Royalty: Caballo Blanco Project

Veracruz State, Mexico


Operator: Candelaria Mining Corp

Royalty: NSR: 1.5%

Caballo Blanco is a gold project on the east coast of Mexico, located 65 km northwest of Veracruz, Mexico.

The Caballo Blanco property was assembled by Almaden Minerals during a regional Mexican exploration program in the mid 1990s. It consists of two large areas of epithermal gold mineralization –the Northern Zone and the Highway Zone — within a land package containing about 19,000 hectares.

The project is easily accessible by roads with on-site power and clean water and is located in an area of unparalleled infrastructure, near to a power plant, highways and rail systems.

Technical Report

In April 2017, a technical report was completed on Caballo Blanco entitled “Technical Report – Caballo Blanco – Resource Update – La Paila Zone.” The report was prepared by Jim Cuttle and Gary Giroux, who are independent Qualified Persons as defined in NI 43-101. The report discloses an Indicated Resource of 521,000 oz Au (31.2 million tonnes grading 0.52 g/t Au) and an Inferred Resource of 95,000 oz Au (8.6 million tonnes grading 0.34 g/t Au).