Elemental Altus Notes Regulatory Approval for Expansion at Cornerstone Karlawinda Royalty
Elemental Altus Notes Regulatory Approval for
Expansion at Cornerstone Karlawinda Royalty
Vancouver, British Columbia--(Newsfile Corp. - July 29, 2025) - Elemental Altus Royalties Corp. (TSXV:
ELE) (OTCQX: ELEMF) ("
Elemental Altus
" or the "
Company
") is pleased to acknowledge the receipt
of regulatory approval by Capricorn Metals Limited (ASX: CMM) (
"Capricorn"
) for the full development
of the Karlawinda Expansion Project in Western Australia. The expansion is expected to increase annual
gold production by approximately 25% to 150,000 ounces per annum. Elemental Altus holds an
uncapped 2% net smelter return (NSR) royalty.
Highlights
On completion of the expansion in 2026, Elemental Altus to benefit from approximately 25% higher
production at its cornerstone Karlawinda royalty at no cost
Capricorn Metals has received formal approval for development of the Karlawinda Expansion
Project from the Western Australian Department of Energy, Mines, Industry Regulation and Safety
("
DEMIRS
")
Capricorn plans to increase mill throughput at Karlawinda from 4Mtpa to 6.5Mtpa, lifting gold
production to approximately 150,000 ounces per year
Construction of the 164-room camp expansion largely complete and early clearing and earthworks
associated with the expansion have commenced
The expansion plans include additional open pits, new crushing and ball mill circuits, and additional
infrastructure upgrades
Frederick Bell, CEO of Elemental Altus, commented:
"It is exciting to see DEMIRS approval of the Karlawinda Expansion Project, which is a key derisking
step and enables an expedited start to construction. Karlawinda is a high-margin, long-life operation,
and a cornerstone asset in the Elemental Altus royalty portfolio. The Company is excited to follow the
progress of Capricorn as they continue to add value at Karlawinda at no cost to Elemental Altus."
Karlawinda Expansion
The Karlawinda Expansion Project includes expanded mining activities of the existing Bibra pit, as well
as further development at the Southern Corridor and Berwick open pits. Capricorn have approved the
construction of a second tailings storage facility, as well as a parallel crushing and milling circuit
designed to replicate the existing plant. The parallel processing stream offers the flexibility while
maximising the use of existing infrastructure downstream of the CIL tanks. The average annual gold
production from the expanded KGP is expected to increase around 25% from current levels to the order
of 150,000 ounces.
Procurement, engineering and early site works are already underway and are expected to be completed
over a 12-month development timeline. An optimised project schedule and updated construction and
development capital cost estimate are expected to be completed early in Q4, with procurement and
early site works commencing in the meantime.
The expansion announcement in October 2024 followed a previously announced 15% increase to the
Mineral Reserves to 1,428 thousand ounces of gold contained in 57.7 Mt with a grade of 0.8 g/t Au. This
equates to a 27% increase to the Mineral Reserves after accounting for mining depletion up to July
2024. All Karlawinda Mineral Reserves are categorised as Probable Reserves. Indicated Resources
were increased to 1,965 thousand ounces of gold in 85.0 Mt with a grade of 0.7 g/t Au. Inferred
Resources include a further 287 thousand ounces of gold in 13.6 Mt with a grade of 0.7 g/t Au
1
.
Frederick Bell
CEO
Corporate & Media Inquiries:
Tel: +1 604 646 4527
www.elementalaltus.com
Elemental Altus is a proud member of Discovery Group. For more information please visit:
www.discoverygroup.ca
or contact +1 604 646 4527.
TSX.V: ELE | OTCQX: ELEMF | ISIN: CA28619K1093 | CUSIP: 28619K109
About Elemental Altus Royalties Corp.
Elemental Altus is an income generating precious metals royalty company with 10 producing royalties
and a diversified portfolio of pre-production and discovery stage assets. The Company is focused on
acquiring uncapped royalties and streams over producing, or near-producing, mines operated by
established counterparties. The vision of Elemental Altus is to build a global gold royalty company,
offering investors superior exposure to gold with reduced risk and a strong growth profile.
Neither the TSX-V nor its Regulation Service Provider (as that term is defined in the policies of the TSX-
V.) accepts responsibility for the adequacy or accuracy of this press release.
Qualified Person
Richard Evans, FAusIMM, is Senior Vice President Technical for Elemental Altus, and a qualified person
under National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and
approved the scientific and technical disclosure contained in this press release.
Notes
1) "KGP Ore Reserve increases to 1.43 Million Ounces - Expansion Study Underway", dated August 1, 2024, at
https://capmetals.com.au/
Cautionary note regarding forward-looking statements
This news release contains "forward-looking information" within the meaning of applicable Canadian
securities laws and "forward-looking statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995, (together, "forward-looking statements"), concerning the
business, operations and financial performance and condition of the Company. Forward-looking
statements include, but are not limited to, statements with respect to the future price of gold; the
estimation of mineral reserves and mineral resources; the realization of Mineral Reserve estimates; the
Company's growth prospects; the Company's estimated 2025 revenues; and the timing and amount of
estimated future production. Generally, forward-looking statements can be identified by the use of
forward-looking terminology such as "plans," "expects" or "does not expect," "is expected," "budget,"
"scheduled," "estimates," "forecasts," "intends," "anticipates" or "does not anticipate," "believes,"
"projects" or variations of such words and phrases or state that certain actions, events or results "may,"
"could," "would," "might" or "will be taken," "occur" or "be achieved." Forward-looking statements are
based on the opinions and estimates of management as of the date such statements are made, and
they are subject to known and unknown risks, uncertainties and other factors that may cause the actual
results, level of activity, performance or achievements of the Company to be materially different from
those expressed or implied by such forward-looking statements, including, but not limited to, volatility in
the price of gold, discrepancies between anticipated and actual production by companies in our
portfolio, risks inherent in the mining industry to which the companies in our portfolio are subject,
regulatory restrictions, the impact of the current COVID-19 pandemic on the companies in our portfolio,
activities by governmental authorities (including changes in taxation), currency fluctuations and the
accuracy of the mineral reserves, resources and recoveries set out in the technical data published by the
companies in our portfolio. Although management of the Company has attempted to identify important
factors that could cause actual results to differ materially from those contained in forward-looking
statements, there may be other factors that cause results not to be as anticipated, estimated or intended.
There can be no assurance that such statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements. The Company cautions readers not to place undue
reliance on forward-looking statements, as forward-looking statements involve significant risks and
uncertainties. Forward-looking statements should not be read as guarantees of future performance or
results and will not necessarily be accurate indications of whether or not the times at or by which such
performance or results will be achieved. The Company does not undertake to update any forward-
looking statements except in accordance with applicable Canadian securities laws. Readers are
directed to the Company's Annual Information Form dated April 29, 2024, filed under the Company's
profile on SEDAR (
www.sedarplus.ca
) for a complete list of applicable risk factors. Investors are
advised that National Instrument 43-101 Standards for disclosure for Mineral Projects ("NI 43-101") of
the Canadian Securities Administrators requires that each category of Mineral Reserves and Mineral
Resources be reported separately. Mineral Resources that are not Mineral Reserves do not have
demonstrated economic viability.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/260485