Operator: Nevada Gold Mines LLC

Location: Nevada, United States


Legacy Zone:

9.4% approx. blended GSR royalty on Pipeline and Crossroads

CC Zone:

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

Fourmile and Goldrush

2.2% approx. blended GSR royalty on Goldrush SE

0.45% GSR royalty on Robertson

Term of Royalty: Life of Mine

The Cortez Complex is held within the Barrick-operated Nevada Gold Mines (“NGM”) joint venture owned by Barrick Gold Corporation (“Barrick”) (61.5%) and Newmont Corporation (38.5%). The operation is located approximately 95 kilometers southwest of Elko, in Lander County, Nevada. The Cortez property  is situated along the Cortez-Battle Mountain trend.

The Cortez Complex is a series of large open-pit and underground mines, with oxide milling and heap leach processing facilities. 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, while refractory ores are shipped to NGM’s Carlin Complex for processing by autoclave or roaster facilities.