Mr. Brendan Yurik reports

ELECTRIC ROYALTIES PROVIDES AN UPDATE ON THE MIDDLE TENNESSEE MINE ZINC ROYALTY

Electric Royalties Ltd. is providing an update on the Middle Tennessee mine (MTM) in Tennessee, United States, operated by Nyrstar, the operating subsidiary of Trafigura.

On Oct. 31, 2023, Nyrstar announced that production operations at MTM will be temporarily paused on Nov. 30, 2023, due to weakened market conditions, and inflationary impacts on input costs and operating margins. Operations will resume as soon as economically viable.

During this temporary pause in production operations, Nyrstar plans to conduct exploration drilling to define additional zinc, germanium and gallium resources to position it to increase the supply to its Clarksville smelter upon completion of a planned investment to enable on-site recovery of germanium and gallium. Once operations resume, Nyrstar plans for MTM to supply diversified critical minerals to the U.S. market.

The MTM zinc royalty is held in a limited partnership in which Electric Royalties owns a 25-per-cent economic interest, with the remaining 75-per-cent interest held by Sprott Streaming and Royalties Corp.

Electric Royalties is relying on the information provided by Nyrstar and is unable to verify the reported information.

David Gaunt, PGeo, a qualified person who is not independent of Electric Royalties, has reviewed and approved the technical information in this release.

About Electric Royalties Ltd.

Electric Royalties is a royalty company established to take advantage of the demand for a wide range of commodities (lithium, vanadium, manganese, tin, graphite, cobalt, nickel, zinc and copper) that will benefit from the drive toward electrification of a variety of consumer products: cars, rechargeable batteries, large-scale energy storage, renewable energy generation and other applications.

Electric vehicle sales, battery production capacity and renewable energy generation are slated to increase significantly over the next several years and, with it, the demand for these targeted commodities. This creates a unique opportunity to invest in and acquire royalties over the mines and projects that will supply the materials needed to fuel the electric revolution.

Electric Royalties has a growing portfolio of 22 royalties, including two royalties that currently generate revenue. The company is focused predominantly on acquiring royalties on advanced-stage and operating projects to build a diversified portfolio located in jurisdictions with low geopolitical risk, which offers investors exposure to the clean energy transition via the underlying commodities required to rebuild the global infrastructure over the next several decades toward a decarbonized global economy.

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