Empress Executes Stream ON Sierra Antapite GOLD MINE
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NEWS RELEASE | JULY 28, 2021 | VANCOUVER , BC
EMPRESS EXECUTES STREAM ON SIERRA ANTAPITE
GOLD MINE
Empress Royalty Corp. (TSXV:EMPR | OTCQB:EMPYF) (“Empress” or the “Company”) is pleased
to announce the execution of a US$10M gold stream agreement (the “Stream”) on the Sierra
Antapite mine in Peru owned by the private corporation Sierra Sun Group , through it’s 100%
owned Peruvian company Sierra Antapite S.A.C Mining Unit (“Sierra Antapite”).
“We are pleased to announce that Empress has executed a US$10M gold stream which will
become our first revenue generating investment,” stated Alexandra Woodyer Sherron, CEO and
President of Empress. “We are excited to be working with Sierra Sun Group to provide funding
for expansion of production at their Sierra Antapite gold mine. The Sierra Antapite investment is
a turning point for our Company, transforming Empress into a revenue generating royalty and
streaming company."
THE INVESTMENT & TRANSACTION
Empress has executed a US$10M gold stream agreement on the payable gold production from
the Sierra Antapite mine in Peru at 20% of the gold spot price . The Stream is on 4.5% of the
payable gold production for of the first 11,000 gold ounces and 1% thereafter for life of mine .
The Stream will be registered and secured against the mine. The Stream will be funded in two
tranches of US$5M, each tranche is subject to typical conditions precedent before funding. The
first tranche of US$5M has been funded on July 28, 2021 and the final tranche is anticipated to
be completed by the end of September 2021.
The mine will use Empress’ investment to increase its processing capacity from 750 to 1,000
tonnes-per-day.
THE PROJECT
The Sierra Antapite mine is located in Huaytara province, department Huancavelica, Peru. It is
classified as a vein-hosted low sulphization epithermal deposit and has been operated by Peru-
based management and shareholders since December 2016 when the mine was purchased from
Buenaventura. Based on management’s internal assessment and long -term planning, the mine
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has more than a five year life-of-mine (“LOM”) at a rate of 1,000tpd. Long Hole Stoping (“LHS”)
and Cut- and-Fill (“ CAF”) are the two mining methods utilized at the mine. Since initiation of
operation in 2002, the mine has reported to have produced approximately one million ounces of
gold.
Image 1. Sierra Antapite’s Plant
The mine is fully permitted, has all social licenses to operate, and sells dore bars through either
Metalor Technologies, a Switzerland -based refiner, or through Procesadora Sudmerica S.R.L, a
Peru-based refiner. The cyanidation and Carbon-in-Carbon (“CIC”) flowsheet is straight forward,
with no need for fine or ultra-fine grinding, no refractory ore and the flowsheet is “off the shelf”
technology. Given this is an operating company with a track record, realized results de-risks many
operating assumptions and inputs used in production forecasts derived from realized results.
For further information, please see the Sierra Sun Group LinkedIn page
(https://www.linkedin.com/company/sierrasungroup/).
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Image 2. Mill at Sierra Antapite
ABOUT SIERRA SUN GROUP
The Group began its activities providing services to the mining industry over 20 years ago, Gemin
Associates and Gemin Construction are well recognized in the mining market for providing
specialized services and integral solutions for the development of mining projects at international
level, through study services, geology, engineering, project management, maintenance, and
mining operations. Presently working for local and international mining companies.
This naturally led to develop their own mines. Over the past seven years the group’s team of top
geologists have been working identifying and studying concessions and mines to build up this
important portfolio.
Sierra Sun Group is a group of companies that now hold over 65,000 hectares of mining
concessions in central and southern Peru. The Group has three mineral based portfolios: Gold,
Polymetallic and Copper, the Gold portfolio holds Antapite mine and three other projects, the
Polymetallic portfolio has Sumaq Rumi mine and one project, whilst the Copper portfolio consist
of three copper porphyries project and an underground copper project.
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The Sierra Sun Group has over 750 employees in its operations and third -party projects all
working under strict Covid-19 protocols enabling business as usual.
ABOUT EMPRESS ROYALTY CORP.
Empress is a new royalty and streaming creation company focused on providing investors with a
diversified portfolio of gold and silver investments. Empress has a current portfolio of 17
precious metal investments and is actively investing in mining companies with development and
production stage projects who require additional non-dilutive capital. The Company has strategic
partnerships with Endeavour Financial, Terra Capital, and Accendo Banco 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 looking forward to
continuously creating value for its shareholders th rough 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 Kaitlin
Taylor, Investor Communications, by email at [email protected] or by phone at
+1.604.331.2080.
Neither TSX Venture Ex change 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 regarding the Alliance Agreement 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 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, being able to negotiate and enter into binding agreements for royalty o r stream deals with potential
counterparties. Readers are referred to the risk factors and contained in E mpress' 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 publicly 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.