Elemental Royalties Limited, (“Elemental”), a private company expanding a diversified portfolio of mineral royalties, is pleased to announce that it has completed the acquisition of a A$10/oz or 5% net profit interest (NPI) royalty on the Mount Pleasant gold mine in project in Australia (the ‘Mt. Pleasant’ royalty).

Highlights:

• Acquisition of Elemental’s second producing royalty covering 1.9Moz Au in the heart of Australia’s Eastern Goldfields region
• Mt Pleasant royalty area covers 1.9Moz of the 10Moz total endowment of the Paddington Mill mine operated by Zijin Mining Group
• Royalty located in established mining jurisdiction over Archaean greenstone-hosted lode gold, containing multiple exploration targets

The Mount Pleasant operations are located 40km northwest of Kalgoorlie in Western Australia, and 10km from Paddington Mill operated by Zijin Mining Group (HKSE: 2899). Mount Pleasant was acquired by Zijin 2012 through the acquisition of Gold Fields Limited, one of Australia’s largest domestic gold producers. Mount Pleasant is a typical Eastern Goldfields Archaean greenstone-hosted lode gold mine with historic production estimated at 4Moz Au. The royalty dates back to 1993 and encompasses 28 individual mining licences, 15 of which have defined Resources, many with earlier production.

At the time of acquisition the Mt Pleasant project had total Measured, Indicated & Inferred resource of 1.9 million ounces of gold at 2.85 g/t Au and a Proven & Probable Reserve of 31,000 ounces of gold at 1.5g/t Au.

Mount Pleasant is currently providing small parcels of higher grade underground or soft oxide ore swing production. As a small part of a large, multi-source operation for a private company with limited public information available it is difficult to forecast royalty revenue until the next major new project is started. The projects under active consideration by the operator, Tuart Underground (476kOz @ 6.0g/t) and Racetrack (814kOz @ 2.3g/t), are expected to each produce 25-30kOzpa or more.

Elemental believes that the historical production, current endowment including higher grade Resources, and the extent of structural disruption of archetypal host rocks of the region will continue to generate attractive targets and ongoing production.

Elemental conservatively estimates net annual royalty revenues of approximately US$0.1M.

For further information please visit the Zijin Mining website or the Norton Goldfields website.

Frederick Bell, Managing Director, commented:

“The Mount Pleasant royalty covers nearly 2Moz gold in the heart of Australia’s Eastern Goldfields region and forms part of Zijin’s overall 10Moz Au Paddington mine. As such, while mining from Elemental’s Mt Pleasant royalty area may fluctuate, we are confident that the asset will provide excellent value over the medium term with operations at Paddington having run for over 20 years and multiple exploration targets across the royalty area.”

About Elemental Royalties Limited

Elemental is a private company providing investors with exposure to a dividend-paying royalty company building a diverse portfolio of mining royalties, benefiting from ongoing royalty revenue, future exploration upside and low operating costs.

Since early 2017 Elemental has assembled a portfolio of five royalties over seven commodities in four countries, four of which cover producing mines. Immediate cash-flow has enabled the Company to limit dilutive fund-raisings to facilitate royalty acquisitions, and to pay a dividend from inception.

Elemental’s focus remains on securing royalties over advanced assets with established operators and credible counter-parties from a robust pipeline of potential royalty acquisitions across commodities and geographies.

For further information you are invited to visit the Company’s website www.elementalroyalties.com or contact:

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