Elemental Royalty Corp

Development Royalty Updates

Laverton, Australia - Gold - 2.0% - 4.0% GSR - Resource Development Genesis Minerals Limited

Genesis Minerals (ASX: GMD) (“Genesis”) continues to highlight the strategic importance of the Focus assets within its growing eastern hub. Genesis identified Beasley Creek as a key project for Laverton and stated that its updated long-term plan will include the introduction of initial Focus assets into the existing Laverton mill, alongside ongoing studies to expand milling capacity. Current work is focused on drilling, resource re-estimation and pit optimization, led by Beasley Creek as the first development priority.

Genesis also highlighted potential upside across the broader Focus tenure, including additional open pit opportunities at Burtville and Karridale, as well as underground potential with all deposits described as open at depth.

Viscaria, Sweden - Copper and Iron - 0.5% - 1.0% NSR - Development Permitting Gruvaktiebolaget Viscaria

Gruvaktiebolaget Viscaria (ST: VISC) (“Viscaria”) stated that groundworks for the processing plant had already commenced in early 2026 and that key priorities for the year include mine dewatering, completion of dams, securing electrical power and connection to the Malmbanan rail network. Viscaria also disclosed that, subsequent to year-end, it had signed long-lead item and construction-related agreements with Metso and Nordec respectively, and is targeting completion of its structured project financing package by the end of Q2 2026.

Viscaria continues to guide toward first production in 2028. The company’s published timetable indicates first ore in 2028, with full production from 2029. At full capacity, Viscaria expects to produce approximately 26,000 tonnes of copper per year over an initial 17 year mine life.

Diablillos, Argentina - Silver and Gold - 1.0% NSR - Feasibility Study AbraSilver Resource Corp.

At Diablillos, AbraSilver (TSX: ABRA) (“AbraSilver”) announced that the project has been approved for inclusion under Argentina’s Large Investment Incentive Regime (“RIGI”). RIGI provides long-term fiscal stability together with tax, customs, and foreign-exchange benefits.

AbraSilver further stated that Diablillos remains on track for several near-term milestones, including Environmental Impact Assessment (“EIA”) approval and completion of the Definitive Feasibility Study, as it works toward a construction decision later this year. The company said detailed engineering, procurement planning, and infrastructure upgrades are advancing in parallel, with early works intended to begin following receipt of the EIA.

Dugbe, Liberia - Gold - 2.0% - 2.5% NSR - Feasibility Study Mansa Resources Limited

Pasofino Gold (“Pasofino”) has been acquired by Mansa Resources (“Mansa”) in an all-cash transaction, with Mansa also agreeing to provide Pasofino with up to $10 million of interim funding through a promissory note. The ownership structure will simplify decision-making going forward and facilitate enhanced financial support from an experienced and well-funded operator. An updated feasibility study is due to be released this year along with a final investment decision for the permitted project.

Cactus & Parks/Salyer, USA- Copper - 0.50% - 0.54% NSR - Pre-Feasibility Study Arizona Sonoran Copper Company

Hudbay Minerals (TSX, NYSE: HBM) (“Hudbay”) has announced that the company has entered into an agreement to acquire Arizona Sonoran and the Cactus Project, establishing a major copper hub in southern Arizona, and Hudbay as a leading supplier of domestic US refined copper, with Hudbay’s Copper World and Cactus both expected to be significant producers of copper cathode. The acquisition substantially reduces execution risk at Cactus given Hudbay’s enhanced balance sheet and proven track record developing and operating large-scale copper projects.

Mactung, Canada - Tungsten - 4.0% NSR - Resource Development Fireweed Metals Corp.

At Mactung, Fireweed Metals (TSX-V: FWZ) (“Fireweed”) announced the commencement of an updated Feasibility Study for its 100%-owned Mactung Tungsten Project, supported by the US Department of War as part of the Defense Production Act. Fireweed stated that the study is expected to be completed in early 2027 and is intended to support further engineering and mine licensing efforts. The mine license application is expected to be submitted in 2027.

Subsequent to the feasibility study announcement, Fireweed closed a C$61.5 million non-brokered private placement, including a strategic investment by JX Advanced Metals Corporation and participation by the Lundin Family Trusts. The proceeds will be used to support advancement of its Macpass, Mactung, and Gayna projects, regional infrastructure planning and general working capital purposes, which should further support the ongoing advancement of Mactung, the world’s largest high-grade tungsten deposit.

Pickle Crow, Canada - Gold - 2.25% NSR - Resource Development Bellavista Resources

FireFly Metals has agreed to sell the 70% interest in the Pickle Crow Project to Bellavista Resources (ASX: BVR) (“Bellavista”) for an aggregate value of A$86.1 million. Subject to and in conjunction with the completion of the acquisition, Bellavista is seeking to raise up to approximately A$25 million, which will be used to conduct Mineral Resource extensional and near-mine drilling, as well as regional mapping and sampling of multiple underexplored structures to identify new targets.

Other Development Royalties

See www.elementalroyalty.com for information on the other development royalty properties.