Leadership

David Cole brings over two decades of leadership experience as the long-time CEO and co-founder of EMX Royalty Corp. He has a proven track record in public markets, capital allocation, and the technical disciplines of exploration, mining, and royalty generation. Under his leadership, EMX grew from a single-asset explorer with a C$3.3 million market cap into a globally diversified royalty company holding more than 250 mineral assets, across six continents.

Mr. Cole co-founded Standard Uranium Corp. and served as a director of Energy Metals Corporation, which was later acquired for US$1.8 billion. He also chaired IG Copper, overseeing the sale of the Malmyzh copper-gold discovery for US$200 million, generating significant returns for EMX shareholders.

An economic geologist by training, Mr. Cole holds geology degrees from Fort Lewis College and Colorado State University. Before EMX, he spent 17 years with Newmont Mining in senior technical and management roles, contributing to major exploration successes worldwide.

Frederick is an international mining executive with 15 years of experience working with companies in the UK, Canada and Australia. He co-founded Elemental Royalties as a private company and has advanced it through Listing in 2020 and subsequent mergers with Altus Strategies PLC in 2022 and EMX Royalty Corp. in 2025. Prior to Elemental, he was Managing Director of a UK-listed gold exploration company, Goldcrest Resources PLC and General Manager of an ASX-listed uranium exploration company, Resource Star Ltd. Frederick received the ‘Young Rising Star’ Award at Mines & Money 2018, holds a Master of Arts in History from the University of Edinburgh and was on the founding committee of Young Mining Professionals in London.

Mr. Wenger is a senior executive with over 25 years of experience working in various leadership roles.  Mr. Wenger was Chief Financial Officer and Treasurer of Royal Gold, Inc. from July 2003 to June 2018. Royal Gold is a Denver-based publicly traded company engaged in the acquisition and management of precious metals streams and royalties. During his time at Royal Gold, Mr. Wenger lead the company in raising over $2 billion in the equity and debt capital markets, managed a $1 billion revolving credit facility and stewarded strategic relationships with a syndicate of global banks. Mr. Wenger was active in all financial aspects of corporate M&A, investor relations and corporate strategy, and was instrumental in developing a tax structure for Royal Gold that provided for significant growth internationally. Prior to joining Royal Gold, Mr. Wenger worked in public accounting from 1995 to 2003 as an auditor with PricewaterhouseCoopers LLP and Arthur Andersen LLP.

Mr. Wenger currently serves on the board of directors of Ridgeline Royalties Inc. Ridgeline was founded in 2020 to be the leading source of royalty and stream financing for miners that supply the clean energy marketplace.

Mr. Wenger’s other board experience includes service on the Board of Directors of the Nevada Mining Association and as a member of the Board of Trustees and Treasurer of the American Exploration and Mining Association. In addition, Mr. Wenger served as a director on the boards of several Royal Gold subsidiaries, including as Vice-Chairman of RGLD Gold AG, a Switzerland based subsidiary that made investments totaling more than $2 billion during Mr. Wenger’s tenure on the board. Mr. Wenger currently serves on the board of directors of the Columbine Country Club, and he previously served in the non-profit community as the Board Chairman of the Inner-City Health Center. The Inner-City Health Center is Denver’s premier provider of high-quality clinical health services for the uninsured and underserved.

Mr. Wenger holds a Bachelor of Science degree in Business Administration from Colorado State University, has completed the General Management Program at the Harvard Business School, and is a certified public accountant (inactive).

David has over 13 years experience in the mining and mine finance industries. He started his career in Equity Research at BMO Capital Markets before joining Kulczyk Investments, a Polish family investment company. Whilst at KI, David was part of the establishment of QKR Corporation, a private mining investment company, and was seconded to the business development team which acquired the Navachab gold mine from Anglogold Ashanti. Prior to joining Elemental, David was Vice President at Tamesis Partners LLP, specialising in corporate advisory and equity capital markets.

David has extensive experience in corporate finance, capital markets, M&A and financial restructurings. Prior to joining Elemental Altus, David was General Counsel for EMEA / APAC at PJT Partners, and senior counsel at Deutsche Bank. Prior to investment banking, David worked at White & Case and Dentons, advising primarily financial institutions and natural resource companies on securities law matters.

David has more than 20 years of industry experience. From 2011 through 2025 he served as EMX’s chief geologist and managed generative activities in the Americas. Prior to joining EMX, David was a co-founder of Bronco Creek Exploration, a private project generator and part time consultant with different mining companies. Current and previous responsibilities involve both commercial and technical roles, designing and managing generative activities, negotiating property agreements, and assisting in due diligence exercises for royalty acquisitions. Dr. Johnson graduated from The Colorado College in 1988 with a B.A. in geology, and later earned his Ph.D. from the University of Arizona in 2000.

Sarah Ford is a finance executive with more than a decade of experience in corporate finance, mergers and acquisitions, and strategic growth within the mining and natural resources sector. During her ten-year tenure at Sandstorm Gold, she led the financial and strategic execution of over $1 billion in acquisition activity, oversaw a $350M revolving credit facility, and contributed to the company's corporate governance, financing and capital allocation strategies. Before joining Sandstorm, Sarah worked with Deloitte LLP in Canada and internationally, advising organizations on transactions, growth initiatives and business strategy. Sarah is a Chartered Professional Accountant (CPA, CA) with honour roll standing on the Uniform Final Evaluation, a Chartered Financial Analyst charterholder, and a graduate of the University of Alberta with a Bachelor of Commerce (with Distinction).

Prior to joining Elemental in 2020, Meghan worked as an investment banker with RBC Capital Markets’ Metals & Mining and Energy teams in London, where she was involved in a variety of transactions across commodity types and regions. Meghan has been involved in several large royalty and streaming transactions since joining the Business Development team, and helped oversee the Elemental-Altus merger in 2022. Meghan holds a MSc in Metals and Energy Finance, jointly awarded by Imperial College Business School and the Department of Earth Science and Engineering. She also holds a BSc in Geological Sciences from the University of Leeds.

Dr. Huff has over a decade of experience in the mineral exploration industry, including roles in greenfields exploration, data management, and business development. She has worked as an exploration geologist in VMS, orogenic, and Carlin-type systems, primarily in northern Canada and the western United States. She graduated from McGill University in Montreal, Canada in 2011 with a B.Sc. in Earth and Planetary Sciences. In 2021, Dr. Huff received her Ph.D. in Geology from the Colorado School of Mines where she studied the temporal relationship between magmatism and sedimentary rock-hosted gold mineralization in northern Nevada. For any questions regarding exploration projects available for partnership within the Elemental Royalty Corp. generative portfolio, please contact Dr. Huff directly.

Tara Vivian-Neal specialises in communications and investor relations for the natural resources and mining sectors. Before joining Elemental, she worked at Tavistock Communications, where she supported strategic and financial communications for both private and publicly listed companies, operating across a broad range of commodities and jurisdictions. Collaborating closely with senior leadership, Tara has helped to deliver effective messaging and strategy targeting key stakeholders and media. Tara holds an Honours degree in English Literature and History from the University of Cape Town.

Ms. Echegaray has over 20 years’ experience working with various private and public-listed companies in the corporate governance and securities regulatory compliance areas. Previous to joining the Company, Ms. Echegaray served as Corporate Secretary of Prophecy Development Corp. and has provided securities and secretarial services to Goldcorp Inc. Throughout her extensive experience, Ms. Echegaray has also been responsible for all aspects of regulatory and corporate secretarial matters, with mining companies in South America, North America and Asia. Ms. Echegaray holds a law degree from the University Federico Villarreal in Lima, Peru.