Mr. David Cole reports

EMX RECEIVES INITIAL ROYALTY PAYMENT FROM ZIJIN

EMX Royalty Corp. has received $6,675,947 in royalty proceeds from its Timok royalty property with Zijin (Europe) International Mining Company Ltd., a wholly owned subsidiary of Zijin Mining Group Ltd. EMX and Zijin recently agreed to an amended and restated royalty agreement that covers Zijin's Brestovac exploration permit area (including the active Cukaru Peki copper and gold mine), as well as portions of Zijin's Jasikovo-Durlan Potok exploration licence (see EMX news release dated Sept. 5, 2023). EMX now owns a 0.3625-per-cent net smelter return (NSR) royalty that is uncapped and cannot be repurchased or reduced.

The approximately $6.68-million royalty payment consisted of $1.59-million from July to December, 2021, payments of $3.20-million from the calendar year 2022 and $1.89-million for the period of January to June, 2023.

Various news media reports recently highlighted Zijin's planned expansion of the Cukaru Peki operation. As reported by Bloomberg News on Aug. 28, 2023, Branko Rakocevic, assistant general manager at Serbia Zijin Mining d.o.o. Bor, commented, "These are vast reserves, which require additional infrastructure, additional investment of around $3.5- to $3.8-billion." This would represent a substantial further investment in the Cukaru Peki project. Zijin is currently producing copper and gold from the upper zone deposit at Cukaru Peki, while concurrently developing the lower zone porphyry copper and gold deposit.

The Cukaru Peki deposits and operations are summarized in Zijin's annual reports and in various Zijin disclosures. An National Instrument 43-101 technical report for the Timok royalty was filed by EMX on SEDAR on March 31, 2022.

Dr. Eric P. Jensen, CPG, a qualified person as defined by National Instrument 43-101 and employee of the company, has reviewed, verified and approved the disclosure of the technical information contained in this news release.

About EMX Royalty Corp.

EMX is a precious, base and battery metals royalty company. EMX's investors are provided with discovery, development and commodity price optionality, while limiting exposure to risks inherent to operating companies. The company's common shares are listed on the NYSE American Exchange and the TSX Venture Exchange under the symbol EMX, and also trade on the Frankfurt Stock Exchange under the symbol 6E9.

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