Diablillos

 EMX has a 1% NSR royalty on the Diablillos high sulfidation oxide silver-gold project, located in the Puna region of the Province of Salta, Argentina. The project is operated by AbraSilver Resource Corp. (TSX-V: ABRA) which has an option to acquire 100% of the Diablillos property from SSR Mining.

Aftermath continues to advance Diablillos with ongoing drilling and metallurgical programs. Preliminary metallurgical tests indicate high recoveries from a crushing, grinding and agitated leach plant with a Merrill-Crowe circuit.

Significant exploration upside remains at the Diablillos project, including resource extensions at Oculto and Fantasma (a satellite zone of Ag-rich epithermal mineralization related to Oculto), Laderas, and Alpaca. Most of the longer-term distal targets are aligned along a curving trend and are collectively known as the Northern Arc zones. These zones lie approximately three to four kilometers north-northeast of the center of the Oculto deposit. All encompass epithermal silver-gold targets similar in style to Oculto and Fantasma.

Diablillos has a Mineral Resource estimate referenced from a technical report titled “NI 43-101 Technical Report Mineral Resource Estimate- Diabillos Project” filed on SEDAR with effective and report dates of November 22, 2023, and authored by Luis Rodrigo Peralta, FAusIMM CP (Geo) and Joseph M. Keane, P.E., Q.P. for AbraSilver as summarized in the table below.*

*Mineral Resources have been estimated in accordance with CIM guidelines. Contained metal does not take into account recovery losses. The Mineral Resources represent the most recent publicly disclosed estimates for Diablillos. Other notes included by AbraSilver for the Mineral Resource estimate include:

1. Mineral Resources are not Mineral Reserves and have not demonstrated economic viability.
2. The formula for calculating AgEq is as follows: Silver Eq oz = Silver oz + Gold oz x (Gold Price/Silver Price) x (Gold Recovery/Silver Recovery).
3. The Mineral Resource model was populated using Ordinary Kriging grade estimation within a three-dimensional block model and mineralized zones defined by wireframed solids, which are a combination of lithology and alteration domains. The 1m composite grades were capped where appropriate.
4. The Mineral Resource is reported inside a conceptual Whittle open pit shell derived using US$ 24.00/oz Ag price, US $1,850/oz Au price, 82.6% process recovery for Ag, and 86.5% process recovery for Au. The constraining open pit optimization parameters used were US $1.94/t mining cost, US $22.97/t processing cost, US $3.32/t G&A cost, and average 51-degree open pit slopes.
5. The MRE has been categorized in accordance with the CIM Definition Standards (CIM, 2014).
6. A Net Value per block (“NVB”) cut-off was used to constrain the Mineral Resource with the conceptual open pit. The NVB was based on “Benefits = Revenue-Cost” being positive, where, Revenue = [(Au Selling Price (US$/oz) - Au Selling Cost (US$/oz)) x (Au grade (g/t)/31.1035)) x Au Recovery (%)] + [(Ag Selling Price (US$/oz) - Ag Selling Cost (US$/oz)) x (Ag grade (g/t)/31.1035)) x Ag Recovery (%)] and Cost = Mining Cost (US$/t) + Process Cost (US$/t) + Transport Cost (US$/t) + G&A Cost (US$/t) + [Royalty Cost (%) x Revenue]. The NVB method resulted in an average equivalent cut-off grade of approximately 45g/t AgEq.
7. The Mineral Resource is sub-horizontal with sub-vertical feeders and a reasonable prospect for eventual economic extraction by open pit methods.
8. In-situ bulk density was assigned to each model domain, according to samples averages of each lithology domain, separated by alteration zones and subset by oxidation.
9. All tonnages reported are dry metric tonnes and ounces of contained gold are troy ounces.
10. Mining recovery and dilution factors have not been applied to the Mineral Resource estimates.
11. The Mineral Resource was estimated by Mr. Luis Rodrigo Peralta, B.Sc., FAusIMM CP (Geo), Independent Qualified Person under NI 43-101.
12. Mr. Peralta is not aware of any environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues that could materially affect the potential development of the Mineral Resource.
13. All figures are rounded to reflect the relative accuracy of the estimates. Minor discrepancies may occur due to rounding to appropriate significant figures.
14. Totals may not agree due to rounding.

Maps

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Photos

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