Kingsrose Mining Limited (ASX:KRM) has acquired 100% interest in 19 exploration licences from Viad Royalties AB for AUD 8.5 million on March 4, 2024. The cash payment of AUD100,000 and spending a minimum of AUD 1.5 million on exploration during a 12-month option period. Following exercise of the option, Kingsrose has, Provide EMX with a 2.5% NSR royalty interest in the EMX Licences. On or before the eighth anniversary after exercise of the option, Kingsrose has the option to purchase 0.5% of the NSR on the EMX Licences by paying EMX AUD 1.2 million. To maintain its interest in the EMX Licences, Kingsrose will spend additional exploration expenditures of AUD 1.5 million by the second anniversary, AUD 3.5 million by the third anniversary, and AUD 3.5 million by the fourth anniversary of the agreement, respectively, for a total of AUD 1 million in exploration expenditures within 4 years. To 31 December 2023, Kingsrose has spent AUD 0.431 million therefore already exceeding the expenditure requirement by the second anniversary. Pay to EMX annual advance royalty payments of AUD 0.025 million commencing on the third anniversary of the agreement, with the AAR payment increasing 10% each year thereafter. A milestone cash payment of AUD 2.5 million will be made to EMX upon completion of the first 10,000 metres of drilling on the EMX Licences. An additional milestone cash payment of AUD 5 million will be made to EMX upon disclosure of a Mineral Resource from within the EMX Licences.

Kingsrose Mining Limited (ASX:KRM) has completed the acquisition of 100% interest in 19 exploration licences from Viad Royalties AB on March 4, 2024.