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Evolve Royalties Announces Binding Letter of Intent to Acquire a Royalty on the Sunnyside Project in Arizona, USA
Adjacent to In-Construction Hermosa Mine (All amounts in United States dollars unless otherwise noted) VANCOUVER, British Columbia, May 14, 2026 (GLOBE
About this update from Evolve Royalties Ltd.
[{"type":"text","content":"Adjacent to In-Construction Hermosa Mine (All amounts in United States dollars unless otherwise noted) VANCOUVER, British Columbia, May 14, 2026 (GLOBE NEWSWIRE) -- Evolve Royalties Ltd. (“Evolve” or the “Company”) (CSE: EVR; OTCQX: EVRYF) is pleased to announce that it has entered into a binding letter of intent with a private royalty holder (“Royalty Holder”) setting out the key terms and conditions pursuant to which Evolve will acquire from the Royalty Holder a 0.5% net smelter returns royalty (the “Sunnyside Royalty”) on production from claims comprising the Sunnyside Project operated by Barksdale Resources Corp. (“Barksdale”) in Arizona, United States, for a total consideration of $2.25 million, payable in a mix of cash and common shares of the Company. The transaction is subject to customary closing conditions, including due diligence, execution of a definitive agreement and receipt of all required approvals, and is expected to close in the second quarter of 2026. The Sunnyside Royalty represents an opportunity for Evolve to acquire copper exploration optionality at modest cost in an established North American mining jurisdiction. The Sunnyside Project is located in Santa Cruz County, Arizona, immediately adjacent to South32 Limited’s Hermosa Project, where construction of the Taylor zinc-lead-silver deposit is underway. The Sunnyside Royalty covers ground that hosts multiple sources of geological potential, including the Triple C target currently being drilled by the operator, Barksdale, as well as exploration potential extensions onto Sunnyside ground of mineralization from South32’s neighbouring Taylor and Peake deposits, as described in Barksdale’s public disclosure. Mineralization hosted on adjacent properties is not necessarily indicative of mineralization hosted on the Sunnyside Project. “The Sunnyside Royalty fits squarely within Evolve’s strategy of acquiring high-quality royalties on copper assets in tier-one jurisdictions. What makes Sunnyside particularly attractive is the multiplicity of geological targets on the royalty ground; from the near surface high-grade copper mineralization the operator is currently drilling at the Triple C target, to the potential for extensions of South32’s neighbouring Taylor and Peake deposits onto Sunnyside. As Barksdale continues to drill and expand its understanding of these ta...