Franco-Nevada has interests in 172 exploration stage mineral properties as at March 22, 2017. By commodity, these include 135 precious metals assets and 37 other minerals exploration assets. Exploration assets are speculative and unlikely to generate revenue to Franco-Nevada in the next five years, if ever. Some of these assets have associated Mineral Resources that, to be economic, may require additional Mineral Resources, higher commodity prices, permitting approval, lower geopolitical risk or a better financing environment. A good portion of the properties are inactive and may not see activity again. Some of the properties are in proximity to producing or advanced projects discussed above. Franco-Nevada has not visited or audited its full list of exploration assets and has relied on operator reports, public disclosures to determine which properties are in good standing. It is possible some properties may have lapsed.
The following table is a list of exploration assets of Franco-Nevada as at March 22, 2017. Assets that have had their terms or leases expire and have been written off are not listed. Franco-Nevada has reclassified Agnew (Vivien Gold Mine) as a producing asset, Cariboo and Red Mountain as advanced assets and Admiral Hill and Glenburgh as exploration assets. In 2016, Franco-Nevada wrote off three mineral exploration royalty assets and removed them from its asset counts.