News release
Summit Royalties Ltd.
One First Canadian Place
100 King Street West, Suite 3400
Toronto, ON M5X 1A4
summit-royalties.com
SUMMIT ROYALTIES ANNOUNCES AGREEMENT TO ACQUIRE ROYALTY ON
NEWMONT'S SADDLE NORTH DEPOSIT
Toronto, Ontario, March 12, 2026 – Summit Royalties Ltd. (TSXV: SUM, OTCQB: SUMMF) (the "Corporation"
or "Summit") is pleased to announce that i t has entered into an agreement to acquire a 1.0% net smelter
return ("NSR") royalty on the Saddle North deposit ( "Saddle North ") owned by Newmont Corporation
("Newmont") for consideration of C$5 million paid in shares of Summit ("Common Shares"). The acquisition
is subject to conditions precedent which are customary for a transaction of this nature. Subject to
satisfaction of conditions precedents, Summit expects to complete the acquisition in the near future .
"We are excited to announce th is proposed acquisition of a large, high -quality royalty on Newmont 's
Saddle North project," commented Drew Clark, President and CEO of Summit. "The acquisition of the
Saddle North royalty is highly accretive on a net asset value per share basis and provides exposure to a
large gold -copper deposit under the stewardship of the world' s largest gold producer. Having royalty
coverage on a porphyry target that boasts nearly 9 Moz of gold and 4.8 Blbs of copper supports our
mandate of providing Summit shareholders with high -quality precious metals exposure, and we are
excited to have Newmont as the operator of the underlying asset as we continue to build our company
on an accretive per-share basis."
Transaction Key Terms
• Royalty Interest: 1% NSR royalty on the Saddle North deposit
• Owner/Operator: Saddle North is owned by Newmont Corporation
• Consideration: C$5 million, to be paid in 2,832,861 Common Shares at a deemed price of $1.765 per
Common Share, being the 20-day weighted average price of the Common Shares as of the date of
the royalty purchase agreement for the NSR
• Buyback Option: Newmont may repurchase 50% of the NSR royalty for C$750,000 at any time
during the five -year period commencing on the date Saddle North is put into commercial
production
• Mineral Resource: The Saddle North Technical Report (as defined herein) reported indicated
resources containing approximately 3.47 Moz Au and 1.81 Blbs Cu and inferred resources containing
approximately 5.46 Moz Au and 2.98 Blbs Cu(1)
Saddle North is a gold -rich copper porphyry deposit located in the Golden Triangle in northwest British
Columbia, Canada. Newmont acquired Saddle North in 2021, prior to which Saddle North was owned by
GT Gold Corp., which published a maiden mineral resource estimate for the project in 2020 (see Saddle
North Technical Report (as defined herein)). The maiden mineral resource estimate in the Saddle North
Technical Report includes 1.81 Blbs of copper and 3.47 Moz of gold contained in indicated mineral resource
category, and 2.98 Blbs of copper and 5.46 Moz of gold contained in the inferred mineral resource category.
Mineralization at Saddle North remains open at depth and to the northwest and southeast, while
additional upside potential exists from near-mine exploration success.(1)
Saddle North is located in a top -tier mining jurisdiction in the Golden Triangle , with strong access to
existing infrastructure, power, and a capable workforce. (1) Saddle North is situated near the Red Chris mine,
which is currently operated by Newmont.
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Saddle North Resources(1)
Grade Contained
Tonnes Cu Au Ag Cu Au Ag
Category (Mt) (%) (g/t) (g/t) (Mlbs) (Koz) (Koz)
O/P Indicated 217 0.25% 0.29 0.65 1,177 2,014 4,550
Inferred 254 0.22% 0.24 0.53 1,232 1,956 4,350
Total 471 0.23% 0.26 0.59 2,409 3,970 8,900
U/G Indicated 81 0.35% 0.56 1.16 635 1,457 3,030
Inferred 289 0.27% 0.38 0.78 1,750 3,499 7,290
Total 370 0.29% 0.42 0.87 2,385 4,956 10,320
Total Indicated 298 0.28% 0.36 0.79 1,809 3,471 7,580
Inferred 543 0.25% 0.31 0.67 2,982 5,455 11,640
Total 841 0.26% 0.33 0.71 4,791 8,926 19,220
Notes:
(1) Scientific and technical information regarding Saddle North in this news release has been derived from, and
is supported by, the technical report titled "NI 43 -101 Technical Report on the Saddle North Copper -Gold
Project, Tatogga Property" dated August 20, 2020 (with an effective date of July 6, 2020), which was prepared
for GT Gold Corp. by Richard Flynn, P.Geo, Next Mine Consulting (the "Saddle North Technical Report"). Readers
are encouraged to review the full text of the Saddle North Technical Report for the assumptions, qualifications
and limitations contained therein, which is available on SEDAR+ ( www.sedarplus.ca) under GT Gold Corp.'s
issuer profile.
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About Summit Royalties Ltd.
Summit Royalties Ltd. is a precious metals royalty and streaming company. Its current portfolio is anchored
by cash- flowing production with additional royalties on advanced development - and exploration -stage
properties. Summit's mandate is to build its portfolio on a disciplined, per- share accretive basis through
royalty and streaming acquisitions that deliver high-quality precious metals exposure and long-term cash
flow growth. The Corporation has no debt and has sufficient cash on hand for future acquisitions. The
Corporation's registered office is located at One First Canadian Place, Suite 3400, Toronto, ON, M5X 1A4.
ON BEHALF OF THE BOARD OF DIRECTORS OF SUMMIT ROYALTIES LTD.
Drew Clark
President and Chief Executive Officer
Summit Royalties Ltd.
For more information, contact:
Connor Pugliese, Vice President, Corporate Development
+1 (289) 380-1960
Follow Summit Royalties:
Linkedin: https://www.linkedin.com/company/Summit-Royalties
X: https://x.com/SummitRoyalties
Technical and Third-Party Information
Information regarding Saddle North in this news release is based on information publicly disclosed by the
current or former owners or operators of Saddle North and information available in the public domain as
at the date hereof. Such information has not been independently verified by the Corporation. Although
the Corporation does not have any knowledge that such information may not be accurate, there can be
no assurance that such third-party information is complete or accurate.
Qualified Person
Scientific and technical information contained in this news release has been reviewed and approved by
Richard Breger, who is independent of the Corporation and a "qualified person" within the meaning of NI
43-101 – Standards of Disclosure for Mineral Projects.
Forward-looking Statements
Certain statements contained in this news release may be deemed "forward‐looking statements " within
the meaning of applicable Canadian securities laws. These forward‐looking statements, by their nature,
require the Corporation to make certain assumptions and necessarily involve known and unknown risks
and uncertainties that could cause actual res ults to differ materially from those expressed or implied in
these forward‐looking statements. Forward‐looking statements are not guarantees of performance.
Words such as " may", "will", "would", "could", "expect", "believe", "plan", "anticipate", "intend", "estimate",
"continue", or the negative or comparable terminology, as well as terms usually used in the future and
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the conditional, are intended to identify forward‐looking statements. Information contained in forward‐
looking statements, including with respect to, the completion of acquisition of the NSR royalty on timing
anticipated (or at all); the ability of Summit and the vendors to satisfy the conditions precedent to the
acquisition (if at all); the repurchase of Summit 's NSR royalty by Newmont and the corresponding
payment and reduction of the NSR royalty; the impact of acquiring the NSR royalty on Saddle North on
Summit's portfolio of precious metals royalties and stream ; the commercial production of Saddle North;
the mineral resource estimates for Saddle North; the Corporation 's ability to build its portfolio on a
disciplined, per-share accretive basis through royalty and streaming acquisitions that deliver high-quality
precious metals exposure and long -term cash flow growth ; and the Corporation having sufficient cash
on hand for future acquisitions , are based upon certain material assumptions that were applied in
drawing a conclusion or making a forecast or projection, including management 's perceptions of
historical trends, current conditions and expected future developments, current information available to
the management of the Corporation, as well as other considerations that are believed to be appropriate
in the circumstances. The Corporation considers its assumptions to be reasonable based on information
currently available, but cautions the reader that its assumptions regarding future events, many of which
are beyond the control of the Corporation, may ultimately prove to be incorrect since they are subject to
risks and uncertainties that affect the Corporation and its businesses.
For additional information with respect to these and other factors and assumptions underlying the
forward‐looking statements made in this news release concerning the Corporation, see the section
entitled "Risks and Uncertainties " in the most recent management discussion and analysis of Summit
which is filed with the Canadian securities commissions and available electronically under the
Corporation's issuer profile on SEDAR+ ( www.sedarplus.ca). In addition, in respect of the scientific and
technical information derived from the Saddle North Technical Report, such information is subject to the
parameters, assumptions and qualifications as outlined in the Saddle North Technical Report. The
forward‐ looking statements set forth herein concerning the Corporation reflect management 's
expectations as at the date of this news release and are subject to change after such date. The
Corporation disclaims any intention or obligation to update or revise any forward‐looking statements,
whether as a result of new information, future events or otherwise, other than as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
news release. No stock exchange, securities commission or other regulatory authority has approved
or disapproved the information contained herein.