EMX Royalty Files Modified and Updated Timok Project Technical Report on SEDAR
Vancouver, British Columbia – (Newsfile Corp. – August 3, 2021) – EMX Royalty Corporation (US NYSE: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX”) is pleased to announce the filing on SEDAR of a modified and updated Timok Project Technical Report entitled: “NI 43-101 Technical Report – Timok Copper-Gold Project Royalty, Serbia” dated July 21, 2021 and with a effective date of December 31. 2020 prepared by Mineral Resource Management LLC (“MRM”). The amended and updated technical report can be viewed under the company profile at www.sedar.com. EMX holds an uncapped 0.5% net smelter return royalty (“NSR”) on Timok’s Brestovać license, which covers the Čukaru Peki copper-gold development project. The Timok Project is controlled and developed by Zijin Mining Group Co., Ltd. (“Zijin”).
The amended and updated Timok technical report: a) Reaffirms the resources and reserves of the Timok project for the upper zone and the resources for the lower zone as adopted from the public disclosures of Zijin, who is the owner and the current operator of the Timok project. Zijin’s Timok project resources and reserves, disclosed in its 2020 annual report, have complied with the requirements of NI 43-101 and are substantially identical to those of former operator Nevsun, which were referenced in the original report. ; and b) remove the discussion of EMX’s Brestovać West and Durlan Potok royalty properties from the section of the original report titled “Adjacent Properties” in order to comply with the requirements of NI 43-101. The discussion of these two royalty properties has been moved to the “Property Description and Location” section of this amended technical report and reworded to accompany the discussion of Brestovać royalty ownership.
Zijin is on a fast-track schedule for Timok’s Čukaru Peki high sulphidation epithermal copper-gold development project. Recently, Zijin said in a press release dated June 16, 2021, that he “recently obtained the test production permit for processing facilities issued by the Serbian Ministry of Mines and Energy, and entered the test production phase. At present, the construction of the project processing facilities is completed and the production and operation testing, construction conclusion and greening, etc. are taking place at full speed. It is expected that all the work of the test production phase will be completed to be submitted to the Ministry of Mines for acceptance control before September of this year. This will allow a smooth transition from construction of mining infrastructure to production and operation.In addition to the Upper Zone, Čukaru Peki also hosts the underlying Lower Zone porphyry copper-gold resource project, which provides substantial exploration to EMX’s Brestovać royalty asset.
The start of test production and the imminent start of commercial production this year in the upper zone represents a milestone for EMX which purchased its key 0.5% NSR royalty on the Timok project in 2013, shortly. after the discovery of the Čukaru Peki copper-gold deposit. filing (see EMX press release dated February 4, 2014). This acquisition serves as an example of how EMX leveraged its expertise in the country through early recognition of the potential value of Čukaru Peki’s discovery, but also through understanding where the interests of Key royalties were held by third parties who were available for acquisition.
EMX congratulates Zijin for his continued progress in the development of the Timok Project and looks forward to further advancements as the work programs progress.
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 press release.
About EMX. EMX is a precious metals, base and battery royalty company. EMX investors benefit from discovery, development and commodity pricing options, while limiting exposure to the risks inherent in operating companies. The Company’s common shares are listed on the NYSE US Stock Exchange and the TSX Venture Exchange under the symbol EMX. Please visit www.EMXroyalty.com for more information.
For more information contact:
David M. Cole
President and CEO
Telephone: (303) 979-6666
Director of Investor Relations
Telephone: (303) 973-8585
Investor Relations (Europe)
Telephone: +49 178 4909039
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 press release may contain “forward-looking statements” which reflect the Company’s current expectations and projections regarding its future results. These forward-looking statements may include statements regarding the perceived value of properties, exploration results and budgets, mineral reserves and resource estimates, work programs, capital expenditures, timelines, strategic plans, pricing. of the precious and base metals market, or other statements which are not statements of fact. When used in this press release, words such as “estimate”, “intend”, “expect”, “anticipate”, “will”, “believe”, “potential”, ” upside down ”and similar expressions are intended to identify forward-looking statements which, by their very nature, do not constitute guarantees of the future operational or financial performance of the Company, and are subject to risks and uncertainties and uncertainties. other factors which could cause the Company’s actual results, performance, outlook or opportunities to differ materially from those expressed or implied by such forward-looking statements. These risks, uncertainties and factors may include, but are not limited to: unavailability of funding, inability to identify commercially viable mineral reserves, fluctuations in the market value of commodities, difficulties in obtaining approvals required for the development of a mining project, increased 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, which speak only as of the date of this press release or as of the date otherwise specifically stated herein. Due to the risks and uncertainties, including the risks and uncertainties identified in this press release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended March 31, 2021 (the ” MD&A ”), and the most recently filed Annual Information Form (the“ Annual Information Form ”) for the fiscal year ended December 31, 2020, actual events may differ materially from current expectations. Further information on the Company, including the MD&A, Annual Information Form and financial statements of the Company, is available on SEDAR at www.sedar.com and on the SEC’s EDGAR website at ‘address www.sec.gov.
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