Electric Royalties Ltd. press release

Electric Royalties Reports Operating Growth and Broad Advancement Across Critical Metals Royalty Portfolio

2026-08-27

TSXV - TSX Venture Exchange · Graphite · Zinc · Tin · Lithium · Rubidium · Nickel · Vanadium · Iron · Manganese · Copper · Cobalt · Gold · Silver · Canada · Corporate Finance

Punitaqui volumes and margins improve; Zonia drilling and financing advance alongside technical, metallurgical, exploration and ownership milestones across the portfolio

VANCOUVER, BC / ACCESS Newswire/ August 27, 2026 / Electric Royalties Ltd. (TSXV:ELEC)(OTCQB:ELECF) ("Electric Royalties" or the "Company")is pleased to provide an update on key assets within its royalty portfolio, based on public disclosures made by project operators between March 26, 2026, and August 25, 2026.

"The period since our March update has delivered tangible operating and development progress across the portfolio: Punitaqui reported higher concentrate sales and substantially improved margins, while Zonia attracted more than C$23 million of new financing and drilling continued to confirm broad oxide-copper mineralization, including beyond the PEA pit design; Middle Tennessee transitioned to Korea Zinc ownership; Sleitat attracted a proposed new acquirer following an on-site and historical-core review, and a filed plan scheduled new field work at Cancet. Battery Hill, Seymour, Kenbridge, Mont Sorcier, Millennium, Surge and Chubb also advanced through operator-funded technical, exploration or strategic work programs. This expanded portfolio-wide review reinforces the breadth of progress being funded and executed by project operators, preserving the core value of our royalty model."

Brendan Yurik, CEO, Electric Royalties Ltd.

Highlights

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Punitaqui - Battery Mineral Resources reported first-quarter 2026 copper-concentrate sales of 5,581 dry metric tonnes, up 26% year over year, with C$21.3 million of concentrate revenue and a 49% gross margin at the mine.

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Zonia - Edge Copper closed financings for approximately C$23.0 million in gross proceeds and reported broad oxide-copper intercepts from 27 holes, including mineralization beyond the 2024 PEA design pit; an updated mineral resource estimate is targeted for Q4 2026.

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Battery Hill and Seymour - Manganese X received a U.S. patent and advanced to final-phase battery qualification, while Green Technology Metals recapitalized, resumed definitive-feasibility-study work and received a C$500,000 non-repayable provincial grant.

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Middle Tennessee - Nyrstar completed the sale of its U.S. assets, including the Middle Tennessee mining complex, to Korea Zinc on April 1, 2026.

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Kenbridge and Mont Sorcier - Kenbridge entered pre-feasibility gap analysis and completed new geophysical surveys, while Mont Sorcier advanced an optimized 8 Mtpa, two-stage development concept through its bankable feasibility work.

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Sleitat and Cancet - Noronex secured an exclusive option over Sleitat after a June project and historical-core review; LIFT completed its acquisition of Winsome and filed a 2026 field-work plan for Cancet.

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Millennium and Surge - Metal Bank completed government-supported graphite work at Millennium and reported initial flotation results; while Xplore commenced expanded high-resolution aeromagnetic surveying at Surge.

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Chubb, Cobalt Ridge and Mt Dorothy - Burley renewed its technical and strategic review of Chubb; Austral and Hammer executed a conditional transaction that would move Hammer's interests in Cobalt Ridge and Mt Dorothy into Austral's Queensland copper platform.

Portfolio Asset Updates

Punitaqui Copper Mine

0.75% Gross Revenue Royalty | Coquimbo Region, Chile | Operator: Battery Mineral Resources Corp. (BMR)

On June 3, 2026, Battery Mineral Resources Corp. ("BMR") reported results for the three months ended March 31, 2026. During the quarter, Punitaqui sold 5,581 dry metric tonnes of copper concentrate, compared with 4,416 dry metric tonnes in the prior-year period, an increase of 26%. The average realized copper price increased to US$5.83 per pound from US$4.19 per pound.

BMR reported Punitaqui copper-concentrate revenue of C$21.3 million, up 58% from C$13.5 million in the first quarter of 2025. Gross profit from Punitaqui increased to C$10.3 million from C$3.4 million, and gross margin increased to 49% from 25%. BMR attributed the improvement to higher sales volumes and realized prices, increased throughput and improved operating performance.

BMR also advanced the Cinabrio Norte underground operation, completed raise-bore drilling for a ventilation shaft, progressed development at San Andrés and Cinabrio, and continued planning for Dalmacia as a potential fourth underground operation. During April and May, BMR raised aggregate gross proceeds of approximately C$2.76 million, which it stated would support Punitaqui plant operations, planned underground development and working capital.

The operator's revenue, gross profit and margin are not proxies for Electric Royalties' royalty revenue, which is determined by the terms of the applicable royalty agreement.

Sources: Q1 2026 MD&A• Q1 results release• May 29 financing close

Electric Royalties relies on information publicly disclosed by Battery Mineral Resources Corp. (BMR) and has not been independently verified.

Zonia Copper Oxide Project

0.5% Gross Revenue Royalty | Arizona, United States | Operator: Edge Copper Corporation (EDCU)

Edge Copper Corporation ("Edge Copper") reported results from 27 holes in its ongoing 54,000-foot drilling program at Zonia between May and July 2026. The results confirmed broad, near-surface oxide-copper mineralization within and adjacent to the 2024 preliminary economic assessment ("PEA") design pit and, in several areas, below the modeled base of oxide mineralization or beyond the pit limits.

Among the results, hole ZND0028 intersected 290 feet grading 0.40% total copper from 441 feet, including 50 feet grading 1.69% total copper. Edge Copper reported that this interval was drilled beyond the northwestern end of the PEA design pit and below the modeled base of oxide mineralization. Other reported intervals included 697 feet grading 0.28% total copper in ZND0027 and 544 feet grading 0.27% total copper from surface in ZND0049. Readers should refer to Edge Copper's releases for complete results, down-hole lengths, estimated true widths and QA/QC disclosure.

Edge Copper stated that the program has transitioned from infill drilling to testing deposit extents and step-out targets, with the mineralized footprint remaining incompletely drill-defined. The operator is targeting an updated mineral resource estimate in the fourth quarter of 2026. Edge Copper's internal objective of testing the potential for approximately 50% resource growth is conceptual; it is not a mineral resource estimate and there is no certainty that further work will achieve that objective.

On June 9, 2026, Edge Copper closed a public offering and concurrent private placement for aggregate gross proceeds of approximately C$23.04 million. It stated that net proceeds would be used primarily to advance exploration and development of Zonia.

Sources: May 19 drilling update• June 9 financing close• July 8 drilling update• July 29 drilling update

Electric Royalties relies on information publicly disclosed by Edge Copper Corporation (EDCU) and has not been independently verified. The 2024 PEA includes Inferred Mineral Resources that are considered too speculative geologically to have economic considerations applied to them, and there is no certainty that its results will be realized.

Battery Hill Manganese Project

2.0% Gross Metal Royalty | New Brunswick, Canada | Operator: Manganese X Energy Corp. (MN)

On April 15, 2026, Manganese X Energy Corp. ("Manganese X") announced that the U.S. Patent and Trademark Office had granted a patent covering its proprietary process for producing high-purity manganese sulphate monohydrate from manganese-bearing feedstock. The operator stated that related patent applications were also being pursued in Canada, Mexico and Australia.

On June 16, 2026, Manganese X announced that Battery Hill high-purity manganese material had advanced to Phase 3, the final stage of C4V's qualification program, following completion of initial performance validation. Phase 3 consists of multi-layer, full pouch-cell testing and was expected by the operator to take approximately six months. Manganese X reported that Phase 2 test cells retained approximately 70% capacity after 4,600 cycles.

In June, Manganese X also received approximately C$1.71 million from the early exercise of warrants by an Eric Sprott-controlled corporation. The operator stated that the proceeds would support Battery Hill as it advances its pre-feasibility study. Successful testing or qualification does not constitute a purchase order, offtake agreement or commercial commitment.

Sources: April 15 U.S. patent• June 16 C4V qualification update• June 4 warrant exercise

Electric Royalties relies on information publicly disclosed by Manganese X Energy Corp. (MN) and has not been independently verified.

Seymour Lake Lithium Project

1.5% Net Smelter Royalty | Ontario, Canada | Operator: Green Technology Metals Limited (GT1)

Green Technology Metals Limited ("GT1") completed an A$11.0 million recapitalization during the June 2026 quarter. GT1 stated that the funding provides the capital required to complete the definitive feasibility study ("DFS"), advance permitting and approvals, and progress project financing activities toward a future final investment decision.

During the quarter, GT1 reported that DFS workstreams had resumed and that its study team and consultants were advancing the technical program. The operator's current target is to complete the DFS in the fourth quarter of 2026. GT1 also stated that the Mine Closure Plan submission is targeted for November 2026 and that an Impact Benefit Agreement is targeted for the second half of 2026. These dates are operator targets and remain subject to change.

On July 8, 2026, GT1 was awarded up to C$500,000 in non-repayable funding through Ontario's Critical Minerals Innovation Fund and reported receipt of the first C$200,000. The funding supports testwork on process waste streams, including potential recovery of tantalum and rubidium and environmental optimization. These potential by-products are not currently included in Seymour's Mineral Reserves or production plan.

On August 4, 2026, GT1 announced that it had been accepted as a member of the U.S. Defense Industrial Base Consortium. Membership may expand GT1's access to industry networks and future opportunities, but does not represent a funding award, procurement contract, or offtake commitment.

Sources: June quarter activities report• August 4 DIBC membership

Electric Royalties relies on information publicly disclosed by Green Technology Metals Limited (GT1) and has not been independently verified.

Middle Tennessee Zinc Operations

25% of a sliding-scale 1.0%-1.4% Gross Revenue Royalty | Tennessee, United States | Operator: Korea Zinc Co., Ltd.

On April 2, 2026, Nyrstar announced completion of the sale of its U.S. operations to Korea Zinc. The transaction closed on April 1 and included the East Tennessee and Middle Tennessee mining complexes and the Clarksville zinc smelter.

Completion converts the proposed transaction described in Electric Royalties' March 26, 2026 update into a closed ownership transfer and places Middle Tennessee within Korea Zinc's planned integrated U.S. mine-to-metals platform. The Clarksville smelter is the only primary zinc smelter in the United States.

Neither Nyrstar nor Korea Zinc has disclosed a restart decision or timetable for the Middle Tennessee mines in the sources reviewed for this update. Any restart, expansion or related royalty revenue remains subject to future technical, commercial, regulatory and financing decisions by the owner.

Sources: April 2 transaction completion

Electric Royalties relies on information publicly disclosed by Korea Zinc Co., Ltd. and has not been independently verified. The completed ownership transfer does not by itself constitute a mine-restart decision.

Kenbridge Nickel-Copper-Cobalt Project

0.5% Gross Revenue Royalty | Ontario, Canada | Operator: Tartisan Nickel Corp. (TN)

On June 25, 2026, Tartisan Nickel Corp. ("Tartisan") retained Tetra Tech Canada Inc. to complete a Goal-Actual-Plan (GAP) analysis of the 2022 preliminary economic assessment for Kenbridge. The review is intended to identify the technical, commercial and compliance work required to advance the project to a pre-feasibility study and to develop a staged work plan, schedule and cost estimate.

On July 9, 2026, Tartisan reported completion of an airborne MobileMT electromagnetic survey over approximately 47 square kilometres and borehole electromagnetic surveys on selected recent drill holes. Interpretation is underway to identify and prioritize conductive targets for future drilling.

The engagement and geophysical programs represent preparatory steps; Tartisan has not yet disclosed a completed pre-feasibility study, development decision or assured timetable for either milestone.

Sources: June 25 PFS gap analysis• July 9 geophysical surveys

Electric Royalties relies on information publicly disclosed by Tartisan Nickel Corp. (TN) and has not been independently verified.

Mont Sorcier Iron and Vanadium Project

1.0% Gross Metal Vanadium Royalty | Québec, Canada | Operator: Cerrado Gold Inc. (CERT)

Cerrado Gold Inc. ("Cerrado") continued bankable feasibility work at Mont Sorcier during the period and broadened the study to evaluate an optimized 8 million-tonne-per-year concentrate operation, compared with the 5 million-tonne-per-year case in the 2022 PEA. The current concept contemplates two 4 million-tonne-per-year phases, with the second phase beginning approximately three years after initial production.

On July 15, 2026, Cerrado extended the feasibility-study schedule to incorporate identified optimization opportunities. This includes work to reduce the strip ratio, optimize the tailings-storage concept, refine capital and operating costs, and assess product specifications. Cerrado also planned definition drilling to test the potential inclusion of shallower material east of the existing pit.

In its August 18, 2026 quarterly update, Cerrado stated that the bankable feasibility study is now targeted for completion in the first half of 2027, with the environmental and social impact assessment targeted for the second quarter of 2027, permitting around year-end 2028 and construction around the first quarter of 2029. These dates are operator expectations and remain subject to technical results, approvals, financing and other development risks.

Electric Royalties' royalty is a gross metal royalty on vanadium. Progress or future revenue associated with the iron concentrate does not necessarily translate directly into royalty revenue for Electric Royalties.

Sources: July 15 feasibility timing update• August 18 Q2 results

Electric Royalties relies on information publicly disclosed by Cerrado Gold Inc. (CERT) and has not been independently verified. The 2022 PEA includes Inferred Mineral Resources that are considered too speculative geologically to have economic considerations applied to them, and there is no certainty that its results will be realized.

Millennium Copper-Cobalt-Gold-Graphite Project

0.5% Gross Revenue Royalty | Queensland, Australia | Operator: Metal Bank Limited (MBK)

During the quarter ended June 30, 2026, Metal Bank Limited ("Metal Bank") completed the approved work program under a Queensland Government Collaborative Exploration Initiative grant. The program included reporting on diamond drilling and assays previously announced in February 2026, together with initial petrological and metallurgical work intended to improve understanding of the distribution, continuity and characteristics of graphite mineralization adjacent to the existing copper-cobalt-gold resource.

Metal Bank reported that first-pass bench flotation testwork on representative drill-core composites produced a fine graphite concentrate grading up to 73.5% total graphitic carbon at 70.6% recovery. The operator identified several potential testwork pathways to improve grade and recovery. These preliminary results do not establish a commercial product specification, graphite mineral resource, economic viability or a development decision.

Metal Bank also continued to progress an additional mining-lease application and an exploration-permit application around its five existing Millennium mining leases. The proposed areas include the approximately 200-metre by 200-metre Gap Zone between existing leases and ground west of the current leases that Metal Bank intends to test for possible graphite extensions and copper-cobalt-gold resource growth.

Sources: April 23 operational update• June quarter activities report

Electric Royalties relies on information publicly disclosed by Metal Bank Limited (MBK) and has not been independently verified. Metal Bank's graphite work is preliminary and no graphite Mineral Resource has been defined at Millennium.

Sleitat Tin-Tungsten-Silver Project

1.0% Net Smelter Royalty | Alaska, United States | Proposed acquirer: Noronex Limited (NRX)

On July 13, 2026, Noronex Limited ("Noronex") announced a binding heads of agreement granting it an exclusive 60-day option to acquire all of Alaskan Critical Minerals Pty Ltd. That company holds an option to acquire Strongbow Alaska Inc., the owner of the 33 State of Alaska mining claims comprising Sleitat. Noronex reported that the claims cover approximately 2,137 hectares and remain subject to three pre-existing net smelter royalties aggregating 3.0%, including a 1.0% NSR.

Noronex personnel visited the project and inspected preserved drill core at the Alaska Geological Materials Center during June 2026. The operator reported that visual examination confirmed cassiterite-bearing greisen consistent with historical records and that handheld XRF screening returned qualitative elevated-tin responses. Noronex stated that the handheld readings were not used to report exploration results.

The July filing restated a historical, non-JORC U.S. Bureau of Mines estimate of 25.9 million tonnes grading 0.224% to 0.37% tin, 0.04% tungsten and 17 grams per tonne silver. It also highlighted historical down-hole intervals including 29.1 metres grading 1.56% tin and 28 grams per tonne silver from 20.4 metres, including 3.1 metres grading 12.55% tin and 198 grams per tonne silver, and 47.9 metres grading 0.40% tin from 3 metres, including 9.45 metres grading 2.99% tin and 124 grams per tonne silver. Reported intervals are down-hole widths and true widths are unknown.

Noronex outlined next steps including legal and technical due diligence, compilation and validation of historical data, systematic core review, planning and permitting for mapping, rock-chip sampling and geophysics, evaluation of an updated JORC Exploration Target and design of follow-up resource-definition drilling. Completion of the proposed acquisition remains subject to option exercise, payments and approvals.

Sources: July 13 proposed acquisition and technical update• Noronex ASX announcements

Electric Royalties relies on information publicly disclosed by Noronex Limited (NRX) and has not been independently. The historical estimate predates the JORC Code (2012), has not been classified by a Competent Person as a current Mineral Resource or Ore Reserve and should not be relied upon as such. There is no certainty that further work will define a Mineral Resource or that the proposed acquisition will be completed.

Cancet Lithium Project

1.0% Net Smelter Royalty | Québec, Canada | Operator: Li-FT Power Ltd. (LIFT)(LFT)

On May 21, 2026, Li-FT Power Ltd. ("LIFT") completed its acquisition of Winsome Resources Limited. LIFT's current project directory lists Cancet among its Québec exploration properties, completing the change in public-company ownership of the project following court and securityholder approval of the Winsome transaction.

A 2026 annual exploration work plan linked from the operator's Cancet project page and signed June 2, 2026 schedules field work from August 1 through October 31, 2026. The plan identifies outcrop examination, rock sampling, geological work and a geochemical survey, using helicopter and truck support and a planned field team of 12 to 15 geologists and technicians.