Olinghouse Royalty

100% OWNED

In August 2024, Nevada Canyon Amended and exercised its Option to Purchase Agreement, and acquired the 1% net smelter returns royalty. The Olinghouse Project has an historic mineral resources (Alta Gold Feasibility Study 1997) as summarized in the table below.

Type

Royalty
Interests

Operator

Lake Mountain
Mining LLC

Location

Walker Lane
Shear Zone, NV

Project Overview

The Olinghouse gold resources, which includes Indicated resources totaling 10,815,000 tons averaging 0.038 oz Au/ton (411,000 ounces), with an additional 9,842,000 tons averaging 0.028 oz Au/ton (284,000 ounces) assigned to the Inferred category.

The Project’s current owner, Lake Mountain Mining, LLC is currently reviewing its financing plans for additional exploration, required permitting, economic studies and various capital expenditures towards a production re-start decision in the near future. A large portion of the Olinghouse Property remains relatively unexplored. The Project has excellent potential to increase the current gold resources in excess of 1m+ ounces.

In August 2024, Nevada Canyon Amended the remaining terms of its Option to Purchase Agreement, and exercised its Option to acquire the 1% net smelter returns royalty (NSR) on Olinghouse for $1,500,000.

INFERRED
RESOURCES

Classification Tonnes (000’s) Au/ton oz Au oz
Indicated (Upper Pit) 0.01 Au/ton cut-off 10,815 0.038 411,000
Inferred (Lower Pit) 0.01 Au/ton cut-off 9,842 0.028 284,000
Total Au oz 695,000

Nevada Canyon considers this historical estimate (Alta Gold Feasibility Study 1997) to be reliable and relevant, however it is not treating this historic estimate as current compliant mineral resources.

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