Mr. David Cole reports

EMX ROYALTY ANNOUNCES RECORD PRELIMINARY REVENUE FOR YEAR END 2023

EMX Royalty Corp. has released preliminary, unaudited, fourth quarter and annual revenue for the year ended Dec. 31, 2023. All figures are in U.S. dollars.

Annual results

The company earned preliminary revenue and other income and adjusted revenue and other income of $26,621,000 and $37,028,000, respectively, for the year ended Dec. 31, 2023 (2022 -- $18,277,000 and $25,397,000, respectively), which represented a 46-per-cent and 46-per-cent increase, respectively, in comparison with the prior year. The significant increase is due to the commencement of royalty payments from the Timok royalty property, which resulted in $8,632,000 in royalty revenue in 2023, as well as an 80-per-cent increase in royalty revenue from Gediktepe and 46-per-cent increase in attributed royalty revenue from Caserones. In 2023, the company recognized revenue from the Timok royalty property that was partially related to 2021 and 2022 sales. The portion attributed to Timok production in 2021 and 2022 amounted to $4.79-million.

Fourth quarter results

The company earned preliminary revenue and other income and adjusted revenue and other income of $7,546,000 and $10,921,000, respectively, for the three months ended Dec. 31, 2023 (2022 -- $2,288,000 and $3,535,000, respectively), which represented a 230-per-cent and 209-per-cent increase, respectively, in comparison with Q4 2022.

"Two thousand twenty-three was an unprecedented year for EMX. We achieved record revenues with the commencement of royalty payments from our flagship Timok royalty property combined with solid growth from our stable of quality cash flowing royalties," commented Dave Cole, chief executive officer. "We expect to continue to grow the company in 2024 and continue to deliver shareholder value through our royalty generation business model."

2024 guidance

The company is expected to file financial statements for the year ended Dec. 31, 2023, before the end of Q1 2024. As part of this filing the company anticipates providing revenue guidance for 2024.

Caserones update

In January, 2024, EMX acquired an additional 2.737-per-cent ownership in the underlying Caserones royalty holder, Sociedad Legal Minera California Una de la Sierra Pena Negra (SLM California), for cash consideration of $4,742,000 pursuant to an agreement with Franco Nevada Corp. The acquisition provides EMX with a further 0.0531-per-cent (effective) net smelter royalty (NSR) interest in the Caserones property, increasing the company's NSR royalty interest to 0.8306 per cent.

About EMX Royalty Corp.

EMX is a precious and base 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 TSX Venture Exchange under the symbol EMX.

We seek Safe Harbor.