Franco-Nevada holds a 1-2% NSR royalty on approximately 20 sections and a smaller royalty on another half section of checkerboard land in the area covering portions of the Pinson and Getchell properties in Nevada. The Pinson project is located near the intersection of the Getchell Gold Belt and the Battle Mountain-Eureka Trend in the heart of the Nevada Gold Province. Pinson is south of Barrick and Newmont’s Getchell/Turquoise Ridge Mine and 8 miles from Newmont’s Twin Creeks Mine complex.

The Pinson project’s most recent resource statement was announced in July 2007 by Atna Resources Ltd., and reported Measured and Indicated Resources of 1.063 million ounces and Inferred Resources of a further 1.146 million ounces. It is unclear as to which, if any, portion of these resources will be ultimately mineable and also subject to Franco-Nevada’s royalties. Franco-Nevada is receiving AMR payments on the property, which will be credited against any future production royalty payments if and when they occur.