Mr. David Cole reports

EMX ROYALTY ANNOUNCES COMMENCEMENT OF NORMAL COURSE ISSUER BID

EMX Royalty Corp. has received approval from the TSX Venture Exchange of its notice of intention to make a normal course issuer bid (NCIB).

Under the NCIB, the company may purchase for cancellation up to five million common shares (representing approximately 4.45 per cent of its issued and outstanding shares, being 112,234,040 shares, as of Jan. 24, 2024) over a 12-month period, commencing on Feb. 13, 2024. The NCIB will expire no later than Feb. 12, 2025.

EMX believes that, from time to time, the market price of its shares may not reflect their underlying value and that the purchase of its shares will enhance shareholder value and increase liquidity of the shares. The company intends to finance the purchases out of available cash.

All purchases made pursuant to the NCIB will be made through the facilities of the TSX-V, the NYSE American Stock Exchange, other designated exchanges and/or alternative Canadian trading systems, or by such other means as may be permitted by applicable securities laws. The NCIB will be made in accordance with the applicable rules and policies of the TSX-V, the NYSE American, and applicable Canadian and United States securities laws. The price that EMX will pay for shares in open market transactions will be the market price at the time of purchase. Any shares that are purchased under the NCIB will be cancelled. The actual number of shares that may be purchased and the timing of such purchases will be determined by the company. Decisions regarding purchases will be based on market conditions, share price, best use of available cash and other factors. The company is not obligated to purchase any particular number of shares under the NCIB, and the NCIB may be modified or suspended at the company's discretion.

EMX has appointed National Bank Financial Inc. to make purchases under the NCIB on its own behalf.

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.

We seek Safe Harbor.