Gold Line Resources Ltd. (TSXV:GLDL) and EMX Royalty Corporation (TSXV:EMX) entered into a definitive agreement to acquire Oijärvi Gold and Solvik Gold Project from Agnico Eagle Mines Limited (NYSE:AEM) for $10 million on March 17, 2021. As per the transaciton, Gold Line will purchase the 100% interest in the projects from Agnico and Agnico will retain a 2% NSR royalty on the Projects, 1% of which may be purchased at any time by EMX for $1 million. Consideration for the transaction is $10 million, comprised of $7 million in cash, $1.5 million in common shares of EMX and $1.5 million in common shares of Gold Line, which shall be paid to Agnico as follows; (a) Upon signing of the agreement - cash payment of $0.75 million, $0.375 million of EMX Shares and $0.375 million of Gold Line Shares; (b) on the first anniversary of the agreement - cash payment of $1.5 million, $5 million of EMX Shares and $5 million of Gold Line Shares; (c) on the second anniversary of the agreement - cash payment of $1.75 million, $6.25 million of EMX Shares and $6.25 million of Gold Line Shares; and (d) on the third anniversary of the agreement - cash payment of $3 million. As part of the agreement, EMX will receive cash and share payments from Gold Line, as well as the purchase right of 1% of Agnico's 2% NSR royalty; (a) Upon signing of the agreement - $0.375 million of Gold Line Shares; (b) on the first anniversary of the agreement - cash payment of $0.25 million and $0.25 million of Gold Line Shares; and (c) on the second anniversary of the agreement - cash payment of $0.312 million and $0.313 million of Gold Line Shares.

Upon completion of the transaction, Gold Line intends to pay a fee of $0.2 million to be split evenly between two arms-length third-parties who assisted in facilitating the transaction, and to be satisfied through the issuance of common shares of Gold Line. EMX will receive additional shares in Gold Line that will increase EMX's ownership position. All common shares issued in connection with the Transaction will be based on the volume-weighted average price for the 20 trading days prior to the date of issuance. Completion of the transaction is subject to customary closing conditions, including the approval by the TSX Venture Exchange.

Gold Line Resources Ltd. (TSXV:GLDL) and EMX Royalty Corporation (TSXV:EMX) completed the acquisition of Oijärvi Gold and Solvik Gold Project from Agnico Eagle Mines Limited (NYSE:AEM) on June 24, 2021. Sam Cole and Jennifer Poirier of Cassels Brock & Blackwell LLP acted as legal advisors for Gold Line Resources.