Isabella Pearl is located within the Walker Lane Mineral Belt, Nevada, U.S.A. The property covers 494 mining
claims comprising 3,642 hectares (9,000 acres). The Isabella Pearl open pit heap leach project, located at the
southeast end of the property position, is currently in construction with first gold pour targeted by June 2019.
Proven and probable reserves included in the Isabella Pearl reserve report (with a drill data cutoff date of
December 31, 2017) include 2,694,500 tonnes grading 2.22 grams per tonne (g/t) gold and 13 g/t silver, equating
to 192,600 gold ounces and 1,129,100 silver ounces. Significant exploration upside exists at Isabella Pearl to
the northwest along a geologic trend containing mineralized outcrops and historic mine workings.
Ely Gold Royalties holds a 2.5% NSR Royalty on certain claims covering the Isabella deposit.
Mina Gold is located in the Walker Lane Mineral Belt, Nevada, U.S.A. The property has a third party mineralized
material estimate of 1,606,000 tonnes grading 1.88 g/t gold in the property’s "Monster Zone". The
Monster Zone consists of parallel structures approximately 45 meters apart which remain open on strike and
depth. The Monster Zone mineralization is covered by patented claims, which are surrounded by multiple
unpatented claims included in the transaction, giving additional exploration upside potential along this
Ely Gold Royalties holds a 3.0% NSR Royalty on Mina Gold.
The County Line property covers an area of approximately 429 hectares (1,060 acres) consisting of 53 unpatented
lode mining claims and one unpatented placer mining claim in central Nevada’s Walker Lane Mineral Belt in
Mineral and Nye counties, Nevada. The Company staked 63 additional unpatented claims around the property to
strengthen the land position and exploration potential. The total land package consists of 939 hectares (2,320
acres). The property is located within close proximity, approximately 14 miles north east, of the Company’s
Isabella Pearl Project.
The County Line property is part of the Paradise Peak collection cluster of high sulfidation epithermal deposits.
The district historically produced a total of 1.5 million ounces of gold and 38.9 million ounces of silver. The
County Line open pit historically produced approximately 81,000 ounces of gold and 760,000 ounces silver. The
Porphyry (East) Pit, located approximately 2,500 feet south east of the County Line pit, produced approximately
7,400 ounces of gold and 8,000 ounces silver. While both open pits represent exploration targets, other targets
include "Newman Ridge" and the "Jackpot Zone".
Ely Gold Royalties holds a 2.5% NSR Royalty on County Line.
The Gold Bar and Gold Canyon properties are both former mines in the
Gold Bar District in Eureka County, Nevada, an active mining area in the
Roberts Mountains within the Battle Mountain-Eureka Trend. The district
contains several Carlin-style sediment-hosted gold deposits including
McEwen Mining Inc.’s (“McEwen”) Gold Bar project, which is scheduled to
produce 62,800 oz Au/annum at $770/oz starting in early 2019
Fremont’s Gold Bar and Gold Canyon projects are adjacent (west) and
immediately north of McEwen’s Gold Bar mine development project, which
is currently under construction and expected to be completed by early
2019. While McEwen’s development project and Fremont’s property share
the same name, the historic Gold Bar mine is held by Fremont and
produced 286,354 ounces of gold from 1986 to 1994
property comprises the former satellite pits to the original Gold Bar
mine and they adopted the historical mine name. However, the original
Gold Bar pit occurs in the south-central portion of Fremont’s
10,096-acre (4,086 ha) land package, five kms southwest of McEwen’s
project. Fremont’s property hosts an historical resource of 147,000
ounces @ 2.57 g/t Au, called the Millsite deposit
Fremont press release dated September 12, 2017) thought to be a faulted
off-set of the former Gold Bar ore body located on the
northwest side of the old pit.