Ely Gold Royalties Completes Royalty Purchase At Lincoln Hill
VANCOUVER - Ely Gold Royalties Inc. has acquired 100% of all rights and interests to a one percent (1.00%) net smelter returns royalty (NSR) on the Lincoln Hill Property, located in Pershing County, Nevada, operated by Coeur Mining Inc. With this transaction, Ely Gold increases its Lincoln Hill Royalty interest to a two percent (2%) NSR. Coeur received Project Record of Decision for the Plan of Operations that includes a new 300-million-ton Stage VI leach pad at the Rochester Mine. The Final Environmental Impact Statement analyzing the environmental effects of the proposed expansion of the Rochester and Packard Mines, was published in the Federal Register Feb. 24, 2020 and Coeur filed an updated NI 43-101 technical report for the Rochester expansion on SEDAR on December 16, 2020.
Trey Wasser, President and CEO, said, "We are very pleased to add another 1% NSR of the Lincoln Hill Royalty to our royalty portfolio. Purchasing additional royalties on our Key Assets is a critical part of our near-term growth strategy. With permitting completed on the leach pad expansion, the higher gold grade Lincoln Hill ore will be in very close proximity to the operations and is expected to extend the life of mine at Rochester. We look forward to delivering more news as Coeur is now undertaking confirmation drilling at Lincoln Hill."