Vancouver, British Columbia–(Newsfile Corp. – January 30, 2024)- EMX Royal Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX”) is pleased to announce the signing of a purchase agreement with Finish’s private company Aurora Exploration OY (“Aurora”) for Aurora’s royalty rights covering the Mustajärvi gold project in Finland (the “Project”). I am very happy. The Mustajärvi project is located in northern Finland’s rich Central Lapland greenstone belt, where several recent gold discoveries have been made, as well as the Kittilä gold mine operated by Agnico’s Eagle Mines company. The Mustajärvi project is currently Firefox Gold Co., Ltd. (“Firefox”).
The Mustajärvi project was originally acquired by Aurora in 2017 and then sold to Firefox. Further exploration and drilling by Firefox discovered significant gold mineralization within the project area (see various news releases by Firefox from 2018 to his 2023). As part of the deal with Firefox, Aurora will keep his 1% NSR royalty, which EMX will get. Half (0.5%) of the NSR royalties may be repurchased by Firefox for USD 500,000 upon receipt of a positive feasibility study. For more information about the project, please see his Firefox website (www.firefoxgold.com) and the project’s 2018 NI-43-101 technical report filed on SEDAR.
Firefox recently announced a partnership with Agnico Eagle Mines Ltd that includes a third-party allocation of capital to Firefox (see Firefox news release dated December 20, 2023). Firefox reported in its announcement that proceeds from the private placement will be used for further advancement and drilling of the Mustajärvi project.
Summary of commercial terms: In consideration for the royalty interest, EMX will pay Aurora US$80,000 and, subject to final approval from the TSX Venture Exchange, will issue 30,000 shares of the Company’s common stock to Aurora. These are the only considerations when purchasing royalties.
Project Outline. The Mustajärvi project is located in the Central Lapland greenstone belt of northern Finland and hosted within the Mustajärvi Shear Zone (MSZ). The MSZ is located between the Venejoki region and the Sirkka shear zone and is home to numerous gold occurrences and deposits, including the recent Ikkali gold discovery by Rupert Resources.
Gold mineralization at Mustajärvi appears to be developed within an “extended jog” along the MSZ. A drill-defined zone of mineralization is reported trending 2.1 km. Mineralization occurs primarily as quartz-carbonate-tourmaline veins along contacts between intercalated siliceous detrital metasediments and mafic ultramafic volcanic rocks, leading to the formation of gold mineralization in the area. It is a common control. The currently defined mineralized zone remains open along both ends of the trend and deep strike.
Recent exploration activity has focused on the “East Target”, with Firefox reporting the discovery of a new zone of gold mineralization in 2022-2023. Drill intercepts on the East target include hole 22MJ006 containing 28.74 g/t Au from 24.15 meters to 13.85 meters deep, hole 22MJ021 containing 13.09 g/t Au from 11 meters to 15.5 meters deep, and hole 23MJ004. included.20.45 meters of 5.14 g/t Au from a 12 meter deep hole1. Elsewhere on the property, key intercepts include 16.45 meter drill hole 21MJ010 at 7.69 g/t Au from a hole depth of 154.15 meters.1. Firefox and previous explorers have excavated a total of 14,158 meters on the property to date.
Comments regarding the neighborhood and adjoining properties. The deposits, projects, and mines described in this news release provide context for projects occurring in similar geological settings, but this does not necessarily mean that the projects host similar amounts, grades, or styles of mineralization. It does not indicate that it does.
Dr. Eric P. Jensen of 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 technical information contained in this news release.
About EMX. EMX is a precious metals, base metals and battery metals royalty company specializing in the generation and acquisition of royalty rights. EMX investors are provided with discovery, development, and product pricing options while limiting exposure to risks inherent in operating companies. The Company’s common stock is listed on the NYSE American Exchange and the TSX Venture Exchange under the symbol “EMX” and is traded on the Frankfurt Exchange under the symbol “6E9.” For more information, please visit www.EMXroyalty.com.
For more information, please contact us below.
David M. Cole
Representative Director and President
Phone: (303) 973-8585
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scott close
Director of Investor Relations
Phone: (303) 973-8585
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Isabel Berger
Investor information (Europe)
Phone: +49 178 4909039
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Neither 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.
Forward-looking statements
This news release may contain “forward-looking statements” that reflect the Company’s current expectations and projections regarding future results. These forward-looking statements include, but are not limited to, the perceived merits of the property, exploration results and budgets, mineral reserve and resource estimates, work plans, capital expenditures, timelines, strategic plans, market prices for precious and base metals, or It may contain statements regarding other statements that are not. statement of fact. When used in this news release, words such as “estimate,” “intend,” “expect,” “anticipate,” “plan,” “believe,” “potential” and similar expressions refer to forward-looking statements. The purpose is to identify the description. By their nature, they are not guarantees of the Company’s future operating or financial performance and are subject to risks and uncertainties, and the Company’s actual results, performance, prospects or opportunities may differ from those expressed herein. It may be influenced by other factors that may cause significant differences. These forward-looking statements include these forward-looking statements. These risks, uncertainties and factors include the unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in market valuations of commodities, and obtaining necessary approvals to develop mineral projects; This includes, but is not limited to, increased regulatory compliance. costs, project funding expectations from joint venture partners and other factors;
Readers are cautioned not to place undue reliance on these forward-looking statements. These statements speak only as of the date of this news release or as of the date specifically indicated herein. risks and uncertainties, including those identified in this news release and others described in the Company’s MD&A for the quarter ended September 30, 2023 (the “MD&A”) and recent MD&A; Due to risks and uncertainties, including risk factors and forward-looking statements, actual events may differ according to information filed in our Annual Information Form (“AIF”) for the year ended December 31, 2022. may differ significantly from current expectations. Further information about our company, including our MD&A, AIF, and financial statements, is available on SEDAR. www.sedarplus.ca SEC’s EDGAR website (below) www.sec.gov
Figure 1. Project location
1 Firefox stated in news releases dated September 9, 2021, September 6, 2022, January 18, 2023, and July 18, 2023 that “drilling will be perpendicular to the mineralization depression. however, the actual width is still unknown and will be confirmed by additional drilling and geological modeling.” These results are reported in accordance with the NI43-101 protocol and are reliable and relevant. Although it is believed that there is, EMX has not done sufficient work to verify published assay results.