the completion transactions completed in the Agreement. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes. Although Noram believes that the assumptions used in preparing the forward-looking information in this news release are reasonable, including that all necessary regulatory approvals will be obtained in a timely manner, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Noram disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable securities laws. *Updated Lithium Mineral Resource Estimate, Zeus Project, Clayton Valley, Esmeralda County, Nevada, USA (August 2021) **Preliminary Economic Assessment Zeus Project, ABH Engineering (December 2021).

SOURCE: Noram Lithium Corp.

Categories
Junior Mining Precious Metals Silver Bullet Mines

Silver Bullet Mines Corp. Sets Timetable for Silver Production

Burlington, Ontario–(Newsfile Corp. – February 7, 2022) – Silver Bullet Mines Corp. (TSXV: SBMI) (‘SBMI’ or ‘the Company’) announces the arrival of its third and final shipping container at its millsite near Globe, Arizona.

The container finally cleared through the port of Long Beach and its contents were delivered to the millsite this past weekend. This container holds the motor and drive train for the ball mill, which are the final major components required to complete construction. The Company will now be able to locally acquire further minor parts as needed as Globe is a ‘mining town’ home to various mining supply stores.



Figure 1

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/8464/112953_e4474478b42dfb28_001full.jpg.

The picture above is a recent one from the millsite showing one of the four conveyors being installed. The actual ball mill is the large steel object to the middle left.

“This is a tremendously important milestone for the shareholders,” said A. John Carter, SBMI’s CEO. “The delivery of the motor and drive train was the only major factor beyond our control. It’s been painful to see costs increase while we had to wait for these items. Now, it should take between 30 and 40 days to complete construction, following which the field team will run roughly two weeks’ worth of low-grade material to fine-tune the components. Then we intend to start processing the higher-grade material from our nearby Buckeye Silver Mine.”

In anticipation of the mill’s imminent completion SBMI stockpiled at the millsite mineralized material extracted from the Buckeye Silver Mine. Like any responsible producer SBMI has its own assay lab, at which it will run daily assays for grade control, cost control and immediacy of results.

Once in production SBMI intends to produce silver dore bars, to be sold to a smelter or a commodities trader. SBMI is in discussions with several such groups in anticipation of having saleable product in April, 2022, which means the Company anticipates being in receipt of cash payments soon thereafter. Those cash payments will buttress SBMI’s treasury, which since the start of the pandemic has suffered through escalating costs of shipping, parts, supplies, fuel, services and equipment.

“Getting into production logically leads to risk-mitigating cash flow into the Company,” said Mr. Carter. “Then we can turn our efforts to the Washington Mine in Idaho and the McMorris Mine in Arizona, both former producers. The Washington Mine seems to be even better than we expected, as shown by the recent bulk sample results returning 55.5 oz/t silver.”

For further information, please contact:

John Carter
Silver Bullet Mines Corp., CEO
cartera@sympatico.ca
+1 (905) 302-3843

Peter M. Clausi
Silver Bullet Mines Corp., VP Capital Markets
pclausi@brantcapital.ca
+1 (416) 890-1232

Cautionary and Forward-Looking Statements

This news release contains certain statements that constitute forward-looking statements as they relate to SBMI and its subsidiaries. Forward-looking statements are not historical facts but represent management’s current expectation of future events, and can be identified by words such as “believe”, “expects”, “will”, “intends”, “plans”, “projects”, “anticipates”, “estimates”, “continues” and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct.

By their nature, forward-looking statements include assumptions, and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, SBMI will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, SBMI assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: the impact of SARS CoV-2 or any other global virus; reliance on key personnel; the thoroughness of its QA/QA procedures; the continuity of the global supply chain for materials for SBMI to use in the production and processing of ore; shareholder and regulatory approvals; activities and attitudes of communities local to the location of the SBMI’s properties; risks of future legal proceedings; income tax matters; fires, floods and other natural phenomena; the rate of inflation; availability and terms of financing; distribution of securities; commodities pricing; currency movements, especially as between the USD and CDN; effect of market interest rates on price of securities; and, potential dilution. SARS CoV-2 and other potential global viruses create risks that at this time are immeasurable and impossible to define.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/112953

Categories
Base Metals Energy Exclusive Interviews Junior Mining Metallic Group Stillwater Critical Minerals

Group Ten Metals is Loaded Battery and Platinum Group Metals

PRESS RELEASE

VANCOUVER, BC / ACCESSWIRE / February 2, 2022 / Group Ten Metals Inc. (TSXV:PGE)(OTCQB:PGEZF)(FSE:5D32) (the “Company” or “Group Ten”) reports results from the Induced Polarization geophysical (“IP”) survey completed in 2021 at its 100%-owned Stillwater West PGE-Ni-Cu-Co + Au project in Montana, USA. The 2021 survey was completed as an expansion off the west end of the 2020 survey, covering the area between the Hybrid and DR deposits at Chrome Mountain and drill-defined high-grade gold mineralization at the Pine target area (see Figure 1). The size and strength of the resulting geophysical signatures demonstrate additional potential for large bodies of sulphide mineralization.

2021 Survey Highlights:

  • High-level geophysical anomalies, measured and modeled in 3D to 800 meters depth, extend the combined model from 9.2 kilometers (“km”) to 12km in length in the center of the 32-kilometer-long Stillwater West project.
  • The five deposits defined by the Company’s inaugural NI43-101 mineral resource estimate* are set in similar anomalies in the 2020 IP survey and show strong spatial correlations with IP results, demonstrating the effectiveness of the technique in targeting desirable Platreef-style sulphide mineralization in the lower Stillwater complex.
  • Results of the combined IP surveys suggest significant expansion potential for drill-defined sulphide mineralization in the 2021 mineral resource estimates which delineated a total of 1.1Blbs of nickel, copper, and cobalt, plus 2.4Moz of palladium, platinum, rhodium and gold1.
  • The expanded survey included the Pine target area with the objective of finalizing drill targets and advancing drill-defined high-grade gold mineralization towards definition of a formal mineral resource.
  • Very high chargeability readings of over 180 mV/V were returned in the Pegmatoid Ridge target area, coincident with a strong kilometer-scale gold-in-soil anomaly that is contiguous with drill-defined high-grade gold at the Pine target, two kilometers to the southeast. Anomalous palladium, platinum, nickel and copper are also seen in soils in this area.
  • IP geophysics has proven to be an effective tool for identifying high-grade sulphide mineralization in the lower Stillwater Igneous Complex, guiding Group Ten’s 2020 and 2021 drill campaigns to the discovery of multiple new high-grade magmatic horizons of Platreef-style nickel and copper sulphide mineralization, with palladium, platinum, rhodium, gold, and cobalt.

* The Stillwater West PGE-Ni-Cu-Co + Au project 2021 Resource estimate was prepared by Allan Armitage, P.Geo., of SGS Geological Services, an independent Qualified Person, in accordance with the guidelines of the Canadian Securities Administrators’ National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) with an effective date of October 7, 2021. CIM (2014) definitions were followed for Mineral Resources Reporting. The constrained Mineral Resources are reported at a base case cut-off grade of 0.20% NiEq. Cut-off grades are based on metal prices of $7.00/lb Ni, $3.50/lb Cu, $20.00/lb Co, $900/oz Pt, $1,800/oz Pd and $1,600/oz Au, with assumed metal recoveries of 80% for Ni, 85% for copper, 80% for Co, Pt, Pd and Au, a mining cost of US$2.20/t rock, and processing and G&A cost of US$12.75/t mineralized material. Rhodium was modeled but not included in equivalency calculations. All figures are rounded to reflect the relative accuracy of the estimate. The current Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability. The quantity and grade of reported Inferred Resources in this Mineral Resource Estimate are uncertain in nature and there has been insufficient exploration to define these Inferred Resources as Indicated or Measured. However, based on the current knowledge of the deposits, it is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.

Michael Rowley, President and CEO, commented, “Results from the 2021 IP geophysical survey expanded our model of the core project area by 30% in length and advanced very high-quality targets with some of the highest chargeability readings to date. 3D models developed from the combined survey – and the strong correlation with drill-defined mineralization that is demonstrated across the core 12-kilometer span of the project – highlight the remarkable scale and potential of the mineralized system at Stillwater West and provide important information on structure and geometry for our predictive geologic model to guide future drill campaigns. Near-term, we are looking forward to announcing additional assay results from the 14 resource expansion holes drilled in 2021. Those results will allow us to finalize our exploration plans for 2022 which will focus on resource expansion drilling in priority deposit areas in addition to other high priority targets within the now expanded 12km core project area.”

Figure 1 – 2021 Mineral resource estimates (yellow) show strong correlation with 3D model results of the combined 2020 and 2021 IP survey across the expanded 12km core project area. Very large-scale chargeability and conductivity anomalies, shown in pink and blue respectively, indicate potential for additional large bodies of sulphide mineralization in the lower Stillwater complex.

Upcoming News and Events

Group Ten is pleased to confirm that it will participate in the AME Roundup trade show at booth #302 on Wednesday February 2nd, and Thursday February 3rd, under the Metallic Group of Companies. Core samples will be available for viewing at the booth.

Group Ten will be presenting at the GCFF Virtual Conference 2022 – Base Metals & Energy Metals Day on February 9th at 12:55PM PT.

Discussion

The 2021 Induced Polarization (IP) geophysical survey by Group Ten and Simcoe Geoscience expanded the 2020 survey with an additional 11 lines and 25 line-km of coverage for a new total of 102 line-km of combined coverage spanning the 12km core area of the Stillwater West project.

The combined survey is the largest ever completed in the Stillwater district, successfully imaging the Basal, Ultramafic Series, and basement rocks of the lower Stillwater complex and returning very large-scale anomalies with remarkable continuity, including the highly prospective peridotite zone and basal series that host the 2021 mineral resource estimates. The strength and continuity of the results enabled 3D inversion modeling to a depth of 800 meters, even after the application of high-level cut-offs of >45 mV/V and ≤100 ohm-meter to the chargeability and conductivity datasets, respectively.

As shown in Figure 1, the 2021 expansion survey included one in-fill line at the western edge of the DR and Hybrid deposits in the area of high-grade nickel sulphide mineralization intercepted in hole CM2020-04 (reported March 3, 2021). Completed as part of the Company’s priority on expanding high-grade, and high tenor, nickel sulphides in this area, data from this portion of the survey will inform the 2022 expansion drill campaign.

A second priority of the 2021 expansion IP survey was to detail the area between the DR and Hybrid deposits at Chrome Mountain and drill-defined high-grade precious metals mineralization at the Pine target, in the Wild West target area. Multiple large-scale, contiguous, strong anomalies were identified in this area in the 2021 survey, with many anomalies open past the modeled depth of 800 meters and the majority correlating with soil geochemistry anomalies identified in earlier campaigns. Many of the newly identified chargeability anomalies (>45 mV/V) are extremely large (up to 1,000m by 800m in section), and the correlation with demonstrated mineralization in soil surveys is an indicator of a potential large-scale mineralized system that makes these targets a priority for follow-up work.

Very high-level chargeability values of over 180 mV/V, some of the highest recorded to data on the project, were returned in a near-surface anomaly at the Pegmatoid Ridge target area, which is compelling because of a correlated kilometer-scale soil anomaly with elevated palladium, platinum, nickel and copper, and very high gold results of up to 500 ppb Au. Large-scale geophysical and metal-in-soil anomalies in this area are contiguous with similar anomalies at drill-defined high-grade gold at the Pine target, approximately two kilometers southeast of Pegmatoid Ridge, making these two areas a priority for follow-up exploration by the Company in 2022.

As shown in Figure 1, these very large and high-level anomalies demonstrate an exceptionally strong correlation with the 2021 Mineral Resource Estimates, and the adjacent robust IP anomalies are priority targets for resource expansion drilling in 2022.

Strong spatial correlations are also noted with historic drill results outside of the main target areas, and with other datasets including past geophysical surveys, and soil and rock geochemistry, demonstrating additional potential for expansion of sulphide mineralization at earlier stage targets more broadly across the 32-kilometer length of the project.

Results also demonstrate good correlation with 3D Magnetic Vector Inversion (“MVI”) modeling, completed on earlier geophysical survey data. MVI modeling has been instrumental in a number of large discoveries in recent years, including the expansion of Ivanhoe’s Platreef mine in similar geology in South Africa. As previously announced by Group Ten June 4, 2019, MVI results at Stillwater West indicate significant thickening of the magmatic package under the most advanced target areas relative to other parts of the Stillwater complex, highlighting the potential that the magmatic horizons that host known mineralization may also extend to several kilometers in depth, starting from surface. This is consistent with the adjacent high-grade J-M Reef deposit where mining by Sibanye-Stillwater has extended mineralized horizons to over 2 km depth from surface.

Option Grant

Group Ten further announces it has granted 1,400,000 incentive stock options (the “Options”) to directors, officers, employees, and consultants of the Company Exchange under the Company’s Long-Term Performance Incentive Plan (“LTIP”). The Options are exercisable for up to five years, expiring on February 2, 2027, and each Option will allow the holder to purchase one common share of the Company at a price of $0.36 per share, being the closing price of the previous trading day. The Options are subject to certain vesting requirements in accordance with the Company’s LTIP and the Options grant is subject to TSX Venture Exchange approval.

About Stillwater West

Group Ten is rapidly advancing the Stillwater West PGE-Ni-Cu-Co + Au project towards becoming a world-class source of low-carbon, sulphide-hosted nickel, copper, and cobalt, critical to the electrification movement, as well as key catalytic metals including platinum, palladium and rhodium used in catalytic converters, fuel cells, and the production of green hydrogen. Stillwater West positions Group Ten as the second-largest landholder in the Stillwater Complex, with a 100%-owned position adjoining and adjacent to Sibanye-Stillwater’s PGE mines in south-central Montana, USA1. The Stillwater Complex is recognized as one of the top regions in the world for PGE-Ni-Cu-Co mineralization, alongside the Bushveld Complex and Great Dyke in southern Africa, which are similar layered intrusions. The J-M Reef, and other PGE-enriched sulphide horizons in the Stillwater Complex, share many similarities with the highly prolific Merensky and UG2 Reefs in the Bushveld Complex. Group Ten’s work in the lower Stillwater Complex has demonstrated the presence of large-scale disseminated and high-sulphide battery metals and PGE mineralization, similar to the Platreef in the Bushveld Complex2. Drill campaigns by the Company, complemented by a substantial historic drill database, have delineated five deposits of Platreef-style mineralization across a core 9-kilometer span of the project, all of which are open for expansion into adjacent targets. Multiple earlier-stage Platreef-style and reef-type targets are also being advanced across the remainder of the 32-kilometer length of the project based on strong correlations seen in soil and rock geochemistry, geophysical surveys, geologic mapping, and drilling.

About Group Ten Metals Inc.

Group Ten Metals Inc. is a TSX-V-listed Canadian mineral exploration company focused on the development of high-quality platinum, palladium, nickel, copper, cobalt, and gold exploration assets in top North American mining jurisdictions. The Company’s core asset is the Stillwater West PGE-Ni-Cu-Co + Au project adjacent to Sibanye-Stillwater’s high-grade PGE mines in Montana, USA. Group Ten also holds the high-grade Black Lake-Drayton Gold project, adjacent to Treasury Metals’ development-stage Goliath Gold Complex in northwest Ontario, which is currently under an earn-in agreement with an option to joint venture whereby Heritage Mining may earn up to a 90% interest in the project by completing payments and work on the project. The Company also holds the Kluane PGE-Ni-Cu-Co project on trend with Nickel Creek Platinum‘s Wellgreen deposit in Canada‘s Yukon Territory.

About the Metallic Group of Companies

The Metallic Group is a collaboration of leading precious and base metals exploration companies, with a portfolio of large, brownfield assets in established mining districts adjacent to some of the industry’s highest-grade producers of silver and gold, platinum and palladium, and copper. Member companies include Metallic Minerals in the Yukon’s high-grade Keno Hill silver district and La Plata silver-gold-copper district of Colorado, Group Ten Metals in the Stillwater PGM-nickel-copper district of Montana, and Granite Creek Copper in the Yukon’s Minto copper district. The founders and team members of the Metallic Group include highly successful explorationists formerly with some of the industry’s leading explorers/developers and major producers. With this expertise, the companies are undertaking a systematic approach to exploration using new models and technologies to facilitate discoveries in these proven, but under-explored, mining districts. The Metallic Group is headquartered in Vancouver, BC, Canada, and its member companies are listed on the Toronto Venture, US OTC, and Frankfurt stock exchanges.

1: See October 21, 2021, news release and Group Ten Metals Technical Report titled “Technical Report on the 2021 Mineral Resource. Estimates for the Stillwater West PGE-Ni-Cu-Co + Au Project, Montana, USA” as filed Dec 6, 2021, with an effective date of Oct 7, 2021.

2: References to adjoining properties are for illustrative purposes only and are not necessarily indicative of the exploration potential, extent or nature of mineralization or potential future results of the Company’s projects.

3: Magmatic Ore Deposits in Layered Intrusions-Descriptive Model for Reef-Type PGE and Contact-Type Cu-Ni-PGE Deposits, Michael Zientek, USGS Open-File Report 2012-1010.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Michael Rowley, President, CEO & Director
Phone: (604) 357 4790
Toll Free: (888) 432 0075
Email: info@grouptenmetals.com
Web: http://grouptenmetals.com

Quality Control and Quality Assurance

Mr. Mike Ostenson, P.Geo., is the Qualified Person for the purposes of National Instrument 43-101, and he has reviewed and approved the technical disclosure outside of the 2021 Resource estimate that is contained in this news release.

Forward-Looking Statements

Forward Looking Statements: This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. Although Group Ten believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Group Ten and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.com.

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: Group Ten Metals Inc.



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Junior Mining Silver Bullet Mines

Silver Bullet Virtually Opens the Market

TORONTO, Jan. 31, 2022 /CNW/ – John Carter, Chief Executive Officer and Director, Silver Bullet Mines Corp. (“Silver Bullet” or the “Company”) (TSXV: SBMI) and his team joined Robert Peterman, Vice President, Global Business Development, Toronto Stock Exchange, to celebrate the Company’s new listing and open the market.https://www.youtube-nocookie.com/embed/nyDtyWK3b9s

Silver Bullet Mines is an overnight sensation, ten years in the making. The company is on track to put the Buckeye Silver Mine back into pilot production this quarter. The Buckeye and four other past silver producers are on the Company’s massive Black Diamond property outside Globe, Arizona. Silver Bullet Mines also owns the past producing Washington Mine in Idaho, from which a blended bulk sample yielded an average of almost 2,000 grams of silver per ton.

For Market Openings: Media may pick up a feed from the TOC (television operations centre) for all market open ceremonies. The feed is named TSX Transmit 1 (SD-SDI) and is produced at the TMX Broadcast Centre and sent live to the TOC. To pick up the feed via the Dejero network, please contact avservices@tmx.com. The client feature video will begin playing on the TMX media wall at approximately 9:27 a.m. ET and the markets will open with the sound of a siren at 9:30 a.m. ET

Date: Monday January 31, 2022

Time: 9:00am – 9:30am

Place: Virtually Broadcast

SOURCE TSX Venture Exchange

Cision
Cision

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Junior Mining Silver Bullet Mines Uncategorized

Silver Bullet Mines Corp. Commences Extraction of Mineralized Material at Its Buckeye Silver Mine in Arizona

Burlington, Ontario–(Newsfile Corp. – January 27, 2022) – Silver Bullet Mines Corp. (TSXV: SBMI) (‘SBMI’ or ‘the Company’) announces it has begun extracting mineralized material from its Buckeye Silver Mine in Arizona after taking delivery of its first shipment of blasting powder. SBMI’s intention is to produce an initial total of 10,000 tonnes of mineralized material at a rate of 125 tonnes per day.

SBMI also announces it has been invited by the TMX Group to ring the bell at market open on Monday, January 31st at 9:30 am Eastern Standard Time, a rare honour for a new junior mining company.



Blasting underground in January, 2022 at the Buckeye Silver Mine

To view an enhanced version of this graphic, please visit:
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SBMI’s initial target is the high-grade silver zone identified in 1976 by K.C. Delise, a Registered Geologist, in a report titled Surface/Underground Mapping and Sampling. Accompanying the report was a Mine Shaft Survey dated October 23, 1976 prepared by him for International Resources and Minerals Development Company. In his report he mapped and identified this zone as extending approximately 500 feet along strike.

The Company has found a summary of assay results from 1976 and 1977 from Clarkson Labs of San Diego, CA. SBMI believes these resulted from samples taken by Delise in his 1976 field work at the Buckeye. These assays returned spectacularly high values for gold, silver and copper. The highest value for gold was 4.8 opt, for silver was 8,970 opt, and for copper was 30.7%.

This information is historical in nature and pre-dates NI43-101. SBMI does not know the methods by which such work was carried out, or whether all or part of it was under the supervision of a Qualified Person, as that term is defined in NI43-101. SBMI refers to such data and observations to inform its knowledge of the area.

Nick Barr, one of SBMI’s consulting geologists, carried out his own analysis of Delise’s work in 2015, as part of which he produced notes, sections and longitudinals. He also plotted the 1976 Clarkson Labs assay results noted above onto Mr. Delise’s original Mining Shaft Survey. In addition to Delise’s and other historical records, SBMI is also relying upon these documents created by Mr. Barr as well as his current first-hand experience at the Buckeye.

“This is a significant accomplishment”, said SBMI’s VP Mining, Mr. Ron Murphy. “We have completed the rehabilitation of the underground and have commenced mining as we blast into what we believe to be Delise’s documented high-grade zone. The training, experience and talent of our seasoned mining crew has allowed us to achieve these goals in a short period of time.”

The mineralized material blasted and extracted from the Buckeye will be stockpiled at SBMI’s proximate millsite for eventual processing at SBMI’s gravity pilot plant, which is nearing completion. The Company also plans to run assays in its own assay facility on-site on multiple samples from the mineralized material to determine grades.

As previously disclosed, SBMI’s assay lab on-site in Arizona is managed by Robert Budd, a Metallurgical Process Engineer who began his career in metallurgical engineering in 1972. He has held various positions with various employers including Senior Engineer, Superintendent, Engineer, Technical Assistant, Technician, and Lab Assistant. Most recently, prior to joining SBMI he was involved in designing and creating an internal assay facility in Arizona for Freeport McMorran Inc. Working with Mr. Budd in SBMI’s assay facility is Vic Power, a Registered Professional Assayer for the state of Arizona. Mr. Budd and Mr. Power will ensure all QA/QC practices will be adhered to, including sending samples from each run to an independent accredited lab for corroboration.

It is intended the state-of-the-art gravity pilot plant should be ready to commence the processing of mineralized material in approximately sixty days, depending on the timing of delivery of certain mill items. Such deliveries are beyond SBMI’s control. The progress of both the mine and mill can be followed at www.silverbulletmines.com or on Twitter @bulletmines.

“Having our own assay lab and mill should make us incredibly efficient,” said Mr. John Carter, SBMI’s CEO who also designed the gravity pilot plant. “We will be able to have assay results back in less than a day, which will empower us to select mineralization within our target ranges to process.”

For further information, please contact:

John Carter
Silver Bullet Mines Corp., CEO
cartera@sympatico.ca
+1 (905) 302-3843

Peter M. Clausi
Silver Bullet Mines Corp., VP Capital Markets
pclausi@brantcapital.ca
+1 (416) 890-1232

Cautionary and Forward-Looking Statements

This news release contains certain statements that constitute forward-looking statements as they relate to SBMI and its subsidiaries. Forward-looking statements are not historical facts but represent management’s current expectation of future events, and can be identified by words such as “believe”, “expects”, “will”, “intends”, “plans”, “projects”, “anticipates”, “estimates”, “continues” and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct.

By their nature, forward-looking statements include assumptions, and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, SBMI will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, SBMI assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: the impact of SARS CoV-2 or any other global virus; reliance on key personnel; the thoroughness of its QA/QA procedures; the continuity of the global supply chain for materials for SBMI to use in the production and processing of ore; shareholder and regulatory approvals; activities and attitudes of communities local to the location of the SBMI’s properties; risks of future legal proceedings; income tax matters; fires, floods and other natural phenomena; the rate of inflation; availability and terms of financing; distribution of securities; commodities pricing; currency movements, especially as between the USD and CDN; effect of market interest rates on price of securities; and, potential dilution. SARS CoV-2 and other potential global viruses create risks that at this time are immeasurable and impossible to define.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/111869

Categories
Base Metals Emx Royalty Energy Junior Mining Precious Metals

EMX Royalty Corporation suspends filing of Notice of Arbitration to Zijin Mining Group Ltd.

Vancouver, British Columbia–(Newsfile Corp. – January 27, 2022) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company“, or “EMX“) reports that it has suspended the filing of its Notice of Arbitration to Zijin Mining Group Ltd (“Zijin”) and its wholly owned subsidiary, Nevsun Resources Ltd. (“Nevsun”) pursuant to the Net Smelter Returns Royalty Agreement dated March 16, 2010 by and between Reservoir Capital Corp. (of which Nevsun is a successor in interest), and Euromax Resources Ltd (EMX is the acquirer of Euromax Resources Ltd’s royalty interest) (the “Royalty Agreement”). EMX announced its intention to file a Notice of Arbitration in its news release of December 17, 2021, as a result of a dispute with Zijin regarding the royalty rate under the Royalty Agreement described in such news release.

EMX has suspended the filing as it has commenced discussions with Zijin with the goal of reaching a mutually acceptable resolution. As the outcome of such discussions are uncertain at this stage, EMX reserves its right to protect its royalty interests as it deems necessary which may include the future filing of a Notice of Arbitration which has been prepared. However, at this time, EMX continues to pursue an amicable and mutually acceptable resolution with Zijin.

Timok Project Overview. The Timok Project’s Cukaru Peki deposit consists of a higher level body of high-grade, epithermal-style copper-gold mineralization referred to as the Upper Zone project, and a deeper body of porphyry-style copper-gold mineralization known as the Lower Zone project. Prior to its acquisition by Zijin, a Pre-Feasibility Study (“PFS”) of the Upper Zone and resource estimate of the Lower Zone was completed by previous owner Nevsun, which was filed in August 2018 under Nevsun’s profile on SEDAR. EMX used the aforementioned PFS as the basis for its NI 43-101 Technical Report – Timok Copper-Gold Project Royalty, Serbia dated July 30, 2021 and EMX is unaware of any new, publicly available material scientific or technical information that would make Nevsun’s previous disclosures regarding the PFS inaccurate or misleading.

Eric P. Jensen, CPG, a Qualified Person as defined by National Instrument 43-101 and an employee of the Company, has reviewed, verified, and approved the disclosure of the technical information contained in this news release.

About EMX. EMX is a precious, base and battery metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company’s common shares are listed on the NYSE American Exchange and TSX Venture Exchange under the symbol EMX, as well as on the Frankfurt exchange under the symbol “6E9”. Please see www.EMXroyalty.com for more information.

For further information contact:

David M. Cole
President and Chief Executive Officer
Phone: (303) 973-8585
Dave@EMXroyalty.com

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

Isabel Belger
Investor Relations (Europe)
Phone: +49 178 4909039
Ibelger@EMXroyalty.com

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in policies of the TSX-V) 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 include statements regarding the payment of the royalty under the Royalty Agreement, the royalty rate, the outcome of any discussions, dispute or arbitral proceedings between EMX and Zijin and any other steps or actions taken by EMX to protect its rights, including any future filing of the Notice of Arbitration,, perceived merits 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”, “upside” 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. We are under no obligation to update any forward-looking statements except as required under applicable securities laws. 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, 2021 (the “MD&A”), and the most recently filed Revised Annual Information Form (the “AIF”) for the year ended December 31, 2020, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF 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.info

Categories
Junior Mining Precious Metals Silver Hammer

Silver Hammer Reports 2071 g/t AgEq Over 1 Metre and 1249 g/t AgEq Over 3.3 Metres, Plus Multiple 1 Kilogram Intercepts from Previously Unreported Drilling at Silver Strand Project

Table 1

Silver Strand Drill Intercepts
Silver Strand Drill Intercepts
Silver Strand Drill Intercepts

Figure 1

Oblique cross section showing mined out stopes and highlighted intercepts
Oblique cross section showing mined out stopes and highlighted intercepts
Oblique cross section showing mined out stopes and highlighted intercepts

VANCOUVER, British Columbia, Jan. 26, 2022 (GLOBE NEWSWIRE) — Silver Hammer Mining Corp. (CSE: HAMR/OTCQB:HAMRF) (“Silver Hammer” or the “Company”) is pleased to report results from newly acquired and previously unreleased high-grade drill intercepts from a 2002 drill program at the Silver Strand project in Idaho.

Highlights:

  • DDH02-001: 1,005 g/t Silver Equivalent (“AgEq”) over 2.2 metres (“m”)
  • DDH02-003: 1,219 g/t AgEq over 3.3 m
  • DDH02-003: 1,876 g/t AgEq over 1.6 m
  • DDH02-004: 1,609 g/t AgEq over 1.5 m (including 2,071 AgEq over 1.0 m and 2439 AgEq over 0.6 m)

“We are pleased to report these high-grade, near-surface drill results from work done on the project by our predecessor in 2002. These newly acquired results, combined with our initial 2021 drill campaign, demonstrate consistent high-grade gold and silver values immediately beneath the existing mine workings,” stated President & CEO Morgan Lekstorm. “Based on an independent report1 we now know that the nearby Lucky Friday Mine, located 63.5 kilometres west of Silver Strand, known for its significant, ongoing silver production, was once Idaho’s largest gold producer, so it’s not surprising to us that we are seeing such strong gold mineralization in these near-surface drill holes. Furthermore, we’ve obtained both the drill core and assay certificates from the 2002 program allowing us to include this new data when preparing our first NI 43-101 mineral resource estimate at Silver Strand. The repatriation of this information has extremely high return on investment adding significant value for the company and our shareholders.”

Table 1. Silver Strand Drill Intercepts
https://www.globenewswire.com/NewsRoom/AttachmentNg/3cce93b9-1a5c-4c69-88f1-6710736d71fa

*All reported assays are downhole core lengths, uncapped and calculated using a 110 g/t Ag cut-off grade. AgEq_g/t = Ag_g/t + Au_g/t*100; True thickness unknown, est 75-85%. One hundred percent recovery utilized. AgEq shown for reference purposes.

Figure 1: Oblique cross section showing mined out stopes and highlighted intercepts
https://www.globenewswire.com/NewsRoom/AttachmentNg/51e522c7-2177-487b-bc9a-03d3998b6a4a

This additional information compliments the drilling program Silver Hammer completed in 2021 and allows the Company to add more detailed information to the geological model to be used for drill targeting in 2022.

The 2002 drill program was conducted by New Jersey Mining who provided Silver Hammer with both the physical drill core and original assay certificates making the data eligible to be included in an NI 43-101 compliant resource estimate. Silver Hammer considers this information to be material in nature as this has only recently been repatriated.

Qualified Person

Technical aspects of this press release have been reviewed and approved by Philip Mulholland, P.Geo., the designated Qualified Person (QP) under National Instrument 43-101.

Quality Assurance, Quality Control

The following measures were taken to ensure sample security: samples were submitted to ALS Chemex (ALS) by company personnel of New Jersey Mining Company (NJMC); only authorized personnel attended the samples; core was logged at the NJMC core processing facility and then shipped to the ALS lab in Sparks, Nevada.

Analysis Suite

All drill core samples were analyzed by ALS using conventional assay methods involving fire assaying of 50-gram charges of pulverized sample material for gold and silver, with AA (Au-AA24) and/or gravimetric finishing (Au-GRA22). In addition, some pulverized charges were collected and were entirely dissolved using 4-acid digestion (Ag-AA62), with the final solution being analyzed for ore grade Ag using AA method.

Audits or reviews

Internal review of sampling techniques, data, and drilling results by the Company’s geologist’s and management was routinely done through the course of the project.

Blanks and Duplicates

For quality assurance/quality control purposes, the batches of core samples sent to ALS for assaying and AA analyses were regularly infused with ‘duplicate’, and ‘blank’ samples. The ‘duplicates’ were created during sample preparation at ALS. The laboratory also provided analytical results for their own reference samples for further QA/QC check.

About Silver Hammer Mining Corp.

Silver Hammer Mining Corp. is a junior resource company advancing the past-producing Silver Strand Mine in the Coeur d’Alene Mining District in Idaho, USA, both the Eliza Silver Project and the Silverton Silver Mine in one of the world’s most prolific mining jurisdictions in Nevada and the Lacy Gold Project in British Columbia, Canada. The Company has commenced an initial drill program at Silver Strand that will test for silver and gold mineralization immediately below the mine’s lowest level extending only 90 metres below surface. Silver Hammer strives to become a multi-mine silver producer and will focus near-term exploration and drilling plans at the Company’s Idaho and Nevada silver-gold assets.

(Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company’s property.)

On Behalf of the Board of Silver Hammer Mining Corp.

Morgan Lekstrom, President and CEO

Corporate Office: 551 Howe Street, Vancouver, British Columbia V6C 2C2, Canada

For investor relations inquiries, contact:

Kristina Pillon, High Tide Consulting Corp.
T: 604.908.1695
E: investors@silverhammermining.com

For media inquiries, contact:

Adam Bello, Primoris Group Inc.
T: 416.489.0092
E: media@primorisgroup.com

The CSE does not accept responsibility for the adequacy or accuracy of this release.

The Canadian Securities Exchange has neither approved nor disapproved the contents of this press release.

1 Juris, Dr. Dwight, P.Geo, PhD, 2002. ‘Silver Strand REPT.’ (Page 30)

Categories
Base Metals Emx Royalty Energy Junior Mining Precious Metals

EMX Options the Robber Gulch Gold Project in Idaho to Ridgeline

Vancouver, British Columbia–(Newsfile Corp. – January 26, 2022) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX”) is pleased to announce the execution, by its wholly-owned subsidiary Bronco Creek Exploration Inc., of an exploration and option agreement (the “Agreement”) for the sale of the Robber Gulch gold project (“Project”) in Idaho to Ridgeline Exploration Corporation, a wholly-owned subsidiary of Ridgeline Minerals Corp. (TSX-V: RDG) (“Ridgeline”). The Agreement provides EMX with cash payments, share payments, and work commitments during Ridgeline’s earn-in period, and upon earn-in a retained 3.25% net smelter return (“NSR”) royalty interest, annual advance royalty payments, and certain milestone payments.

Robber Gulch is a Carlin-style gold property acquired by EMX in 2019 and then optioned to a third party in 2020 that completed work programs consisting of geological mapping, soil and rock chip geochemical sampling, trenching, and a reconnaissance drill program. This previous work confirmed several key gold zones that were delineated by coincident geochemical anomalies and prospective geology. The drill testing was limited in scope and in EMX’s judgement did not adequately test the target zones. The Project reverted back to 100% EMX control in Q3, 2021.

The Robber Gulch Agreement with Ridgeline represents EMX’s execution of the seventh option agreement for Idaho gold projects since 2020. Ridgeline is also advancing the Company’s Swift and Selena royalty properties in Nevada. Robber Gulch is a key example of the royalty generation aspect of EMX’s business model, whereby prospective ground was identified, acquired inexpensively via staking open ground, and then partnered for exploration advancement at no additional cost to EMX.

Commercial Terms Overview. Pursuant to the Agreement, Ridgeline can earn 100% interest in the Project by (all dollar amounts in USD): (a) making execution and option payments totaling $750,000 over a five year option period, (b) delivering 150,000 shares of Ridgeline Minerals Corp. to EMX by the second anniversary of the Agreement, and (c) completing $650,000 in exploration expenditures before the fifth anniversary of the Agreement.

Upon Ridgeline’s option exercise and earn-in, EMX will retain a 3.25% NSR royalty interest on the Project. Ridgeline may buy back up to a total of one percent (1%) of the royalty by first completing an initial half-percent (0.5%) royalty buyback for a payment of $1,500,000 to the Company prior to the third anniversary of the option exercise. If the first buyback is completed, then the remaining half-percent (0.5%) of the royalty buyback can be purchased anytime thereafter for a payment of $2,000,000 to the Company. Ridgeline will also make annual advance royalty (“AAR”) payments of $50,000 that increase to $75,000 upon completion of a Preliminary Economic Assessment (“PEA”) or internal study termed an Order of Magnitude Study (“OMS”), the details of which are defined in the terms of the Agreement. The AAR payments cease upon commencement of commercial production. In addition, Ridgeline will make Project milestone payments consisting of: (a) $250,000 upon completion of a PEA, (b) $500,000 upon completion of the earlier of a Prefeasibility or Feasibility Study, and (c) $1,000,000 upon a positive Development Decision.

Robber Gulch Overview. The Robber Gulch Project is located 30 kilometers south of Burley, Idaho and consists of 117 unpatented lode mining claims covering approximately 9.3 square kilometers. Carlin-style mineralization is hosted in Pennsylvanian to Permian age silty limestones and calcareous siliciclastics that are exposed within erosional windows beneath post-mineralization volcanic rocks. The Robber Gulch geological environment is similar to that at the Black Pine project ~90 kilometers to the southeast.

Previous work on the Project defined two main corridors of gold mineralization along the crest of a gently sloping ridge where prospective Paleozoic host rocks outcrop. Much of the remainder of the property is covered by shallow soil. A 2020 geochemical sampling program (conducted by previous partner Gold Lion Resources) identified robust 1,000 by 550 meter and 850 by 600 meter gold-in-soil anomalies1. Numerous lower level gold-in-soil anomalies are scattered across the property within an overlying sequence of less prospective host rocks.

Trenching across portions of the soil anomalies further defined priority oxide gold targets, including a trench interval of 189 meters averaging 0.43 g/t gold, with a higher grade sub-interval of 0.88 g/t gold over 45 meters. Historical drilling intercepted 57.9 meters (from 21.3 to 79.2 m) averaging 0.34 g/t gold, including 12.2 meters averaging 0.90 g/t gold (hole bottomed in 0.32 g/t gold)2. The last hole of Gold Lion’s 2021 program terminated prematurely in bedrock at 6.1 meters depth, and averaged 1.46 g/t gold across the drilled interval. True widths from the trenching and drilling are unknown.

EMX regards Robber Gulch as a highly prospective gold property within an emerging Carlin-style gold region in southern Idaho. The Company looks forward to the Ridgeline team advancing the Project with the knowledge gained from successfully exploring Carlin-style gold systems in Nevada.

More information on the Project can be found at www.EMXroyalty.com.

Comments on Sampling, Assaying and Adjacent Properties. EMX has not performed sufficient work to verify the Project’s historical drill results, but considers this information as reliable and relevant based upon the Company’s independent field work and reviews of data from multiple sources.

The geochemical and trench results in this news release from previous partner Gold Lion Resources were sampled and assayed according to industry standard procedures, and reported according to NI 43-101 requirements. EMX believes that these results are reliable and relevant. All trench samples were logged and sampled by Gold Lion personnel. Certified reference material standards, blanks and pulp duplicates were inserted at a ratio of approximately two in every 10 trench samples. Rock samples were collected as continuous 2 to 3-metre-long chip samples along the entire length of the trenches. An effort was made to collect an even volume of bedrock along each interval in order to minimize bias in the chip sampling.

All rock samples were sealed in poly bags and were transported to MS Analytical’s laboratory in Langley, B.C., by Gold Lion personnel for preparation and analysis. Sample preparation was completed by crushing the entire sample to 70% passing -2mm, riffle splitting off 1 kilogram and pulverizing the split to better than 85% passing 75 microns. Using a 30 gram sub-sample, the gold values are determined by the fire assay method, with atomic absorption finish (code FAS-111), which reports results in parts per million (ppm) (equivalent to grams per tonne (g/t)). Using a 0.5 grab sub-sample, the remaining analytes were determined by multi-element ICP-AES with an aqua regia digest (code ICP-130). Representative samples from RG-TR-20-03 were re-analyzed by Cyanide Leach (code AU-CN00) with a AAS finish. A range of samples from low (0.149g/t) to high grade gold (1.502g/t Au; determined by FAS-111) were selected to represent a range of mineralized samples from the trenching program for reanalysis by Cyanide Leach. All analytical results are verified with the application of industry standard Quality Control and Quality Assurance (QA-QC) procedures.

The Black Pine project referenced in this news release provides context for EMX’s Project, which occurs in a similar geologic setting, but this is not necessarily indicative that the Company’s Project hosts similar tonnages or grades of mineralization.

Michael P. Sheehan, CPG, a Qualified Person as defined by National Instrument 43-101 and employee of the Company, has reviewed, verified and approved the disclosure of the technical information contained in this news release.

About EMX. EMX is a precious, base and battery metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company’s common shares are listed on the NYSE American Exchange and the TSX Venture Exchange under the symbol EMX, as well as on the Frankfurt Exchange under the symbol “6E9.” Please see www.EMXroyalty.com for more information.

For further information contact:

David M. Cole
President and Chief Executive Officer
Phone: (303) 973-8585
Dave@emxroyalty.com

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

Isabel Belger
Investor Relations (Europe)
Phone: +49 178 4909039
IBelger@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 reserve 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, 2021 and the year ended December 31, 2020 (the “MD&A”), and the most recently filed Revised Annual Information Form (the “AIF”) for the year ended December 31, 2020, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF 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. Location map of the Robber Gulch Project, Idaho.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/1508/111649_0c1a673a64a1593a_002full.jpg



Figure 2: Robber Gulch Project Geology

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/1508/111649_0c1a673a64a1593a_003full.jpg

Note: Soil, rock chip and trench results are from Gold Lion Resources. Annotated drill hole intercepts are historical. True widths for trench and drill results are unknown.

1See Gold Lion Resources news releases dated June 16, and August 11, 2020.
2 Exvenco Resources Inc., 1986, Internal Report on Artesian City Project, Cassia County, Idaho.