Mr. Peter Bures reports

SILVER CROWN ROYALTIES ANNOUNCES CORPORATE UPDATE

Silver Crown Royalties Inc. has provided an update on its 2024 progress and 2025 expectations. Based on minimum silver payment obligations, it anticipates receipt of cash payments on 15,180 ounces of silver for 2024 and 36,063 ounces of silver in 2025 on its royalty portfolio.

BacTech Environmental Corp. -- bioleaching facility in Tanquel, Ecuador

In the fourth quarter of 2024, the company closed is first all-equity royalty purchase transaction on BacTech's future bioleaching facility in Tenguel, Ecuador, and issued $1.0-million of units of the company at a deemed price of $10 per unit at closing. Each unit consists of one common share in the capital of the company and one warrant entitling the holder thereof to acquire another common share at a price of $16 for a period of 36 months from closing. BacTech is advancing a bioleaching facility in Ecuador with the expectation of first production within the next two years. Upon full deployment of royalty payments (an additional $3.0-million in common shares at a deemed price of $10 per common share), BacTech is to deliver 90 per cent of silver produced or 35,000 ounces per year, for a minimum of 10 years, whichever is higher.

BacTech continues to make positive advancements regarding its bioleaching initiatives. Early last year, BacTech, in collaboration with Mirarco Mining Innovation, commissioned a bioleaching pilot plant in Sudbury to test bioleaching processes on pyrrhotite tailings, targeting the recovery of nickel, cobalt and other valuable byproducts. The pilot plant has completed baseline campaigns to ensure operational readiness, with full-scale testing planned to commence shortly. BacTech continues to expand its search for historic mine tailings in northern Peru to potentially supply feed for the Ecuador project or establish a base for a new plant near Trujillo in northern Peru.

Gold Mountain -- Elk gold mine, British Columbia, Canada

At the end of the third quarter of 2024, Silver Crown received the $124,299 minimum royalty payment from Elk Gold Mining Corp. pursuant to the terms of the royalty agreement dated May 11, 2023. Cash payments delivered to Silver Crown pursuant to the terms of the royalty agreement now total $216,296.

Gold Mountain encountered various financial challenges that reflected continuing operational issues, including commissioning difficulties and delays that impacted production levels at the Elk mine. These challenges stemmed from grade control and sampling inefficiencies during ramp-up, resulting in lower-than-forecast ore production. To address these challenges, the company implemented a series of financial restructuring initiatives that included issuing additional common shares, converting secured debt, raising additional capital by way of a convertible debenture and restructuring secured obligations to improve its financial position.

Winter operations commenced in late November of 2024, with a planned return to normal operations by late February. The first phase of infill drilling, focused on the east bench, has been completed, supported by phase 1 financing for exploration drilling. Currently, mining is focused on the east face of Pit 1, targeting the 1300 series vein system at surface. Construction of a new crushing and ore sorting system is set to begin by the end of the month, with the sorting system expected to significantly improve grades.

Pilar Gold Inc. -- PGDM mine, Goias, Brazil

The restart of commercial production at the PGDM complex was delayed from third quarter 2024 to first quarter 2025. Accordingly, while Pilar de Goias Desenvolvimento Mineral Ltda. has acknowledged its obligation to make minimum royalty payments during third quarter 2024 and fourth quarter 2024, it has defaulted on its obligation to make its minimum royalty payment in the amount of $81,536.41 (U.S.) for the quarter ending Sept. 30, 2024, in accordance with the terms of the amended and restated royalty agreement dated April 26, 2024, between Silver Crown and Pilar. The company had previously agreed to forbear on enforcement action under the A&R royalty agreement pursuant to a letter forbearance agreement whereby Pilar agreed to release the $100,000 contained in a segregated cash account to the company and pay the balance of the royalty payment for the third quarter of 2024 and replenish the segregated cash account no later than Dec. 31, 2024. However, Pilar failed to pay the balance of the royalty payment for the third quarter of 2024 and failed to replenish the segregated cash account on Dec. 31, 2024.

Silver Crown will work in good faith with Pilar to cure the continuing default and provide a further update to the market as soon as possible.

PPX Mining Corp. -- Igor 4 project, Peru

During the fourth quarter in 2024, Silver Crown announced the signing of a definitive royalty agreement for up to 15 per cent of the cash equivalent of silver produced from the Igor 4 project in Peru for an aggregate of $2.5-million (U.S.) in cash. The first tranche of $1.0-million (U.S.) is to be paid on closing, which is expected to occur in early 2025, with the second tranche of $1.5-million (U.S.) to be paid within six months of closing. The royalty will be payable immediately based on current operations at the project, and, beginning on and from the earlier of Oct. 1, 2025, and the start-up of metallurgical operations at the 250-tonne-per-day carbon-in-leach and flotation plant currently under construction, will provide for minimum deliveries of the cash equivalent of 14,062.5 ounces of silver per quarter up to a total of 225,000 ounces. Upon the closing of the second tranche, and upon the delivery of the cash equivalent of an aggregate of 225,000 ounces of silver to Silver Crown, the royalty will automatically terminate. PPX intends to use the proceeds from the sale of the royalty together with other sources of financing to complete the construction of the beneficiation plan.

Peter Bures, Silver Crown's chief executive officer, commented: "We are very pleased to continue our collaboration with PPX and are excited about the opportunities the new year will bring. We have great faith in the company as skilled operators and are happy to support them in achieving their production milestones. We continue to be encouraged with progress at GMTN. Although we are disappointed by the non-payment of the PDGM royalty, we note the minimal impact (approximately $14,000) to Silver Crown's revenues to date as we have set up internal protection against such an eventuality. In the meantime, we have been able to identify numerous opportunities to grow our revenue and will continue to advance such opportunities."

About Silver Crown Royalties Inc.

Founded by industry veterans, Silver Crown is a publicly traded, silver royalty company. Silver Crown currently has four silver royalties of which three are revenue generating. Its business model presents investors with precious metal exposure, allowing for a natural hedge against currency devaluation, while minimizing the negative impact of cost inflation associated with production. Silver Crown endeavours to minimize the economic impact on mining projects while maximizing returns for shareholders.

We seek Safe Harbor.