Maverix Metals Inc. (NYSE American: MMX) (TSX: MMX) is pleased to announce record operating and financial results for the fourth quarter and year ended December 31, 2020.

Full Year 2020 Financial Highlights

• Record revenue of $51.7 million;
• Record cash flow from operating activities, excluding changes in non-cash working capital, of $36.5 million¹;
• Record gold equivalent ounces (“GEOs”) sold of 28,916¹;
• Average cash cost per GEO of $174, resulting in a cash operating margin of 90% or $1,613 per ounce¹; and
• Record net income of $23.7 million, including a one-time gain on an amendment of a royalty interest, and adjusted net income of $15.6 million¹.

Fourth Quarter 2020 Financial Highlights

• Record revenue of $16.6 million;
• Record cash flow from operating activities, excluding changes in non-cash working capital, of $11.5 million¹;
• Record GEOs sold of 8,836¹;
• Average cash cost per GEO of $184, resulting in a cash operating margin of 90% or $1,691 per ounce¹; and
• Net income of $5.3 million and adjusted net income of $6.3 million¹.

Dan O’Flaherty, CEO of Maverix, commented, “Maverix delivered another successful year in 2020 with revenue increasing over 50% from 2019, demonstrating the strength of our diverse, high-quality portfolio of precious metals royalty and stream interests. We look forward in 2021 and beyond, to organic growth from our existing portfolio while continuing to focus on adding value through additional royalty and stream acquisitions. Our capital position has never been stronger, as we are now debt free and have access to the full $120 million available under our credit facility, while holding approximately $55 million in cash and marketable securities. Finally, the recent inclusion in the GDXJ is another milestone for the Company, reflecting the successful execution of our business strategy thus far.”

Summary of Quarterly and Annual Results

For complete details please refer to the Consolidated Financial Statements and associated Management Discussion and Analysis for the quarter and year ended December 31, 2020, available on SEDAR (www.sedar.com), EDGAR (www.sec.gov) or on Maverix’s website (www.maverixmetals.com).

To listen to Maverix’s President, Ryan McIntyre, discuss the record-setting annual results please use this link:
MMX 2020 Results

Inclusion in the VanEck Vectors Junior Gold Miners ETF

Maverix is pleased to announce that it has been added to the VanEck Vectors Junior Gold Miners ETF as of the GDXJ’s first quarter rebalance completed on March 19, 2021.

2021 Outlook

The Company continues to expect the previously announced guidance of attributable GEOs to be between 27,000 to 30,000¹ for 2021 at approximately a 90% cash margin¹ with approximately 99% of expected revenue derived from gold and silver.

Asset Portfolio Updates

Cerro Blanco (1% NSR)

Bluestone Resources Inc. announced the findings of a preliminary economic assessment (“PEA”) that highlights an optimized project which doubles the gold resource ounces and production profile. The recent completion of advanced engineering and optimization work has significantly enhanced the understanding of the project and presented an opportunity to capitalize on its near-surface, high-grade mineralization through an open pit scenario. The PEA highlights an initial 11 year life of mine with production of approximately 2.4 million ounces of gold and 10.2 million ounces of silver. Total measured and indicated resources at Cerro Blanco now stand at 3.0 million ounces of gold and 13.2 million ounces of silver (61.5 million tonnes at 1.5 grams per tonne gold and 6.7 grams per tonne silver).

For more information, please refer to www.bluestoneresources.ca and see the news release dated February 28, 2021.

Silvertip (2.5% NSR)

Coeur Mining, Inc. significantly increased the size of its resource base at Silvertip following the execution of the largest and most successful exploration program in the history of the property. Silver, zinc and lead measured and indicated resources increased by approximately 50%, 45% and 50%, respectively. Similarly, silver, zinc and lead inferred resources grew by approximately 46%, 69% and 37%, respectively.

Coeur highlighted key outcomes of the internal pre-feasibility study for Silvertip during its virtual investor day in December 2020. Notably, Coeur developed a new flowsheet that would help support a potential 75% increase in throughput to 1,750 tonnes per day. Coeur is now progressing the project through a more comprehensive engineering and design phase for the revised flowsheet, while also continuing to build on the momentum of its exploration program. Coeur also plans to continue evaluating opportunities to accelerate certain non-mill related capital projects in 2021, including a new water treatment plant, to help mitigate construction risk should a restart of the project be approved during the second half of the year.

For more information, please refer to www.coeur.com and see the news release dated February 17, 2021.

Qualified Person

Brendan Pidcock, P.Eng., is Vice President, Technical Services for Maverix, and a qualified person under National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical disclosure contained in this news release.

About Maverix

Maverix is a gold-focused royalty and streaming company with a globally diversified portfolio of over 100 assets. Maverix’s mission is to increase per share value by acquiring precious metals royalties and streams. Its shares trade on both the NYSE American and the TSX.