Elemental Altus Royalties Corp V.ELE

Elemental Altus to Sell Diba Gold Project

[Betteryear2]

Vancouver, British Columbia--(Newsfile Corp. - July 20, 2023) - Elemental Altus Royalties Corp. (TSXV: ELE) (OTCQX: ELEMF) ("Elemental Altus" or "the Company") announces that it has executed a Sale & Purchase Agreement ("SPA") with Allied Gold Corporation ("Allied") for the sale of the Company's 100% owned subsidiary Legend Mali (BVI) III Inc. which indirectly owns 100% of the Korali-Sud Small Scale Mining Licence ("Korali Sud") & Lakanfla Exploration Licence ("Lakanfla") (combined "Diba" or "the Project") in western Mali. As consideration, Allied will pay up to US$6 million in cash and grant a Net Smelter Return ("NSR") royalty of up to 3% on gold produced from the Project.

Elemental Altus to Sell Diba Gold Project in Mali to Allied Gold, Operator of the Adjacent Flagship Sadiola Gold Mine for Cash & NSR Royalty (newsfilecorp.com)