Cathedral Well, Nevada | EMX Royalty Corp.

Cathedral Well hosts Carlin-style gold targets at the southern end of the Battle Mountain-Eureka gold trend. The property is located approximately 55 kilometers southwest of Ely, Nevada, and virtually surrounds the historic Green Springs mining district. The historic open pit mines exploited oxide gold mineralization developed in the upper Chainman and along the Joanna-Chainman contact, which are important host units in the region (i.e., Midway Gold’s Gold Rock project and Pilot Gold’s Griffon project). Several northern historic exploration holes, drilled by USMX, revealed mineralization associated with the underlying Pilot Shale, which is another important host unit in the region (i.e., Alligator Ridge and Midway Gold’s Pan deposit).

EMX acquired the property through staking in 2008, and completed 30.5 line kilometers of NSAMT and CSAMT geophysical surveys, soil and stream sediment surveys totaling 1,597 samples, and six reverse circulation drill holes totaling 1,426 meters over the western target area, all funded by a previous partner. Cathedral Well contains numerous outcropping jasperoids and de-calcified zones developed along the Joanna-Chainman sedimentary rock contact, as well as widespread alteration in sedimentary units above and below the Chainman Formation. The Pilot Shale remains largely untested across the property.

EMX entered into an Exploration and Option Agreement with Ely Gold Royalties (Now Gold Royalty Corp) for Cathedral Well in July 2014. The Cathedral Well property bounds Ely Gold’s Green Springs project area to the east and the west. Ely Gold earned-in to the project in November 2016, with EMX retaining a 2.5% NSR royalty interest, inclusive of an underlying 0.5% NSR royalty. Ely Gold optioned the property in July 2019 to Clover Nevada II LLC, a subsidiary of Contact Gold Corp. In December 2022, Centerra entered into an option agreement to acquire a 70% interest in Green Springs. Contact Gold, the current operator, was acquired by Orla Mining Ltd. in February 2024.

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

Maps

Geological map of Cathedral Well and target areas.

Geological cross section of Cathedral Well target areas.

Photos

Outcropping jasperoid at surface containing anomalous gold values.

Eastern side of the Cathedral Well land position looking to the north.