Elemental Altus Generates Two New Gold and Copper Royalties in Ethiopia

About Elemental Altus Royalties

Elemental Altus Royalties Corp. (TSX-V: ELE, OTCQX: ELEMF) is an income-generating precious metals royalty company with 10 producing royalties and a diversified portfolio of pre-production and discovery stage assets. The company is focused on acquiring uncapped royalties and streams over producing, or near-producing, mines operated by established counterparties, as well as generating royalties on new discoveries. Elemental Altus aims to build a global gold royalty company, offering investors superior exposure to gold with reduced risk and a strong growth profile.

Interview with Chief Executive Office, Frederick Bell

New Royalties Generated in Northern Ethiopia

Elemental Altus recently announced the generation of two new gold and copper net smelter return (NSR) royalties through the sale of 95% of its Ethiopian focused subsidiary Altau Resources Ltd to Canadian company ANS Exploration Corp.

The royalties cover 299.5 sq km Daro and 284.9 sq km Zager exploration licenses located in northern Ethiopia. The licenses are considered highly prospective for volcanogenic massive sulphide (VMS) copper and gold deposits.

Key Highlights:

• Two uncapped 2.5% NSR royalties on prospective exploration ground
• US$200,000 in cash payments from ANS with US$50,000 upfront + 5 quarterly payments of US$30,000
• Retention of 5% equity interest in Altau, non-dilutable until completion of a feasibility study
• Up to 5% equity interest in any future ANS IPO
• Milestone payments from ANS of US$500,000 each for:
• Resource above 1 million oz gold equivalent
• Completion of a feasibility study
• 5 year buyback option for ANS of up to 1% of each royalty for US$1.5 million

ANS Exploration Chosen for Experience in East Africa

Elemental Altus selected ANS Exploration for this deal given their experienced management team and proven track record in East Africa. ANS will now commence exploration work to generate drill targets for 2024.

The extensive outcrop on the licenses of island arc and back-arc complexes is considered prospective for near surface base metal discoveries.

Frederick Bell, CEO of Elemental Altus, commented: "We are delighted to complete this royalty generation transaction with ANS on two strategically located gold and copper licences totalling 584 sq km in northern Ethiopia... Our shareholders will benefit from exposure to two new 2.5% NSR royalties, cash of US$200,000, performance milestone payments and retained project equity. This transaction exemplifies our capacity to generate organic value by working with high quality counterparties."

Conclusion

With this strategic royalty generation deal, Elemental Altus has expanded its portfolio and provided investors with additional gold and copper exposure. The company continues to execute on its vision of building a global gold royalty company with reduced risk and upside growth potential. Investors looking for royalty exposure to high-potential exploration projects are encouraged to take a closer look at Elemental Altus.