Sagvoll | EMX Royalty Corp.

EMX’s Sagvoll project is located north along the same tectono-stratigraphic trend as the historic Røros district, in central Norway and consists of clusters of VMS style deposits and occurrences and four historic mining areas in a consolidated land position. The license area also includes the historic Skærdalen Ni-Cu-Co mine.

Massive sulfide deposits occur along structural zones hosted in felsic volcanic tuffs within a greenstone belt. Both Cu-Zn (-Au) VMS and Ni-Cu-Co target areas are within the license. Multiple untested EM anomalies occur along trend of known mineralization and historic drilling was shallow and mineralization remains untested at depth.

The project also contains previously unrecognized EM anomalies that lie along the known mineralized trend. EMX believes that application of modern and updated mineral deposit models and new exploration technologies will likely result in new discoveries at Sagvoll.

In July 2022, EMX entered into an exploration and option agreement for the Sagvol and Sulitjelma projects in Norway with Minco Silver Corporation (“Minco”)(TSX: MSV). The agreement provides EMX with cash payments and work commitments during a one-year option period, and upon exercise of an option on either project, EMX will receive equity stakes in Minco, additional work commitments, advance royalty payments, milestone payments and a 2.5% NSR royalty.

Note: The nearby mines and deposits in the region 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.

**EMX has not performed sufficient work to verify the published geochemical, drill and resource data. However, the values in various documents available from the NGU (Norwegian Geological Survey) are considered reliable and relevant.

Maps

¹NGU Deposit Factsheet 1721-018. ²NGU Deposit Factsheet 1721-016. Updated March 2006. ³Falconbridge Geochemical Data. Collected in 2005.⁴NGU Deposit Factsheet 1721-010. Updated March 2013. Updated March 2006. EMX has not performed sufficient work to verify the published historical assay and sampling data, and these data cannot be verified as being compliant with NI43-101 standards. These data should not be relied upon until they can be verified. However, EMX considers these data as reliable and relevant.