EMX Purchases Royalty Interest Over Hayasa's Urasar Project in Armenia

Core Viewpoint - EMX Royalty Corporation has acquired a 0.625% NSR royalty interest in the Urasar gold-copper project in Armenia, which is owned by Hayasa Metals Inc, marking a significant investment opportunity in the region [1][6]. Group 1: Transaction Details - EMX and Franco-Nevada Corporation will jointly pay Hayasa a total of US$1 million, with EMX contributing US$450,000 and Franco contributing US$550,000 as per their Joint Acquisition Agreement [2]. - The transaction includes a right of first refusal for EMX and Franco regarding any future royalty or similar interests on the Urasar project [2]. Group 2: Project Overview - The Urasar project was acquired by Hayasa in 2023 through an exploration license from the Armenian government, following an assessment of the Tethyan Metallogenic Belt [3]. - The project is located along a regional structural zone with historical copper production and has seen exploration by both French and Soviet entities in the past [4]. - Urasar's mineralization is similar to that of the Sokt gold deposit, the largest developed gold deposit in Armenia, indicating potential for significant discoveries [4][6]. Group 3: Industry Context - Armenia has been attracting exploration and development efforts from western companies, with a favorable mining code and over ten active metal mines contributing significantly to its GDP [5]. - The acquisition of the Urasar royalty represents the first co-investment between EMX and Franco under their Joint Acquisition Agreement, highlighting a strategic partnership in the region [6].