Mr. Joseph de la Plante reports

EVOLVE ROYALTIES SECURES REVOLVING CREDIT FACILITY FOR UP TO US$75 MILLION

Evolve Royalties Ltd. has entered into a credit agreement with Bank of Montreal for a secured revolving credit facility of $50-million, with the option to increase to $75-million, subject to certain conditions.

(All amounts in United States dollars unless otherwise noted.)

"This credit facility with Bank of Montreal is an important milestone for Evolve," said Joseph de la Plante, president and chief executive officer of Evolve. "The $50-million commitment, together with the $25-million accordion, meaningfully enhances our financial flexibility and positions us to act decisively on high-quality opportunities in base and critical metals as they arise, building long-term value for our shareholders."

The facility matures three years from the date hereof and is secured by a charge over the company's assets. The facility may be drawn in USD base rate advances and term benchmark advances, which may be used for general corporate purposes and to finance the company's acquisitions and investments.

USD base rate advances will bear interest at the greater of (i) BMO's annual reference rate for commercial loans made in Canada in U.S. dollars, (ii) the federal funds effective rate plus 0.50 per cent per annum, and (iii) the term benchmark basis plus 1.00 per cent per annum, in each case, plus the applicable margin ranging from 1.50 per cent to 2.50 per cent per annum based on the company's net leverage ratio (as defined in the credit agreement). Term benchmark advances will bear interest at the secured overnight financing rate plus 0.10 per cent per annum (subject to a 0-per-cent per annum floor), plus the applicable margin ranging from 2.50 per cent to 3.50 per cent per annum based on the company's net leverage ratio.

A standby fee, ranging from 0.5625 per cent to 0.7875 per cent, is payable on the unused portion of the facility.

About Evolve Royalties Ltd.

Evolve Royalties is a copper-focused royalty company engaged in the acquisition and management of high-quality royalty, stream and other similar interests in base and critical metals.

We seek Safe Harbor.