The North American Gold Royalty Company

Lincoln Hill

1% NSR

LOCATION Pershing County, Nevada
OPERATOR Coeur Mining
MINERALS Au, Ag
ROYALTY 2% NSR
STATUS Development

The Lincoln Hill property is situated next to Coeur Mining’s Rochester open-pit, heap leach mine, providing significant operational synergies for Coeur. As Coeur moves toward the permitting of the new Stage VI leachpad at Rochester, Lincoln Hill offers nearby higher grade ore.

Overview

According to Coeur Mining, Lincoln Hill is planned to become a source of higher-grade, low-cost production capable of bolstering future cashflow and further extending Rochester’s mine life. Coeur reports Lincoln Hill’s average gold resource grade is more than four times higher than Rochester’s current grade. The Lincoln Hill royalty covers 97 unpatented claims and one patented lode claim. The land also includes 23 unpatented claims known as the Rosal Claims, on which Ely Gold currently holds a 1.5% NSR.

Resources, Grades and Operations

According to a PEA published by previous owner Rye Patch Gold in October 2014, Lincoln Hill contains a measured and indicated oxide resource of 285,000 ounces of gold and 7.3 million ounces of silver in 23.4 million tonnes of ore. The resource includes an additional 74,000 ounces of gold and 2.2 million ounces of silver in inferred oxide resources.

Lincoln Hill Measured & Indicated Resources

Measured Indicated
Cutoff Grade AuEq (g/t) Tonnes (000) Au Grade (g/t) Ag Grade (g/t) Au oz (000) Ag oz (000) Tonnes (000) Au Grade (g/t) Ag Grade (g/t) Au oz (000) Ag oz (000)
Oxide 0.10 3,805 0.42 11.01 51 1,347 19,673 0.37 9.35 234 5,914
Sulfide 0.20 406 0.50 18.81 7 246 5,427 0.41 15.71 72 2,741
Total 4,211 0.43 11.76 58 1,592 25,100 0.38 10.73 306 8,655

Lincoln Hill Inferred Resources

Inferred
Cutoff Grade AuEq (g/t ) Tonnes (000) Au Grade (g/t) Au Grade (g/t) Au oz (000) Ag oz (000)
Oxide 0.10 8,802 0.26 7.87 74 2,227
Sulfide 0.20 12,020 0.47 15.36 182 5,936
Totals 20,822 0.38 12.19 255 8,163

Looking Ahead

Coeur Mining is developing Lincoln Hill with the intent of bringing it to production in late 2022 or early 2023. According to Mitchell J. Krebs, President and Chief Executive Officer of Coeur Mining, Lincoln Hill will provide higher-grade ounces near Rochester’s infrastructure, which should allow Coeur to "generate high returns, higher margins and strong cash flow with little incremental capital."

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