Participated · Equity · Dec 2020

Elim Mining Incorporated is a private copper exploration and development company building a scalable, multi‑phase porphyry copper project on private land in Arizona. The company is initially focused on resource development of the Cactus Mine (a re‑start of the former Sacaton mine) and exploration of the Parks/Salyer property, with work feeding into a Preliminary Economic Assessment on Cactus West and Cactus East expected in Q2 2021. Management is led by mining executives with an aggregate of over 210 years of experience. Elim recently closed the first tranche of a non‑brokered private placement to raise $3,811,620.60 by issuing 12,705,402 common shares at $0.30 per share to fund drilling, technical studies, land acquisitions and working capital. A technical consortium of Samuel Engineering and Q&D is expected to close a second tranche in January 2021, and $1,900,000 of fees for the Stockpile Project will be satisfied by issuing 6,333,333 common shares. The company intends to optimize potential mining, processing and personnel synergies between the Stockpile Project and the Cactus Mine as it advances development.