Jacknife, Idaho

The Jacknife Project targets a district-scale Ag-Pb-Zn vein system in northern Idaho, 45 km NW of the world-famous Silver Valley district. EMX is the first to consolidate the district and the tenement position includes 335 acres of patented land, which requires no permitting for exploration and minimal permitting for a full-scale underground mine in the state of Idaho.

The host rocks at the Jacknife Project are Mesoproterozoic carbonate and clastic units (Striped Peak, Wallace, St. Regis Fm.), analogous to host units in the Silver Valley. Mineralization occurs as 0.5-5 m thick siderite-calcite-quartz veins with tetrahedrite and argentiferous galena. The mineralized veins exploit ENE and NE-striking shear zones and there are multiple structural intersections on the property, which are key untested targets. The known veins have a strike length of more than 7 km. The typical vertical extents of productive Silver Valley-type veins can exceed 1-2 km and historical mining on the land position exploited a small portion of the vein system to more than 600 m depth. Regionally, veins strengthen within the deeper St. Regis and Revett Fms.

A historical resource from the 1970s and 1980s was identified over a 500 m section of the vein system using underground sampling. Although there has been very limited step out drilling within the resource, historical work by Sunshine and Duval in the 1960s and 1970s identified numerous zones of geochemically anomalous Ag-Pb-Zn beyond the known resource.

Note: The historical resource and the summary of historical geochemical surveys are published in “Mines Management, Reserve Estimate – Conjecture Mine Project, Lakeview Mining District, Bonner County, Idaho” authored by Richard W. Morris in 1981. EMX has not performed sufficient work to classify the historic mineral resource estimates as current mineral resources, and EMX is not treating the estimates as current NI 43 101 compliant mineral resources. The historic estimates should not be relied upon until they can be confirmed. However, the drill delineated mineralization as reported in the referenced report is considered relevant and reliable. Additional work to verify or upgrade the historical estimates as current mineral resources would include a) check assaying of historic assay results, b) confirmation drilling, and c) review/updating of the geologic interpretation.

Historical drill results are from Shoshone Silver’s “Lakeview Project Drilling – 2008” internal report and from Black Bountain Resources news released dated October 17, 2012. EMX has not performed sufficient work to verify these results and these data cannot be verified as being compliant with NI43-101 standards, but EMX believes this information is considered reliable and relevant.

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.

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