Elemental Royalties: Notes strive to target discovery of additional 1.5-2.0 million ounces at Wahgnion

VANCOUVER, BC, October 7, 2021 / CNW / – Elemental Royalties Corp. (“Elementary“or the Society“) (TSXV: ELE) (OTCQX: ELEMF) is pleased to note the recent announcement of Endeavor Mining plc (“Effort“) (LSE / TSX: EDV) describing a five-year exploration and discovery outlook, including a risky medium indicated resource discovery target¹ from 1.5 to 2.0 Moz of gold at Wahgnion gold project in Burkina Faso. Elemental acquired a 1% NSR royalty covering the entire Wahgnion gold project in January 2020.

Strong points

• Endeavor announced that between 1.5 and 2.0 Moz of indicated resources are expected to be discovered at Wahgnion over the next five years, in addition to the existing 2.2 Moz at 1.51 g / t gold of the measured resource. and indicated. Production at Wahgnion during the period is currently expected to be around 775,000 ounces of gold²
• The exploration target defined by Endeavor for Wahgnion is 21 to 39 Mt at 1.2 to 3.0 g / t gold
• Endeavor reported that approximately 36 million US dollars The five-year exploration program to the end of 2025 will focus on open-pit targets located within 10 kilometers of existing infrastructure, including Nogbele Nord, Nogbele Sud, Fourkoura, Hillside and Korindougou, as well as new targets such as Kafina West
• Development of the Wahgnion mine has accelerated since its commissioning in 2019 to supply the plant which was operating at 30% above rated capacity, requiring an acceleration of discovery to meet future plant demands.
• The focus will be on the Nogbele North and Nogbele South deposits, where Endeavor allocates a high probability of success, targeting the pursuit of mineralized structures under and between the numerous Nogbele pits. There has been very little deep drilling at Nogbele and other deposits which may contain significant upside resources.
• In the longer term, several deposits and satellite targets will be the subject of a multi-year effort given the significant exploration potential.

Richard evans, Senior Vice President, Technical, Elemental, said: “The Wahgnion gold project, with> 1000 km² under-explored high-prospectivity Birimian greenstone exploration concessions, has performed well against Endeavor’s broader portfolio of projects in a disciplined and weighted exploration priority selection process. function of probabilities. This led to an indicative five-year exploration budget of 36 million US dollars and a plan to deliver new indicated resources that are approximately double the expected production over the same period, and at a higher average grade than the current resource. Endeavor aims for short-term returns based on leveraging existing infrastructure, with the Nogbele complex right next to the Wahgnion mill ranking as high in terms of likelihood of success as any of Endeavor’s world-class gold projects in West Africa. “

From Elemental Royalties Corp.

Frederic BellCEO and director

Elemental is a proud member of Discovery Group. For more information, please visit: www.discoverygroup.ca or call 604-653-9464.

TSX.V: ELE | OTCQX: ELEMF | ISIN: CA28619L1076

On Elementary royalties

Elemental is a gold-focused royalty company listed on the TSX Venture Exchange in Canada and provides investors with low-risk precious metals exposure through a portfolio of nine high-quality royalties. This allows investors to benefit from continued royalty income, increased future exploration and low operating costs. Elemental’s experienced team seeks royalties in advanced precious metals projects, managed by established operators, from its pipeline of identified opportunities.

Note 1: For the methodology, see Endeavor Mining’s presentation entitled “Unlock Exploration Value: Indicated Resource Discovery Target Between 2021-2025“dated September 30, 2021, available at https://www.endeavourmining.com/. Targeted indicated resources are based on an average tonnage and average gold grades of 1.2 to 3.0 g / t. The potential tonnes, grade and resulting ounces are conceptual in nature as there has not been enough exploration to define a mineral resource and it is not certain that exploration will result in the delineation of the mineral resources. targets as a mineral resource.

Note 2: Source SNP Global Market Intelligence

Qualified person

Richard evans, FAusIMM, is Senior Technical Vice President for Elemental, and a Qualified Person under National Instrument 43-101 – Disclosure Standards for Mining Projects, has reviewed and approved the scientific and technical disclosure contained in this press release.

Neither the 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 press release.

Caution Regarding Forward-Looking Statements

This press release contains certain “forward-looking statements” and certain “forward-looking information” as defined by applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terms such as “may”, “will”, “should”, “expect”, “intend”, “estimate”, ” anticipate ”,“ believe ”,“ continue ”,“ plans ”or similar terminology.

Forward-looking statements and information include, without limitation, statements regarding 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 which, although considered reasonable by management, 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 Elemental’s ability to control or predict, which may cause Elemental’s actual results, performance or achievements to differ materially from those. expressed or implied. thus, and are developed based on assumptions regarding those risks, uncertainties and other factors set forth herein, including, but not limited to: the requirement for regulatory approvals and third party consents, the impact general business and economic conditions, the lack of control over mining operations from which Elemental will receive royalties, including risks related to international operations, government relations and environmental regulations, risks inherent in exploration and development mining properties; uncertainties related to the interpretation of 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 meet Elemental’s expectations; accidents, equipment failures, title issues, labor disputes or other difficulties or unforeseen interruptions of operations; fluctuating metal prices; unforeseen costs and expenses; uncertainties about the availability and costs of necessary funding in the future; the inherent uncertainty of production and cost estimates and the potential for unforeseen costs and expenses, fluctuations in commodity prices; currency fluctuations; regulatory restrictions, including environmental regulatory restrictions; liability, competition, loss of key employees and other related risks and uncertainties. Elemental assumes no obligation to update forward-looking information, except as required by applicable law. This 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 significantly. Therefore, readers are advised not to place undue reliance on forward-looking statements or information.

THE SOURCE Elemental Royalties Corp.

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