Mr. Brad Docherty reports

SOURCE ROCK ROYALTIES ANNOUNCES ADDITIONAL ALBERTA CROWN MINERAL LEASES

Source Rock Royalties Ltd. has acquired additional oil sands and petroleum and natural gas (PNG) leases in Alberta.

As previously announced, Source Rock entered into a joint acquisition agreement with a private company (JV (joint venture) company), whereby the parties will jointly lease Crown mineral rights for the purpose of farming out the right to develop such leases in exchange for a royalty interest. The primary focus of the leasing JV is to acquire mineral rights prospective for various heavy oil horizons within the Mannville Stack that have the potential to be exploited using multilateral drilling technologies. All leases will be held 50 per cent by Source Rock. The principal of the JV company is a professional geologist with 25 years of prospecting experience within the Western Canadian sedimentary basin.

Pursuant to the leasing JV, the parties have now leased 31 sections (19,840 acres) of Crown mineral rights in Alberta. Mineral rights leased to date comprise 15 sections (9,600 acres) of 15-year oil sands leases and 16 sections (10,240 acres) of five-year PNG leases.

The parties will continue to evaluate, post for leasing and bid on additional Crown mineral leases. The leasing JV is focused on establishing an undeveloped land base that provides exposure to both near-term drilling potential in areas already being developed by high-quality operators and longer-term upside optionality through low-cost early-stage entry into less developed areas.

About Source Rock Royalties Ltd.

Source Rock is a pure-play oil and gas royalty company with an existing, oil-focused portfolio of royalty interests concentrated in southeastern Saskatchewan, central Alberta and west-central Saskatchewan. Source Rock targets a balanced growth and yield business model, using funds from operations to pursue accretive royalty acquisitions and to pay dividends. By leveraging its niche industry relationships, Source Rock identifies and acquires both existing royalty interests and newly created royalties through collaboration with industry partners. Source Rock's strategy is premised on maintaining a low-cost corporate structure and achieving a sustainable and scalable business, measured by growing funds from operations per share and maintaining a strong netback on its royalty production.

We seek Safe Harbor.