Finlay Minerals Enters into Earn-In Agreements with Freeport for its PIL &

“At the time we acquired the Seymour Lake lithium royalty, the project only had a historical JORC resource and minimal metallurgical studies completed. Since then, Green Technology Metals has reported a Preliminary Economic Assessment(” PEA“) and a resource upgrade, and now is planning to complete a Feasibility Study (“FS”) in 2026 to support potential production as early as 2027. Further details are available on its website. Importantly, remember that a royalty’s expected annual revenue can be calculated simply by taking the royalty rate (1.5% in this case) and multiplying it by the planned production profile by the metal (lithium) price.

“At the time of our Battery Hill royalty acquisition, the underlying project had only a historical resource estimate. Today, metallurgy has been well advanced, the resource has been upgraded, and a PEA has been completed. Furthermore, Eric Sprott recently funded project operator Manganese X Energy Corp. for the completion of a Prefeasibility Study(” PFS“). And today, we are reporting on additional drill results to support the upcoming PFS.

“Electric Royalties likewise acquired the Mont Sorcier vanadium royalty at a time when it only had a resource estimate in place. Today, operator Cerrado Gold Inc. has successfully completed further metallurgical testing in partnership with Glencore and reported that it is presently on track to complete an FS in Q1 2026.

“The Authier lithium royalty is set to be integrated into the already producing North American Lithium (“NAL”) mine operated by Sayona Mining Limited, which will soon complete its merger with Piedmont Lithium Inc. Upon completion, and as outlined in the NAL’s FS, Authier’s integration could add to Electric Royalties’ cash flow in the near term.

“The Graphite Bull graphite royalty was a secondary asset when we acquired it in a package with our Graphmada royalty; however, there has been significant progress at this project over the last 18 months and today we are reporting that operator Buxton Resources has completed an updated resource estimate and is expecting results soon from metallurgical testwork to help inform its planned PFS.

“Lastly, our Zonia copper royalty, which we believe is one of the top copper oxide projects in North America, is currently in the process of being acquired by a European group that has announced plans to aggressively advance it to production. As operator World Copper Ltd. reported last fall, the resource nearly doubled at Zonia¹.”

Highlights since the Company’s previous update include:

• Seymour Lake Lithium Project (1.5% Net Smelter Royalty) -On February 21, 2025, Green Technology Metals Limited (ASX:GT1) (“Green Technology Metals”) announced an updated PEA for the Seymour Lake Project in Ontario, Canada². It previously published technical studies in December 2023 describing a plan for the combined development of the Seymour Lake Project and the Root Project (the latter of which Electric Royalties does not hold a royalty interest). The…