Ms. Alexandra Sherron reports

EMPRESS ROYALTY WELCOMES NEW STRATEGIC INVESTOR, STRENGTHENS MANAGEMENT TEAM & GRANTS STOCK OPTIONS & EQUITY INCENTIVES

Empress Royalty Corp. has welcomed a new strategic investor, Gleason & Sons LLC. Gleason & Sons has acquired nearly seven million common shares of Empress Royalty through a series of open market purchases and cross trades in recent weeks.

"We look for undervalued royalty companies with low overhead, experienced management teams and an emphasis on generating near-term cash flows," said Stefan Gleason, managing director of Gleason & Sons. "We believe Empress has identified a subsector that has scant access to royalty financing, and the Empress team has the expertise to underwrite these high-yield opportunities along with the commitment to conduct the due diligence needed."

"I am excited to welcome Stefan Gleason as a long-term strategic investor in Empress," stated Alexandra Woodyer Sherron, chief executive officer and president of Empress Royalty. "Mr. Gleason has a proven track record of entrepreneurial success in the precious metals investment industry in the United States. We continue to drive growth and build the solid foundation for Empress's future as a leading junior royalty and streaming company."

Gleason & Sons is the family office of Mr. Gleason, a Charlotte-based entrepreneur who owns several privately held businesses in the United States, including Money Metals Exchange LLC. Money Metals is one of the largest precious metals dealers and depositories in North America with 500,000 customers and approximately $1-billion in annual revenues.

Appointment of corporate secretary

Empress Royalty is also pleased to announce the appointment of Michelle Borthwick to the position of corporate secretary.

"It is my pleasure to have Michelle Borthwick joining our team as corporate secretary, and to be working with Michelle again," stated Ms. Sherron, CEO and president of Empress Royalty. "She brings a wealth of knowledge and experience that I know will be a valued addition to our dynamic team and growth plans."

Ms. Borthwick is a corporate finance and governance professional with over 25 years of experience in senior corporate finance and governance roles, providing advice and support to various publicly listed issuers on the Toronto Stock Exchange, TSX Venture Exchange, Canadian Securities Exchange and OTC Markets. She is the founder and principal of Peakshore Consulting Inc., a corporate development consulting firm, and vice-president of corporate finance for Fiore Management & Advisory Corp. Prior to that, she was vice-president of corporate affairs and corporate secretary for Endeavour Mining Corp., and vice-president of corporate finance for its predecessor financial advisory company, Endeavour Financial Corp.

Ms. Borthwick will be replacing Christina Boddy, who is departing Empress to pursue other endeavours. The company wishes to thank Ms. Boddy for her service and wishes her all the best in the future.

Stock option and equity incentive grants

Empress Royalty also announces that the board of directors has approved the grant of 1.15 million incentive stock options to purchase an aggregate of 1.15 million common shares of the company to certain directors, officers, employees and consultants of the company. Each option is exercisable into one common share at an exercise price of 35 cents. The options are subject to certain vesting conditions and expire five years from the grant date.

In addition, the board of directors has also approved the grant of restricted share units (RSUs) representing the right to receive up to an aggregate of 1.5 million common shares and deferred share units (DSUs) representing the right to receive up to an aggregate of 1.75 million common shares to certain directors and officers of the company. Each of the DSU and RSU grants are subject to the satisfaction of certain vesting conditions.

All grants of options, RSUs and DSUs are subject to the company's stock option plan and/or equity incentive plan, which were approved by the shareholders of the company at its last annual meeting of shareholders held on Sept. 28, 2022.

About Empress Royalty Corp.

Empress is a global royalty and streaming creation company providing investors with a diversified portfolio of gold and silver investments. Since listing in December, 2020, Empress has built a portfolio of precious metal investments and is actively investing in mining companies with development-stage and production-stage projects that require additional non-dilutive capital. The company has strategic partnerships with Endeavour Financial and Terra Capital which allow Empress to not only access global investment opportunities but also bring unique mining finance expertise, deal structuring and access to capital markets. Empress is looking forward to continuously creating value for its shareholders through the proven royalty and streaming models.

We seek Safe Harbor.