Asset Portfolio

El Mogote

El Mogote is a 3,000 hectare property located in Durango, Mexico, seven kilometers southeast of the town Velardeña. The property hosts prospective fault and hydrothermal breccias that show an association with intense structurally controlled silicification. The altered area exposed at surface extends for 1.5 km along strike and measures 500 m in width. Samples from the altered area have anomalously high arsenic and antimony, with erratic gold concentrations. Previous operators completed an eight hole (~2.6 km) drill program in 2017 and noted low-grade gold mineralization in two holes (source Golden Minerals 2017 Year End Report). Industrias Peñoles purchased the property in 2019. Industrias Peñoles owns the nearby Reina del Cobre polymetallic skarn exploration property and the nearby producing Velardeña zinc-rich polymetallic skarn deposit.

These nearby projects provide context for the El Mogote Project, which occurs in a similar geologic setting. However, this is not necessarily indicative that the Project hosts similar mineralization. EMX acquired the royalty asset from SSR Mining Inc. in 2021 (see EMX Press Release dated July 29, 2021).

Note: The nearby mines and deposits mentioned above provide context for EMX’s Project, which occurs in a similar geologic setting, but this is not necessarily indicative that the project hosts similar tonnages or grades of mineralization