Mr. Paolo Lostritto reports

SAN ALBINO ROYALTY DRILLING HIGHLIGHTED BY 23.47 G/T AU OVER 9.5 M (ESTIMATED TRUE WIDTH); 15 M FROM SURFACE

Sailfish Royalty Corp.'s royalty partner, Mako Mining Corp., has released the results from 68 reverse circulation (RC) infill drill holes at the Las Conchitas area of its wholly owned San Albino-Murra property located in northern Nicaragua. Mako's main objective of the near-surface infill RC drilling program is to gain a higher level of confidence of the geometry of gold mineralization where Mako has received a permit to process material through the San Albino plant. Las Conchitas is located just south of the producing San Albino gold mine, which is currently in commercial production.

Drilling was highlighted by:

• 23.47 grams per tonne (g/t) gold (Au) and 32.6 g/t silver (Ag) over 11 metres (9.5 m estimated true width (ETW));
• 13.78 g/t Au and 20.6 g/t Ag over four m (3.1 m ETW);
• 12.03 g/t Au and 21.9 g/t Ag over five m (4.7 m ETW);
• 21.80 g/t Au and 17.1 g/t Ag over seven m (6.1 m ETW);
• 28.78 g/t Au and 30.5 g/t Ag over three m (ETW);
• Seven g/t Au and 14.6 g/t Ag over 11 m (9.5 m ETW).

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 entire Las Conchitas area, which consists of Las Conchitas North, Las Conchitas Central and Las Conchitas South.

Paolo Lostritto, chief executive officer of Sailfish, states that: "This recent drilling at Las Conchitas continues to bode well for the near-term expected cash flows from our 2-per-cent NSR on the entire Las Conchitas area. We look forward to a maiden resource at Las Conchitas as a market snapshot to the value of our royalty. In addition, Mako has started to mine and process mineralized material as a part of a metallurgical program at Las Conchitas. It is important to highlight the higher-than-previously reported silver grades encountered in this drilling, as it bodes well for our silver stream option that was announced on May 25, 2023."

For complete information on these results, please refer to Mako's news release issued on Sept. 6, 2023, which is available on its SEDAR+ profile or on Mako's website.

Qualified person

John M. Kowalchuk, PGeo, a geologist and qualified person (as defined under National Instrument 43-101), has read and approved the technical information contained in this press release. Mr. Kowalchuk is a senior geologist and a consultant to the company.

About Sailfish Royalty Corp.

Sailfish is a precious metal royalty and streaming company. Within Sailfish's portfolio are three main assets in the Americas: a gold stream equivalent to a 3-per-cent NSR on the San Albino gold mine (approximately 3.5 square kilometres) and a 2-per-cent NSR on the rest of the area (approximately 134.5 square kilometres) surrounding San Albino in northern Nicaragua; an up-to-3-per-cent NSR on the multimillion ounce Spring Valley gold project in Pershing county, Nevada; and a 100-per-cent interest in the Gavilanes silver project located in Durango state, Mexico.

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