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EMPR.V ·

Empress Announces Listing of Warrants

Listings & Exchange

WWW.EMPRESSROYALTY.COM PAGE 1

NEWS RELEASE │ MARCH 29, 2021 │ VANCOUVER, BC

EMPRESS ANNOUNCES LISTING OF WARRANTS

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN

THE UNITED STATES

Empress Royalty Corp. (TSXV:EMPR │ OTCQB:EMPYF) (“Empress” or the “Company”) is pleased

to announce that the TSX Venture Exchange ( "TSXV") has accepted for listing up to 17,250 ,000

common share purchase warrants of the Company (the "Warrants"). The Warrants will be listed

for trading on the TSXV under the symbol " EMPR.WT" effective at market open on March 30,

2021.

A total of 15,752,500 Warrants are presently issued and outstanding, and were issued pursuant

to a prospectus offering of 31,505,000 units (including a partial exercise of t he underwriters’

over-allotment option), which closed on March 25, 2021. The underwriters have 30 days from

closing to exercise the remaining portion of the over- allotment option. An additional 1,497,500

Warrants may be issued if the underwriters exercise the over-allotment option in full.

Each Warrant entitles the holder thereof to acquire one common share of the Company at an

exercise price of C$0.75 until March 25, 2023. The Warrants were issued pursuant to, and are

governed by, the terms of a warrant indenture dated March 25, 2021 between the Company and

Computershare Trust Company of Canada, as warrant agent, a copy of which is available under

the Company's SEDAR profile at www.sedar.com.

The securities have not been, and will not be, registered under the U.S. Securities Act of 1933, as

amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or

sold in the United States or to, or for the account or benefit of, United States persons absent

registration or any applicable exemption from the registration requirements of the U.S. Securities

Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell

or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of

these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

WWW.EMPRESSROYALTY.COM PAGE 2

ABOUT EMPRESS ROYALTY CORP.

Empress is a new precious metals royalty and streaming company focused on the creation of

unique financing solutions for mining companies. Empress has a portfolio of 15 investments and

is actively focused on finding industry partners with development and production stage projects

who require additional non- dilutive capital. The Company has strategic partnerships with

Endeavour Financial in London, Terra Capital in Australia and Accendo Banco in Mexico which

allow Empress to not only access global investment opportunities but also bring unique mining

finance expertise, deal structuring and access to capital markets. Empress is lookin g forward to

continuously creating value for its shareholders through the proven royalty and streaming

models.

ON BEHALF OF EMPRESS ROYALTY CORP.

Per: Alexandra Woodyer Sherron, CEO and President

For further information, please visit our website at www.empressroyalty.com or contact

Alexandra Woodyer Sherron, CEO and President, by phone at +1.604.331.2080 or email at

[email protected].

CAUTIONARY STATEMENT:

Neither 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 release.

This news release contains statements about Empress’ expectations which are forward- looking in nature and, as a

result, are subject to certain risks and uncertainties. Generally, forward- looking statements can be identified by the

use of forward-looking terminology such as “expects”, “believes”, “anticipates”, “aims to”, “plans to” or “intends to”

or variations of such words and phrases or statements that certain actions, events or results “will” occur. Although

Empress believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance

should not be placed on them as actual results may differ materially from the forward- looking statements. Factors

that could cause the actual results to differ materially from those in forward- looking statements include the clos ing

of the Offering, the exercise of the Over -Allotment Option, Empress not being successful in identifying suitable

investment opportunities, being able to successfully complete technical, financial or legal diligence in respect of

investment opportunities it has identified, or being able to negotiate and enter into binding agreements for royalty

or stream deals with potential counterparties. Readers are referred to the risk factors and contained in Empress' most

recent annual information form for a description of the principal risks affecting Empress, its business and its securities.

The forward -looking statements contained in this news release are made as of the date hereof, and Empress

undertakes no obligation to update publicl y or revise any forward- looking statements or information, except as

required by law. Readers should not place undue reliance on forward- looking statements or information.