<SEC-DOCUMENT>0001062993-18-001885.txt : 20180502
<SEC-HEADER>0001062993-18-001885.hdr.sgml : 20180502
<ACCEPTANCE-DATETIME>20180502130912
ACCESSION NUMBER:		0001062993-18-001885
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20180502
FILED AS OF DATE:		20180502
DATE AS OF CHANGE:		20180502

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EMX Royalty Corp
		CENTRAL INDEX KEY:			0001285786
		STANDARD INDUSTRIAL CLASSIFICATION:	METAL MINING [1000]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A1
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35404
		FILM NUMBER:		18798698

	BUSINESS ADDRESS:	
		STREET 1:		SUITE 501-543 GRANVILLE STREET
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6C 1X8
		BUSINESS PHONE:		604-688-6390

	MAIL ADDRESS:	
		STREET 1:		SUITE 501-543 GRANVILLE STREET
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6C 1X8

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	EMX ROYALTY Corp
		DATE OF NAME CHANGE:	20170719

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	EURASIAN MINERALS INC
		DATE OF NAME CHANGE:	20040401
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>form6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
<HTML>
<HEAD>
   <TITLE>EMX Royalty Corp.: Form 6-K - Filed by newsfilecorp.com</TITLE>
</HEAD>
<BODY style="font-size:10pt;">
<HR noshade align="center" width=100% size=3 color="black">
<A name=page_1></A>
<P align=center><B><FONT size=5>UNITED STATES </FONT><BR></B><B><FONT
size=5>SECURITIES AND EXCHANGE COMMISSION </FONT></B><BR><B>Washington, D.C.
20549 </B></P>
<P align=center><B><FONT size=5>FORM 6-K </FONT></B></P>
<P align=center><B>REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR
15d-16 <BR>UNDER THE SECURITIES EXCHANGE ACT OF 1934 </B></P>
<P align=center>For the month of <STRONG>May, 2018</STRONG></P>
<P align=center>Commission File Number: <U><B>001-35404 </B></U></P>
<P align=center><B><FONT size=5><U>EMX ROYALTY CORPORATION</U></FONT><BR></B>(Translation of registrant&#146;s name into English) </P>
<P align=center><B>Suite 704 </B><B>&#150;</B><B> 595 Howe Street <BR>
Vancouver,
British Columbia V6C 2T5 <BR>
<U>Canada </U></B><B><U><BR></U></B>(Address of principal
executive offices)</P>
<P align=center>Indicate by check mark whether the registrant files or will file
annual reports under cover Form 20-F or Form 40-F. </P>
<P align=center>[X] Form 20-F&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[&nbsp;&nbsp;&nbsp;]
Form 40-F</P>
<P align=center>Indicate by check mark if the registrant is submitting the Form
6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [&nbsp;&nbsp;&nbsp;]
</P>
<P align=center>Indicate by check mark if the registrant is submitting the Form
6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [&nbsp;&nbsp;&nbsp;]
</P>
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<!--$$/page=--><A name=page_2></A>
<P align=center><B><U>SUBMITTED HEREWITH</U></B></P>
<P align=justify><B><U>Exhibits:</U></B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%" bgColor=#eeeeee><a href="exhibit99-1.htm">99.1 </a></TD>
    <TD bgColor=#eeeeee>
  <P align=justify><a href="exhibit99-1.htm">News release dated May 2, 2018</a></P></TD></TR></TABLE>
<BR>
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<P align=center><B>SIGNATURES </B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of
the Securities Exchange Act of 1934, the registrant has duly caused this report
to be signed on its behalf by the undersigned, thereunto duly authorized. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="50%" align=left >&nbsp; </TD>
  <TD align=left colSpan=2><B>EMX ROYALTY CORPORATION<BR>
  </B></TD>
  </TR>
  <TR>
    <TD width="50%" align=left >&nbsp;</TD>
  <TD align=left colSpan=2>&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD width="50%" align=left >&nbsp; </TD>
  <TD align=left colSpan=2>(Registrant) </TD>
  </TR>
  <TR>
    <TD width="50%" align=left >&nbsp;</TD>
  <TD align=left colSpan=2>&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD width="50%" align=left >Date: May 2, 2018</TD>
    <TD align=left width="8%">By: </TD>
    <TD width="42%" align=left style="BORDER-BOTTOM: #000000 1px solid">/s/
    Marien Segovia</TD>
  </TR>
  <TR>
    <TD width="50%" align=left >&nbsp;</TD>
    <TD align=left width="8%">&nbsp;</TD>
    <TD align=left width="42%">&nbsp; </TD>
  </TR>
  <TR vAlign=top>
    <TD width="50%" align=left >&nbsp; </TD>
    <TD align=left width="8%">Name: </TD>
    <TD align=left width="42%"><p>Marien Segovia</p></TD>
  </TR>
  <TR vAlign=top>
    <TD width="50%" align=left >&nbsp; </TD>
    <TD align=left width="8%">Title: </TD>
    <TD align=left width="42%">Corporate Secretary</TD>
  </TR></TABLE><BR>
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</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exhibit99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<HTML>
<HEAD>
   <TITLE>EMX Royalty Corporation - Exhibit 99.1 - Filed by newsfilecorp.com</TITLE>
</HEAD>
<BODY style="font-size:10pt;">
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<P align=center><IMG
src="logo.jpg"
border=0> </P>
<P align=center><B><U>NEWS RELEASE</U></B></P>
<P align=center><B>EMX Announces Additional High Grade Drill Results at
the</B><BR><B>Gumsberg Zinc-Lead-Silver Royalty Property in Sweden </B><BR></P>
<P align=justify><B>Vancouver, British Columbia, May 2, 2018 (TSX Venture: EMX;
NYSE American: EMX) </B><B>&#150;</B><B> EMX Royalty Corporation (the
</B><B>&#147;Company&#148; or</B><B> </B><B>&#147;EMX&#148;) </B>is pleased to announce additional
high grade zinc-lead-silver diamond drill results from Boreal Metals Corp.'s
(TSX Venture: BMX) ("Boreal") 2017-2018 winter drill campaign at EMX's Gumsberg
royalty property. Gumsberg is located in the Bergslagen mining region of
southern Sweden. The new drill intercepts reported by Boreal were from holes
BM-17-006 through BM-17-012, which tested massive sulfide horizons at the
Vallberget and &#214;stersilvberg prospects. The intercepts include 3.7 meters
averaging 19.27% zinc, with 17.66 g/t silver and 0.25% lead in drill hole
BM-17-006, and 6.7 meters averaging 7.01% zinc, with 11.14 g/t silver and 0.44%
lead in BM-17-011 (true widths estimated at 80-100% of reported interval
lengths)<SUP>1</SUP>. EMX congratulates Boreal on their exploration successes
and advancement of the Company's Gumsberg royalty property. Please see Appendix
1 of this news release for a table of Boreal's select intercepts from the new
drilling. </P>
<P align=justify>Boreal&#146;s recently completed 2,545 meter drill program was
designed to test for extensions of volcanogenic massive sulfide (VMS) style base
metal mineralization along trend and down dip of historic mine workings.
Including the first five holes previously reported<SUP>2</SUP>, the program
succeeded in intersecting significant zinc-lead-silver mineralization in nine of
twelve holes, clearly demonstrating that mineralization persists outside of the
areas that were mined historically. These results represent novel discoveries of
mineralization in the district. All of the geologic targets drilled remain open
along strike and at depth. Boreal is planning follow-up programs on the basis of
these encouraging results.</P>
<P align=justify>EMX has a 19.9% equity interest in Boreal that resulted from
the sale of Gumsberg, as well as four other royalty generation properties in
Sweden and Norway<SUP>3</SUP>. These other properties include two polymetallic
VMS projects (Tynset, Norway and Adak, Sweden), one iron-oxide-copper-gold
(IOCG) type project (Burfjord, Norway), and one cobalt project (Modum, Norway).
Subsequently, in early 2018, EMX sold one cobalt (Guldgruvan, Sweden) and two
nickel-copper-cobalt (Njuggtr&#228;skliden and Mj&#246;vattnet, Sweden) assets to Boreal
Energy Metals Corp. ("BEMC")<SUP>4</SUP>, a subsidiary of Boreal, for which EMX
received in aggregate a 9.9% equity stake in BEMC. In addition to the equity
interests in Boreal and BEMC, EMX retains uncapped 3% net smelter return (NSR)
royalty interests on each of the properties sold to Boreal and BEMC<SUP>5</SUP>,
and will receive annual advance royalty (AAR) payments, and other consideration
from the sale of the projects. </P>
<P align=justify>The Boreal agreements are an excellent example of EMX's
execution of the royalty generation aspect of the Company's business model. EMX
leveraged in-country geologic and business development expertise to acquire
prospective properties on open ground, build value through low cost work
programs and targeting, and partner the projects for retained royalty interests,
equity interests, and AAR payments. This business strategy has provided EMX with
substantial share equity in Boreal and BEMC, exposure to exploration upside at no additional cost, and the potential for
future royalty payments upon the commencement of production. </P>
<P align=justify><SUP>_____________________________________________<BR>1
</SUP><I>See Boreal news release dated May 2, 2018 for a complete table of drill
results. </I><BR><SUP>2 </SUP><I>See EMX news release dated March 1, 2018.
</I><BR><SUP>3 </SUP><I>See EMX news releases dated November 22, 2016 and
January 16, 2018. </I><BR><SUP>4 </SUP><I>See EMX news releases dated February
9, 2018 and April 11, 2018. </I><BR><SUP>5 </SUP><I>Boreal retains a right to
purchase 1% of the NSR royalty on individual projects by paying EMX CDN
$2,500,000 in </I><I>cash and shares within five years of the closing date.
</I></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=center><B><I>Suite 501 </I></B><B><I>&#150; </I></B><B><I>543
      Granville Street, Vancouver, British Columbia V6C 1X8, Canada
  </I></B></TD></TR>
  <TR vAlign=bottom>
    <TD align=center><B><I>Tel: (604) 688-6390 Fax: (604) 688-1157
  </I></B></TD></TR>
  <TR vAlign=bottom>
    <TD align=center><B><I><U><FONT color=#0000ff>www.EMXRoyalty.com
      </FONT></U></I></B></TD></TR></TABLE><BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<A name=page_2></A>
<P align=center>2 </P>
<P align=justify>EMX continues to build its portfolio of precious metal, base
metal, and cobalt properties in Scandinavia. Many new properties are available
for partnership. Please see <U><FONT color=#0000ff>www.EMXRoyalty.com
</FONT></U>for more information. </P>
<P align=justify>Dr. Eric P. Jensen, CPG, a Qualified Person as defined by
National Instrument 43-101 and employee of the Company, has reviewed, verified
and approved the disclosure of the technical information contained in this news
release. </P>
<P align=justify><B>About EMX. </B>EMX leverages asset ownership and exploration
insight into partnerships that advance our mineral properties, with EMX
receiving pre-production payments and retaining royalty interests. EMX
complements its royalty generation initiatives with royalty acquisitions and
strategic investments. </P>
<P align=center>-30- </P>
<P align=justify>For further information contact: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left>David M. Cole </TD>
    <TD align=left width="50%">Scott Close </TD></TR>
  <TR vAlign=top>
    <TD align=left>President and Chief Executive Officer </TD>
    <TD align=left width="50%">Director of Investor Relations </TD></TR>
  <TR vAlign=top>
    <TD align=left>Phone: (303) 979-6666 </TD>
    <TD align=left width="50%">Phone: (303) 973-8585 </TD></TR>
  <TR vAlign=top>
    <TD align=left>Email: <U><FONT color=#0000ff>Dave@EMXroyalty.com
      </FONT></U></TD>
    <TD align=left width="50%">Email: <U><FONT
      color=#0000ff>SClose@EMXroyalty.com </FONT></U></TD></TR></TABLE>
<P align=justify><I>Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release. </I></P>
<P align=justify><B><I>Forward-Looking Statements </I></B></P>
<P align=justify><I>This news release may contain </I><I>&#147;</I><I>forward looking
statements</I><I>&#148;</I><I> </I><I>that reflect the Company&#146;s current expectations
and </I><I>projections about its future results. These forward-looking
statements may include statements regarding perceived merits of properties,
exploration results and budgets, mineral reserves and resource estimates, work
programs, capital expenditures, timelines, strategic plans, market prices for
precious and base metal, or other statements that are not statements of fact.
When used in this news release, words such as
</I><I>&#147;</I><I>estimate,</I><I>&#148;</I><I> </I><I>&#147;</I><I>intend,</I><I>&#148;</I><I>
</I><I>&#147;</I><I>expect,</I><I>&#148;</I><I> </I><I>&#147;</I><I>anticipate,</I><I>&#148;</I><I>
</I><I>&#147;</I><I>will</I><I>&#148;, &#147;believe&#148;,</I><I> </I><I>&#147;potential&#148; </I><I>and
similar expressions are intended to identify forward-looking statements, which,
</I><I>by their very nature, are not guarantees of the Company&#146;s future
operational or financial performance, and are subjec</I><I>t to risks and
uncertainties and other factors that could cause the Company</I><I>&#146;s actual
results, performance, prospects or </I><I>opportunities to differ materially
from those expressed in, or implied by, these forward-looking statements. These
risks, uncertainties and factors may include, but are not limited to:
unavailability of financing, failure to identify commercially viable mineral
reserves, fluctuations in the market valuation for commodities, difficulties in
obtaining required approvals for the development of a mineral project, increased
regulatory compliance costs, expectations of project funding by joint venture
partners and other factors. </I></P>
<P align=justify><I>Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this news release
or as of the date otherwise specifically indicated herein. Due to risks and
uncertainties, including the risks and uncertainties identified in this news
release, and other risk factors and forward-looking </I><I>statements listed in
the Company&#146;s MD&amp;A for the </I><I>12 month period that ended on December 31,
2017 (the </I><I>&#147;MD&amp;A&#148;),</I><I> and the </I><I>most recently filed Form
20-F for the year that ended on December 31, 2017, actual events may differ
materially from current expectations. More information about the Company,
including the MD&amp;A, the 20-F and financial statements of the Company, is
available on SEDAR at </I><U><FONT color=#0000ff>www.sedar.com</FONT></U><I>
</I><I>and on the SEC&#146;s EDGAR website at </I><U><FONT
color=#0000ff>www.sec.gov<I>. </I></FONT></U></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>
  <TR vAlign=top>
    <TD align=center><B><I>Suite 501 </I></B><B><I>&#150; </I></B><B><I>543
      Granville Street, Vancouver, British Columbia V6C 1X8, Canada </I></B></TD>
  </TR>
  <TR vAlign=bottom>
    <TD align=center><B><I>Tel: (604) 688-6390 Fax: (604) 688-1157 </I></B></TD>
  </TR>
  <TR vAlign=bottom>
    <TD align=center><B><I><U><FONT color=#0000ff>www.EMXRoyalty.com </FONT></U></I></B></TD>
  </TR>
</TABLE>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<A name=page_3></A>
<P align=center>3 </P>
<P align=center><B><FONT size=4>Appendix 1 </FONT></B></P>
<P align=center><B>Selected drill intercepts reported in Boreal's May 2, 2018
news release. </B></P>
<DIV align=center>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="80%" border=1>

  <TR vAlign=top>
    <TD align=center><B>Hole </B></TD>
    <TD align=center width="11%"><B>From </B></TD>
    <TD align=center width="11%"><B>To </B></TD>
    <TD align=center width="11%"><B>Length </B></TD>
    <TD align=center width="11%"><B>Zn </B></TD>
    <TD align=center width="11%"><B>Pb </B></TD>
    <TD align=center width="11%"><B>Ag </B></TD>
    <TD align=center width="11%"><B>Au </B></TD>
    <TD align=center width="11%"><B>Prospect </B></TD></TR>
  <TR vAlign=top>
    <TD align=center><B>ID </B></TD>
    <TD align=center width="11%"><B>Meters </B></TD>
    <TD align=center width="11%"
>&nbsp;<STRONG>Meters</STRONG></TD>
    <TD align=center width="11%"
><STRONG>Meters</STRONG>&nbsp;</TD>
    <TD align=center width="11%"><B>% </B></TD>
    <TD align=center width="11%"><B>% </B></TD>
    <TD align=center width="11%"><B>g/t </B></TD>
    <TD align=center width="11%"><B>g/t </B></TD>
    <TD align=center width="11%"><B>Name </B></TD></TR>
  <TR vAlign=top>
    <TD align=left><B>BM-17-006 </B><B><SUP>X </SUP></B></TD>
    <TD align=center width="11%"><B>14.88 </B></TD>
    <TD align=center width="11%"><B>19.95 </B></TD>
    <TD align=center width="11%"><B>5.07 </B></TD>
    <TD align=center width="11%"><B>3.00 </B></TD>
    <TD align=center width="11%"><B>0.96 </B></TD>
    <TD align=center width="11%"><B>9.25 </B></TD>
    <TD align=center width="11%"><B>0.02 </B></TD>
    <TD vAlign=center align=center width="11%" rowSpan=4>Vallberget </TD></TR>
  <TR vAlign=top>
    <TD align=right><I>Incl. </I></TD>
    <TD align=center width="11%">14.88 </TD>
    <TD align=center width="11%">15.93 </TD>
    <TD align=center width="11%">1.05 </TD>
    <TD align=center width="11%">9.29 </TD>
    <TD align=center width="11%">0.88 </TD>
    <TD align=center width="11%">11.16 </TD>
    <TD align=center width="11%">0.08 </TD></TR>
  <TR vAlign=top>
    <TD align=right><I>Incl. </I></TD>
    <TD align=center width="11%">18.80 </TD>
    <TD align=center width="11%">19.95 </TD>
    <TD align=center width="11%">1.15 </TD>
    <TD align=center width="11%">4.38 </TD>
    <TD align=center width="11%">3.38 </TD>
    <TD align=center width="11%">9.35 </TD>
    <TD align=center width="11%">0.02 </TD></TR>
  <TR vAlign=top>
    <TD align=right><B><I>And </I></B></TD>
    <TD align=center width="11%"><B>97.15 </B></TD>
    <TD align=center width="11%"><B>100.85 </B></TD>
    <TD align=center width="11%"><B>3.70 </B></TD>
    <TD align=center width="11%"><B>19.27 </B></TD>
    <TD align=center width="11%"><B>0.25 </B></TD>
    <TD align=center width="11%"><B>17.66 </B></TD>
    <TD align=center width="11%"><B>0.03 </B></TD></TR>
  <TR vAlign=top>
    <TD align=left>BM-17-008 <B><SUP>X </SUP></B></TD>
    <TD align=center width="11%">13.25 </TD>
    <TD align=center width="11%">13.60 </TD>
    <TD align=center width="11%">0.35 </TD>
    <TD align=center width="11%">3.20 </TD>
    <TD align=center width="11%">0.03 </TD>
    <TD align=center width="11%">6.85 </TD>
    <TD align=center width="11%">0.02 </TD>
    <TD vAlign=center align=center width="11%" rowSpan=2>Vallberget </TD></TR>
  <TR vAlign=top>
    <TD align=left>BM-17-008 <B><SUP>X </SUP></B></TD>
    <TD align=center width="11%">86.35 </TD>
    <TD align=center width="11%">87.15 </TD>
    <TD align=center width="11%">0.80 </TD>
    <TD align=center width="11%">1.16 </TD>
    <TD align=center width="11%">0.05 </TD>
    <TD align=center width="11%">0.85 </TD>
    <TD align=center width="11%">0.00 </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>BM-17-011 </B><B><SUP>X </SUP></B></TD>
    <TD align=center width="11%"><B>53.50 </B></TD>
    <TD align=center width="11%"><B>56.65 </B></TD>
    <TD align=center width="11%"><B>3.15 </B></TD>
    <TD align=center width="11%"><B>3.03 </B></TD>
    <TD align=center width="11%"><B>0.62 </B></TD>
    <TD align=center width="11%"><B>11.69 </B></TD>
    <TD align=center width="11%"><B>0.19 </B></TD>
    <TD vAlign=center align=center width="11%" rowSpan=3>Vallberget </TD></TR>
  <TR vAlign=top>
    <TD align=right><I>Incl. </I></TD>
    <TD align=center width="11%">54.73 </TD>
    <TD align=center width="11%">55.20 </TD>
    <TD align=center width="11%">0.47 </TD>
    <TD align=center width="11%">17.80 </TD>
    <TD align=center width="11%">4.02 </TD>
    <TD align=center width="11%">43.00 </TD>
    <TD align=center width="11%">0.58 </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>BM-17-011 </B><B><SUP>X </SUP></B></TD>
    <TD align=center width="11%"><B>130.50 </B></TD>
    <TD align=center width="11%"><B>137.20 </B></TD>
    <TD align=center width="11%"><B>6.70 </B></TD>
    <TD align=center width="11%"><B>7.01 </B></TD>
    <TD align=center width="11%"><B>0.44 </B></TD>
    <TD align=center width="11%"><B>11.14 </B></TD>
    <TD align=center width="11%"><B>0.00 </B></TD></TR>
  <TR vAlign=top>
    <TD align=left>BM-17-012 <SUP>Y </SUP></TD>
    <TD align=center width="11%">321.00 </TD>
    <TD align=center width="11%">322.00 </TD>
    <TD align=center width="11%">1.00 </TD>
    <TD align=center width="11%">1.22 </TD>
    <TD align=center width="11%">0.60 </TD>
    <TD align=center width="11%">6.20 </TD>
    <TD align=center width="11%">0.10 </TD>
    <TD vAlign=center align=center width="11%" rowSpan=3>&#214;stersilvberg </TD></TR>
  <TR vAlign=top>
    <TD align=left>BM-17-012 <SUP>Y </SUP></TD>
    <TD align=center width="11%">325.00 </TD>
    <TD align=center width="11%">329.00 </TD>
    <TD align=center width="11%">4.00 </TD>
    <TD align=center width="11%">1.01 </TD>
    <TD align=center width="11%">0.42 </TD>
    <TD align=center width="11%">4.25 </TD>
    <TD align=center width="11%">0.19 </TD></TR>
  <TR vAlign=top>
    <TD align=left>BM-17-012 <SUP>Y </SUP></TD>
    <TD align=center width="11%">332.00 </TD>
    <TD align=center width="11%">339.00 </TD>
    <TD align=center width="11%">7.00 </TD>
    <TD align=center width="11%">1.56 </TD>
    <TD align=center width="11%">0.85 </TD>
    <TD align=center width="11%">12.20 </TD>
    <TD align=center width="11%">0.18 </TD></TR></TABLE></DIV>
<P style="MARGIN-LEFT: 10%" align=justify><I><SUP>X</SUP></I><I> Apparent widths
reported - true widths are estimated between 80-100% of reported intervals.
</I><BR><I><SUP>Y </SUP></I><I>Apparent widths reported - true widths are
unknown for the disseminated mineralization in hole BM-17-012.</I><I><SUP>
</SUP></I><BR></P>
<P align=justify><B>Statement of Quality Control, Quality Assurance and Core
Handling Protocols reported in Boreal's May 2, 2018 news release. </B></P>
<P align=justify>Drill core is logged and prepped for sampling before submittal
to ALS in Mal&#229;, Sweden where it is cut, bagged and prepped for analysis.
Accredited control samples (blanks and accredited standards) are inserted into
the sample intervals regularly. Samples are dried (if necessary), weighed,
crushed (70% &lt; 2mm), and riffle split into two fractions. One is retained
(coarse reject) and the other is pulverized to 85% &lt; 75&#181;m. Pulps are analyzed
by ultra-trace ICP-MS (ME-MS41) and ICP-AES Au-Pt-Pd (PGM-ICP23). Over detection
limit samples are reanalyzed using ore grade ICP-AES by aqua regia (ME-OG46) or
by AAS in the case of high grade zinc (Zn-AAORE).</P>
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    <TD align=center><B><I>Suite 501 </I></B><B><I>&#150; </I></B><B><I>543
      Granville Street, Vancouver, British Columbia V6C 1X8, Canada </I></B></TD>
  </TR>
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    <TD align=center><B><I>Tel: (604) 688-6390 Fax: (604) 688-1157 </I></B></TD>
  </TR>
  <TR vAlign=bottom>
    <TD align=center><B><I><U><FONT color=#0000ff>www.EMXRoyalty.com </FONT></U></I></B></TD>
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