Eagle Royalties Acquires East Goldfield Royalty in Nevada, Issues Incentive Options

CRANBROOK, BC / ACCESSWIRE / August 8, 2024 / Eagle Royalties Ltd. ("ER":CSE, or "Eagle Royalties") is pleased to announce the purchase of a 1% net smelter royalty ("NSR") on the East Goldfield property (the "Property") from Silver Range Resources Ltd. (SNG) ("Silver Range") for consideration of CDN $25,000. The royalty interest has no buy-down provision.

The East Goldfield Property lies 8km kilometres east of the town of Goldfield in Esmeralda County, Nevada and 6 kilometres east of the historic Goldfield Mining District (Goldfield Main Deposit). To date approximately 4.2M oz gold has been produced from this deposit. The East Goldfield property is adjacent to claims comprising the Goldfield Project currently being explored by Centerra Gold, which acquired the project from Waterton Global in February, 2022 for US$206.5M. The Goldfield project contains published Measured and Indicated resources of 1,574,000 ounces gold in 47.3 M t grading 1.03 g/t Au at the Gemfield, McMahon Ridge, and Goldfield Main Deposits (Source: 43-101 Technical Report-Goldfield Bonanza Project). Management cautions that past results or discoveries on proximate land are not necessarily indicative of the results that may be achieved on the subject properties.

See East Goldfield information here

East Goldfield Property Summary (Source: SNG website-July, 2024)

The East Goldfield Property covers the eastern portion of a fault-defined structural corridor localizing gold mineralization in the Goldfield district. The Property is underlain by intensely faulted and hydrothermally altered rhyodacite breccia. Pervasive quartz-alunite alteration occurs throughout the Property and is most intense in the area of numerous resistant, vuggy silica ledges developed along faults and fracture zones. Arroyo sediment and soil geochemical surveys by Silver Range defined anomalies for key high sulphidation pathfinder elements including copper, arsenic, silver and gold associated with the west-northwest striking breccias and faults within the structural corridor. Silver Range interprets the geochemical anomalies and known gold showings as leakage features and believes the East Goldfield Property has the potential to host significant blind high-sulphidation epithermal gold mineralization.

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