EMX Royalty Corp (EMX)

[crookedneck]

HUGE NEWS OUT FOR $EMXX:
http://finance.yahoo.com/news/eurasian-minerals-reports-government-approval-140240264.html

Eurasian Minerals Reports Government Approval to Advance the Malmyzh Copper-Gold Porphyry Project, Far East Russia

Marketwired July 25, 2016Comment
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jul 25, 2016) - Eurasian Minerals Inc. (the "Company" or "EMX") (TSX VENTURE:EMX) (NYSE MKT:EMXX) is pleased to report that IG Copper LLC ("IGC") advises that approval to advance the Malmyzh copper-gold project has been received from the Government Commission on Monitoring Foreign Investment (the "Commission") chaired by Prime Minister Dmitry Medvedev. The Malmyzh exploration and mining licenses are held by IGC (51%) and Freeport-McMoRan Exploration Corporation (49%) (the "Joint Venture"), with IGC operating and managing the project. EMX is IGC's largest shareholder with 41% of the issued and outstanding shares. The Commission's approval marks a pivotal milestone in the development of the Malmzyh project. Please see www.eurasianminerals.com for more information.

EMX is also pleased to announce that key members of the Malmyzh team have been awarded prestigious "Discoverer Medals" by the Russian Federation's Ministry of Natural Resources. The awardees from the Joint Venture's management team include IGC's President and CEO Thomas E. Bowens, Chief Geologist James C. Ashleman, Deputy General Director of Geology Evgeney K. Ignatiev, and Freeport's Vice President of Eurasian Exploration Vertrees "Mac" Canby. This is a highly distinguished honor for these gentlemen, and the Company extends congratulations for their well-deserved recognition.

Discussion of Malmyzh Project Approval. IGC has advised that the Commission's approval represents the successful completion of the review process required for "strategically significant" deposits according to Russian law (i.e., the Law on Foreign Investments in Strategic Industries, also termed the Strategic Industries Law or "SIL"). The SIL approval process commenced after the Joint Venture, through its Russian subsidiary Amur Minerals LLC, received certified "on balance C1+C2 reserves" from the GKZ (State Reserves Committee) that exceeded thresholds for both copper and gold defining Malmyzh as a "strategically significant" mineral deposit. EMX emphasizes that the Malmyzh "C1+C2 reserves" were estimated according to the rules and regulations of the Russian Federation, and are not the same as reserves under NI 43-101. According to IGC, highlights of the Commission's approval include:

The Joint Venture, as a majority foreign owned business entity, has been approved to retain control of the Malmyzh project exploration and mining licenses.
The Joint Venture, therefore, maintains mining and production rights for the Malmyzh and Malmyzh North exploration and mining licenses.
The Joint Venture holds 100% of the rights for the Malmyzh and Malmyzh North exploration and mining licenses, and is entitled to recover all minerals of economic value including copper, gold and by-product minerals.
The conclusion of the SIL process initiates a new, multi-year phase in the project's development. The Malmyzh team is preparing a "Project" (Proekt) document that outlines advanced plans and programs that include additional technical work (i.e., drilling, exploration, metallurgy, engineering, and hydrology), as well as environmental, social, and economic assessments. The detailed Project plan will be submitted to the appropriate agencies for approval. Once accepted, IGC advises that the Joint Venture will commence executing the approved Project plan. This next phase of work will ultimately conclude as a detailed "TEO1 of Permanent Conditions" report, which is considered to be a precursor to commencement of exploitation and mining.

1 Technico-Economicheskiye Obosnovaniye (Technical-Economic Basis).

IGC has expressed its genuine appreciation to the Ministry of Natural Resources, Rosnedra (Federal Agency for Subsoil Use), Dalnedra (Regional Agency for Subsoil Use) and the Government of the Russian Federation for the strong support given for advancing an exceptional mineral deposit asset with world-class potential. Russia strongly encourages mining investment and development, particularly in their Far East Krais (administrative regions). This support is evidenced not only by the rapid SIL approval of the Malmyzh project, but also by the region-wide investment and tax incentives passed into law in 2014 and IGC's agreement with the Far East Development Fund to facilitate high-level investments from across the Russian Federation and Asia (see EMX news release dated November 4, 2015).

Malmyzh Project Overview. Malmyzh is located in the Far East of the Russian Federation, approximately 220 kilometers northeast of the city of Khabarovsk and the nearby border with China. The project is covered by the Malmyzh and Malmyzh North exploration and mining licenses (152.8 sq km), which were the subject of SIL approval, as well as the Malmyzh Flanks exploration license (74.1 sq km) acquired in late 2015 that is in the early prospecting phase of exploration assessment (see EMX news release dated December 10, 2015).