Elemental Royalties Receives First Royalty Payment from Karlawinda Gold Project
Elemental Royalties Receives First Royalty
Payment from Karlawinda Gold Project
Vancouver, British Columbia--(Newsfile Corp. - October 26, 2021) - Elemental Royalties Corp. (TSXV:
ELE) (OTCQX: ELEMF) ("
Elemental
" or "the
Company
") is pleased to announce that it has received
its maiden quarterly royalty payment of approximately US$0.8 million from a subsidiary of Capricorn
Metals Ltd ("
Capricorn
") (ASX: CMM). Elemental acquired an uncapped 2% NSR royalty on the
Karlawinda Gold Project in February 2021.
"The rapid commissioning and ramp up of production at Karlawinda in Q3 2021 means that
Elemental can expect increased revenue from Q4 2021 and exposure to uncapped gold revenue from
a newly commissioned gold mine in tier 1 Western Australia,"
Frederick Bell, CEO of Elemental
commented.
"Capricorn have already shown that Karlawinda has the potential to outperform current
production levels and Elemental's high-quality portfolio of producing royalties continues to set the
Company apart from peers."
Highlights
Received first royalty revenue of A$1,067,929 from sales of 21,964 ounces of gold in Q3 2021 at
the Karlawinda Gold Project
Production for the year ending June 30, 2022, including commissioning and ramp up in the first
three months of operations, is expected to be 110,000 - 120,000 gold ounces
Capricorn previously announced Karlawinda achieved steady state operations in Q3 2021
Sales expected to increase in future quarters as Karlawinda operates at steady state throughput
rates
On behalf of Elemental Royalties Corp.
Frederick Bell
CEO and Director
Investor Inquiries:
Dustin Zinger, Investor Relations Manager
Direct: +1 (604) 653-9464
Email:
www.elementalroyalties.com
Elemental is a proud member of Discovery Group. For more information please visit:
www.discoverygroup.ca
or contact 604-653-9464.
TSXV: ELE | OTCQX: ELEMF | ISIN: CA28619L1076
About Elemental Royalties
Elemental is a gold-focused royalty company listed on the TSX-V in Canada and provides investors with
lower risk precious metals exposure through a portfolio of nine high-quality royalties.
This enables
investors to benefit from ongoing royalty revenue, future exploration upside and low operating costs.
Elemental's experienced team seeks to secure royalties in advanced precious metals projects, run by
established operators, from its pipeline of identified opportunities.
Qualified Person
Richard Evans, FAusIMM, is Senior Vice President Technical for Elemental, 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.
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.
Cautionary note regarding forward-looking statements
This release contains certain "forward looking statements" and certain "forward-looking information" as
defined under applicable Canadian securities laws. Forward-looking statements and information can
generally be identified by the use of forward-looking terminology such as "may", "will", "should", "expect",
"intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology.
Forward-looking statements and information include, but are not limited to, statements with respect to
the future growth and development of the Company. Forward-looking statements and information are
based on forecasts of future results, estimates of amounts not yet determinable and assumptions that,
while believed by management to be reasonable, are inherently subject to significant business,
economic and competitive uncertainties and contingencies. Forward-looking statements and information
are subject to various known and unknown risks and uncertainties, many of which are beyond the ability
of Elemental to control or predict, that may cause Elemental's actual results, performance or
achievements to be materially different from those expressed or implied thereby, and are developed
based on assumptions about such risks, uncertainties and other factors set out herein, including but not
limited to: the requirement for regulatory approvals and third party consents, the impact of general
business and economic conditions, the absence of control over the mining operations from which
Elemental will receive royalties, including risks related to international operations, government relations
and environmental regulation, the inherent risks involved in the exploration and development of mineral
properties; the uncertainties involved in interpreting exploration data; the potential for delays in
exploration or development activities; the geology, grade and continuity of mineral deposits; the impact
of the COVID-19 pandemic; the possibility that future exploration, development or mining results will not
be consistent with Elemental's expectations; accidents, equipment breakdowns, title matters, labour
disputes or other unanticipated difficulties or interruptions in operations; fluctuating metal prices;
unanticipated costs and expenses; uncertainties relating to the availability and costs of financing needed
in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected
costs and expenses, commodity price fluctuations; currency fluctuations; regulatory restrictions, including
environmental regulatory restrictions; liability, competition, loss of key employees and other related risks
and uncertainties. Elemental undertakes no obligation to update forward-looking information except as
required by applicable law. Such forward-looking information represents management's best judgment
based on information currently available. No forward-looking statement can be guaranteed, and actual
future results may vary materially. Accordingly, readers are advised not to place undue reliance on
forward-looking statements or information.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/100786