South Orogrande, Idaho | EMX Royalty Corp.

The South Orogrande project is located ~22 km southwest of Elk City, Idaho. There are two targets consisting of 1. potential for large bulk tonnage oxide and/or sulfide gold deposits and 2. potential for large bulk tonnage orogenic Au-quartz veins. The host rocks are Cretaceous granodiorite, Mesoproterozoic biotite gneiss and minor schist; all excellent sources of Fe for sulfidation and disseminated mineralization. Mineralized Eocene hypabyssal porphyritic dike swarms.

South Orogrande is within a major mineralized zone of the regionally important Orogrande shear zone. Alteration is defined by coarse muscovite alteration of metamorphic biotite, fine muscovite (sericite) alteration of feldspar, and milky quartz goethite-jarosite-hematite veins, likely after quartz-pyrite ± arsenopyrite. Historic DIGHEM airborne electromagnetic and gradient-array induced polarization (IP) surveys identified conductive and chargeable zones for follow up.

March 2023 EMX sold the Property to Scout Exploration LLC. The terms of the agreement provide EMX with an equity interest, a retained 3.25% net smelter return (“NSR”) royalty interest, annual advance royalty (“AAR”) payments, and certain milestone payments as the Project is advanced.

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

¹NI 43-101: Technical Report, Idaho Gold Project. Prepared by Geosim for Premium Exploration Inc. 4/8/13. The Qualified Person is Ronald G.Simpson P.Geo

²The mineral resources reported for the Buffalo Gulch projects in Idaho, USA, are from Endomines Ore Reserve and Mineral Resource Estimate update April 9, 2019 are classified in accordance with standards defined by Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”), “CIM Definition Standards – For Mineral Resources and Mineral Reserves”. Mr. Zachary J. Black, SME-RM, is the Qualified Person responsible for the mineral resource estimate for the Friday Underground and Buffalo Gulch Projects.

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