Vancouver, British Columbia--(Newsfile Corp. - February 3, 2020) - Ely Gold Royalties Inc. (TSXV: ELY) (OTCQB: ELYGF) ("Ely Gold")or the("Company") and its wholly owned subsidiary, Nevada Select Royalty, Inc ("Nevada Select") are pleased to announce that they have signed a binding term sheet (the "Agreement") for the purchase of seventy-five (75) patented mining claims from Cliff ZZ LLC, a Nevada limited liability company. ("Cliff ZZ"). The patented claims are located in Esmeralda and Nye Counties, Nevada and are known as the Tonopah Extension Claims ("Tonopah Extension"). Nevada Select currently holds 23 patented mining claims and 17 unpatented mining claims contiguous to the Tonopah Extension. Closing of the transaction is subject to TSXV approval and final due diligence by Ely Gold. Closing is expected on or about May 2, 2020