Olinghouse Royalty

Partial Ownership

Nevada Canyon has signed an Option to Purchase agreement to acquire 1% net smelter returns royalty (NSR) on the Olinghouse Project The Olinghouse Project currently has an historic mineral resources (Alta Gold Feasibility Study 1997) as summarized in the table below.




Held by
Private Interests


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.

Full consideration of the Agreement consists of the following: (i) an initial cash option payment of $200,000 (paid) upon execution of the definitive agreement. (ii) $2,000,000 which can be paid by Nevada Canyon to the Vendor in either cash, or (iii) 2,000,000 common shares. Closing of the transaction is subject to certain terms and conditions as disclosed in the Definitive Option to Purchase Agreement.


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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