Mr. David Cole reports

ELEMENTAL ROYALTY COMPLETES THE ACQUISITION OF VIZSLA ROYALTIES AND ITS 2-3.5% NSR ROYALTIES ON THE PANUCO PROJECT

Elemental Royalty Corp. has completed its previously announced acquisition of all of the issued and outstanding common shares of Vizsla Royalties by way of a court-approved plan of arrangement under the Business Corporations Act (British Columbia).

Through the transaction, Elemental has acquired Vizsla Royalties' 2.0-per-cent to 3.5-per-cent net smelter returns royalties on Vizsla Silver Corp.'s Panuco silver-gold project in Mexico. The Panuco Royalties are life-of-mine interests with no caps, buybacks or stepdowns, and cover the entire existing resources at Panuco.

Elemental chief executive officer David M. Cole commented: "Closing the acquisition of Vizsla Royalties is another major step in Elemental's growth and adds one of the sector's most compelling development royalties to our portfolio. The Panuco Royalties provide uncapped, life-of-mine exposure to a high-grade, large-scale silver-gold project with a clear path toward production and significant district-scale exploration potential. We are delighted to welcome former Vizsla Royalties shareholders to Elemental and look forward to partnering with the Vizsla Silver team as it advances Panuco and continues to unlock the broader district."

Transaction

Under the terms of the transaction, Vizsla Royalties shareholders were entitled to elect to receive, for each Vizsla Royalties common share, $4.13 in cash, 0.15 of an Elemental common share, or a combination of cash and Elemental common shares, subject to rounding and proration based on a maximum aggregate cash consideration of approximately $82-million.

Following the elections and proration, Elemental paid aggregate cash consideration of approximately $82-million and issued approximately 8,107,478 Elemental common shares to former Vizsla Royalties shareholders, subject to rounding. Former Vizsla Royalties shareholders now own approximately 11.19 per cent of the outstanding Elemental common shares.

All outstanding options and other securities of Vizsla Royalties were treated in accordance with the plan of arrangement. The Elemental common shares issued in the transaction were issued in reliance on the exemption from the registration requirements of the United States Securities Act of 1933, as amended, provided by Section 3(a)(10) thereof.

Next steps

The Vizsla Royalties common shares are expected to be delisted from the TSX Venture Exchange on or about the close of business on Sept. 16, 2026, and to cease to be quoted on the OTCQX. Vizsla Royalties will also apply to the Canadian securities regulators to cease to be a reporting issuer in the applicable jurisdictions immediately following the delisting.

Further details of the transaction are set out in the arrangement agreement dated May 13, 2026, and the management information circular of Vizsla Royalties dated June 9, 2026, prepared in connection with the transaction, each of which is available under Vizsla Royalties' profile on SEDAR+.

Early warning disclosure

Prior to the transaction, Elemental held nil common shares of Vizsla Royalties. Following the completion of the transaction, Elemental holds all of the issued and outstanding common shares of Vizsla Royalties. An early warning report will be filed by Elemental under Vizsla Royalties' profile on SEDAR+ in accordance with applicable Canadian securities laws. To obtain a copy of the early warning report, please contact the corporate secretary of Elemental at 604-688-6390 or info@elementalroyalty.com. Elemental's registered office is located at 905, 815 West Hastings St., Vancouver, B.C., V6C 1B4.

Financial advisers and legal counsel

Scotiabank acted as financial adviser to Elemental.

Bennett Jones LLP acted as legal counsel to Elemental.

GenCap Mining Advisory Ltd. acted as financial adviser to Vizsla Royalties and Canaccord Genuity Corp. acted as financial adviser to the Vizsla Royalties special committee.

Cassels Brock & Blackwell LLP acted as legal counsel to Vizsla Royalties. Blake, Cassels & Graydon LLP acted as legal counsel to the Vizsla Royalties special committee.

About Elemental Royalty Corp.

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 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 Nasdaq and on the Toronto Stock Exchange under the ticker symbol ELE.

We seek Safe Harbor.