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Pine Cove

Operator: Maritime Resources Corp.

Location: Newfoundland, Canada

Royalty: 7.5% NPI (all metals)

Term of Royalty: Life of Mine

Pine Cove is an open-pit gold mine, part of the larger Point Rousse Project, owned and operated by Maritime Resources Corp. Pine Cove is located within the Baie Verte Mining District, in north central Newfoundland, in the Province of Newfoundland Ontario and Labrador, Canada. The Pine Cove deposit was discovered in June 1987.

In October 2024, Maritime announced it had initiated a re-commissioning program at the Pine Cove mill. Maritime has identified approximately 85,000 to 115,000 tonnes of stockpiled and tailings material grading 1.1 g/t gold for approximately 3,000 to 4,000 ounces of contained gold which is expected to be processed during the re-commissioning. In December 2024, Maritime commenced crushing of above-mentioned mineralized stockpiles at the Pine Cove mill as part of the recommissioning of the mill.