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Base Metals Energy Junior Mining Project Generators

Riverside Acquires the Revel Carbonatite Rare Earth Element Project near Revelstoke British Columbia

Vancouver, British Columbia–(Newsfile Corp. – October 24, 2023) – Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (“Riverside” or the “Company”), Riverside is pleased to announce that it has acquired part of the Mount Grace Carbonatite known to host Rare Earth Elements (“REEs”). The Company continues to expand its presence in British Columbia adding this a prospective REE project to its critical metals’ portfolio. The Company has staked 2538 ha. (25 km²) of terrain that hosts carbonatites mapped by the British Columbia Geologic Survey and confirmed by subsequent explorers. The Project has been named “Revel” and is located 20 km from the community of Seymour Arm within a highly prospective carbonatite belt north of Revelstoke, BC. The Project is 100% owned by Riverside with no underlying royalties or encumbrances.

Rare Earth Elements, or REEs, have become important metals worldwide as countries race to usher in a green economy, with less reliance on fossil fuels and more reliance on electrical grids and EV’s. Most countries have begun protecting these elements and listing them as strategic or critical, acknowledging the importance of these metals to future economic growth and even sovereignty. Canada and particularly BC have geological environments that host several different types of rare earth element deposits. REE carbonatites are discrete layers of either of material being depositing on the surface during volcanic activity or intrusive layers of magma injected between layers of existing rock. At Revel the property has high values of niobium and light rare earth elements similar to those found and mined in the USA at Mountain Pass. Revel geology with carbonatite has both intrusive and volcanic styles of REE with the Company’s mapping and on-going sampling shown below and on the website site.

John-Mark Staude, President and CEO, commented on the recent acquisition: “we are excited to have acquired Revel, a quality REE project with no underlying royalties or encumbrances in a geologically prospective area within a stable political jurisdiction. The new Project compliments Riverside’s growing portfolio in British Columbia and positions the company well in this rapidly evolving space. Recent announcements by the Canadian government signal that Canada is serious about securing a steady and stable supply of critical elements within its borders and the Revel acquisition is part of the Company’s diversification expanding corporate strategy.”

Revel Project Geological Summary:

The claims are partly located on Mount Grace on the northeast margin of Frenchman Cap Gneiss Dome comprising part of the Shuswap Metamorphic Terrain. These core gneisses are overlain by allochthonous cover rocks which host both extrusive and intrusive carbonatites and are part of the Monashee cover sequence. The property is centred on the Mount Grace syncline which is a northwest trending isoclinal fold. The allochthonous rocks comprise a succession of pure quartzites, feldspathic quartzites and mica schists above this basal unit lies a series of pelitic schist, marble, calc-silicate paragneiss and the Mount Grace Carbonatite layer. This provides both intrusive and volcanic units that are targeted for REE concentrations and discovery potential making possible broad and easily traceable host units which could rapidly develop substantial tonnages.

The map and cross section below modified from the work of the BC Geological Survey, Hoy and others, for the carbonatite and Rare Earth Element target geologic units is shown below and more extensively on the Company website. The regional map shows the Revel claim areas in the regional context with other known REE locations as part of a north-south trending belt which where the Company has been working.

Figure 1. Regional location map of the Mount Grace Carbonatite and other REE locations superimposed on geologic quadrangle map from Hoy and Kwong (1986).

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6101/185049_8cb54255a4c27972_002full.jpg

Figure 2. Map with the Revel mineral claims on the Mount Grace Carbonatite from Hoy and Kwong (1986) with location of target Carbonatite horizon shown in blue and Riverside claim areas marked in red.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6101/185049_8cb54255a4c27972_003full.jpg

Revel Project History

Mount Grace and surrounding area was first mapped by government geologists where two types of carbonatites were identified. Type I intrusive carbonatites were noted to have a metasomatized contacts being conformable to the bedding within their metasedimentary host rocks, and commonly contacting either a syenite or nepheline syenite gneiss. Conversely Type II extrusive carbonatites, believed to be of volcanic origin and lacking any kind of metasomatic boundary, were linked with the occurrence of a prominent marble horizon that was stratigraphically above the carbonatite bodies and used as a regional marker (McMillan and Moore, 1974). Later mapping of the Mount Grace area by Hoy and McMillan (1979) revealed that the discontinuous extrusive carbonatites of the Perry River area were likely related to the extrusive Mount Grace Carbonatite, which has a lateral extent of over 60 km. A study by Hoy and Kwong (1986) revealed that the Mount Grace carbonatite is strongly enriched in the elements barium, manganese, and strontium, with high concentrations of niobium, lanthanum, neodymium and cerium relative to other carbonatites of its nature.

Figure 3. Cross sections for the Mount Grace Carbonatite from Hoy and Kwong (1986) with location of target Carbonatite horizon shown in blue and Riverside claim areas marked in black arrows. Refer to the legend in Figure 2 above for rock descriptions.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6101/185049_8cb54255a4c27972_004full.jpg

In 1983, Duval International Corporation conducted a geological and geochemical survey in the area that led to the discovery of the Ren carbonatite, south of Mount Grace; samples of the Ren carbonatite rendered anomalous values of niobium, cerium and lanthanum (Pilcher, 1983). Teck Exploration Ltd. carried out further work on carbonatites at Ratchford Creek in 1987, which included trenching and silt, rock, and soil sampling programs as well as radiometric and magnetic surveys (Betmanis and Lovang, 1988). Results from Teck’s program indicated anomalous values of niobium and light rare earth elements. At the present, these carbonatite exposures and associated alkaline rocks are contiguously staked by the Company along the western margin of the Frenchman Cap gneiss dome providing a guide for delineating the system so far.

In the early 2010’s field work in the project area found more well-defined carbonatite and in 2018 exploration work located zones of layered and also intrusive carbonatite which during the 2023 field season Riverside was able to work up and sample.

Qualified Person:

This news release was reviewed and approved by Freeman Smith, P.Geo., a non-independent qualified person to Riverside Resources, who is responsible for ensuring that the geologic information provided within this news release is accurate and who acts as a “qualified person” under National Instrument 43-101 Standards of Disclosure for Mineral Projects.

About Riverside Resources Inc.:

Riverside is a well-funded exploration company driven by value generation and discovery. The Company has over $7M in cash, no debt and less than 75M shares outstanding with a strong portfolio of gold-silver and copper assets and royalties in North America. Riverside has extensive experience and knowledge operating in Mexico and Canada and leverages its large database to generate a portfolio of prospective mineral properties. In addition to Riverside’s own exploration spending, the Company also strives to diversify risk by securing joint-venture and spin-out partnerships to advance multiple assets simultaneously and create more chances for discovery. Riverside has properties available for option, with information available on the Company’s website at www.rivres.com.

ON BEHALF OF RIVERSIDE RESOURCES INC.

“John-Mark Staude”

Dr. John-Mark Staude, President & CEO

For additional information contact:

John-Mark Staude
President, CEO
Riverside Resources Inc.
info@rivres.com
Phone: (778) 327-6671
Fax: (778) 327-6675
Web: www.rivres.com

Mehran Bagherzadeh
Corporate Communications
Riverside Resources Inc.
Phone: (778) 327-6671
TF: (877) RIV-RES1
Web: www.rivres.com

Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward-looking terminology (e.g., “expect”,” estimates”, “intends”, “anticipates”, “believes”, “plans”). Such information involves known and unknown risks — including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/185049

Categories
Base Metals Emx Royalty Energy Junior Mining Precious Metals Project Generators

EMX Provides an Update for the Hardshell Royalty Property Included Within the Hermosa Project in Arizona

Vancouver, British Columbia–(Newsfile Corp. – October 2, 2023) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX”) is pleased to provide an update for EMX’s Hardshell royalty property, which is part of South32 Limited’s (“South32”) Hermosa Project in southeast Arizona. Recent drill results from the Peake prospect, which is partially covered by the Hardshell royalty, include the best intercept to date in hole HDS-813 reported as 139 meters (1302.7-1441.7 m) averaging 1.88% copper, 0.51% lead, 0.34% zinc, and 52 g/t silver, with a subinterval of 58.2 meters averaging 3.1% copper, 0.6% lead, 0.24% zinc, 74g/t silver and 0.015% molybdenum (true width not reported)1. EMX retains a 2% net smelter return (“NSR”) royalty on Hardshell that is not capped nor subject to buy down.

South32’s Hermosa Project is comprised of the a) Taylor polymetallic (Zn-Pb-Ag) development project adjacent to the north of Hardshell with carbonate replacement deposit (“CRD”) mineralization that projects towards EMX’s royalty footprint, b) the Peake Cu-Pb-Zn-Ag skarn prospect, which as currently outlined is mostly covered by EMX’s royalty ground, and c) the Clark manganese manto deposit to the east of the royalty footprint.

In addition to the encouraging drill results at Peake, other recent advances reported by South32 include the designation of Hermosa as the first mining project given FAST-41 status by the US Federal Permitting Improvement Steering Council to facilitate the potential to supply designated critical minerals (i.e., zinc and manganese), and an updated JORC mineral resource estimate for Taylor to support ongoing feasibility work. Although Taylor (and Clark) occur outside of EMX’s royalty property boundary, the Hermosa Project’s overall prospectivity is attracting capitalized exploration of US$23 million to test priority targets, including further drilling at Peake and other prospects2.

EMX’s Hardshell royalty was organically generated by the Company’s wholly-owned subsidiary Bronco Creek Exploration Inc. (“BCE”). BCE recognized the alteration and mineralization zoning patterns within the district, and staked prospective open ground. Hardshell was optioned in 2015 for a 2% NSR retained royalty interest. The Hermosa Project, including Hardshell, was acquired by South32 in 2018. Since then, South32 has steadily advanced Hermosa, which includes the step-out exploration drilling that continues to delineate mineralization at Peake. The recognition of mineralization at Peake highlights the discovery optionality of EMX’s Hardshell royalty property.

Discussion of Drill Results. South32’s drilling at Peake is delineating a series of stacked horizons that have a general north-westerly dip of 30 degrees and host disseminated to semi-massive sulphide mineralization. According to South32 “the upper and lower extents of the horizons tend to have polymetallic mineralisation with the central component dominated by copper sulphides, predominantly chalcopyrite. Mineralisation within the stacked profile is approximately 130 m thick, for an approximate 450 m strike and 300 m width.”

The Peake prospect is currently characterized by 17 diamond drill holes, with intercepts from the most recent four holes summarized in Table 1, and the previous 13 holes reported in EMX’s news release dated June 21, 2022. The recent intercepts in Table 1 have been reported at a 0.2% copper cutoff by South32, reflecting the early-stage nature of exploration and evaluation of the Peake prospect.

Table 1. Recent Peake drill intercepts from EMX’s Hardshell royalty property.

Hole IDFrom (m)To (m)Width (m)Zn %Pb %Ag g/tCu %Mo %CuEq %
HDS-810No significant intersection
HDS-8131302.71441.7139.00.340.5152.01.88–2.49
Including1333.81392.058.20.240.6074.03.100.0153.84
1381.01390.59.40.070.1994.05.40–6.11
1454.51458.64.10.820.6166.00.31–1.23
HDS-8141192.71545.6353.00.100.2012.10.28–0.45
Including1242.41268.025.60.000.0014.30.70–0.8
1279.21294.815.50.000.108.40.39–0.47
1302.41312.29.80.100.209.90.33–0.48
1315.81326.811.00.200.7019.30.60–0.97
1388.41399.811.40.401.0018.50.56–1.08
1408.51418.510.10.200.4011.80.40–0.65
1442.31476.834.40.500.5017.30.35–0.78
1526.11539.513.40.200.3042.20.43–0.87
HDS-815No significant intersection

Intercepts reported by South32 at a 0.2% Cu cutoff, as summarized by EMX. True widths not reported. CuEq (%) = Cu% + 0.3965*Zn% + 0.2331*Pb% + 0.0068*Ag g/t. Average payable metallurgical recovery assumptions are 90% for Zn, 91% for Pb, 81% for Ag and 80% for Cu. Metals pricing assumptions are South32’s long-term consensus prices as at the April 2023 quarter. See South32 news release dated July 24, 2023.

Figure 1. Peake drilling and mineralized domain with EMX Hardshell royalty boundary as well as Taylor & Clark mineralized domains. Figure modified from figure 5 of South32 news release dated July 24, 2023.

To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/1508/182464_figure1.jpg

Figure 2. Cross section looking east (2000 m wide) showing South32’s Peake drilling and mineralized domains as well as Taylor and Clark mineralized domains (see Figure 1 for A-A’ cross section line). Figure modified from figure 6 of South32 news release dated July 24, 2023.

To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/1508/182464_figure2.jpg

Hermosa Project and Hardshell Royalty Property Overview. South32’s Hermosa Project, located in the Patagonia mining district of southeastern Arizona, includes CRD sulfide (i.e., Taylor) and oxide manto (i.e., Clark) deposits (which are not covered by EMX’s Hardshell royalty), as well as the Peake skarn prospect (partially covered by EMX’s Hardshell royalty). EMX’s Hardshell 2% NSR royalty property consists of 16 unpatented federal lode mining claims. South32 has stated that it (refer to FY 2023 Financial Results and Outlook and July 24, 2023 news release) is continuing to follow up on Peake’s exploration potential, which is open in several directions.

The ongoing delineation of the Peake prospect by South32 represents the potential to create significant value for the Company’s Hardshell royalty property. EMX looks forward to South32’s continued exploration success at Hardshell, as well as from the greater Hermosa Project.

Comments on Adjacent and Nearby Projects. The adjacent and nearby projects, which include the Taylor and Clark deposits, provide geological context for the Peake prospect, which is partially covered by EMX’s Hardshell royalty claim block. However, this is not necessarily indicative that the Hardshell royalty claim block represents similar styles or tonnages of mineralization as the Taylor deposit, nor a similar style of mineralization as the Clark deposit.

Qualified Person. 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 TSX Venture Exchange under the symbol “EMX”, and also trade 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 CEO
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 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 June 30, 2023 (the “MD&A”), and the most recently filed Annual Information Form (“AIF”) for the year ended December 31, 2022, 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.sedarplus.ca and on the SEC’s EDGAR website at www.sec.gov.

1 See South32 news release dated July 24, 2023.
2 See South32 “Financial Results and Outlook Year Ended 30 June 2023” dated August 24, 2023.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/182464

Categories
Base Metals Emx Royalty Energy Junior Mining Precious Metals Project Generators

EMX Options Its Copperhole Creek Polymetallic Project in Australia to Lumira Energy Ltd.

Vancouver, British Columbia–(Newsfile Corp. – September 13, 2023) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX”) is pleased to announce the execution of an option agreement for EMX’s Copperhole Creek polymetallic project in Queensland, Australia (the “Project”) (see Figure 1) to Lumira Energy Ltd. (“Lumira“), a private Australian Company. The agreement provides EMX with a 2.5% Net Smelter Return (“NSR”) royalty interest, cash and equity payments, work commitments and other considerations. In conjunction with this transaction, Lumira Energy intends to establish a public listing on the Australian Securities Exchange (ASX) in mid-year 2024.

The polymetallic Copperhole Creek Project is located 20 km east of the Georgetown-Forsayth Metallogenic District in Queensland, with mineralization developed in the same host rocks as the Georgetown-Forsayth District. There are two main styles of mineralization recognized on the Copperhole Creek property, (1) tin-copper-molybdenum mineralization developed in zones of greisen-style alteration and (2) shear zone hosted copper-silver mineralized veins and breccias. Numerous occurrences, historical mines and prospects with either or both styles of mineralization occur on EMX’s land position (see Figure 2). Although the nearby Georgetown-Forsayth Metallogenic District is well known for its historical gold production, only a few of the occurrences at Copperhole Creek have been assayed for gold, adding further upside to the Project.

This transaction will provide Lumira with a flagship asset in Australia in advance of its proposed ASX listing. EMX and Lumira will apply modern exploration methods and deposit models to identify and prioritize additional targets within the project area.

Commercial Terms Overview: All terms in Australian Dollars (AUD) unless otherwise indicated. Upon execution, Lumira will make a cash payment of $20,000 to EMX to commence an exclusive two-month option period. Pursuant to the agreement, Lumira can acquire a 100% interest in the Project by paying EMX an additional $30,000 prior to the end of the two-month option period. Upon a successful listing on the ASX, Lumira will issue shares of Lumira equivalent to $100,000 to EMX and a further 500,000 shares 12 months after listing. Furthermore, upon listing Lumira will also issue to EMX 1,000,000 options with 500,000 options being exercisable for one share of Lumira at a price of $0.30 for 24 months and 500,000 options being exercisable for one share of Lumira at a price of $0.40 for 36 months.

Upon completing the option period requirements, Lumira will earn a 100% interest in the Project with EMX retaining:

  • A 2.5% NSR royalty interest.
  • Annual advance royalty (“AAR”) payments of $30,000 per year commencing upon the third anniversary of the initial public offering, with the AAR payment escalating by 15% per year until reaching a maximum of $75,000 per year.
  • Milestone payments as follows:
    • $250,000 in cash or Lumira shares upon publication of a maiden JORC complaint resource;
    • $250,000 in cash or Lumira shares upon publication of a scoping study or a Preliminary Economic Assessment;
    • $500,000 in cash upon publication of a Definitive Feasibility Study; and
    • $1 million in cash upon commencement of commercial production.

To maintain its interest in the projects, Lumira will also:

  • Spend $50,000 in exploration expenditures before the date of the initial public offering (“IPO”);
  • Spend an additional $250,000 by the first anniversary of the IPO;
  • Spend an additional $200,000 by the second anniversary of the IPO; and
  • Complete a minimum of 1,000 m of drilling each year from the third to the eighth anniversary of the IPO.

Within 96 months of executing the agreement, Lumira will have the right to re-purchase 0.5% of the NSR Royalty on the Project for $1.2 million.

Copperhole Creek Project. Although located within a prospective geologic belt, with the historical Einasleigh Copper Mine located 25 km along trend to the southeast, the Copperhole Creek project has not seen systematic exploration in the past 30 years. Production from various historical mines took place in the early 20th century, with limited exploration taking place in the 1970’s and 1980’s. The Questend prospect was drilled by BP Minerals in 1978 with two shallow reverse circulation drill holes, with a reported intercept of 12 meters of 3.27% Cu, 0.66% Zn, 0.26% Sn and 51 ppm Ag from 36 meters1 (true width not reported). The mineralization was hosted within a quartz-sulfide breccia body that appears to project from mineralization exposed in nearby prospect pits.

In a broad sense, mineralization appears to be zoned with Cu-Mo-Sn mineralization developed in the northeastern portion of the property to more copper-silver mineralization developed in the southwest. Prioritized exploration targets include mineralized shear zones and breccias that were targeted by the historical mining operations. The project also contains potential for Cu-Mo-Sn porphyry style mineralization in the zones of greisen style alteration and mineralization.

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

Comments on Nearby and Adjacent Properties. The deposits, projects and mines discussed in this news release provide context for EMX’s Project, which occurs in a similar geologic setting, but this is not necessarily indicative that the Project hosts similar quantities, grades or styles of mineralization.

Dr. Eric P. Jensen, 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”, and also trade 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 June 30, 2023 (the “MD&A”), and the most recently filed Annual Information Form (“AIF”) for the year ended December 31, 2022, 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.sedarplus.ca and on the SEC’s EDGAR website at www.sec.gov.

Figure 1. Location Map of the Copperhole Creek Project

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1508/180418_figure%201.jpg

Figure 2. Overview Map of the Copperhole Creek Project

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1508/180418_figure2.png

1 Drilling was conducted by BP Mining Development Australia Pty Ltd in 1978 with results reported to the Queensland Geologic Survey in 1979 in a report titled Final Report on A.TO P.1806 (cr_7585.pdf). EMX has not performed sufficient work to verify the published assay results, and these data cannot be verified as being compliant with NI43-101 standards. However, EMX believes these results to be reliable and relevant.

2 Underground sampling was completed by Bridge Minerals in 1971 and reported to Queensland Geologic Survey that year in a report titled Annual Report Georgetown District Eveleigh Block (cr_3533.pdf). EMX has not performed sufficient work to verify the published assay results, and these data cannot be verified as being compliant with NI43-101 standards. However, EMX believes these results to be reliable and relevant.

3 Surface rock chip sampling was completed by Battle Mountain Gold Company in 1989 and reported to the Queensland Geologic Survey that year in a report titled Authority to Prospect 5855M (Copperhole Creek) (CR_20492.pdf). EMX has not performed sufficient work to verify the published assay results, and these data cannot be verified as being compliant with NI43-101 standards. However, EMX believes these results to be reliable and relevant.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/180418

Categories
Base Metals Breaking Emx Royalty Energy Junior Mining Precious Metals Project Generators

EMX Receives Initial Royalty Payment from Zijin

Vancouver, British Columbia–(Newsfile Corp. – September 12, 2023) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX”) is pleased to announce the receipt of $6,675,947 in royalty proceeds from its Timok royalty property with Zijin (Europe) International Mining Company Ltd., a wholly owned subsidiary of Zijin Mining Group Ltd (“Zijin”). EMX and Zijin recently agreed to an amended and restated royalty agreement that covers Zijin’s Brestovac exploration permit area (including the active Cukaru Peki copper and gold mine), as well as portions of Zijin’s Jasikovo-Durlan Potok exploration license (see EMX News Release dated September 5, 2023). EMX now owns a 0.3625% Net Smelter Return (“NSR”) royalty that is uncapped and cannot be repurchased or reduced.

The approximately $6.68 million royalty payment consisted of $1.59 million from July-December, 2021, payments of $3.20 million from the calendar year 2022, and $1.89 million for the period of January-June, 2023.

Various news media reports recently highlighted Zijin’s planned expansion of the Cukaru Peki operation. As reported by Bloomberg News on August 28, 2023, Branko Rakocevic, Assistant General Manager at Serbia Zijin Mining d.o.o. Bor, commented: “These are vast reserves, which require additional infrastructure, additional investment of around $3.5 to $3.8 billion.” This would represent a substantial further investment in the Cukaru Peki project. Zijin is currently producing copper and gold from the Upper Zone deposit at Cukaru Peki, while concurrently developing the Lower Zone porphyry copper and gold deposit.

The Cukaru Peki deposits and operations are summarized in Zijin’s annual reports and in various Zijin disclosures. An NI-43-101 technical report for the Timok royalty was filed by EMX on SEDAR on March 31, 2022.

Dr. Eric P. Jensen, 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, and also trade 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 June 30, 2023 (the “MD&A”), and the most recently filed Revised Annual Information Form (the “AIF”) for the year ended December 31, 2022, 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.sedarplus.ca and on the SEC’s EDGAR website at www.sec.gov.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/180301

Categories
Base Metals Emx Royalty Energy Junior Mining Precious Metals Project Generators

EMX Royalty Grants Incentive Stock Options and RSUs

Vancouver, British Columbia–(Newsfile Corp. – September 11, 2023) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX”) announces that pursuant to the Company’s Stock Option Plan, incentive stock options (the “Options“) to purchase an aggregate of 1,464,000 common shares, exercisable at a price of C$2.55 per share for a period of five years, has been granted to officers, directors, employees and consultants of the Company.

In addition, the Company has granted an aggregate of 562,000 restricted shares units (“RSU“) with a 3-year cliff vesting provision to officers, directors, and key employees, subject to any applicable stock exchange approvals and vesting requirements. Each RSU will entitle the holder to acquire, for nil cost, between zero and 1.5 common shares of the Company, subject to the achievement of performance conditions relating to the Company’s total shareholder return, and certain operational milestones.

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, and also trade 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.

Categories
Base Metals Emx Royalty Energy Precious Metals Project Generators

China’s Zijin Mulls $3.8 Billion Expansion of Serbia Copper Mine (EMX Royalty)

The excavated terrain of the Veliki Krivelj open pit copper mine, operated by Zijin Mining Group Co., in the Bor Region, Serbia. Photographer: Oliver Bunic/Bloomberg , Bloomberg

(Bloomberg) — China’s Zijin Mining Group Co. is developing plans to expand its copper mine in eastern Serbia due to demand for the metal considered vital to the global energy transition — an effort that could cost billions of dollars. 

The company opened the Cukaru Peki copper and gold mine almost two years ago, with a $678 million investment allowing it to reach reserves a few hundred meters deep. Now it wants to drill down almost 2 kilometers (1.25 miles) to make the most of assets acquired in a takeover spree. 

“These are vast reserves, which require additional infrastructure, additional investment of around $3.5 billion to $3.8 billion,” said Branko Rakocevic, the top Serbian official at the mine, whom the Chinese company authorized to speak with reporters. 

Across the globe, companies and governments are racing to produce materials considered key to the shift toward a greener economy. Copper in particular is used in wind turbines, power grids and electric vehicles. China is the world’s top-supplier of so-called critical minerals, but the European Union and US are seeking to boost domestic supplies to ensure that they don’t fall further behind in the transition. 

Read more: Why the Fight for ‘Critical Minerals’ Is Heating Up: QuickTake

Serbia, a candidate for EU membership, has embraced foreign investors including China as it looks to revitalize an ailing sector of its economy. Australia-based BHP Group, the world’s biggest mining company, is also looking more closely, signing an agreement earlier this year to explore for new copper deposits in the country.

Cukaru Peki is located in the town of Bor, where copper, gold and silver have been mined for over a century. The mine’s lower zone, at depths of more than 460 meters (1,508 feet), is believed to hold 2.2 million tons of copper, more than in the upper zone. Its gold content is thought to be lower at the deeper depths.  

The upper zone may be exhausted of its deposits around 2034, while deeper operations could start in 7 to 10 years, according to Rakocevic. Zijin’s long-term plans for the site include building roads, and expanding power supply and flotation facilities, he said.

Zijin’s Expansion

Zijin bought Serbia’s sole copper and gold complex in 2018, when the government auctioned off the debt-laden business in an effort to save thousands of jobs in an impoverished mining region. Following a string of takeovers, the Chinese company developed full control of what is now Cukaru Peki. 

The acquisition — and further investments to expand mines in Congo and Tibet — are helping to transform Zijin into one of the world’s largest copper miners, leapfrogging western producers like Rio Tinto, Anglo American and Antofagasta. By 2025, it expects to produce about 1.2 million tons of copper, a six-fold increase over levels seen in 2017.

Zijin now runs two units in Serbia. One produces copper cathodes, gold, silver and sulfuric acid at facilities co-owned with the government. The other, Serbia Zijin Mining — which operates the Cukaru Peki mine — exports copper concentrate to China, Canada, Bulgaria, Spain and Korea. 

The companies have been among Serbia’s top exporters for the last two years, riding a wave of demand for metals. Benchmark copper futures soared earlier this year, though prices have cooled in recent months, largely over concerns about the health of China’s economy. 

“Still, copper is in demand always and everywhere” which justifies the long-term investment, Rakocevic said. “The market is stable enough. Prices declined from last year, but we don’t expect much volatility.” 

–With assistance from Mark Burton.

©2023 Bloomberg L.P.

Original Source: https://www.bnnbloomberg.ca/china-s-zijin-mulls-3-8-billion-expansion-of-serbia-copper-mine-1.1964102

Categories
Base Metals Emx Royalty Junior Mining Precious Metals Project Generators

Ridgeline Minerals Expands Big Blue Property Position by 33%

Vancouver, British Columbia–(Newsfile Corp. – September 6, 2023) – Ridgeline Minerals Corp. (TSXV: RDG) (OTCQB: RDGMF) (FSE: 0GC0) (“Ridgeline” or the “Company“) is pleased to announce the staking of an additional one hundred and forty-one (“141”) Bureau of Land Management (“BLM“) lode claims (2,913 acres) at the Big Blue project (“Big Blue” or “Project”) in Elko County, Nevada. Big Blue now comprises 502 contiguous lode claims totaling 10,168 acres or 41 square kilometers (“km”) (Figure 1), and is 100% owned by the Company with no underlying work commitments or royalty obligations. The property includes the past producing Delker Mine and Skarn Hill Adit, which collectively produced a reported 94,434 pounds of copper (“Cu”) at an average grade of 6.2% Cu between 1916-19171 (Figure 1). The Project has not seen a sustained exploration effort in decades and exhibits excellent potential to make new porphyry copper and Carbonate Replacement (“CRD”) style polymetallic discoveries.

The property expansion followed the Company’s recently announced acquisition of an extensive historical database for Big Bluesee (August 24, 2023 press release HERE), which has highlighted additional geophysical targets located to the northwest of the original claim block. This kilometer-scale target exhibits overlapping gravity and magnetic geophysics anomalies and is interpreted as a potential porphyry signature that may be the deeper source to the known Cu-skarn mineralization outcropping at the historical Delker Mine (Figure 2). As a result, Ridgeline staked all open and locatable claims surrounding the porphyry target and will continue advancing Big Blue towards a maiden drill program in 2024.

Chad Peters, President & CEO, commented, “Big Blue continues to be a rapidly evolving project in our exploration pipeline. Our team is very encouraged by the scale of the geophysical anomaly’s located on our new claim block, which suggests potential for a blind porphyry copper target at depth and distal CRD targets along strike. Until now, the Delker area has never been explored as a consolidated porphyry district and with this expansion we now control a target-rich land position with a robust geologic dataset to support our exploration model. We will continue to advance low-cost targeting and permitting initiatives through the remainder of this year while we prepare for a maiden drill campaign in 2024.”

Big Blue Project

Big Blue is located in Elko County, Nevada, approximately seventy-five kilometers (“km”) southeast of the city of Elko, NV. The Project includes the past producing Delker Mine, which produced a reported 94,434 pounds of copper at an average grade of 6.2% Cu between 1916-19171 and shares its southern boundary with Reyna Silver’s Medicine Springs Ag-Pb-Zn Carbonate Replacement (“CRD”) project. Mineralization occurs as outcropping, high-grade Cu occurrences located proximal to northeast trending felsic dikes that are interpreted as the zoned manifestations off a potential porphyry source, located in the northwest corner of the Big Blue property. Importantly, this target has never been drill-tested. The primary target at Big Blue is porphyry-skarn Cu ± Au-Ag mineralization, with potential to discover polymetallic, carbonate replacement deposit (CRD) style mineralization as the system zones outward over 6 kilometers of strike towards the Medicine Springs project. This target model is analogous to the Butte Valley porphyry Cu-Au system, which is inferred to be the source of CRD mineralization at the Company’s nearby Selena project. Big Blue is 100% owned by the Company and is comprised of a total of 41 square kilometers of highly prospective exploration ground that has seen limited exploration since the early 1900’s and will benefit from Ridgeline’s systematic approach to discovery (view Ridgeline’s Corporate Deck HERE).

Figure 1: Plan view map showing the location of the 141 new claims (shaded blue) staked by Ridgeline to increase claims by ~33% to 502 contiguous lode claims.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/179674_1f511761d4096991_002full.jpg

Figure 2: Plan view map on the left showing reduced to pole (“RTP”) airborne magnetics highlighting kilometer scale magnetic “highs” at both the Delker Mineand to the northwest on Ridgeline’s new claims. The map on the right shows Residual Gravity with a coincident high over proposed porphyry centers. Gravity also highlights a lower amplitude anomaly interpreted as a northeast trending structural corridor that trends southwest to the historical Golden Pipe mine (Ag-Pb-Zn) owned by Reyna Silver.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/179674_1f511761d4096991_003full.jpg

To view X-Section A-A’ showing magnetics anomaly beneath the Delker Mine, click HERE.

To view plan view maps showing Total Horizontal Gradient Magnetics and Residual gravity, click HERE.

QAQC Procedures

Samples are submitted to American Assay Laboratories (AAL) of Sparks, Nevada, which is a certified and accredited laboratory, independent of the Company. Samples are prepared using industry-standard prep methods and analysed using FA-PB30-ICP (Au; 30 g fire assay) and ICP-5AM48 (48 element Suite; 0.5 g 5-acid digestion/ICP-MS) methods. AAL also undertakes its own internal coarse and pulp duplicate analysis to ensure proper sample preparation and equipment calibration. Ridgeline’s QA/QC program includes regular insertion of CRM standards, duplicates, and blanks into the sample stream with a stringent review of all results completed by the Company’s Qualified Person, Michael T. Harp, Vice President, Exploration.

Technical information contained in this news release has been reviewed and approved by Michael T. Harp, CPG. the Company’s Vice President, Exploration, who is Ridgeline’s Qualified Person under National Instrument 43-101 and responsible for technical matters of this release.

About Ridgeline Minerals Corp.

Ridgeline is a discovery focused gold-silver explorer with a proven management team and a 204km² exploration portfolio across six projects in Nevada and Idaho, USA. More information about Ridgeline can be found at www.RidgelineMinerals.com.

On behalf of the Board
“Chad Peters”
President & CEO

Further Information:
Chad Peters, P.Geo.
President & CEO
Ridgeline Minerals Corp.
(775) 304-9773 | info@ridgelineminerals.com

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

Cautionary Note regarding Forward-Looking Statements

Statements contained in this press release that are not historical facts are “forward-looking information” or “forward-looking statements” (collectively, “Forward-Looking Information”) within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, the anticipated benefits of the Earn-In Agreement and the transaction contemplated thereby. The words “potential”, “anticipate”, “meaningful”, “discovery”, “forecast”, “believe”, “estimate”, “expect”, “may”, “will”, “project”, “plan”, “historical”, “historic” and similar expressions are intended to be among the statements that identify Forward-Looking Information. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results to be materially different from any future results expressed or implied by the Forward-Looking Information. In preparing the Forward-Looking Information in this news release, Ridgeline has applied several material assumptions, including, but not limited to, assumptions that TSX Venture Exchange approval will be granted in a timely manner subject only to standard conditions; the current objectives concerning the Project can be achieved and that its other corporate activities will proceed as expected; that general business and economic conditions will not change in a materially adverse manner; and that all requisite information will be available in a timely manner. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of Ridgeline to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include, among others, risks related to dependence on key personnel; risks related to unforeseen delays; risks related to historical data that has not been verified by the Company; as well as those factors discussed in Ridgeline’s public disclosure record. Although Ridgeline has attempted to identify important factors that could affect Ridgeline and may cause actual actions, events, or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, Ridgeline does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Sources

1Delker Mine Historic Production (Page 57): Smith, R.M., 1976, Mineral resources of Elko County, Nevada: U.S. Geological Survey Open-File Report 76-56, 201 p.

2Medicine Springs Results: https://reynasilver.com/system/uploads/RS-PressRelease-20230117.pdf

Categories
Base Metals Emx Royalty Energy Junior Mining Precious Metals Project Generators

EMX Royalty Sells Two Additional Battery Metal Projects to Kendrick Resources PLC

Vancouver, British Columbia–(Newsfile Corp. – August 8, 2023) – EMX Royalty Corporation (TSXV: EMX) (NYSE American: EMX) (the “Company” or “EMX”) is pleased to announce the execution of an agreement (the “Agreement”) to add its Mjövattnet and Njuggträskliden nickel-copper-PGE-cobalt projects in Sweden (the “Swedish Projects”) to an existing arrangement with Kendrick Resources PLC (“Kendrick”), a current EMX partner. Mjövattnet and Njuggträskliden battery metals projects will follow the same schedule of work commitments, advance royalty payments and milestone payments as the Espedalen battery metals project in Norway, another EMX royalty property being advanced by Kendrick. EMX will retain a 3% NSR royalty on the Swedish Projects along with other considerations summarized below. Kendrick is a Scandinavian focused energy metal exploration and development company currently listed on the London Stock Exchange (“LSE”) under the trading symbol “KEN”. See Figure 1 for project locations.

Each of the Swedish Projects contain nickel-copper-cobalt-PGE (Ni-Cu-Co-PGE) sulfide deposits associated with mafic-ultramafic intrusive complexes in the Skellefteå region of north-central Sweden, and both contain historical mineral resources. The Skellefteå area is known for its mining culture and heritage and is home to multiple actives mines, processing facilities and Boliden AB’s Rönnskär smelting complex.

The addition of the Swedish Projects follows Kendrick’s recent announcement of compelling drill results from the Espedalen battery metals project in Norway, a key EMX royalty property. Kendrick recently announced drill reported but Espedalen, including 11.60 meters averaging 2.85% nickel, 1.04% copper and 0.08% cobalt from 52.4 meters depth in drill hole ESP23-08, drilled at the Stormyra prospect on the Espedalen license (true width not reported, but can be estimated at 70-80% according to published cross sections)1. Please see www.EMXroyalty.com for more information on these and other battery metal projects in EMX’s portfolio.

Commercial Terms Overview. In accordance with the Agreement, Kendrick will issue to EMX 15,000,000 options exercisable at a strike price of 1.3 pence (GBX) for 60 months. EMX currently holds an 8.8% equity stake in Kendrick, and the options will allow EMX to maintain its equity position for the foreseeable future. Additional provisions include:

  • A 3% NSR royalty in favor of EMX, 1% of which can be bought down by Kendrick by paying EMX $1,000,000 by the fifth anniversary of the agreement (leaving EMX with a minimum 2% NSR royalty).
  • Annual work commitments of 1,000 meters of drilling on each of the Swedish Projects.
  • Annual Advance Royalty Payments (“AAR’s”) on each of the Swedish Projects beginning at $30,000 in 2024 and escalating by $5,000 per year.

Overview of the Swedish Projects. Regional nickel exploration became a focus of the Swedish Geological Survey (“SGU”) and other state-run mining concerns in the 1970’s and early 1980’s, leading to the discoveries of the Mjövattnet and Njuggträskliden nickel-copper-cobalt-PGE deposits along what became known as the “Nickel Line” in north central Sweden. The Nickel Line is broadly coincident with a belt of similar aged volcanogenic massive sulfide (“VMS”) type deposits and orogenic gold deposits that comprise the greater Skellefteå Mining Region.

Mjövattnet Project. The translation of Mjövattnet is “mead water” in English, which was one of the first nickel sulfide discoveries made along the Nickel Line. Discovered in 1971, the Mjövattnet nickel sulfide deposit occurs along a structural corridor of similar mineralized bodies, including the Lappvattnet Brannorna, and Lappbacken zones to the southwest, each of which have drill defined zones of mineralization, with the latter two also lying within the EMX license (See Figure 2; note that Lappvattnet is currently held by a third party). Notes from the Swedish Geological Company (“NSG”) in 1987 state that Mjövattnet has only been partly explored and its depth potential remains unknown2. Likewise, several clusters of nickel sulfide bearing boulders lie to the northeast and southeast (the Frangsmyran, Holmsvattnet, Långbacken and Vallen occurrences), the bedrock sources of which have yet to be identified.

This combination of known, drilled defined nickel sulfide mineralization which remains open in multiple directions, and the upside potential in the vicinities of the clusters of mineralized boulders makes the Mjövattnet project particularly attractive for further exploration.

Njuggträskliden Project. This deposit was discovered in the early 1970’s via boulder tracing, which led to the identification of several mineralized outcrops. Multiple drill defined zones of nickel sulfide mineralization were delineated in the early 1980’s, many of which were recognized as being enriched in PGE’s, but only some of the collected drill core samples were analyzed for PGE’s.

The drill defined zones of mineralization at Njuggträskliden remain open at depth, and the NSG noted in their summary report that a 10 kilometer corridor of similar boulder clusters with nickel sulfide mineralization remains to be explored at Njuggträskliden (see Figure 3)3. These occurrences all lie within the EMX license and represent considerable upside exploration potential. Since being drilled by the NSG, a few smaller companies have conducted limited exploration in the area, including twinning of some of the historic holes and reanalyzing the historic drill core for PGE’s. However, little to no systematic exploration has taken place.

Recent exploration programs conducted by EMX have identified numerous new copper and nickel soil anomalies on the Njuggträskliden project. Some of these newly recognized anomalies coincide with clusters of mineralized glacially transported boulders, the source(s) of which have not yet been discovered.

Exploration Plans for 2023. Permitting for drill testing has already begun, and Kendrick expects to commence a maiden drill program at Mjövattnet in later 2023 or early 2024.

Comments on Nearby and Adjacent Properties. The mines and deposits discussed in this news release provide context for EMX’s Projects, which occur in a similar geologic setting, but this is not necessarily indicative that the Projects host similar quantities, grades or styles of mineralization.

Dr. Eric P. Jensen, 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”, and also trade 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 March 31, 2023 (the “MD&A”), and the most recently filed Annual Information Form (“AIF”) for the year ended December 31, 2022, 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.sedarplus.ca and on the SEC’s EDGAR website at www.sec.gov.



Figure 1: Location map of the Swedish Projects.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1508/176252_c1e423f684f889d1_002full.jpg



Figure 2: Mineralized trends, occurrences and geophysical map of the Mjövattnet project.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1508/176252_c1e423f684f889d1_003full.jpg



Figure 3: Mineralized trends, occurrences and geophysical map of the Njuggträskliden project.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1508/176252_c1e423f684f889d1_004full.jpg

1 See Kendrick Resources PLC News Release dated May 4, 2023: “Stormyra Second Batch Assay Results Maiden Diamond Drill Programme”. EMX has not performed sufficient work to verify the published assay results, and these data cannot be verified as being compliant with NI43-101 standards. However, EMX believes these results to be reliable and relevant.
2 Information from the Geological Survey of Sweden archives in Malå., Sweden.
3 Information from the Geological Survey of Sweden archives in Malå., Sweden., including report BRAP 81007, 1981, Nickelmineraliseringarna i Njuggtraskliden.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/176252