Ely Gold Royalties Purchases Trenton Canyon Royalty

VANCOUVER – Ely Gold Royalties Inc. has agreed to purchase, a 0.3% net smelter returns royalty (NSR) from a private individual (Trenton Canyon Royalty). The Trenton Canyon Royalty covers 52 unpatented mining claims (Royalty Claims) located on the Battle Mountain-Eureka trend, Nevada, which is currently being drilled by SSR Mining. The Trenton Canyon property consists of 7,350 hectares located immediately south and along the mineralized trend from SSR’s Marigold mine where Ely Gold also has a 0.75%. The property was previously operated as an open-pit run-of-mine heap leach operation from 1996 to 2001 by Newmont Corporation. SSR purchased Trenton Canyon from Newmont in June 2019. Recent drilling by SSR, on the Royalty Claims, returned 7.27 g/t gold over 30.5 meters, including 12.2 meters of 17.23 g/t gold, leading to the discovery of gold mineralization that is transitional oxide in drillhole MRA7092. Two additional mineralized intercepts in the MRA7092 returned 19.8 meters of 2.03 g/t gold and 6.1 meters of 3.65 g/t gold. Numerous other drill holes immediately south of the Royalty Claims returned significant results in multiple zones. These include MRA7178 which assayed 94.5 meters of 5.19 g/t gold including 7.6 meters of 44.68 g/t gold.

Trey Wasser, President & CEO, said, “Once again our relationships in Nevada have provided us with an excellent royalty opportunity. SSR is generating exploration excitement at Trenton Canyon and this royalty purchase places us right in the middle of that action. It also fits our strategy of adding to our portfolio of existing royalty positions in Nevada.”