Robber Gulch, Idaho | EMX Royalty Corp.

The Robber Gulch project is located ~30 km southwest of Buley, Idaho. Targets include heap-leachable oxide gold at target depths < 250 m with the same host stratigraphy as the Black Pine mine, the Oquirrh Formation. Mineralized fluid conduits extend under post-mineral cover and there is widespread alteration and anomalous Au-Ag-As-Sb-Hg in rock chips. The host rocks are the Penn-Permian Oquirrh Formation (various local members) silty limestone and calcareous sandstone. These rocks are exposed in an erosional window through post-mineral volcanics.

Structurally, N-S striking, steeply W-dipping faults are primary fluid conduits, while bedding serves as secondary fluid pathways. Previous work focused on NW striking structures, now understood as post-mineral. Alteration consists of Jasperoid and minor decalcification in silty limestone and silicification and qtz-goethite veining in calcareous sandstone.

In January 2022, EMX has executed an option agreement for the Robber Gulch gold project in Idaho with Ridgeline Minerals Corp (TSX-V: RDG) (“Ridgeline”). Subsequent to that event, Scout Discoveries Corp. (“Scout”) assumed Ridgeline’s agreement. The Agreement provides EMX with cash payments, share payments, and work commitments during the 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. See Company news release dated January 26, 2022 and Scout news release dated February 21, 2024 for more details.

*Nearby mines and deposits provide context for the project, but do not necessarily indicate similar size, styles or grade of mineralization within the project.

A Qualified Person has not performed sufficient work to confirm the historic drilling records, and EMX is not treating the historic drilling as NI 43-101 compliant. The historic drilling should not be relied upon until it is can be confirmed. However, the drill-indicated mineralized rock as reported in the referenced reports is considered relevant and reliable. Additional work to verify the historic drilling at Robber Gulch would include a) check assaying of historic assay results, b) confirmation drilling, and c) review/updating of the geologic interpretation.

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