Safe Harbor Statement and Disclaimers • This presentation contains forward-looking statements, as defined in Section 21E of the Securities Exchange Act of 1934, by Ligand and its partners thatinvolve risks and uncertainties and reflect Ligand's and its partners' judgmentasofthedateofthispresentation.All statements,otherthan statementsof historicalfact, couldbedeemedtobeforward-lookingstatements, includingstatements thatexpress Ligand'sorits partners'opinions, expectations,objectives, assumptions,plans orpro ...

Core Viewpoint - EMX Royalty Corporation has entered into an exploration and option agreement with Ridgeline Minerals for the Trench oxide gold project in Nevada, which includes cash and share payments, a 3% net smelter returns royalty, and annual advanced royalty payments upon option exercise [1][4]. Group 1: Project Overview - The Trench Project is an oxide gold, Carlin-type system located in Eureka County, Nevada, approximately 30 kilometers southwest of Carlin [2]. - Historical exploration in the 1990s included surface trenching and limited drilling, with results remaining unknown [2]. - EMX's recent fieldwork has identified significant silicification within the Ordovician section, which may represent overlooked mineralization potential [2][3]. Group 2: Agreement Details - Ridgeline can earn a 100% interest in the Project by making an execution payment of 250,000 shares, option payments totaling $650,000, and completing $500,000 in exploration expenditures over five years [4]. - Upon exercise of the option, EMX will retain a 3% NSR royalty interest, with the possibility for Ridgeline to buy back up to 1% of the royalty [5]. - Ridgeline will also make annual advance royalty payments of $50,000, which will cease upon the commencement of commercial production [5]. Group 3: Strategic Implications - The Trench Agreement represents EMX's strategy to grow its royalty portfolio at a nominal cost while providing near-term cash flow and future exploration upside [3]. - This agreement marks the fourth collaboration between EMX and Ridgeline, highlighting Ridgeline's ongoing efforts to assemble and advance projects in Nevada [3].