Operator: Aurora Metals Limited

Location: Queensland, Australia

Royalty: 1.5% NSR (all metals)

Term of Royalty: Life of Mine

The Balcooma royalty covers the Balcooma open-pit and underground mines and the Dry River South underground mine operated by Aurora Metals Limited. These mines are located in the Central Region of North Queensland, approximately 180 kilometers west of Townsville.

The Balcooma deposit is hosted by a meta-pelite lens within the Clayhole Creek Beds, which has been divided into a lower and upper greywacke. The Dry River South deposit is a zinc, lead-rich polymetallic orebody that dips at a shallow angle to the east-southeast and plunges gently to the south-southwest. Mined ore is hauled approximately 150 kilometers to Mount Garnet by road-train for processing at the Mount Garnet Processing Plant.