Mr. Paolo Lostritto reports

SAILFISH REPORTS SAN ALBINO ROYALTY DRILLING HIGHLIGHTED BY 12.09 G/T GOLD OVER 11.5 M (ESTIMATED TRUE WIDTH) AT LAS CONCHITAS SOUTH; 15 M FROM SURFACE

Mako Mining Corp. has completed a 230-drill-hole, 9,000-metre (m) infill reverse circulation (RC) drill campaign at the Las Conchitas area of its wholly owned San Albino-Murra property located in northern Nicaragua, which Sailfish Royalty Corp. holds a royalty on. This infill RC program is part of the company's efforts to publish a maiden resource at Las Conchitas in 2023. Las Conchitas is located just south of the producing San Albino gold mine, which is currently in commercial production. Drilling was highlighted by the following.

Drilling highlights:

• 12.09 grams per tonne (g/t) gold (Au) and 23.5 g/t silver (Ag) over 14.0 metres (m) (11.5 m estimated true width (ETW)); including:
  • 15.60 g/t Au and 24.9 g/t Ag over four m (3.5 m ETW);
  • 31.10 g/t Au and 63.7 g/t Ag over three m (2.3 m ETW);
  • 18.48 g/t Au and 43.8 g/t Ag over three m (2.6 m ETW);
  • 15.60 g/t Au and 24.6 g/t Ag over two m (1.5 m ETW);
  • 30.45 g/t Au and 17.6 g/t Ag over five m (4.5m ETW);
  • 31.74 g/t Au and 14.1 g/t Ag over four m (3.3 m ETW);
  • 21.47 g/t Au and 17.1 g/t Ag over two m.

As a reminder to shareholders, Sailfish currently holds a gold stream equivalent to a 3-per-cent net smelter return royalty (NSR) on San Albino and a 2-per-cent NSR on the Las Conchitas area which consists of Las Conchitas North, Las Conchitas Central and Las Conchitas South.

Paolo Lostritto, chief executive officer of Sailfish, states: "This recent drilling at Las Conchitas reinforces the near mine discovery potential on ground where Sailfish shareholders benefit from a stream/royalty agreement. This is exciting news as Sailfish holds a 2-per-cent NSR on the entire Las Conchitas area. We look forward to a maiden resource at Las Conchitas and cash flow from this region as Mako intends to start mining and processing mineralized material as a part of a metallurgical program later this quarter. Cash flow coming from the stream/royalties is expected to buttress our industry leading dividend of five U.S. cents per share and to aggressively purchase our shares through the company's 3.5-million-share normal course issuer bid as we believe our current share price is well below fair value given the recent news at Spring Valley."

About Sailfish Royalty Corp.

Sailfish is a precious metals royalty and streaming company.

We seek Safe Harbor.