Operator: Nevada Gold Mines LLC

Location: Nevada, United States


Legacy Zone:

9.4% approx. blended GSR royaltyon Pipeline and Crossroads

CC Zone:

1.6% approx. blended GSR royalty1 on Cortez Hills, Cortez Pits,

Fourmile and Goldrush

2.2% approx. blended GSR royalty1 on Goldrush SE

0.45% GSR royalty on Robertson

Term of Royalty: Life of Mine

1. Approximate blended royalty rates determined as detailed in the "Our Royalty" tab

The Cortez Complex is a series of large open-pit and underground mines, utilizing mill, roast and heap leach processing. The Cortez Complex is operated by Nevada Gold Mines LLC (NGM), a joint venture between Barrick Gold Corporation (61.5%) and Newmont Corporation (38.5%). Royal Gold owns various royalty interests across the Cortez Complex that include coverage of the producing Pipeline, Crossroads, Cortez Pits and Cortez Hills mines, the Goldrush, Fourmile and Robertson development projects, and several exploration targets on a large land package.

The mineralization found at the Cortez Complex includes Carlin-type sedimentary rock-hosted and porphyry/epithermal deposits. Carlin deposits form as structurally and/or stratigraphically controlled replacement bodies consisting of strata-bound, tabular, disseminated gold mineralization occurring in Silurian-Devonian carbonate rocks.

The open-pits use conventional truck-and-shovel fleets and mining operations move between the various pits over the life of mine plan. Underground operations use large-scale mechanized cut-and-fill and long-hole stoping mining methods. Non-refractory ores from the mines are treated on site through the oxide mill or on heap leach pads, while refractory ore is shipped to NGM’s Carlin Complex for processing.