Electric Royalties Provides Update ON Eight Royalties IN Portfolio
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ELECTRIC ROYALTIES PROVIDES UPDATE ON EIGHT ROYALTIES IN PORTFOLIO
VANCOUVER, BRITISH COLUMBIA – May 17, 2023 – Electric Royalties Ltd. (TSXV: ELEC) (OTCQB: ELECF)
(“Electric Royalties” or the “Company”) is pleased to provide the following update on its current royalty
portfolio.
Brendan Yurik, CEO of Electric Royalties, commented: “We’re pleased to have begun receiving payments
from our recently acquired Penouta tin-tantalum royalty. We are now generating cash flow from both
zinc and tin royalties, and expect our lithium royalty on the Authier Project to begin generating cash in
the near future upon its integration into the production mix at Sayona Mining’s operating North
American Lithium facility. On the development front, an additional eight projects in our royalty portfolio
have made good progress in the last month, all funded by third parties at no cost to Electric Royalties.
We’re excited about the portfolio we’ve built that is diversified across nine clean energy metals, with a
growing exposure to each metal. Going forward, we will continue to prioritize the acquisition of near-
term revenue-generating royalties.”
Highlights since the Company’s previous update on April 3, 2023:
• Penouta Tin -Tantalum Mine (0.75% Gross Revenue Royalty) – On March 30, 2023, Strategic
Minerals Europe Corp. (NEO: SNTA) (OTCQB: SNTAF) reported its full-year and fourth quarter 2022
financial results. Highlights for the fourth quarter included primary concentrate production of 105
tonnes at the Penouta Mine in Spain, or a 310% increase over the same period in 2021 . Sales
reached 121 tonnes of concentrate and 80 tonnes of contained minerals, increasing 89% and 113%,
respectively, compared to the same period in 2021. Electric Royalties has now received its first
royalty payment from Penouta.
• Authier Lithium Project (0.5% Gross Metal Royalty) – On April 14, 2023, Sayona Mining Limited
(ASX: SYA) (“Sayona”) announced results of its feasibility study that combines its Québec flagship
North American Lithium (NAL) operation and nearby Authier Lithium Project , on part of which
Electric Royalties holds a 0.5% gross metal royalty. NAL has begun operations with more than 3,000
tonnes of saleable spodumene (lithium) concentrate as of March 31, 2023, and it is expected that
Authier will begin to add to that production profile over the coming year.
Electric Royalties is relying on the information provided by Sayona and is unable to verify the
feasibility results.
• Battery Hill Manganese Project (2.0% Gross Metal Royalty) – Manganese X Energy Corp. (TSXV:
MN) (“Manganese X”) reported on March 29, 2023, results of the first 10 of 35 holes of its infill and
expansion drilling designed to upgrade existing inferred resources to the m easured and indicated
categories in support of the upcoming pre-feasibility study (PFS) of the Battery Hill Project in New
Brunswick, Canada. Drill highlights include 84 meters (m) of 12.8% manganese oxide (MnO) starting
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at surface, including 78 m of 13% MnO in hole SF22-66; 4 m of 11.2% MnO starting at 8 m, including
71.4 m of 11.4% MnO in hole SF22 -65; and 8 m of 14.6% MnO starting from 4.2 m, including 31.8
m of 19% MnO in hole SF22-631.
The PFS is key to the decision making and forward planning of the mine permitting process, as well
as the de -risking and advancement of Battery Hill. The current drill program is a key part of
preparing for the PFS, in addition to environmental, community and geotechnical studies that will
commence in the next few months.
Manganese X’s pilot plant project at Kemetco Research Inc. in Richmond, B ritish Columbia, is well
underway, with high purity EV-compliant manganese sulfate monohydrate products expected to be
sent to interested parties in the EV battery sector in the co ming weeks to initiate the validation
process.
• Graphite Bull Graphite Project (2.5% Net Smelter Royalty) – On April 19, 2023, Buxton Resources
Limited (ASX: BUX) (“Buxton”) announced the remaining results from its 1,000 -m drill program at
the Graphite Bull Project in Western Australia designed to test the strike length of potential graphite
mineralization interpreted from ground electromagnetic modelling. Buxton has intersected
graphite mineralization on strike from the existing resource and a newly identified near-surface
graphitic zone to the south . Buxton has also commenced baseline biological surveys to support
environmental assessments and approvals.
On May 1, 2023, Buxton announced that bulk processing of core by ALS Metallurgy, supervised by
consultants Battery Limits, is now complete and the >10 kg bulk flake concentrate sample has been
sent to ProGraphite GmbH in south -eastern Germany for downstream testwork. Results are
expected from mid-June to August. Processing of a second bulk sample to yield a second batch of
flake concentrate has begun by Independent Metallurgical Operations in Perth, targeting
completion by end of June. A second independent facility, Dorfner Anzaplan GmbH in central
Germany, has been contracted for more extensive downstream testwork for th e second bulk
sample to be conducted from August to November. The dual-streaming testwork evaluates multiple
process options and pre-empts some work required as part of any future feasibility study.
Electric Royalties is relying on the information provided by Buxton and is unable to verify the
reported drill data.
• Seymour Lake Lithium Project (1.5% Net Smelter Royalty) – On April 11 and 12, 2023, Green
Technology Metals Limited (ASX: GT1) (“Green Technology Metals”) provided updates on
exploration and development activities for the Seymour Lake Project in Ontario, Canada.
Green Technology Metals is working towards a feas ibility study for Seymour Lake and is targeting
production as soon as 2025. Exploration to date on the Aubry deposits has focused on increasing
tonnes and increasing confidence levels of material feeding into a centralized concentrator.
Permitting remains on-track, achieving milestones that include the formal submission of project
definition to the Ontario Minister of Mines to initiate the permitting process, ongoing baseline
environmental assessments, the appointment of a Vice President of Communities to lead
Indigenous engagement and agreement negotiations , and the transfer of a 99-tonne l ithium-
cesium-tantalum pegmatite bulk sample from the Aubry deposit to a test facility to be concentrated
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to proposed offtake specifications and used for the inaugural lithium hydroxide piloting work.
• Råna Nickel-Copper-Cobalt Project (1.0% Net Smelter Royalty) – Global Energy Metals Corporation
(TSXV: GEMC) (“Global Energy Metals”) announced on April 20, 2023 , that geophysical surveys at
the Råna Project in Norway have commenced with a ground -based electromagnetic survey
underway and magnetotelluric surveys planned for May 2023. Combined with geological mapping
and geochemical sampling, this work will focus on the generation of drill targets, with 5,000 m of
drilling expected to commence in July.
• Kenbridge Nickel Project (0.5% Gross Revenue Royalty) – On March 30, 2023, Tartisan Nickel Corp.
(CSE: TN) (“Tartisan”) announced that it is proceeding into the advanced exploration phase at the
Kenbridge Project in Ontario, Canada, as it moves towards feasibility and into project development.
Tartisan outlined next steps in preparation for this phase, including completing the work to develop
the road to the project site, working with First Nations and community partners to complete the
environmental assessment and permitting work, completing a deep geophysic al survey of the
property to further define exploration targets, completing additional drilling to test those new
targets as well as further outline known mineralization , c ompleting additional drilling to bring
inferred resources into the indicated category, and c ompleting a scoping -level review of the
planned exploration phase to provide guidance on expected expenditures as well as providing
inputs on permitting submissions over the next several months.
• Chubb Lithium Project (2.0% Gross Metal Royalty) – Burley Minerals Ltd. (ASX: BUR) (“Burley”)
announced on May 5, 2023 that its inaugural drill program at the Chubb Project in Québec, Canada
has expanded the known mineralization to the south and down-dip. Assay results from the first four
of 10 holes drilled are expected within the next few weeks. The exploration team has commenced
geological and geochemical mapping programs over the Chubb North area where numerous
pegmatites have previously been identified.
Burley is also finalizing the acquisition of the Bouvier Lithium Project, which is located 14km to the
northwest of the Chubb Project. Electric Royalties holds a 2.0% gross metal royalty on the Bouvier
Project. Burley’s geologists are planning and permitting the inaugural drill program.
Electric Royal ties is relying on the information provided by Burley and is unable to verify the
reported drill data.
David Gaunt, P.Geo., a qualified person who is not independent of Electric Royalties, has reviewed and
approved the technical information in this release.
1 See Manganese X Energy Corp.’s news release dated March 29, 2023, for full results, QA/QC practices and
Qualified Person.
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: cars, rechargeable
batteries, large scale energy storage, renewable energy generation and other applications.
Electric vehicle sales, battery production capacity and renewable energy generation are slated to increase
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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 2 2 royalties, including two royalties that currently generate
revenue. The Company is focused predominantly on acquiring royalties on advanced stage and operating
projects to build a diversified portfolio l ocated 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.
For further information, please contact:
Brendan Yurik
CEO, Electric Royalties Ltd.
Phone: (604) 364‐3540
Email: [email protected]
www.electricroyalties.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) , nor any other regulatory body or securities exchange platform,
accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements Regarding Forward-Looking Information and Other Company Information
This news release includes forwa rd-looking information and forward -looking statements (collectively,
"forward-looking information") with respect to the Company within the meaning of Canadian securities
laws. This news release includes information regarding other companies and projects owned by such other
companies in which the Company holds a royalty interest, based on previously disclosed public information
disclosed by those companies and the Company is not responsib le for the accuracy of that information,
and that all infor mation provided herein is subject to this Cautionary Statement Regarding Forward -
Looking Information and Other Company Information. Forward looking information is typically identified
by words such as: believe, expect, anticipate, intend, estimate, postula te and similar expressions, or are
those, which, by their nature, refer to future events. This information represents predictions and actual
events or results may differ materially. Forward -looking information may relate to the Company’s future
outlook and anticipated events and may include statements regarding the financial results, future financial
position, expected growth of cash flows, business strategy, budgets, projected costs, projected capital
expenditures, taxes, plans, objectives, industry trends and growth opportunities of the Company and the
projects in which it holds royalty interests.
While management considers these assumptions to be reasonable, based on information available, they
may prove to be incorrect. Forward -looking statements involve known and unknown risks, uncertainties
and other factors which may cause the actual results, performance or achievements of the Company or
these projects to be materially different from any future results, performance or achievements expressed
or implied by the forward-looking statements. These risks, uncertainties and other factors include, but are
not limited to risks associated with general economic conditions; adverse industry events; marketing costs;
loss of markets; future legislative and regulatory developments involving the renewable energy industry;
inability to access sufficient capital from internal and external sources, and/or inability to access sufficient
capital on favourable terms; the mining industry generally, the Covid -19 pandemic, recen t market
volatility, income tax and regulatory matters; the ability of the Company or the owners of these projects
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to implement their business strategies including expansion plans; competition; currency and interest rate
fluctuations, and the other risks.
The reader is referred to the Company’s most recent filings on SEDAR as well as other information filed
with the OTC Markets for a more complete discussion of all applicable risk factors and their potential
effects, copies of which may be accessed through the Company’s profile page at www.sedar.com and at
otcmarkets.com.