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TICKERS: ELY; ELYGF; A2JSL0

Royalty Company to Sell Claims on Nevada Property
News Update

Source:

Ely Gold Royalties will retain a 2% net smelter returns royalty on any future production there.

Ely Gold Royalties Inc. (ELY:TSX.V; ELYGF:OTCQX; A2JSL0:FSE) announced in a news release that its subsidiary, Nevada Select Royalties, agreed to provide Provenance Gold an option to buy 30 unpatented lode mineral claims covering two miles of the White Rock gold project in Nevada.

According to the agreement, Provenance will pay Ely Gold $250,000 in tranches over four years. After paying $10,000 on closing of the agreement, Provenance will pay $25,000 on the first anniversary of the closing, $40,000 on the second anniversary, $50,000 on the third and $125,000 on the fourth.

Ely Gold will retain a 2% net smelter returns royalty on any metal produced at White Rock in the future. That royalty includes a $25,000 annual advance minimum royalty payment.

Provenance, upon signing the agreement, will become assume all property lease costs. The company will have access to all historical data and may conduct exploration at White Rock though the agreement does not require Provenance to do any work there.

In the Goose Creek Mountains along Nevada's border with Utah, in the Delano Mining District, the White Rock area boasts a "Permian-age bedded sequence of limestone, chert, siliceous siltstone and cherty limestone," the release noted.

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Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
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5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Ely Gold Royalties, a company mentioned in this article.




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