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

EMX Royalty has announced the purchase of a 0.625% NSR royalty interest in the Urasar gold-copper project in northern Armenia, owned by Hayasa Metals. The acquisition is part of a Joint Acquisition Agreement with Franco-Nevada , which also acquired a 0.625% NSR royalty.

The combined payment of US$1 million (EMX: US$450,000, Franco: US$550,000) includes the 1.25% NSR royalty interest split between both companies and 500,000 share purchase warrants (250,000 each) exercisable within 18 months at C$0.22 per share. Both companies will have a right of first refusal on any future royalty or stream interest.

The Urasar project, acquired by Hayasa in 2023, is located along a regional structural zone with gold and copper mineralization. The site has historical significance, with French copper production during WWI and Soviet exploration in the 1920s-1950s. The project shows similarities to Armenia’s largest gold deposit, Sokt, and is situated in a country with an active mining sector and favorable mining regulations.