Elemental Altus Royalties Corp V.ELE

Elemental Royalties Announces Gold Stream Acquisition

[Betteryear2]

Recommendation to REJECT the Hostile Bid is Further Reinforced

HIGHLIGHTS

• Gold stream acquisition delivers immediate cash flow and uncapped long-term revenue potential from a Canadian mine with a long operating history and a track record of exploration success
• Minimum gold deliveries to Elemental set at 1,200 ounces per year for the first three years
• Financing, mostly with La Mancha, a new strategic investor, is at a 14% premium to the Hostile Bid1
• 2022 guidance is an increase of between 54% and 81% in gold equivalent ounces compared with 2021 preliminary sales. The preliminary outlook is for further material growth in 2023
• Seventh producing asset for Elemental, uniquely diversified cash flow amongst royalty peers

Vancouver, British Columbia--(Newsfile Corp. - March 17, 2022) - Elemental Royalties Corp. (TSXV: ELE) (OTCQX: ELEMF) ("Elemental" or "the Company") today announced that it has entered into a gold purchase and sale agreement (the "Ming Gold Stream") with Rambler Metals and Mining Canada Limited, a wholly owned subsidiary of Rambler Metals and Mining PLC (AIM: RMM) ("Rambler"), the owner of the Ming Copper-Gold Mine (the "Ming Mine") in Newfoundland and Labrador in Canada. Elemental also announced a concurrent equity financing (the "Financing") and 2022 guidance of 5,700 to 6,700 attributable gold equivalent ounces2 ("GEOs") at a 96% gross cash margin.

"The Ming Gold Stream, our first transaction with a Canadian mine, further increases the percentage and distribution of our exposure to Tier 1 mining jurisdictions while providing a uniquely diversified cash flow compared with peer royalty companies," said Frederick Bell, Elemental's Chief Executive Officer.

Elemental Royalties Announces Gold Stream Acquisition, Concurrent Equity Financing and 2022 Guidance