Scout has initiated Phase I drilling at the Lehman Butte epithermal Au–Ag project, a project generated and now operated by Scout under its Earn-In agreement with Centerra Gold.
The Phase I program consists of an initial ~2,500-meter, multi-hole core drilling campaign, with the potential for expansion based on results and subject to Centerra’s approval.
Scout has mobilized two in-house drill rigs and is executing the program as operator at cost plus 20%, reflecting its discovery-to-partnership, vertically integrated model.
Coeur d’Alene, Idaho – April 7, 2026 – Scout Discoveries Corp. (“Scout” or the “Company”) is pleased to announce the initiation of the Phase I core drilling program at its 100%-owned Lehman Butte epithermal gold–silver project in Custer County, Idaho (the “Project”). This program marks the first drilling under Scout’s agreement with Centerra Gold Inc. (“Centerra”). Under the agreement, Centerra may earn up to 70% of the project in two stages by sole-funding US $30 million in exploration costs, previously announced on August 27, 2025. The commencement of drilling at Lehman Butte marks a significant milestone for Scout, as this is another project the team has successfully generated, advanced through systematic targeting and permitting, and is now efficiently drilling as the project operator.The Phase I program is designed as an initial ~2,500-meter, multi‑hole core drilling campaign focused on testing high‑priority targets defined through Scout’s systematic surface exploration, geologic mapping, geochemistry, and geophysics. The program may be expanded based on results, subject to approval from Centerra in accordance with the earn‑in agreement.
Phase I Drill TargetsThe Phase I drill program is designed to test the Lehman Butte epithermal Au-Ag system within a multi-kilometer target area identified by Scout’s earlier targeting work (Figure 1). Previous geologic mapping, rock and soil sampling, and geophysical surveys (IP and Magnetics) have outlined a major three by one-kilometer-wide swarm of banded quartz adularia epithermal veins surrounded by disseminated gold-silver mineralization in permeable volcaniclastic units. Surface samples exhibit gold grades reaching up to 3.1 g/t Au (n=214, average 0.145 g/t Au), with soil sampling delineating a significant gold-in-soil anomaly that underscores the potential for bulk tonnage. Concurrent magnetic low, IP chargeability, and resistivity anomalies corroborate these targets outlined by surface sampling and mapping and form the primary targets to be tested in this phase I drill program.Scout will drill the subvertical vein swarm from the eastern flank with -50-degree holes to test both the bulk tonnage and higher-grade potential within the inferred palaeo-boiling horizon. Representative cross sections through the target area outline targets to be tested in Figures 2 and 3. Further information on the project can be found on Scout’s website: Lehman Butte Project Details.
Scout-Led OperationsConsistent with the terms of the Earn‑In agreement, Scout is serving as project operator and is executing the drill program using its in‑house drilling and geologic teams. Scout has mobilized two surface core drills to site, enabling parallel drilling on multiple pads and providing flexibility to adapt the program as results are received. Initial program activities in Q1 2026 focused on winter mobilization, pad construction, equipment staging, water management infrastructure anticipating limited water return, and close coordination with the U.S. Bureau of Land Management. All proposed activities to date, including pad construction, snow plowing, and equipment mobilization, have been approved, and drilling has commenced following completion of these preparatory works.Geologic logging and core handling are being carried out by Scout’s technical team as drilling progresses, providing real‑time feedback to guide ongoing targeting and potential program adjustments. The Company anticipates that results from this Phase I program will inform subsequent drill planning and the potential expansion of drilling under the Earn‑In structure.
Earn-In Agreement with Centerra GoldAs previously announced, Centerra has the right to earn up to a 70% interest in the Lehman Butte project by investing up to US$30.0 million over two stages, with Scout remaining the initial project planner and operator. This Phase I program represents the first substantive drilling campaign under the earn-in structure and reflects the parties’ aligned objective of efficiently advancing the project toward discovery and potentially advanced stage exploration.Scout’s role as operator allows for continuity of technical vision from initial surface work beginning in 2018, permitting, and execution, while leveraging Centerra’s capacity to scale with exploration success. The collaboration is a direct expression of Scout’s discovery‑to‑partnership business model, whereby projects are internally generated, advanced through drilling with in‑house capabilities, and partnered to pursue discovery at scale (Figure 4).
Looking AheadWith drilling now underway, Scout will continue to work closely with Centerra through the technical committee to review results, refine targets, and evaluate opportunities to expand the Phase I program. The Company believes Lehman Butte represents a compelling example of Scout’s ability to generate high‑quality projects, advance them efficiently with internal capabilities, and work with a quality partner to pursue discovery at scale. Assays will be released when the target is sufficiently tested and results support a decision to continue moving the project ahead, or not – consistent with Scout’s philosophy of systematically moving projects through its pipeline.
About Centerra Gold Inc.Centerra Gold Inc. is a Canadian-based gold mining company focused on operating, developing, exploring and acquiring gold and copper properties in North America, Türkiye, and other markets worldwide. Centerra operates two mines: the Mount Milligan Mine in British Columbia, Canada, and the Öksüt Mine in Türkiye. The Company also owns the Kemess Project in British Columbia, Canada, the Goldfield Project in Nevada, United States, and owns and operates the Molybdenum Business Unit in the United States and Canada. Centerra’s shares trade on the Toronto Stock Exchange under the symbol CG and on the New York Stock Exchange under the symbol CGAU. The Company is based in Toronto, Ontario, Canada.
About Scout Discoveries Corp.Scout Discoveries Corp., headquartered in Coeur d’Alene, Idaho, is a private U.S. mineral exploration company with rights to twelve separate precious and base metal projects in the western U.S.A., comprising one of the largest unpatented claim holdings in the region, totaling over 50,000 acres. Scout’s vision is to bring the full discovery process in-house from idea generation through resource drilling, lowering costs and increasing efficiency. With this model, the Company can rapidly advance its project portfolio through discovery by leveraging its five internal core drill rigs and experienced technical teams.For further information, visit: https://www.scoutdiscoveries.com/
Denver, Colorado–(Newsfile Corp. – April 2, 2026) – Elemental Royalty Corporation (TSXV: ELE) (NASDAQ: ELE) (“Elemental” or “the Company“) is pleased to announce that its common shares will commence trading on the Toronto Stock Exchange (“TSX“) at market open on Tuesday, April 7, 2026, under the trading symbol “ELE“. The Company’s shares will be voluntarily delisted from the TSX Venture Exchange concurrently with the TSX listing.
David M. Cole, Chief Executive Officer of Elemental Royalty, commented: “Elemental’s graduation to the Main List of the Toronto Stock Exchange is the natural next step in our trajectory and evidences the progress we have made in building a disciplined, growth-oriented public company. We believe our TSX listing will further enhance our visibility across the investment community, broaden our shareholder base, and better position us to create long-term value for our shareholders.”
The listing does not involve any concurrent financing, and no new shares were issued.
TSXV: ELE | NASDAQ: ELE | ISIN: CA28620K1066 | CUSIP: 28620K106
About Elemental Royalty Corporation. Elemental is a new mid-tier, gold-focused streaming and royalty company with a globally diversified portfolio of 18 producing assets and more than 200 royalties, anchored by cornerstone assets and operated by world-class mining partners. Formed through the merger of Elemental Altus and EMX, the Company combines Elemental Altus’s track record of accretive royalty acquisitions with EMX’s strengths in royalty generation and disciplined growth. This complementary strategy delivers both immediate cash flow and long-term value creation, supported by a best-in-class asset base, diversified production, and sector-leading management expertise.
Forward-looking statements This news release contains certain “forward looking statements” and certain “forward-looking information” as defined under applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “should”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology (including negative and grammatical variations thereof). Forward-looking statements and information include, but are not limited to, the timing and implementation of the listing on the TSX and the delisting from the TSX Venture Exchange. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies.
Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Elemental to control or predict, that may cause Elemental actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the impact of general business and economic conditions; the absence of control over the mining operations from which Elemental will receive royalties; risks related to international operations, government relations and environmental regulation; the inherent risks involved in the exploration and development of mineral properties; the uncertainties involved in interpreting exploration data; the potential for delays in exploration or development activities; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with Elemental’s expectations; the impact of any pandemic or epidemic; economic uncertainties created by the war in Ukraine and hostilities in the middle-east including the military conflict in Iran; accidents, equipment breakdowns, title matters, labour disputes or other unanticipated difficulties or interruptions in operations; fluctuating metal prices; unanticipated costs and expenses; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; commodity price fluctuations; currency fluctuations; regulatory restrictions, including environmental regulatory restrictions; cybersecurity threats, security breaches and hacks; liability, competition, loss of key employees and other related risks and uncertainties. For a discussion of important factors which could cause actual results to differ from forward-looking statements, refer to the annual information form of Elemental for the year ended December 31, 2025. Elemental undertakes no obligation to update forward-looking statements and information except as required by applicable law. Such forward-looking statements and information represent management’s best judgment based on information currently available. No forward-looking statement or information can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
Neither the TSX-V, its Regulation Service Provider (as that term is defined in the policies of the TSX-V), or the Nasdaq Stock Market LLC accepts responsibility for the adequacy or accuracy of this press release.
Vancouver, British Columbia–(Newsfile Corp. – April 1, 2026) – Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY0) (“Riverside” or the “Company“), is pleased to announce the commencement of the Phase 2 exploration program at La Union Project in Sonora, Mexico. The program builds on the success of the 12-hole Phase 1 drill program announced January 22, 2026, which delivered a new sediment-hosted gold discovery at Luis Hill returning 42m grading 0.3 g/t gold. Funded by Questcorp, Phase 2 has mobilized teams to the field across four main target areas, where work will include geological mapping, geochemistry, geophysics, and a property-wide structural analysis.
“We are pleased to have a fully funded exploration program and have immediately activated our team in the field,” said John-Mark Staude, President and CEO, Riverside Resources Inc. “I have just returned from Sonora, where the Phase 2 program is progressing well, with the Riverside team conducting safe, high-quality work encompassing sampling, mapping, geological targeting, and geochemistry with the aeromagnetic geophysics expansion launching shortly. Building directly on our Phase 1 results, including the high-grade channel sampling at Union Mine and the new sediment-hosted gold discovery at Luis Hill, we have multiple well-defined targets to advance. Riverside is pleased to continue working with partner Questcorp, and as a shareholder in Questcorp, our interests in the success of the Union Project are well aligned.”
Planned exploration for this program includes:
Follow-up work on sediment-hosted gold (“SHGD”) targets identified during Phase 1 drilling, where gold was intersected in sedimentary rocks below the primary Carbonate Replacement Deposit (“CRD”) host units, consistent with districts known to host both CRD and SHGD deposit styles.
Underground follow-up sampling at the Union Mine, where the previously announced chip-channel interval on January 22, 2026, remains open on both ends and warrants further investigation.
CRD targeting at the Famosa North area, where lead and zinc anomalies have never been drill-tested; field studies in this area will support upcoming drill targeting. The Famosa mineral concessions were recently consolidated into Riverside’s land package, as announced on March 18, 2026.
Structural geology work in the northern portion of the property, where consulting structural experts are working alongside Riverside’s local field staff to refine drill targeting.
Follow up on sediment-hosted gold targets in the eastern portion of the Union Project district.
Follow-up exploration at Luis Hill, where Phase 1 drill hole UND25-9 returned 42m grading 0.3 g/t gold in sediment-hosted rocks representing a new style of Carlin-like gold mineralization for this part of Sonora. Phase 2 field work will expand upon this discovery to define additional drill targets.
Running concurrently with the field work described above is an expanded aeromagnetic drone survey that builds upon the Phase 1 geophysical dataset. The expanded survey will extend coverage in all directions of the mineral property, generating data that will support Phase 2 drill targeting in advance of a drilling program planned for early summer 2026.
Figure 1: Location of some of the targets at the Union project to be evaluated during the Phase 2 exploration program and locations of the initial Phase 1 drill holes which now can be further expanded during the Phase 2 program as well.
As announced on March 18, 2026, the Famosa area mineral concessions have been formally transferred and consolidated into Riverside’s land package. This strengthens the foundation for the Phase 2 work program, as the geology and mineralization trends within the Famosa area extend northward and eastward into the primary Phase 2 exploration focus zones.
The Union Project hosts multiple district-scale target areas, and the Phase 2 program is designed to systematically advance the most promising of these toward drill testing. The program will evaluate three distinct styles of mineralization identified during Phase 1: carbonate replacement deposit (CRD) mineralization, sediment-hosted gold in calcareous siltstones and carbonaceous sediments comparable to Nevada’s Carlin-style deposits, and structurally controlled gold mineralization within quartzite units. With permits in hand, site access secured, and both a drill contractor and geophysical service provider selected, all logistics are advancing toward a summer 2026 drilling program.
About the Union Project
The Union Project is a district-scale carbonate replacement deposit (CRD) exploration project located in Sonora, Mexico. The project hosts historical mining areas and multiple exploration targets associated with gold, silver, zinc, and lead mineralization within carbonate and structurally controlled settings. Riverside operates the project through its Mexican subsidiary while advancing exploration in partnership with Questcorp.
Qualified Person
The technical content of the news release has been reviewed and approved by Freeman Smith, P.Geo. (British Columbia), a qualified person under National Instrument 43-101 who is non-independent and the Vice President Exploration for the Company.
About Riverside Resources Inc.:
Riverside is a well-funded exploration company driven by value generation and discovery. The Company has a strong balance sheet with over C$5,000,000 cash, no debt and tight share structure with a strong portfolio of gold-silver, copper, and REE assets and royalties in North America. Further information about Riverside is available on the Company’s website at www.rivres.com.
ON BEHALF OF RIVERSIDE RESOURCES INC.
“John-Mark Staude”
Dr. John-Mark Staude, President & CEO
For additional information contact:
John-Mark Staude President, CEO Riverside Resources Inc. info@rivres.com Phone: (778) 327-6671 Fax: (778) 327-6675 Web: www.rivres.com
Eric Negraeff Investor Relations Riverside Resources Inc. Phone: (778) 327-6671 TF: (877) RIV-RES1 Web: www.rivres.com
Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward-looking terminology (e.g., “expect”,” estimates”, “intends”, “anticipates”, “believes”, “plans”). Such information involves known and unknown risks — including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Denver, Colorado–(Newsfile Corp. – March 24, 2026) – Elemental Royalty Corporation (TSXV: ELE) (NASDAQ: ELE) (“Elemental” or the “Company“) is pleased to report results for the year ended December 31, 2025. For the year, Elemental delivered revenue of US$43.6 million, revenue plus attributable share of Caserones1 of US$49.2 million, and adjusted EBITDA1 of US$34.9 million.
2025 Financial Highlights
Record full year revenue plus attributable share of Caserones1 of US$49.2 million, up 128% over prior year, exceeding 2025 updated guidance of US$42 million;
Gold Equivalent Ounces (“GEOs”) of 14,285 for 2025 (8,987 in 2024), driven by contributions from Karlawinda, Bonikro, Korali Sud, and Caserones, and the completion of the merger with EMX Royalty Corporation;
Adjusted EBITDA1 of US$34.9 million, up 131% over prior year, demonstrating strong cash flow conversion;
Adjusted operating cash flow1 of US$33.9 million, up 288% over prior year; and
Cash and cash equivalents as of December 31, 2025 of US$53.1 million and a working capital1 of US$80.1 million, demonstrating financial flexibility for growth.
Q4 2025 Financial Highlights
Record Q4 revenue of US$16.0 million and record revenue plus attributable share of Caserones1 of US$17.2 million, up 153% on Q4 2024
Q4 attributable GEOs1 of 4,133 ounces (2,551 GEOs in Q4 2024)
US$52 million acquisition of uncapped 2% GRR on the Laverton Gold Project and an uncapped 2% GRR on Jasper Hills in Western Australia
Completion of merger with EMX Royalty Corporation
2026 Outlook and Guidance
Revenue guidance for 2026 US$76.5 to US$94.5 million based on a gold price of US$4,500/oz and a copper price of US$5.50/lb
GEO guidance for 2026 of 17,000 to 21,000 GEOs
David M. Cole, Elemental Chief Executive Officer, commented: “2025 was a landmark year for Elemental, underscored by our merger with EMX Royalty Corporation, which significantly expanded our revenue base and strengthened our platform for long-term growth. The combination creates a more broadly diversified royalty portfolio across commodities, jurisdictions, and development stages, enhancing resilience and scale, with key cash-flowing assets such as Caserones, Timok, Karlawinda, and Leeville. This broader portfolio provides greater optionality through exposure to an expanded pipeline of organic growth opportunities and future project advancements, including the Laverton Gold Project, which we expect to become a cornerstone asset. As we enter 2026, we are well positioned to benefit from the merger’s synergies and deliver continued value creation for shareholders.”
Investor Webinar
An investor webinar will be held on Wednesday March 25, 2026, starting at 11am Eastern Time, to discuss these results, followed by a question-and-answer session.
To register for the investor webcast, please click the link below:
https://app.webinar.net/XxJnNlbkAGY
A replay of the event will be available on the Elemental website following the presentation.
Financial Summary for the Three Months and Year Ended December 31, 2025:
For the three months ended December 31,
For the year ended December 31,
(In thousands of US dollars)
2025
2024
2025
2024
Statement of Income
Revenue
$
16,047
$
5,519
$
43,643
$
16,323
General and administrative expense
$
9,842
$
2,149
$
16,467
$
7,396
Royalty generation expense, net
$
1,058
$
–
$
1,058
$
–
Net income (loss) from continuing operations
$
(3,209
)
$
132
$
1,772
$
(312
)
Statement of Cash Flows
Cash flows from operating activities
$
11,203
$
2,555
$
30,811
$
4,816
Non-IFRS Financial Measures1
Revenue plus attributable share of Caserones
$
17,226
$
6,827
$
49,200
$
21,600
Adjusted cash flows from operating activities
$
11,203
$
3,315
$
33,937
$
8,738
Adjusted EBITDA
$
8,456
$
4,769
$
34,901
$
15,111
GEOs sold
4,133
2,551
14,285
8,987
Key Strategic Developments
2025 was a transformative year for Elemental, defined by strategic initiatives that strengthened the Company’s scale, diversification, and long-term growth profile. Key developments during the year included:
Completion of the merger with EMX, creating a larger, combined royalty company with a materially expanded revenue base and enhanced capital markets presence.
Secured a strategic investment from Tether Investments S.A. de C.V (“Tether”), strengthening the share register, enhancing financial flexibility, and supporting the Company’s growth initiatives.
Acquired the uncapped 2% GRR royalty over the Laverton Gold Project in Western Australia for US$52 million, which is expected to become a cornerstone asset within the portfolio given its scale, development trajectory, and long-term upside.
Benefited from continued advancement and optimization across producing assets within the portfolio, supporting stable cash flow generation and near-term growth visibility.
Announced after year end, the Company advanced its capital allocation framework and financial capacity through the introduction of an inaugural annual dividend of US$0.12 per share (paid quarterly) and the establishment of a US$150 million revolving credit facility and US$50 million accordion feature, enhancing balance sheet flexibility to support future growth initiatives while delivering sustainable returns to shareholders.
2025 Performance to Guidance:
Please see our MD&A for the year ended December 31, 2025 for more details on our guidance and see “Forward-Looking Statements” and “Future-Oriented Financial Information” below.
The following is an evaluation of the Company’s performance compared to our 2025 Guidance:
2025 GuidanceA
2025 Updated GuidanceB
2025 Results
GEO Sales
11,600 to 13,200
11,600 to 13,200
14,285
Revenue plus attributable share of Caserones1
US$31.1 to US$34.3 million
US$42.0 million
US$49.2 million
A Assumed commodity prices of US$2,600/oz gold and US$4.00/lb copper.
B Assumed commodity price of US$4,000/oz gold and US$4.00/lb copper.
Excluding revenue attributable to assets acquired through the merger with EMX, Elemental’s assets recognized 12,459 GEO Sales1, placing results in the top half of the updated guidance range. Assets acquired through the EMX merger contributed an additional 1,826 GEOs following the date of the closing of the transaction, November 13, 2025. Had the merger taken place on January 1, 2025, the Company would have generated US$72.2 million in revenue and US$87.5 million in revenue plus attributable share of Caserones1, aligning with consensus combined revenue guidance of US$85 million.
2026 Guidance
In 2026, we expect royalty revenue of 17,000 to 21,000 GEOs. 2026 guidance is based on public forecasts and disclosures by the owners and operators of our assets, historical performance, and management’s understanding of the underlying producing assets.
2026 GuidanceA
GEO Sales1
17,000 to 21,000
Revenue
US$76.5 to US$94.5 million
A Assumed commodity price of US$4,500/oz gold and US$5.50/lb copper.
The noted increase in expected GEOs compared to 2025 is mainly due to the contribution of assets acquired through the merger with EMX in Q4 2025, offset by a decrease in production at Korali Sud.
The Company has assumed a commodity price of US$4,500/oz gold and US$5.50/lb copper. The increase in gold prices has outpaced the rise in copper prices, resulting in a negative impact on GEOs due to Elemental’s exposure to copper-linked assets, specifically Caserones and Timok.
Following an amendment to the SLM California shareholder agreement effective November 13, 2025, the Company reassessed its interest in SLM California, which holds the Caserones royalty. The revised arrangement was determined to constitute a joint operation under IFRS 11, resulting in the discontinuation of equity accounting under IAS 28 and the recognition of the Company’s proportionate share of assets, liabilities, revenues, and expenses. As a result, the contribution from Caserones in 2026 will be fully categorized as revenue and will no longer require an adjustment to revenue in future periods.
Portfolio Growth
Elemental continues to advance a disciplined growth strategy focused on building a globally diversified portfolio of high-quality royalty and streaming interests, with a core emphasis on gold and precious metals. The Company’s portfolio provides exposure to a range of assets throughout the development and production pipeline, including cornerstone interests such as Karlawinda, Laverton, and Leeville. This gold-focussed approach is complemented with selective exposure to large-scale base metals assets such as Caserones and Timok, with diversification across commodities, jurisdictions, and operators supporting stable cash flow generation, while preserving meaningful upside to exploration success and mine life extensions.
Near to medium-term portfolio growth is expected to be supported by continued development, optimization, and exploration activities at several key assets. At Timok, ongoing advancement of both the Upper and Lower Zone projects provides exposure to a world-class copper-gold system with significant scale potential. In addition, recent exploration success in the broader Timok district, including the Malka Golaja discovery, highlights the prospectivity of the regional land package and reinforces the long-term optionality of Elemental’s royalty interest. While the ultimate impact of such discoveries remains subject to further delineation and development by the operator, management views these results as encouraging indicators of the district’s geological potential.
Elemental’s exposure to precious metals growth is anchored by assets such as Karlawinda, a long-life gold operation in Western Australia. Ongoing mining activities and regional exploration at Karlawinda offer the potential to support stable production and incremental upside over time. The recently acquired Laverton royalty further enhances the Company’s exposure to a highly prospective gold district in Western Australia, in addition to the acquisition of the Dugbe royalty in Liberia, both of which support the near to medium-term pipeline of exploration-driven optionality and reinforce Elemental’s strategy of acquiring royalties over large land packages in established mining camps with Tier-one operators.
In addition to its core precious metals weighting, Elemental benefits from exposure to established and operating base metal assets such as Caserones, a large-scale copper mine where continued operational optimization and exploration efforts may contribute to sustained production and potential mine life extension. These base metal assets complement the gold-focussed portfolio, providing diversification and leverage to copper demand, which is increasingly supported by structural trends related to electrification, infrastructure investment, and the global energy transition.
Elemental remains well positioned to pursue additional accretive royalty and streaming opportunities across its targeted commodities. Management continues to evaluate a robust pipeline of potential transactions, reflecting sustained interest from mining companies seeking non-dilutive sources of capital. The Company’s strong balance sheet, recently amended US$150 million revolving credit facility, with a US$50 million accordion, and scalable business model provide enhanced financial flexibility to support disciplined capital deployment. The Company also benefits from supportive long-term shareholders, including Tether, whose investment reflects confidence in Elemental’s strategy and growth outlook.
Management believes Elemental’s gold-focussed, diversified asset base, strengthened liquidity position, and aligned shareholder support provide a solid foundation for long-term value creation.
Fourth Quarter and Full Year 2025 Performance by Asset
The following table is a summary of GEOs1 sold and revenue plus attributable share of Caserones1 for the fourth quarter of 2025 and 2024:
GEOs Sold
Revenue (in thousands of US dollars)
2025
2024
2025
2024
Ballarat
179
151
$
745
$
403
Bonikro
692
900
2,886
2,407
Caserones2
879
–
3,665
–
Gediktepe
387
–
1,613
–
Karlawinda
648
556
2,699
1,490
Korali-Sud
74
–
307
–
Leeville
286
–
1,192
–
Timok
261
–
1,086
–
Wahgnion
–
284
–
764
Other producing royalties
337
172
1,403
455
Advanced royalty payments
40
–
167
–
Total royalty revenue
3,782
2,063
$
15,763
$
5,519
Option, property and other revenue
68
–
284
–
Caserones (before reclassification)2
283
488
1,179
1,308
Revenue plus attributable share of Caserones1
4,133
2,551
$
17,226
$
6,827
The following table is a summary of GEOs1 sold and revenue plus attributable share of Caserones1 for the year ended December 31, 2025 and 2024:
GEOs Sold
Revenue (in thousands of US dollars)
2025
2024
2025
2024
Ballarat
709
323
$
2,454
$
807
Bonikro
3,174
2,208
10,886
5,430
Caserones2
387
–
3,665
–
Gediktepe
387
–
1,613
–
Karlawinda
2,563
2,171
8,857
5,199
Korali-Sud
3,446
–
10,515
–
Leeville
286
–
1,192
–
Timok
261
–
1,086
–
Wahgnion
–
1,126
–
2,692
Other producing royalties
812
789
2,924
1,865
Advanced royalty payments
40
–
167
–
Total royalty revenue
12,556
6,617
$
43,359
$
15,993
Option, property and other income
68
140
284
330
Caserones (before reclassification)2
1,661
2,230
5,557
5,277
Revenue plus attributable share of Caserones
14,285
8,987
$
49,200
$
21,600
Qualified Person
Michael P. Sheehan, CPG, a Qualified Person as defined by NI 43-101 and employee of the Company, has reviewed, verified, and approved the above technical disclosure.
About Elemental Royalty Corporation.
Elemental is a new mid-tier, gold-focused streaming and royalty company with a globally diversified portfolio of 16 producing assets and more than 200 royalties, anchored by cornerstone assets and operated by world-class mining partners. Formed through the merger of Elemental Altus and EMX, the Company combines Elemental Altus’s track record of accretive royalty acquisitions with EMX’s strengths in royalty generation and disciplined growth. This complementary strategy delivers both immediate cash flow and long-term value creation, supported by a best-in-class asset base, diversified production, and sector-leading management expertise.
Elemental trades on the Nasdaq and the TSX Venture Exchange under the ticker “ELE”.
This news release contains certain “forward looking statements” and certain “forward-looking information” as defined under applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “should”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology.
Forward-looking statements and information include, but are not limited to, statements with respect to the Company’s annual revenue and GEO guidance for 2026, future development and upside of the Laverton royalty, and the Company’s ability to support the future growth, and provide stable and sustainable returns. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies.
Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Elemental to control or predict, that may cause Elemental’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the impact of general business and economic conditions, the absence of control over the mining operations from which Elemental will receive royalties, risks related to international operations, government relations and environmental regulation, the inherent risks involved in the exploration and development of mineral properties; the uncertainties involved in interpreting exploration data; the potential for delays in exploration or development activities; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with Elemental’s expectations; accidents, equipment breakdowns, title matters, labour disputes or other unanticipated difficulties or interruptions in operations; fluctuating metal prices; unanticipated costs and expenses; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations; currency fluctuations; regulatory restrictions, including environmental regulatory restrictions; liability, competition, loss of key employees and other related risks and uncertainties. For a discussion of important factors which could cause actual results to differ from forward-looking statements, refer to the annual information form of Elemental for the year ended December 31, 2025. Elemental undertakes no obligation to update forward-looking statements and information except as required by applicable law. Such forward-looking statements and information represents management’s best judgment based on information currently available. No forward-looking statement or information can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
Neither the TSX-V, its Regulation Service Provider (as that term is defined in the policies of the TSX-V), or the Nasdaq Stock Market LLC accepts responsibility for the adequacy or accuracy of this press release.
Notes
Royalty revenue received carries no direct cash cost of sales: distributions from associates related to Elemental’s effective royalty on Caserones were received net of Chilean taxes and have no other costs.
Refer to the “Non-IFRS financial measures” section below or on page 29 of the Q4 2025 MD&A for more information on each non-IFRS financial measure. These non-IFRS measures are not standardized financial measures under the financial reporting framework used to prepare the financial statements to which the measures relates and might not be comparable to similar financial measures disclosed by other issuers.
Effective November 13, 2025, the Company discontinued accounting for SLM California as an investment in associate and began recognizing its share of revenue from the Caserones royalty directly, rather than as a share of profit from associate.
Non-IFRS Financial Measures
The Company has included performance measures which are non-IFRS and are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS Accounting Standards. The non-IFRS measures do not have any standard meaning under IFRS Accounting Standards and other companies may calculate measures differently.
Caserones Reclassification
Effective November 13, 2025, the shareholders of SLM California executed an amendment to the entity’s shareholder agreement, resulting in the Company reassessing the classification of its interest in SLM California, which holds the Company’s Caserones royalty. As a result of the amendment to the shareholder agreement, the Company determined that the revised arrangement constituted a joint operation in accordance with IFRS 11 Joint Arrangements. Consequently, on November 13, 2025, the Company discontinued equity accounting under IAS 28 Investments in Associates and Joint Ventures and began recognizing its proportionate share of the assets, liabilities, revenues, and expenses of SLM California as a joint operation.
Reconciliation of Adjusted EBITDA:
The following is the reconciliation of adjusted EBITDA:
For the three months ended December 31,
For the year ended December 31,
(In thousands of US dollars)
2025
2024
2025
2024
Net income (loss) for the year of continuing operations
$
(3,209
)
$
132
$
1,772
$
(312
)
Project evaluation and transaction related expenses
2,555
91
3,623
641
Interest Income
(387
)
(65
)
(731
)
(198
)
Interest and finance expenses
140
387
478
2,028
Tax expense plus attributable share of Caserones
2,160
631
6,008
2,746
Depletion plus attributable share of Caserones
5,132
2,775
17,791
8,750
Depreciation
23
–
23
–
Losses (gains) on revaluation of financial instruments
(789
)
14
(769
)
5
Share-based compensation
445
368
2,436
1,388
Losses (gains) on disposals
369
–
2,253
(373
)
Impairment charges
2,017
436
2,017
436
Adjusted EBITDA
$
8,456
$
4,769
$
34,901
$
15,111
The presentation of this non-IFRS measure is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS Accounting Standards. Other companies may calculate these non-IFRS measures differently.
Reconciliation of Revenue, Depletion and Tax expense plus Attributable Share of Caserones:
Revenue plus attributable share of Caserones is a non-IFRS financial measure, which is defined as including gross royalty revenue from associated entities holding royalty interests related to Elemental’s effective royalty on the Caserones copper mine. Management uses revenue plus attributable share of Caserones to evaluate the underlying operating performance of the Company for the reporting periods presented, to assist with the planning and forecasting of future operating results, and to supplement information in its financial statements. Management believes that in addition to measures prepared in accordance with IFRS Accounting Standards such as revenue, investors may use revenue plus attributable share of Caserones to evaluate the results of the underlying business, particularly as the revenue plus attributable share of Caserones may not typically be included in operating results. Management believes that revenue plus attributable share of Caserones is a useful measure of the Company performance because it adjusts for items which management believes reflect the Company’s core operating results from period to period. Revenue plus attributable share of Caserones is intended to provide additional information to investors and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS Accounting Standards. It does not have any standardized meaning under IFRS Accounting Standards and may not be comparable to similar measures presented by other issuers.
Depletion plus attributable share of Caserones and tax expense plus attributable share of Caserones are non-IFRS measures which include depletion and tax expense from the Caserones royalty asset respectively, consistent with the recognition of revenue plus attributable share of Caserones as described above.
The following is the reconciliation of revenue plus attributable share of Caserones:
For the three months ended December 31,
For the year ended December 31,
(In thousands of US dollars)
2025
2024
2025
2024
Revenue
$
16,047
$
5,519
$
43,643
$
16,323
The Company’s share of royalty revenue from Caserones
$
1,179
$
1,308
$
5,557
$
5,277
Revenue plus attributable share of Caserones
$
17,226
$
6,827
$
49,200
$
21,600
The following is the reconciliation of depletion plus attributable share of Caserones:
For the three months ended December 31,
For the year ended December 31,
(In thousands of US dollars)
2025
2024
2025
2024
Depletion of royalties
$
(4,882
)
$
(2,392
)
$
(16,334
)
$
(7,218
)
Depletion of Caserones
$
(250
)
$
(383
)
$
(1,457
)
$
(1,532
)
Depletion plus attributable share of Caserones
$
(5,132
)
$
(2,775
)
$
(17,791
)
$
(8,750
)
The following is the reconciliation of tax expense plus attributable share of Caserones:
For the three months ended December 31,
For the year ended December 31,
(In thousands of US dollars)
2025
2024
2025
2024
Tax expense
$
(1,842
)
$
(304
)
$
(4,508
)
$
(1,321
)
Tax expense related to Caserones
$
(318
)
$
(327
)
$
(1,500
)
$
(1,425
)
Tax expense plus attributable share of Caserones
$
(2,160
)
$
(631
)
$
(6,008
)
$
(2,746
)
Reconciliation of Adjusted Cash Flows from Operating Activities:
Adjusted cash flows from operating activities is a non-IFRS measure which includes dividends from the Caserones royalty asset.
The following is the reconciliation of adjusted cash flows from operating activities:
For the three months ended December 31,
For the year ended December 31,
(In thousands of US dollars)
2025
2024
2025
2024
Cash provided by operating activities
$
11,203
$
2,555
$
30,811
$
4,816
Caserones royalty distributions
–
760
3,126
3,922
Adjusted cash flows from operating activities
$
11,203
$
3,315
$
33,937
$
8,738
Reconciliation of Gold Equivalent Ounces Sold
Elemental’s revenue plus attributable share of Caserones is converted to an attributable gold equivalent ounce, or GEO, basis by dividing the royalty and other revenue from associates in a period by the average gold price for the same respective period. The presentation of this non-IFRS measure is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS
Accounting Standards. Other companies may calculate these non-IFRS measures differently. The production forecast was derived using information that is available in the public domain as at the date hereof, which included guidance and estimates prepared and issued by management of the operators of the mining operations in which Elemental holds an interest. The production forecast is sensitive to the performance and operating status of the underlying mines. None of the information has been independently verified by Elemental and may be subject to uncertainty. There can be no assurance that such information is complete or accurate.
The following is the reconciliation of gold equivalent ounces sold:
For the three months ended December 31,
For the year ended December 31,
(Revenue and gold price In US dollars)
2025
2024
2025
2024
Revenue plus attributable share of Caserones (in $000s)
Denver, Colorado–(Newsfile Corp. – March 18, 2026) – Elemental Royalty Corporation (TSXV: ELE) (NASDAQ: ELE) (“Elemental” or “the Company“) will release its Q4 and Full Year 2025 results after market close on Tuesday March 24, 2026.
An investor webinar will be held on Wednesday March 25, 2026, starting at 9am Mountain Time, 11am Eastern Time, to discuss these results, followed by a question-and-answer session.
About Elemental Royalty Corporation. Elemental Royalty is a new mid-tier, gold-focused streaming and royalty company with a globally diversified portfolio of 18 producing assets and more than 200 royalties, anchored by cornerstone assets and operated by world-class mining partners. Formed through the merger of Elemental Altus and EMX, the Company combines Elemental Altus’s track record of accretive royalty acquisitions with EMX’s strengths in royalty generation and disciplined growth. This complementary strategy delivers both immediate cash flow and long-term value creation, supported by a best-in-class asset base, diversified production, and sector-leading management expertise.
Elemental Royalty trades on the TSX Venture Exchange and on NASDAQ under the ticker symbol “ELE”.
Cautionary note regarding forward-looking statements and financial outlook This news release contains certain “forward-looking statements” and certain “forward-looking information” as defined under applicable United States and Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “should”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology (including negative and grammatical variations thereof).
Forward-looking statements and information include, but are not limited to, statements regarding future royalties and future consideration payments or issuances of shares, or other statements that are not statements of fact. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies.
Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Elemental to control or predict, that may cause Elemental’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the impact of general business and economic conditions, the absence of control over the mining operations from which Elemental will receive royalties, risks related to international operations, government relations and environmental regulation, the inherent risks involved in the exploration and development of mineral properties; the uncertainties involved in interpreting exploration data; the potential for delays in exploration or development activities; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with Elemental’s expectations; accidents, equipment breakdowns, title matters, labour disputes or other unanticipated difficulties or interruptions in operations; fluctuating metal prices; unanticipated costs and expenses; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations; currency fluctuations; regulatory restrictions, including environmental regulatory restrictions; liability, competition, loss of key employees and other related risks and uncertainties. For a discussion of important factors which could cause actual results to differ from forward-looking statements, refer to the annual information form of Elemental for the year ended December 31, 2024. Elemental undertakes no obligation to update forward-looking statements and information except as required by applicable law. Such forward-looking statements and information represent management’s best judgment based on information currently available. No forward-looking statement or information can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
Neither the TSX-V, its Regulation Service Provider (as that term is defined in the policies of the TSX-V) or the Nasdaq Stock Market LLC accepts responsibility for the adequacy or accuracy of this press release.
March 18, 2026 – Vancouver, BC: Riverside Resources Inc. (“Riverside” or the “Company”) (TSX-V: RRI) (OTCQB: RVSDF) (FSE: 5YY0), is pleased to announce the successful consolidation of the Famosa Area with three mineral concessions within the Union Project district in Sonora, Mexico, through the completion of the final payment and transfer of mineral title from Pacific Comox S.A. de C.V. to Riverside’s wholly owned Mexican subsidiary, RRM Exploración S.A.P.I. de C.V.. This provides the Company with clear ownership and the ability to advance exploration and, potentially, move toward mining based on future development results.
The transaction completes the acquisition of three mineral concessions: La Famosa, Dana 7, and Dana 7 which form an important portion of the southern part of the Union Project district. These concessions are mineral titles 199006, 220840, and 220841, with validity extending from 1994 through 2044 and 2003 through 2053, respectively. This long-term validity and fully titled status fit with the rest of the district mineral titles that the Company is advancing through its spring 2026 mineral exploration program.
The concessions were originally secured through an exploration agreement signed in August 2021 between RRM Exploración S.A.P.I. de C.V. and Pacific Comox S.A. de C.V., which provided Riverside with an option to purchase the claims within a five-year period (2021–2026). With the completion of the final payment of US$125,000, Riverside has now exercised the purchase option, and the titles have been formally transferred to Riverside. The total consideration for the acquisition amounts to US$175,000, and notably no net smelter royalty (“NSR”) or any other type of royalty is attached to this transaction.
“We are pleased to complete the consolidation of the Famosa area within the Union Project, securing full ownership with no royalty burden for the transaction on these key concessions,” said John-Mark Staude, President and CEO, Riverside Resources Inc. “This strengthens our district-scale land position and provides greater flexibility as we continue advancing exploration at Union with our partner Questcorp.”
The Famosa Area hosts carbonate replacement deposit (CRD) style mineralization and structurally controlled gold mineralization within dolomite and quartzite units, located in the southern portion of the broader Union Project district. The consolidation strengthens Riverside’s land position within the Union district and supports ongoing exploration efforts targeting CRD-style gold–silver–polymetallic mineralization.
This transaction represents another step in the systematic advancement of the Union Project, where Riverside has been working in partnership with Questcorp under an option agreement that provides for up to C$5.5 million in exploration expenditures funded by Questcorp while Riverside retains equity exposure and a 2.5% net smelter royalty on the project. Previous exploration programs at Union have included geological mapping, geophysics, diamond drilling, and high-grade rock chip channel sampling that have confirmed the presence of gold- and polymetallic-bearing CRD-style and sediment hosted gold-style mineralization across multiple targets within the district. By securing the Famosa concessions outright, Riverside further consolidates its district-scale land position and enhances the exploration potential across the southern portion of the Union Project. The expanded control of mineral titles provides increased flexibility for future exploration programs and supports the continued advancement of the project with partner-funded exploration.
Further technical updates related to exploration activities at the Union Project will be provided as programs progress.
About the Union Project
The Union Project is a district-scale carbonate replacement deposit (CRD) exploration project located in Sonora, Mexico. The project hosts historical mining areas and multiple exploration targets associated with gold, silver, zinc, and lead mineralization within carbonate and structurally controlled settings. Riverside operates the project through its Mexican subsidiary while advancing exploration in partnership with Questcorp.
Qualified Person
The technical content of the news release has been reviewed and approved by Freeman Smith, P.Geo. (British Columbia), a qualified person under National Instrument 43-101 who is non-independent and the Vice President Exploration for the Company.
About Riverside Resources Inc.: Riverside is a well-funded exploration company driven by value generation and discovery. The Company has a strong balance sheet with over C$5,000,000 cash, no debt and tight share structure with a strong portfolio of gold-silver, copper, and REE assets and royalties in North America. Further information about Riverside is available on the Company’s website at www.rivres.com.
ON BEHALF OF THE BOARD OF RIVERSIDE RESOURCES INC.
Eric Negraeff Investor Relations Riverside Resources Inc. Phone: (778) 327-6671 TF: (877) RIV-RES1 Web: www.rivres.com
Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward-looking terminology (e.g., “expect”,” estimates”, “intends”, “anticipates”, “believes”, “plans”). Such information involves known and unknown risks — including the risk that the Transaction will not be completed as contemplates, or at all, availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Denver, Colorado–(Newsfile Corp. – March 2, 2026) – Elemental Royalty Corporation (TSXV: ELE) (NASDAQ: ELE) (“Elemental” or “the Company“) notes the announcement by Quilla Resources Inc. (“Quilla”) on the successful production of first copper cathode from the Chapi Copper Project (“Chapi”) in southern Peru. Elemental holds a 2.0% Net Smelter Return (“NSR”) royalty on the project.
Highlights
First production of copper cathode at the Chapi Copper Project following Quilla’s acquisition in December 2024
Ramp-up underway toward plant nameplate capacity of approximately 10,000 tonnes per annum of copper cathode
Elemental expects first royalty payment from Chapi in Q1 2026
Chief Executive Officer and Director of Elemental Royalty, David M. Cole, commented: “Quilla has made phenomenal progress at Chapi with first copper cathode produced, and ramp-up underway toward nameplate capacity. This rapid progression through key de-risking milestones underscores the project’s meaningful value and significant upside potential.”
Details Quilla has announced first production of copper cathode at Chapi following the acquisition of the brownfield asset in December 2024. Quilla undertook a comprehensive technical review, engineering evaluation, and operational planning before commencing refurbishment at the mine and solvent extraction and electrowinning (SX-EW) plant facilities. The restart was achieved within the originally stated schedule and budget, reflecting management’s strong execution, operational discipline, and reaffirming Elemental’s confidence in Quilla, and in-country subsidiary Minera Pampa de Cobre S.A.C., as operators.
Following the successful commissioning of the SX-EW the plant, Quilla have stated their intention to progressively increase operating rates toward an initial 10,000 tonnes of copper cathodes per year, while completing remaining capital projects and site optimization initiatives to support stable, long-term operations.
Elemental Royalty on Chapi Acquired in January 2025, the royalty comprises a 2% NSR on minerals produced from the approximately 26,000-hectare property, as well as a 2% NSR royalty on any minerals produced from properties acquired by Quilla within a two-kilometer area of interest (“AOI”). In addition, the agreement includes an additional 2% NSR royalty from any minerals that are produced from outside the Property Royalty area, but that are processed at the Chapi Solvent Extraction Electro-Winning (“SX-EW”) plant.
Background on the Chapi Mine The Chapi Mine is located in southern Peru’s Moquegua and Arequipa Departments at an elevation of approximately 2,750 meters, and has ready access approximately 50 kilometers south-southeast from the city of Arequipa. Historical, small-scale copper production, which is poorly documented, occurred intermittently from the 1930s through the early 1980s. Subsequently, between 2006 and 2012 the Chapi Mine produced approximately 5,000 to 8,500 tonnes per annum, initially of copper sulphates from open-pit and underground mining and heap leaching, and later copper cathodes from open-pit mining, heap leaching, and SX-EW (solvent extraction-electrowinning) processing. The grades mined during 2006-2012 were reported as 0.59% – 1.04% copper. The operations were halted in 2012 due to declining copper prices and operational challenges that were mainly related to insufficient ore control on materials delivered to the leach pads.
The historical Chapi Mine is comprised of two principal open pits, underground workings, a crushing and agglomeration circuit, heap leach pads, a solvent extraction plant, an electrowinning copper cathode plant, and related infrastructure including mine camp, office facilities, water supply, and power. Since 2012, Chapi has been under care and maintenance with the principal permits for mining operations remaining in place under a temporary suspension.
For further information contact: David M. Cole CEO and Director
About Elemental Royalty Corporation. Elemental Royalty is a new mid-tier, gold-focused streaming and royalty company with a globally diversified portfolio of 18 producing assets and more than 200 royalties, anchored by cornerstone assets and operated by world-class mining partners. Formed through the merger of Elemental Altus and EMX, the Company combines Elemental Altus’s track record of accretive royalty acquisitions with EMX’s strengths in royalty generation and disciplined growth. This complementary strategy delivers both immediate cash flow and long-term value creation, supported by a best-in-class asset base, diversified production, and sector-leading management expertise.
Elemental Royalty trades on the TSX Venture Exchange and on NASDAQ under the ticker symbol “ELE”.
Cautionary note regarding forward-looking statements and financial outlook This news release contains certain “forward looking statements” and certain “forward-looking information” as defined under applicable United States and Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “should”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology (including negative and grammatical variations thereof).
Forward-looking statements and information include, but are not limited to, statements regarding future royalties and future consideration payments or issuances of shares, or other statements that are not statements of fact. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies.
Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Elemental to control or predict, that may cause Elemental’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the impact of general business and economic conditions, the absence of control over the mining operations from which Elemental will receive royalties, risks related to international operations, government relations and environmental regulation, the inherent risks involved in the exploration and development of mineral properties; the uncertainties involved in interpreting exploration data; the potential for delays in exploration or development activities; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with Elemental’s expectations; accidents, equipment breakdowns, title matters, labour disputes or other unanticipated difficulties or interruptions in operations; fluctuating metal prices; unanticipated costs and expenses; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations; currency fluctuations; regulatory restrictions, including environmental regulatory restrictions; liability, competition, loss of key employees and other related risks and uncertainties. For a discussion of important factors which could cause actual results to differ from forward-looking statements, refer to the annual information form of Elemental for the year ended December 31, 2024. Elemental undertakes no obligation to update forward-looking statements and information except as required by applicable law. Such forward-looking statements and information represent management’s best judgment based on information currently available. No forward-looking statement or information can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
Neither the TSX-V, its Regulation Service Provider (as that term is defined in the policies of the TSX-V) or the Nasdaq Stock Market LLC accepts responsibility for the adequacy or accuracy of this press release.
Denver, Colorado–(Newsfile Corp. – March 2, 2026) – Elemental Royalty Corporation (TSXV: ELE) (NASDAQ: ELE) (“Elemental” or the “Company“) is pleased to announce the signing of an amendment to the Company’s existing Revolving Credit Facility (the “Facility”), which has now been upsized to US$150 million with a US$50 million Accordion feature (the “Accordion”). National Bank Capital Markets and Canadian Imperial Bank of Commerce (“CIBC”) acted as Co-Lead Arrangers on the transaction, with National Bank Capital Markets also acting as Sole Bookrunner. National Bank of Canada (“NBC”) acted as Administrative Agent. Each of NBC, CIBC and The Bank of Nova Scotia (“Scotia”) acted as Lenders (together “the Lenders”).
Highlights
US$150 million Revolving Credit Facility with NBC, CIBC, and Scotia
US$50 million Accordion feature available, subject to certain conditions
Expanded Credit Facility solidifies Elemental’s strong foundation from which to transact on further accretive royalties and stream opportunities
The Facility matures on February 27, 2029
Stefan Wenger, Chief Financial Officer of Elemental Royalty, commented: “Upsizing our credit facility represents a strong vote of confidence from our banking partners at NBC, CIBC, and Scotia, and reflects the momentum of our business following a transformational year in 2025, which included our merger and our listing on Nasdaq. This expanded capacity enhances Elemental’s strong cash position and financial flexibility and provides additional headroom to support more material future transactions. We’re pleased to have secured the facility on attractive terms, reinforcing our disciplined approach to capital management and our focus on long-term stakeholder value.”
Terms of the Transaction The Company has entered into an agreement with NBC, CIBC, and Scotia for a US$150 million Facility, with an option to increase to a total of US$200 million through an Accordion facility of US$50 million, subject to the satisfaction of certain conditions. This is an amendment to the currently undrawn facility of US$50 million.
The Facility has a term of three years, extendable through mutual agreement between Elemental and the Lenders. Depending on the Company’s leverage ratio, the amounts drawn on the Facility are subject to interest at SOFR plus 2.25%-3.5% per annum and the undrawn portion is subject to a standby fee of 0.50%-0.78% per annum.
The Facility has been entered into by Elemental as borrower, NBC as Administrative Agent, National Bank Capital Markets as Sole Bookrunner and Co-Lead Arranger, CIBC as Co-Lead Arranger and Syndication Agent.
About Elemental Royalty Corporation. Elemental Royalty is a new mid-tier, gold-focused streaming and royalty company with a globally diversified portfolio of 18 producing assets and more than 200 royalties, anchored by cornerstone assets and operated by world-class mining partners. Formed through the merger of Elemental Altus and EMX, the Company combines Elemental Altus’s track record of accretive royalty acquisitions with EMX’s strengths in royalty generation and disciplined growth. This complementary strategy delivers both immediate cash flow and long-term value creation, supported by a best-in-class asset base, diversified production, and sector-leading management expertise.
Elemental Royalty trades on the TSX Venture Exchange and on NASDAQ under the ticker Symbol “ELE”.
Forward-Looking Statements This news release contains certain “forward looking statements” and certain “forward-looking information” as defined under applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “should”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology (including negative and grammatical variations thereof).
Forward-looking statements and information include, but are not limited to, statements regarding future royalties and future consideration payments or issuances of shares, or other statements that are not statements of fact. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies.
Financial outlook contained in this news release includes: the Company’s 2025 cash position of approximately $53 million (as the Company’s audited annual financial statements are not yet completed).
Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Elemental Royalty to control or predict, that may cause Element’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the impact of general business and economic conditions, the absence of control over the mining operations from which Elemental will receive royalties, risks related to international operations, government relations and environmental regulation, the inherent risks involved in the exploration and development of mineral properties; the uncertainties involved in interpreting exploration data; the potential for delays in exploration or development activities; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with Elemental’s expectations; accidents, equipment breakdowns, title matters, labour disputes or other unanticipated difficulties or interruptions in operations; fluctuating metal prices; unanticipated costs and expenses; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations; currency fluctuations; regulatory restrictions, including environmental regulatory restrictions; liability, competition, loss of key employees and other related risks and uncertainties. For a discussion of important factors which could cause actual results to differ from forward-looking statements, refer to the annual information form of Elemental for the year ended December 31, 2024. Elemental Royalty undertakes no obligation to update forward-looking statements and information except as required by applicable law. Such forward-looking statements and information represents management’s best judgment based on information currently available. No forward-looking statement or information can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
Neither the TSX-V, its Regulation Service Provider (as that term is defined in the policies of the TSX-V), or the Nasdaq Stock Market LLC accepts responsibility for the adequacy or accuracy of this press release.
Vancouver, British Columbia–(Newsfile Corp. – February 25, 2026) – West Point Gold Corp. (TSXV: WPG) (OTCQB: WPGCF) (FSE: LRA0) (“West Point Gold” or the “Company”) is pleased to announce the results for four holes from the high-grade zone at Northeast (NE) Tyro, part of the ongoing 15,000 metre (m) drill program at its flagship Gold Chain Project in Arizona. The Company is reporting assay results for four drill holes (954m), GC25-89, GC25-90, GC26-91 and GC26-93.
Highlights:
These holes have extended the strike length of the high-grade zone at NE Tyro to more than 300m (Figure 2).
Hole GC26-91 returned 21.34m of 13.48 g/t Au from 128.0m to 149.4m, expanding the highest portion of the high-grade zone at NE Tyro to the northeast.
Hole GC25-89 returned 32.0m of 4.48 g/t Au from 152.4m to 184.4m, about 30m south of GC25-48 (41.2m at 4.33 g/t Au) and about 100m below surface vein exposures.
Hole GC26-93 returned 30.5m of 3.09 g/t Au from 132.6 to 163.1m, expanding the high-grade zone at NE Tyro along strike to the northeast.
Hole GC25-90 returned 25.9m of 1.23g/t Au from 256.0m to 281.9m and expands the mineralized zone at NE Tyro along strike to the southwest into an area previously considered to be weakly mineralized.
To date, 9,898m of the ongoing 15,000m drill program at the Gold Chain project have been completed, with assays released for 4,194m of drilling. Results are pending from the Tyro Main Zone, South Tyro, Red Hill Ledge, Black Dyke and Sheep Trail targets, representing 30 holes.
A third drill rig (core) will commence drilling at Gold Chain in early March, focused on increasing our understanding of the high-grade NE Tyro zone and extending the Tyro Main Zone to depth.
“The continuity and consistent high grades at NE Tyro, along with our ability to continue expanding the zone, are positive indicators for the scale potential of this zone. Drilling continues at Gold Chain, as we are well funded to deliver on our dual exploration goals for 2026, of delivering a maiden resource for the Tyro Main Zone and making a discovery at one of the multiple step-out targets we are testing,” stated Derek Macpherson, President and CEO.
Table 1: Drill Results
Holes
From (m)
To (m)
Width (m)
Grade (g/t Au)
GC25-89
152.4
184.4
32.0
4.48
GC25-90
256.0
281.9
25.9
1.23
GC26-91
128.0
149.4
21.3
13.48
GC26-93
132.6
163.1
30.5
3.09
Note: All widths shown are downhole; true widths are approximately 50-75% of downhole widths.
Figure 1: Plan view of the Main Tyro vein showing geology and drilling conducted in 2021, 2023, 2024, 2025, and 2026. Note the location of Hole Nos. GC25-89, GC25-90, GC26-91, and GC26-93.
Figure 2: Longitudinal perspective of the Tyro Main and NE Zones Showing Core and RC Drilling to Date. Holes GC25-89, GC25-90, GC26-91, and GC26-93 are highlighted and described below.
Summary Holes GC25-89, GC25-90, GC26-91, and GC26-93 continue to expand and provide improved definition of the high-grade gold mineralization in the NE Tyro zone at the Company’s Gold Chain project in Arizona. The four holes comprising this release represent 954.1m of the 9,898m drilled to date in the current 15,000m program.
The hole descriptions below briefly highlight the most recently completed holes across the NE Tyro vein, including the last two holes of the 2025 campaign and the first two holes of 2026. The high-grade Northeast Tyro zone is anchored by a higher-grade core. The entire zone remains open to depth and to the northeast along strike.
West Point Gold will commence core drilling of both the Northeast and Main Tyro zones in early March. With the anticipated receipt of the Plan of Operations (POO) in early March, drilling will continue to track the vein to the northeast toward the Frisco Graben and to depth. Results to date (Figure 2) reveal that high-grade gold mineralization extends below 200m (below surface) and over a strike length in excess of 300m. Receipt of the POO will permit drilling both core and RC holes outside the controlled patented claims, allowing deeper tests and further exploration to the northeast and toward the Frisco Graben target area.
Holes GC25-89 and GC25-90 Hole GC25-89 was designed to provide additional definition of the emerging high-grade zone at its southern end. The hole traversed the vein breccia/stockwork zone at 152.4m to 184.4m (32.0m) containing 4.48 g/t Au. This intersection is about 25m south of hole GC25-48, which contains 41.2m of 4.33 g/t Au, revealing good grade correlation between the two holes. Figure 3 suggests a true width of about 20m for the mineralized zone and a dip of about 74 degrees to the southeast. The intercept’s midpoint is about 100m below the surface.
Hole GC25-90 was designed to explore a portion of the vein system that hosts lower grades over broader intervals. GC25-60 encountered 33m (true width) of 1.29 g/t Au in a quartz-calcite stockwork zone, to connect the gold mineralization to the Main Tyro Zone (Figure 2). Hole GC25-90 (this PR) crossed the mineralized zone about 75m down-dip from GC25-60 and traversed 25.9m (apparent width) of 1.23 g/t Au (Figure 2). Additional drilling is warranted in this area but must be conducted at greater depths and collared outside of the patented claims.
Figure 3: Geologic section drawn along GC25-89 showing vein and spatial relation to GC25-48, GC24-34 and the surface.
Holes GC26-91 and GC26-93 Hole GC26-91 was drilled from the northeast corner of the Tyro patent and oriented perpendicular to the NE-trending Tyro structure. The goal was to traverse the high-grade zone at a higher elevation than hole GC25-88 (44.2m of 5.46 g/t Au) but beneath hole GC25-46, which encountered a broad zone of quartz-chlorite alteration with only minor quartz veinlets and negligible gold values. Hole GC26-91 traversed a distinct quartz-adularia vein and vein breccia from 128.0m to 149.4m (21.3m) containing 13.48 g/t Au with an estimated true width of 11.5m (Figure 4). Geologic interpretation, provided in Figure 4, indicates that the vein dips about 70 degrees. Hole GC25-88 crossed the vein about 30m down-dip.
Hole GC25-93 was drilled to the north from the same site as -91 to test the northeast extent of the high-grade zone. The hole encountered the vein at 132.6m to 163.1m (30.5m), which contained 3.09 g/t Au at about 120m below the surface. This intercept supports West Point Gold’s belief that the NE Tyro high-grade zone projects toward the Frisco Graben target area and plunges to depth beneath a broad alluvium-filled wash. This area will be the initial target for the deep drilling program to commence upon the receipt of the Plan of Operations.
Figure 4: Cross Sectional View of Hole GC26-91 between Holes GC25-46 and -88.
Qualified Person Robert Johansing, M.Sc. Econ. Geol., P. Geo., the Company’s Vice President, Exploration, is a qualified person (“QP”) as defined by NI 43-101 and has reviewed and approved the technical content of this press release. Mr. Johansing has also been responsible for overseeing all phases of the drilling program, including logging, labelling, bagging and transport from the project to American Assay Laboratories of Sparks, Nevada. Drillholes have a diameter of about 10cm, and samples have an approximate weight of 5 to 10kg. Samples were then dried, crushed and split, and pulp samples were prepared for analysis. Gold was determined by fire assay with an ICP finish, and over-limit samples were determined by fire assay and gravimetric finish. Silver plus 15 other elements were determined by Aqua Regia ICP-AES (IM-2A16), and over-limit samples were determined by fire assay and gravimetric finish. Both certified standards and blanks were inserted on site along with duplicates, standards and blanks inserted by American Assay. The results summarized above have been carefully reviewed with reference to the QA/QC results. Standard sample chain of custody procedures were employed during drilling and sampling campaigns until delivery to the analytical facility.
About West Point Gold Corp. West Point Gold is an exploration and development company focused on unlocking value across four strategically located projects along the prolific Walker Lane Trend in Nevada and Arizona, USA, providing shareholders with exposure to multiple discovery opportunities across one of North America’s most productive gold regions. The Company’s near-term priority is advancing its flagship Gold Chain Project in Arizona.
For further information regarding this press release, please contact: Aaron Paterson, Corporate Communications Manager Phone: +1 (778) 358-6173 Email: info@westpointgold.com
FORWARD-LOOKING STATEMENTS: Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events including, among others, assumptions about future prices of gold, silver, and other metal prices, currency exchange rates and interest rates, timing of the Company’s maiden resource estimate, favourable operating conditions, political stability, obtaining government approvals and financing on time, obtaining renewals for existing licenses and permits and obtaining required licenses and permits, labour stability, stability in market conditions, availability of equipment, availability of drill rigs, and anticipated costs and expenditures. The Company cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. Such factors include, among other things: risks and uncertainties relating to West Point Gold’s ability to complete any payments or expenditures required under the Company’s various option agreements for its projects; and other risks and uncertainties relating to the actual results of current exploration activities, the uncertainties related to resources estimates; the uncertainty of estimates and projections in relation to production, costs and expenses; risks relating to grade and continuity of mineral deposits; the uncertainties involved in interpreting drill results and other exploration data; the potential for delays in exploration or development activities; uncertainty related to the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results may vary from those expected; statements about expected results of operations, royalties, cash flows, financial position may not be consistent with the Company’s expectations due to accidents, equipment breakdowns, title and permitting matters, labour disputes or other unanticipated difficulties with or interruptions in operations, fluctuating metal prices, unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and regulatory restrictions, including environmental regulatory restrictions. The possibility that future exploration, development or mining results will not be consistent with adjacent properties and the Company’s expectations; operational risks and hazards inherent with the business of mining (including environmental accidents and hazards, industrial accidents, equipment breakdown, unusual or unexpected geological or structural formations, cave-ins, flooding and severe weather); metal price fluctuations; environmental and regulatory requirements; availability of permits, failure to convert estimated mineral resources to reserves; the inability to complete a feasibility study which recommends a production decision; the preliminary nature of metallurgical test results; fluctuating gold prices; possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, political risks, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks involved in the mineral exploration and development industry, and those risks set out in the filings on SEDAR+ made by the Company with securities regulators. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this corporate press release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, other than as required by applicable securities legislation.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
With one major exception, the data shows that one country will dominate future refining shares. China.
China to Dominate the Future of Critical Mineral Refining
By 2030, China will play a dominant role in lithium, rare earth elements (REEs), cobalt, and graphite, controlling nearly 60% of all critical mineral refining. Such concentrated processing capacity offers efficiencies that may lower costs but heightens geopolitical risk for downstream buyers.
It also leaves limited room for late-moving countries looking to gain share without major capital commitments.
Country
🟫 Nickel
🔌 Copper
🔋 Lithium
🧲 REE
⚗️ Cobalt
✏️ Graphite (Synthetic)
🪨 Graphite (Natural)
China
6.24%
44.63%
60.86%
86.11%
71.42%
85.16%
70.50%
Indonesia
71.24%
—
—
—
—
—
6.30%
Russia
3.26%
—
—
—
—
—
—
DRC
—
7.96%
—
—
—
—
—
India
—
6.41%
—
—
—
3.06%
—
Chile
—
—
11.59%
—
—
—
—
Argentina
—
—
11.58%
—
—
—
—
United States
—
—
—
5.14%
—
2.79%
7.22%
Malaysia
—
—
—
2.27%
—
—
—
Finland
—
—
—
—
5.87%
—
0.69%
Canada
—
—
—
—
5.73%
—
4.47%
South Korea
—
—
—
—
—
—
3.56%
Australia
—
—
—
—
—
—
2.01%
Sweden
—
—
—
—
—
—
1.84%
Morocco
—
—
—
—
—
—
1.15%
Saudi Arabia
—
—
—
—
—
—
0.94%
Uganda
—
—
—
—
—
—
0.72%
Tanzania
—
—
—
—
—
—
0.58%
🌍 Other
19.27%
40.99%
15.98%
6.49%
16.97%
8.98%
—
Nickel’s Outlier: Indonesia Leads, China Trails
Nickel is the one mineral where China is not on top. Indonesia will command over 71.24% of refined nickel by leveraging its large ore reserves, expanding low-cost refineries, and enforcing a ban on raw ore exports.
China’s share is just 6.24%, with Russia at 3.26% and the rest of the world spread across “Other” at 19.27%. This shift positions Indonesia as a price-setting force in nickel used for stainless steel or EV batteries.
Copper Is More Fragmented; North America Plays Niche Roles
Copper refining is relatively diversified. China holds 44.63%, but “Other” countries make up 40.99%, indicating broader global refining capacity.
The U.S. appears notably in rare earths (REEs) at 5.14%, while Finland and Canada register meaningful shares in cobalt at 5.87% and 5.73%, respectively.
These footholds can strengthen regional EV supply chains, but they still pale in comparison to China’s scale.
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