Elemental Altus Royalties Forecasts Record Seventh Consecutive Year of Revenue Growth

• Elemental Altus Royalties forecasts record revenues for the 7th consecutive year in 2024
• 2024 guidance of 10,000-11,700 Gold Equivalent Ounces (GEOs), an 85% increase from 2022
• Organic royalty revenue growth driven by Diba and Bonikro royalties
• Adjusted revenue forecast of $20-23.3M based on $2,000/oz gold and $3.90/lb copper prices
• Additional $20M in portfolio payments expected over 2024-2025 alongside royalty revenue

About Elemental Altus Royalties Corp.

Elemental Altus Royalties Corp. (TSX-V: ELE, OTCQX: ELEMF) is a precious metals royalty company generating income from 11 producing royalties. The company has a diversified portfolio of pre-production and discovery stage assets, focusing on acquiring uncapped royalties and streams over producing or near-production mines operated by established partners. Elemental Altus' vision is to build a global gold royalty company offering investors superior exposure to gold with reduced risk and strong growth potential.

Continued Track Record of Growth

CEO Frederick Bell commented on the company's anticipated record performance in 2024, continuing their track record of increasing revenue every year since inception. This growth is attributed to the diversified, high-quality portfolio the Elemental Altus team has carefully assembled, featuring producing royalties on mines with proven operators.

The company expects material organic growth in 2024 to be driven by royalties over the Bonikro and Diba projects, both operated by the newly-listed Allied Gold. The Bonikro royalty covers Pushback 5, which is expected to be the main production area for the next several years after successfully ramping up production in late 2023. Allied Gold has also guided to first production at Diba in the first half of 2024, while simultaneously working to expand the resource, providing potentially significant long-term upside exposure for Elemental Altus.

2024 Guidance & Revenue Forecast

For 2024, Elemental Altus provides guidance of 10,000 to 11,700 Gold Equivalent Ounces (GEOs), representing a 20% increase from 2023 at the midpoint and an impressive 85% increase from 2022 levels. This growth is primarily driven by organic royalty revenue from key assets like Bonikro and Diba.

Based on gold prices of $2,000 per ounce and copper prices of $3.90 per pound, the company forecasts adjusted revenue of approximately $20.0 to $23.3 million for the year. In addition to royalty revenue, Elemental Altus expects to receive around $20 million in payments from its portfolio over 2024 and 2025, further bolstering its financial position.

Strong Position for Future Growth

Looking ahead, Elemental Altus remains in a robust position to expand its portfolio of high-quality, sustainable, and revenue-generating assets. The company is supported by a strong cash position, ongoing royalty receipts, and available funds through its credit facility with National Bank and CIBC. Management believes these factors will enable the company to generate material shareholder value in the coming years.

Conclusion

For investors considering Elemental Altus Royalties, the company presents a compelling opportunity for exposure to gold and other precious metals with reduced risk and strong growth potential. The company's track record of consistent revenue growth, driven by a diversified portfolio of high-quality producing royalties, sets it apart in the royalty and streaming space.

With material organic growth expected in 2024 from key royalties like Bonikro and Diba, and a robust financial position supported by ongoing royalty receipts, portfolio payments, and available credit, Elemental Altus is well-positioned to continue delivering shareholder value. The company's focus on acquiring uncapped royalties and streams on producing or near-production mines operated by established partners further de-risks its portfolio and growth strategy.

Investors should keep an eye on Elemental Altus as it continues to execute its vision of building a leading global gold royalty company, offering superior precious metals exposure with reduced risk and strong growth potential.