Cuale Gold-Silver Royalty (Evrim Resources)
The Cuale Project is a discovery stage high sulphidation epithermal gold-silver project in the Cordillera Madre del Sur of Mexico being advanced by Evrim Resources (www.evrimresources.com). Cuale was identified and staked under a generative alliance between Altius and Evrim in 2012 and is subject to a 1.5% net smelter royalty ("NSR") for precious metals and a 1.0% NSR for base metals payable to Altius.
In April 2018 Evrim (EVM:TSX-V) announced significant "discovery" trench results from La Gloria which included 1.67 g/t gold over 263.2 metres in trench 1 and 13.61 g/t gold over 106.2 metres in trench 4. A third phase of exploration commenced in the summer of 2018 as a prelude to an anticipated 3,000 metre drilling campaign to test the La Gloria zone surface discovery later in the fall. In addition to the royalty held by Altius covering the Cuale Project the Company also holds 11,464,875 common shares of Evrim representing approximately 14% of the outstanding shares along with 2 million warrants priced at $0.50 per share.
Altius Cuale royalty/equity exposure is yet another example of Altius' unique project generation approach to organic royalty creation.