Elemental Altus Inks Deal to Advance Egyptian Gold Assets, Gains Cash and Royalties

About Elemental Altus Royalties Corp.

Elemental Altus Royalties Corp. is an income generating precious metals royalty company focused on acquiring uncapped royalties and streams over producing, or near-producing, mines operated by established counterparties. The company also generates royalties on new discoveries. Elemental Altus aims to build a global gold royalty company, offering investors superior exposure to gold with reduced risk and strong growth potential.

Strategic Partnership in Egypt Creates Significant Royalty Opportunity

On August 28th, Elemental Altus announced a strategic partnership with In2Metals Explorer S.à r.l., an affiliate of cornerstone shareholder La Mancha Investments, to advance gold exploration projects in Egypt.

Under the agreement, In2Metals acquired an 80.1% interest in Elemental Altus' subsidiary Akh Gold Ltd., which holds a portfolio of prospective gold targets in Egypt's Eastern Desert. In2Metals will invest $10 million into Akh Gold over four years to fund exploration activities.

In return, Elemental Altus will receive:

• 1.5% net smelter return (NSR) royalty on current licenses totaling 1,914 sq km
• $1.1 million cash payment on closing and $0.4 million by August 2024
• $5 million milestone payment upon defining a 3 million ounce gold resource
• 19.9% equity interest in Akh Gold with rights to co-fund its stake after the initial investment

The NSR royalty covers very prospective ground, including the Wadi Dubur project located just 35km from Centamin's 14 million ounce Sukari gold mine. Previous sampling at Wadi Dubur returned up to 6.8 g/t gold over 18m. With over 200 hard rock and 260 sq km of alluvial gold workings mapped so far, Akh Gold's Egyptian licenses represent prime royalty real estate.

In2Metals is led by veteran geologist Gérard de Hert, former SVP of Exploration for Endeavour Mining, and backed by the influential Egyptian Sawiris family. This partnership validates the potential of Elemental Altus' royalty generation model and provides the expertise and capital to rapidly advance exploration in Egypt.

Elemental Altus Continues to Grow Global Royalty Portfolio

The Akh Gold transaction in Egypt follows a few other recent royalty generation deals for Elemental Altus this year:

• 0.68% NSR royalty on Arizona Sonoran's Cactus project, a brownfields porphyry copper project in Arizona which produced 200,000 short tons of copper between 1974 and 1984
• 0.5% Gross Revenue Royalty (GRR) on the exploration stage Nyanga Project, a highly-prospective magmatic nickel-copper sulphide project in Gabon with royalty coverage of 2,725km²
• Two uncapped 2.5% NSR royalties over highly prospective ground with ANS Exploration on Copper and Gold Projects in northern Ethiopia
• Up to 3.0% NSR on gold produced from the Diba project in western Mali.

With these new royalties added to a portfolio of 10 producing royalties, Elemental Altus continues to execute on its goal of building a diversified, global gold royalty company. The pipeline of royalty generation opportunities remains strong in proven mining jurisdictions.

Summary

For investors seeking gold exposure with reduced risk and significant growth potential, Elemental Altus Royalties provides an attractive opportunity. With a solid base of cash flowing royalties, new royalties added through low-cost generative deals, and backing from cornerstone investor La Mancha, Elemental Altus is positioned for continued growth.

As the company expands its royalty portfolio across Africa and other mining-friendly districts, Elemental Altus has the potential to emerge as an industry leading gold royalty company. Investors interested in profiting from this growth story should conduct due diligence on adding Elemental Altus to their precious metals investment portfolio.