Electric Royalties Provides Update on Critical Metals Royalty Portfolio
Electric Royalties Provides Update on Critical
Metals Royalty Portfolio
VANCOUVER, BRITISH COLUMBIA – March 26, 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
December 8, 2025, and March 25, 2026.
“With copper royalty revenue from our Chilean royalty ramping up and with a small equity raise late
last year, the Company entered 2026 on stable footing and is turning our focus to reviewing new
strategic acquisition opportunities,” said Electric Royalties CEO Brendan Yurik. “Meanwhile, our
existing portfolio of 43 royalties on battery and critical metals continues to mature.”
The following is a summary of the highlights described below:
• Updated PEA on Zonia Copper Oxide Project, wherein Edge Copper has boosted the annual
copper production plan by 50% to 75mlbs of copper annually. At US$5 copper, our expected
annual royalty revenue would be approximately US$1.875 million a year.
• Continued progress at the Punitaqui Copper Mine in Chile, including a significant raise of up
to $25 million to expedite underground development and advance exploration.
• Korea Zinc is acquiring the Middle Tennessee Zinc Mine as part of an overall acquisition and
investment package in the area totaling US$7.4 billion with plans to re-start the mine subject
to our gross royalty.
• Pre-feasibility study (the “PFS”) officially underway at the Battery Hill Manganese Project,
with ongoing drilling and metallurgical testing as part of finalizing the report.
• Feasibility study due out in Q2 2026 on the Mont Sorcier Iron and Vanadium Project , where
Glencore is a partner and a significant portion of project financing has been already indicated
from the UK Export Import Bank.
• Potential for a nearer term cash flow from copper assets as Metals Bank moves ahead on
Millennium Copper-Cobalt Project by signing an MOU with a nearby group to toll mill their
ore at a nearby processing plant.
• Phase 2 scoping study underway at the Graphmada Graphite Project to restart production at
a higher production profile than previous understood and working to secure government or
strategic funding to return Graphmada to production.
• Continued support from the Canadian Government as they extend the $100 million Letter of
Interest (“LOI”) for project financing at the Seymour Lake Lithium Project, which also has a
feasibility study underway.
Portfolio Asset Updates
• Zonia Copper Oxide Project ( 0.5% Gross Revenue Royalty) - On January 22, 2026, Edge
Copper Corporation (TSX.V: EDCU) (“ Edge Copper”) announced the commencement of a
drilling program at the Zonia Copper Project, with two diamond drill rigs mobilized on site.
The program includes approximately 53,000 feet of drilling across 78 holes targeting
resource conversion drilling, step -out explora tion, and geotechnical drilling supporting
project engineering.
On March 12, 2026, Edge Copper released results of a Preliminary Economic Assessment
(“PEA”) for the Zonia Copper Project. The PEA is based in part on inferred mineral resources.
According to Edge Copper, the PEA highlights include:
• After-tax NPV (8%) of approximately US$488 million
• After-tax IRR of approximately 23.4%
The PEA envisions an open pit mining and heap leach solvent extraction (SX) electrowinning
(EW) processing operation. Mining operations are based on large scale conventional drill,
blast, load, and haul open pit mining methods. A total of 354 million tons of material is
expected to be mined, which consists of 218 million tons of resource and 136 million tons of
waste, for an average strip ratio of 0.6 (waste to resource). With an average mined copper
grade of 0.25%, total contained copper mined is expected to be 1.1 billion pounds of copper.
Edge Copper intends to incorporate the drill results from the exploration program currently
underway into an updated Mineral Resource Estimate in the fourth quarter of 2026.
Concurrently Edge Copper will continue to advance metallurgical testwork, engineering,
geotechnical and hydrogeological testing, and environmental and baseline monitoring. Edge
Copper then plans on completing a prefeasibility study in 2027.
On March 18, 2026, Edge Copper announced that it filed the NI 43-101 Preliminary Economic
Assessment technical report for the Zonia Copper Project on SEDAR+, further to its March
12, 2026 PEA news release.
The Preliminary Economic Assessment referenced herein is preliminary in nature and
includes inferred mineral resources that are considered too speculative geologically to have
economic considerations applied to them that would enable them to be categorized as
mineral reserves. There is no certainty that the results of the PEA will be realized.
Sources:
o https://edgecopper.com/news/edge-copper-mobilizes-drill-rigs-and-commences-
53000-foot-drilling-program-at-zonia/
o https://edgecopper.com/news/edge-copper-announces-positive-pea-results-for-
its-zonia-copper-project/
o https://edgecopper.com/news/edge-copper-files-pea-technical-report-for-the-
zonia-copper-project/
Electric Royalties is relying on the information provided by Edge Copper.
• Seymour Lake Lithium Project (1.5% Net Smelter Royalty) - On January 8, 2026, Green
Technology Metals Limited (ASX:GT1) (“Green Technology Metals”) announced that Export
Development Canada (“ EDC”) extended its LOI for potential financing support of up to
C$100 million for development of the Seymour Lake Lithium Project. According to Green
Technology Metals, the LOI remains valid through December 2026.
Source:
o https://wcsecure.weblink.com.au/pdf/GT1/03044430.pdf
Electric Royalties is relying on the information provided by Green Technology Metals.
• Battery Hill Manganese Project (2.0% Gross Metal Royalty) - On February 10, 2026,
Manganese X Energy Corp. (TSXV:MN) (“ Manganese X”) announced that the South African
Patent Office granted Manganese X a patent covering its proprietary purification process for
manganese sulfate used in battery-grade applications. Manganese X has also filed for patent
protection in Canada, the United States, Mexico and Australia.
On February 27, 2026, Manganese X provided an update on the ongoing PFS, reporting
continued geotechnical drilling and metallurgical optimization work. ABH Engineering Inc.,
the lead consulting firm engaged for the Manganese X ’s PFS, has initiated preliminary
engineering activities, including the establishment of the project to include critical path,
execution of schedule, and organizational framework.
In support of continued mine plan optimization, and in collaboration with GEMTEC
Consulting Engineers and Scientists Limited, Manganese X has commenced a targeted
geotechnical drilling and testing program consisting of three (3) drill holes totaling
approximately 550 metres. The objective of this program is to obtain site -specific
geotechnical data to support associated infrastructure planning as part of the PFS.
The program is designed to:
• Determine optimal pit slope angles for mine design
• Refine geotechnical input parameters for optimized pit wall stability
• Evaluate additional pit development requirements to accommodate processing
infrastructure and operational efficiencies
• Collect additional geotechnical and hydrogeological data to enhance the
understanding of site and pit hydrogeological conditions
The results of this program are expected to improve mine design confidence, optimize
material movement assumptions, and support the overall economic evaluation of the
Battery Hill Project within the updated PFS framework.
Sources:
o https://www.manganesexenergycorp.com/south-africa-patent-office-grants-
manganese-x-battery-grade-high-purity-processing-patent/
o https://www.manganesexenergycorp.com/manganese-x-pre-feasibility-update-
geotechnical-drilling-and-optimized-metallurgical-processing-initiatives/
Electric Royalties is relying on the information provided by Manganese X.
• Kenbridge Nickel Project (0.5% Gross Revenue Royalty) - On February 3, 2026, Tartisan
Nickel Corp. (CSE:TN) ("Tartisan") reported drill intersections including:
• 10.7 metres grading 1.58% Ni and 0.79% Cu
• Including 5.0 metres of 3.02% Ni and 1.48% Cu
On February 24, 2026, Tartisan reported that 3,350 metres of drilling had been completed
across multiple targets; Results show that both Zone A and Zone B were intersected
including 3.0 metres of 2.17% Ni and 1.45% Cu in Zone B.
On March 12, 2026, Tartisan announced additional drilling results including:
• 24.6 metres grading 0.71% Ni and 0.56% Cu
• Including 6.1 metres grading 1.17% Ni and 1.45% Cu
Sources:
o https://tartisannickel.com/en/tartisan-nickel-corp-intersects-10-7-metres-of-1-58-
ni-0-79-cu-including-5-0-metres-of-3-02-ni-1-48-cu-at-the-kenbridge-nickel-
copper-cobalt-project-northwestern-ontario/
o https://tartisannickel.com/en/tartisan-nickel-corp-intersects-3-0-metres-of-2-17-
ni-1-45-cu-at-the-kenbridge-nickel-copper-cobalt-project-northwestern-ontario/
o https://tartisannickel.com/en/tartisan-nickel-corp-intersects-24-6-metres-of-0-71-
ni-0-56-cu-including-6-1-metres-of-1-17-ni-1-45-cu-at-the-kenbridge-nickel-
copper-cobalt-project-northwestern-ontario/
Electric Royalties is relying on the information provided by Tartisan.
• Millennium Copper-Cobalt Project (0.5% Gross Revenue Royalty) - On February 13, 2026,
Metal Bank Limited (ASX:MBK) (“Metal Bank”) announced a Memorandum of Understanding
with Austral Resources to evaluate potential toll treatment of Millennium Project (the
“Millennium Project”) ore at the Rocklands processing facility.
• Provides the potential to significantly bolster the mill feed for Rocklands, ahead of
restart study phase.
• The Millennium Project has the potential to commence mining within 2 years, which
sits neatly against the proposed timing for a re -start of Rocklands and is located
within 20km of the facility.
• The MoU is non-exclusive and non-binding; any future agreement remains subject to
technical, commercial and regulatory due diligence.
On February 18, 2026, Metal Bank announced the submission of a new Mining Lease as well
as an Exploration Permit for Minerals (EPM) application covering the “Gap Zone,” an area
interpreted to host extensions of mineralization between existing mining leases.
On February 23, 2026, Metal Bank reported high -grade graphite results adjacent to the
Millennium Project copper-cobalt resource including:
• 13.1 metres at 12.23% Total Graphitic Carbon (TGC) from 1m in hole MI25DD03
• 14.3 metres at 8.68% TGC from surface in hole MI25DD04
• 30.85 metres at 14.11% TGC from 60.4m in hole MI25DD04
Sources:
o https://wcsecure.weblink.com.au/pdf/MBK/03056105.pdf
o https://wcsecure.weblink.com.au/pdf/MBK/03057777.pdf
o https://wcsecure.weblink.com.au/pdf/MBK/03059532.pdf
Electric Royalties is relying on the information provided by Metal Bank.
• Mont Sorcier Iron and Vanadium Project (1.0% Gross Metal Vanadium Royalty) - On
January 21, 2026, Cerrado Gold Inc. (TSXV:CERT) (“ Cerrado”) reported continued
advancement of the Mont Sorcier feasibility study. At the Mont Sorcier high -purity iron
project, all key workstreams continued to progress on the feasibility study, Cerrado
completed an infill drilling program to update sufficient mineral resources to the Proven and
Probable categories for an expanded production scenario. Over 17,000 metres were drill ed
with results to be incorporated into a new mineral reserve estimate to support the feasibility
study, which remains targeted for completion in Q2 2026. As noted in Cerrado’s November
10, 2025, press release, the study is now targeting an increased production rate of 8 MM tpa
of 67% iron concentrate in a 2-stage phased development approach.
The Bankable Feasibility Study aims to provide a detailed updated economic study on the
potential for the project, as highlighted in the previous 2022 NI 43-101 Preliminary Economic
Assessment ( the "Cerrado PEA") that delivered a project NPV8% of US$1.6 billion based
upon iron concentrates grading 65% iron. As highlighted previously, new test work has now
shown the ability to deliver a high-purity DRI-grade Iron concentrate product of over 67% iron,
enhancing th e project's position delivering a highly desired product to support growing
demand from the Green Steel transition.
Source:
o https://www.cerradogold.com/news-media/news-2026/cerrado-gold-announces-
q4-and-year-end-2025-production-resul2026-01-21-030501
Electric Royalties is relying on the information provided by Cerrado.
• Graphmada Graphite Mine (2.5% Net Smelter Royalty) (capped at $5 million) - On January
30, 2026, Greenwing Resources Ltd. (ASX:GW1) (“ Greenwing”) reported continued
advancement of Graphmada -related activities in its quarterly activities report. Greenwing
announced the commencement of a Stage 2 Scoping Study to assess restart and expansion
pathways, leveraging the existing mining lease, increased resource, installed infrastructure
and Stage 1 production experience. Greenwing also announced they h ave commenced
discussions with government agencies and potential strategic partners regarding pathways
for investment and collaboration at Graphmada.
Sources:
o https://api.investi.com.au/api/announcements/gw1/9a1149db-2b3.pdf
o https://api.investi.com.au/api/announcements/gw1/8387572a-9a7.pdf
Electric Royalties is relying on the information provided by Greenwing.
• Punitaqui Copper Mine (0.75% Gross Revenue Royalty) - During the period, Battery
Mineral Resources Corp. (TSXV:BMR) (“BMR”) announced several financing and corporate
updates including multiple shares for debt transactions in December and January.
On February 9, 2026, BMR announced a non-brokered private placement LIFE offering (the
“Offering”) for minimum gross proceeds of $10,000,000 and up to a maximum of
$25,000,000, from the sale of a minimum of 50,000,000 common shares of BMR and up to a
maximum of 125,000,000 common shares at a price of $0.20 per common share.
BMR intends to use the net proceeds of the Offering to advance processing plant operations
and planned underground development at BMR’s Punitaqui Mining Complex located in the
Coquimbo region of Chile, and for general working capital purposes. Details of the BMR's
intended use of proceeds from the Offering are more fully described in the LIFE o ffering
document.
Source:
o https://bmrcorp.com/news/battery-mineral-resources-corp-announces-life-
private-placement-offering/
Electric Royalties is relying on the information provided by BMR.
• Middle Tennessee Zinc Operations (25% of a sliding scale 1% to 1.4% Gross Revenue
Royalty) - On December 15, 2025, Nyrstar USA / Trafigura announced a proposed
transaction involving the sale of Nyrstar USA to Korea Zinc, including the East Tennessee
and Mid Tennessee mining complexes and the Clarksville zinc smelter. Under the terms of
the proposed transaction, Korea Zinc plans to acquire the fully permitted sites in the state
of Tennessee to develop a new state-of-the-art fully integrated large-scale smelting facility
in Clarksville, Tennessee.
The Clarksville smelter, operated by Nyrstar, is the sole primary zinc smelter in the U.S. and
has run for almost 50 years. Together with the associated East and Mid Tennessee mining
complexes, these assets represent a key domestic U.S. mine to metals valu e chain. The
operations benefit from a highly skilled workforce, favorable geological and operational
conditions, logistics accessibility, and relatively low electricity costs.
"This transaction would enable a secure and stable US zinc and zinc by -products supply for
the future," said Nyrstar CEO Guido Janssen. "Korea Zinc is a world leader in smelting
technology, and we are confident they will build on the strong foundations Nyrstar has laid in
the State of Tennessee."
The proposed transaction between Korea Zinc and Nyrstar is subject to certain conditions,
including regulatory approvals with the sale expected to close in the first half of 2026. Under
the terms of the proposed agreement, the Clarksville smelter’s zinc me tal production for
2026 would continue to be sold to Trafigura.
Source:
o https://www.nyrstar.com/resource-center/press-releases/proposed-sale-of-
nyrstar-usa-to-korea-zinc
Electric Royalties is relying on the information provided by Nyrstar.
• Penouta Mine Project (1.5% Gross Revenue Royalty) – The Company has contributed to a
litigation funding agreement in respect of a litigation claim being pursued by Strategic
Minerals Europe Corp. (" Strategic") related to the Penouta tin-tantalum mine in Spain over
which the Company held a 1.5% gross revenue royalty interest . As previously disclosed by
Strategic, the Superior Court of Xustiza of Galicia suspended the Section C permit for the
Penouta mine leading to Strategic’s subsidiary Strategic Minerals Spain, S.L.U (" SMS")
ceasing operations in the first half of 2024, the insolvency of SMS and the Penouta mine being
sold by the insolvency administrator to an unaffiliated third party. In response, Strategic has
initiated civil proceedings against the Xunta of Galicia for damages resulting from the
unjustified suspension of the Section C permit. The Company is contributing to this litigation
to earn a portion of any damages, and to support efforts that could uphold the validity of the
1.5% gross revenue royalty interest. There can be no assurance that the litigation initiated by
Strategic against the Xunta of Galicia will be resolved i n Strategic’s favor or result in any
recovery of damages. Furthermore, the Company can provide no assurance that its 1.5%
gross revenue royalty interest will be capable of generating future revenue. The Company
continues to review its rights and remedies under the royalty agreement.
Alan Roberts, a Certified Professional Geologist (“CPG”) #11260 by the American Institute of
Professional Geologists, and a qualified person, who is not independent of Electric Royalties, has
reviewed and approved the technical information contained in this release.
About Electric Royalties Ltd.
Electric Royalties is a royalty company established to take advantage of the demand for a wide range
of commodities (lithium, vanadium, manganese, tin, graphite, cobalt, nickel, zinc and copper) that
will benefit from the drive toward electrification of a variety of consumer products: artificial
intelligence, cars, rechargeable batteries, large scale energy storage, renewable energy generation
and other applications.
Artificial intelligence, electric vehicle sales, battery production capacity and renewable energy
generation are slated to increase significantly over the next several years and with it, the demand for
these targeted commodities. This creates a unique opportunity to invest in and acquire royalties over
the mines and projects that will supply the materials needed to fuel the electric revolution.
Electric Royalties has a growing portfolio of 43 royalties in lithium, vanadium, manganese, tin,
graphite, cobalt, nickel, zinc and copper across the world. The Company is focused predominantly
on acquiring royalties on advanced stage and operating project s to build a diversified portfolio
located in jurisdictions with low geopolitical risk, which offers investors exposure to the clean energy
transition via the underlying commodities required to rebuild the global infrastructure over the next
several decades towards a decarbonized global economy.