Elemental Altus and EMX Announce Completion of Merger

Newsfile Corp.

Vancouver, British Columbia--(Newsfile Corp. - November 13, 2025) - Elemental Altus Royalties Corp. (OTCQX: ELEMF) ("Elemental Altus") and EMX Royalty Corporation (NYSE American: EMX) ("EMX", and together with Elemental Altus, the "Companies") announced today the closing of the previously announced merger of the Companies by way of a court-approved statutory plan of arrangement pursuant to the Business Corporations Act (British Columbia) (the "Transaction") following securityholder approval of EMX's shareholders and optionholders, Elemental Altus shareholder approval for connected matters (as respectively announced on November 4, 2025), and court-approval of the Transaction (as announced by EMX on November 10, 2025).

In connection with the Transaction, Elemental Altus will file today a name change application to change its name to "Elemental Royalty Corporation". It is anticipated that that the common shares of Elemental Royalty Corporation will commence trading on the TSX Venture Exchange (the "TSX-V") under the new CUSIP (28620K106) and ISIN (CA28620K1066) on November 14, 2025 under the ticker symbol "ELE" and on the OTCQX Best Market under the ticker symbol "ELEMF".

Additionally, Elemental Altus is pleased to announce the closing of the previously announced private placement financing with Tether Investments S.A. de C.V. ("Tether") pursuant to which Tether has purchased 7,502,502 common shares of Elemental Altus at a price of C$18.38 (US$13.33) per common share for aggregate gross proceeds of approximately US$100 million (the "Tether Financing").

In connection with the closing of the Transaction, David Cole has been appointed CEO of Elemental Altus, Frederick Bell has been appointed President and Chief Operating Officer of Elemental Altus, Stefan Wenger has been appointed Chief Financial Officer of Elemental Altus, and David Baker has been appointed Chief Investment Officer.

David Cole commented: "At EMX, we have always believed that a diverse portfolio of mineral rights and royalties offers shareholders a powerful way to access both commodity price upside and exploration-driven growth. The completion of the EMX and Elemental Altus merger brings together our aligned commitment to value-accretive growth and strengthens our collective platform. With enhanced scale, broader diversification, and a stronger growth profile, and we believe that our combined entity delivers exposure to cornerstone current and future revenue-generating assets across the entire development pipeline and commodity spectrum. We look forward to creating further value for shareholders as we advance this next chapter together."

Frederick Bell commented: "The completion of the merger of Elemental Altus and EMX marks a watershed moment for our new company, Elemental Royalty Corporation. Together, we offer investors access to a peer-leading, revenue-generating royalty company, with a gold-focused, globally diversified portfolio of producing, near-term development, and exploration stage assets. We look forward to continuing to build on this exceptionally strong foundation as we assess new opportunities for further growth."

The EMX common shares are expected to be delisted from the TSX-V at market close today and the NYSE American within one to two business days following the date hereof. EMX has also applied to the Canadian securities regulators for EMX to cease to be a reporting issuer in the applicable jurisdictions, and will deregister the common shares of EMX under the U.S. Securities Exchange Act of 1934, as amended.

Further details of the Transaction and the Tether Financing are set out in EMX's Management Information Circular dated September 29, 2025 and Elemental Altus' Management Information Circular dated September 29, 2025 and the related continuous disclosure documents of the Companies, which are available under their respective profiles on SEDAR+ at www.sedarplus.ca, and, for EMX, on Edgar Next at www.sec.gov.

The Transaction was structured so as to permit the parties to rely on the exemption from the registration requirements of the U.S. Securities Act of 1933, as amended, provided by Section 3(a)(10) thereof, together with applicable exemptions from U.S. state securities laws, in connection with the securities issued by Elemental Altus.

U.S. Listing

Elemental Altus has filed an application to list its common shares on Nasdaq Stock Market ("Nasdaq") under the ticker symbol "ELE". Due to the U.S. federal government shutdown, which presently includes the U.S. Securities and Exchange Commission ("SEC"), Nasdaq has advised that it cannot further advance Elemental Altus' listing application until such time as the SEC reopens to complete its review. It is expected that approval of Elemental Altus' listing application should be forthcoming following the end of the government shutdown and reopening of the SEC.

Tether Financing

The common shares issued to Tether pursuant to the Tether Financing are subject to a statutory hold period expiring on March 14, 2026. No finder's fees or commission were paid in connection with the Tether Financing.

The net proceeds of the Tether Financing are expected to be used to partially fund the purchase prices of two previously announced royalty acquisitions by Elemental Altus (being Laverton, in Western Australia and Dugbe, in Liberia) or, if such royalty acquisitions are paid using Elemental Altus' credit facility, to repay in full such facility to ensure the combined company remains entirely unleveraged and maintains sufficient capital for the combined entity, to pay off in full EMX's credit facility, to pay tax withholdings relating to certain of EMX's equity incentive securities under the Transaction and fund other transaction expenses of the Transaction, and to provide capital for the activities of the combined company.

The Tether Financing is a related party transaction under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") and Policy 5.9 of the TSX-V. As announced in Elemental Altus' news release dated November 4, 2025, shareholders of Elemental Altus approved, among other things, an ordinary resolution in accordance with the 'majority of the minority' shareholder approval requirements set forth in Part 8 of MI 61-101 and TSX-V Policy 5.9 The formal valuation requirement under MI 61-101 does not apply to the Tether Financing as Elemental Altus has relied on the exemption therefrom contained at section 5.5(b) of MI 61-101.

Additional Information Required by Early Warning Reporting Requirements

Pursuant to the Transaction, Elemental Altus, indirectly by way of amalgamation of EMX and 1554829 B.C. Ltd. (a wholly owned subsidiary of Elemental Altus) acquired a total of 111,625,098 common shares of EMX, representing 100% of the issued and outstanding EMX common shares. Prior to the Transaction, Elemental Altus did not own any common shares of EMX. Each EMX common share was exchanged for 0.2822 common shares of Elemental Altus. In the aggregate, Elemental Altus issued to former holders of EMX common shares 31,500,450 Elemental Altus common shares. The purpose of the Transaction was to enable Elemental Altus to indirectly acquire all of the issued and outstanding EMX shares and create a go-forward combined company. EMX will file a notice pursuant to Section 4.9 of National Instrument 51-102 - Continuous Disclosure Obligations ("NI 51-102") in connection with the Transaction. To obtain a copy of the Early Warning Report filed in connection with this Transaction, please contact Elemental Altus at the address below.

David Cole

CEO

For further information, please contact:

Tara Vivian-Neal

Investor Relations

info@elementalaltus.com

1020 - 800 West Pender St., Vancouver, BC, Canada, V6C 2V6

www.elementalaltus.com

(OTCQX: ELEMF) (ISIN: CA28619K1093) (CUSIP: 28619K109)

About Elemental Altus Royalty Corp.

Elemental Altus is a new mid-tier, gold-focused streaming and royalty company with a globally diversified portfolio of 16 producing assets and more than 200 royalties, anchored by cornerstone assets and operated by world-class mining partners. Formed through the merger of Elemental Altus and EMX, the Company combines Elemental Altus's track record of accretive royalty acquisitions with EMX's strengths in royalty generation and disciplined growth. This complementary strategy delivers both immediate cash flow and long-term value creation, supported by a best-in-class asset base, diversified production, and sector-leading management expertise.

Elemental Altus will trade on the TSX Venture Exchange under the ticker "ELE", and on the OTQCX Best Market under the ticker symbol "ELEMF", until the completion of Elemental Altus' U.S. listing on Nasdaq.

Neither the TSX-V nor its Regulation Service Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this press release.

Cautionary note regarding forward-looking statements

This news release contains "forward-looking information" within the meaning of applicable Canadian securities laws and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995, (together, "forward-looking statements"), concerning the business, operations and financial performance and condition of the Companies. Forward-looking statements include, but are not limited to, statements with respect to completion of the name change application of Elemental Altus and the date the common shares of Elemental Altus will begin trading under the new CUSIP and ISIN, delisting of the common shares of EMX from the TSX-V and NYSE American and the timing thereof, EMX ceasing to become a reporting issuer in Canada, Elemental Altus' application to list its common shares on the Nasdaq and the timing thereof, the impact of the United States federal government shutdown on the Nasdaq listing process, the anticipated use of proceeds of the Tether Financing, the filing by EMX of a notice pursuant to Section 4.9 of NI 51-102; and Elemental Altus' growth strategy, including its ability to identify and capitalize on new royalty acquisition opportunities and expand its portfolio. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "plans," "expects" or "does not expect," "is expected," "budget," "scheduled," "estimates," "forecasts," "intends," "anticipates" or "does not anticipate," "believes," "projects" or variations of such words and phrases or state that certain actions, events or results "may," "could," "would," "might" or "will be taken," "occur" or "be achieved." Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made, and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Companies to be materially different from those expressed or implied by such forward-looking statements, including, but not limited to, the ability to successfully integrate the operations, assets, and management teams of Elemental Altus and EMX following the completion of the Transaction; volatility in the price of gold and other precious metals, discrepancies between anticipated and actual production by the Companies in their portfolio, risks inherent in the mining industry to which the Companies in their portfolio are subject, regulatory restrictions, activities by governmental authorities (including changes in taxation), currency fluctuations that could adversely impact revenues, and the accuracy of the mineral reserves, resources and recoveries set out in the technical data published by the Companies in their portfolio. Although management of the Companies have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. These factors include, but are not limited to, delays or inability to obtain regulatory approvals, changes in government policies or priorities, unexpected obstacles in the integration process, and challenges in acquiring or managing new royalty assets in line with the Companies' growth strategy. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Companies caution readers not to place undue reliance on forward-looking statements, as forward-looking statements involve significant risks and uncertainties. Forward-looking statements are inherently uncertain and involve assumptions, risks, and contingencies that may or may not materialize. Actual results and outcomes could vary significantly from those stated or implied. Forward-looking statements should not be read as guarantees of future performance or results and will not necessarily be accurate indications of whether or not the times at or by which such performance or results will be achieved. The Companies do not undertake to update any forward-looking statements except in accordance with applicable securities laws. Readers are directed to (A) Elemental Altus' Annual Information Form dated August 18, 2025, filed under Elemental Altus' profile on SEDAR+ at www.sedarplus.ca; and (B) EMX's Management's Discussion and Analysis for the six months ended June 30, 2025 and its Annual Information Form dated March 12, 2025 filed under EMX's profile on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/274274

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ELEMENTAL ALTUS AND EMX ANNOUNCE COMPLETION OF MERGER

Dow Jones Newswires

EMX Royalty

0.00%

VANCOUVER, BC, Nov. 13, 2025 /CNW/ - Elemental Altus Royalties Corp. ("Elemental Altus") and EMX Royalty Corporation ("EMX", and together with Elemental Altus, the "Companies") (NYSE American: EMX) announced today the closing of the previously announced merger of the Companies by way of a court-approved statutory plan of arrangement pursuant to the Business Corporations Act (British Columbia) (the "Transaction") following securityholder approval of EMX's shareholders and optionholders, Elemental Altus shareholder approval for connected matters (as respectively announced on November 4, 2025), and court-approval of the Transaction (as announced by EMX on November 10, 2025).

In connection with the Transaction, Elemental Altus will file today a name change application to change its name to "Elemental Royalty Corporation". It is anticipated that that the common shares of Elemental Royalty Corporation will commence trading on the TSX Venture Exchange (the "TSX-V") under the new CUSIP (28620K106) and ISIN (CA28620K1066) on November 14, 2025 under the ticker symbol "ELE" and on the OTCQX Best Market under the ticker symbol "ELEMF".

Additionally, Elemental Altus is pleased to announce the closing of the previously announced private placement financing with Tether Investments S.A. de C.V. ("Tether") pursuant to which Tether has purchased 7,502,502 common shares of Elemental Altus at a price of C$18.38 (US$13.33) per common share for aggregate gross proceeds of approximately US$100 million (the "Tether Financing").

David Cole commented: "At EMX, we have always believed that a diverse portfolio of mineral rights and royalties offers shareholders a powerful way to access both commodity price upside and exploration-driven growth. The completion of the EMX and Elemental Altus merger brings together our aligned commitment to value-accretive growth and strengthens our collective platform. With enhanced scale, broader diversification, and a stronger growth profile, and we believe that our combined entity delivers exposure to cornerstone current and future revenue-generating assets across the entire development pipeline and commodity spectrum. We look forward to creating further value for shareholders as we advance this next chapter together."

Frederick Bell commented: "The completion of the merger of Elemental Altus and EMX marks a watershed moment for our new company, Elemental Royalty Corporation. Together, we offer investors access to a peer-leading, revenue-generating royalty company, with a gold-focused, globally diversified portfolio of producing, near-term development, and exploration stage assets. We look forward to continuing to build on this exceptionally strong foundation as we assess new opportunities for further growth."

Further details of the Transaction and the Tether Financing are set out in EMX's Management Information Circular dated September 29, 2025 and Elemental Altus' Management Information Circular dated September 29, 2025 and the related continuous disclosure documents of the Companies, which are available under their respective profiles on SEDAR+ at www.sedarplus.ca, and, for EMX, on Edgar Next at www.sec.gov.

U.S. Listing

Elemental Altus has filed an application to list its common shares on Nasdaq Stock Market ("Nasdaq") under the ticker symbol "ELE". Due to the U.S. federal government shutdown, which presently includes the U.S. Securities and Exchange Commission ("SEC"), Nasdaq has advised that it cannot further advance Elemental Altus' listing application until such time as the SEC reopens to complete its review. It is expected that approval of Elemental Altus' listing application should be forthcoming following the end of the government shutdown and reopening of the SEC.

Tether Financing

The Tether Financing is a related party transaction under Multilateral Instrument 61-101 — Protection of Minority Security Holders in Special Transactions ("MI 61-101") and Policy 5.9 of the TSX-V. As announced in Elemental Altus' news release dated November 4, 2025, shareholders of Elemental Altus approved, among other things, an ordinary resolution in accordance with the 'majority of the minority' shareholder approval requirements set forth in Part 8 of MI 61-101 and TSX-V Policy 5.9 The formal valuation requirement under MI 61-101 does not apply to the Tether Financing as Elemental Altus has relied on the exemption therefrom contained at section 5.5(b) of MI 61-101.

Additional Information Required by Early Warning Reporting Requirements

Pursuant to the Transaction, Elemental Altus, indirectly by way of amalgamation of EMX and 1554829 B.C. Ltd. (a wholly owned subsidiary of Elemental Altus) acquired a total of 111,625,098 common shares of EMX, representing 100% of the issued and outstanding EMX common shares. Prior to the Transaction, Elemental Altus did not own any common shares of EMX. Each EMX common share was exchanged for 0.2822 common shares of Elemental Altus. In the aggregate, Elemental Altus issued to former holders of EMX common shares 31,500,450 Elemental Altus common shares. The purpose of the Transaction was to enable Elemental Altus to indirectly acquire all of the issued and outstanding EMX shares and create a go-forward combined company. EMX will file a notice pursuant to Section 4.9 of National Instrument 51-102 — Continuous Disclosure Obligations ("NI 51-102") in connection with the Transaction. To obtain a copy of the Early Warning Report filed in connection with this Transaction, please contact Elemental Altus at the address below.

David Cole

CEO

1020 — 800 West Pender St., Vancouver, BC, Canada, V6C 2V6

www.elementalaltus.com

TSX.V: ELE | OTCQX: ELEMF | ISIN: CA28619K1093 | CUSIP: 28619K109

About Elemental Altus Royalty Corp.

Neither the TSX-V nor its Regulation Service Provider (as that term is defined in the policies of the TSX-V.) accepts responsibility for the adequacy or accuracy of this press release.

Cautionary note regarding forward-looking statements

Risk Warnings and Disclaimers

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ELEMENTAL ALTUS ANNOUNCES Q3 RESULTS & INCREASED REVENUE GUIDANCE

Dow Jones Newswires

EMX Royalty

0.00%

VANCOUVER, BC, Nov. 12, 2025 /CNW/ - Elemental Altus Royalties Corp. ("Elemental Altus" or the "Company") announces its operating and financial results for the three and nine months ended September 30, 2025.

For complete details, please refer to the Financial Statements and associated Management Discussion and Analysis for the three and nine months ended September 30, 2025, available on SEDAR+ (www.sedarplus.ca) and the Company's website (www.elementalaltus.com). All amounts are in U.S. dollars unless otherwise indicated.

Financial Highlights

Royalty revenue of US$6.9 million and adjusted revenue1 of US$8.2 million, up 70% on Q3 2024
Record Operating Cash Flow plus Caserones dividends of US$5.0 million, up +78% on Q3 2024
Attributable Gold Equivalent Ounces1 ("GEO") of 2,362 ounces, up 22% on Q3 2024 and adjusted EBITDA1 of US$6.2 million, up 67% on Q2 2024
Revenue guidance increased for the second time to US$42 million at the midpoint, based on a US$4,000/oz gold price for Q4 2025
Merger with EMX Royalty Corporation ("EMX") expected to close in November, forming a new mid-tier precious metals focused royalty company

Financial Performance for the 3 and 9 months ended September 30, 2025 and 2024:

 
                       Three months ended    Nine months ended September 30, 
                        September 30, 
                            2025       2024              2025             2024 
                           $'000      $'000             $'000            $'000 
Income Statement 
Total revenue              6,863      3,725            27,596           10,804 
Adjusted revenue(1)        8,216      4,825            31,974           14,773 
Total net profit / 
 (loss)                    1,373        630             4,981            (498) 
Cash Flow Statement 
Cash flows from 
 operations plus 
 Caserones 
 dividends(1)              5,030      2,818            22,734            5,423 
Other Non-IFRS 
Measures 
Adjusted EBITDA(1)         6,190      3,702            26,445           10,342 
Total attributable 
 Gold Equivalent 
 Ounces ("GEO") 
 (1)                       2,362      1,941            10,136            6,436

Frederick Bell, CEO of Elemental Altus, commented:

"This quarter marks a major step-change for the Company as we solidify a powerful growth platform as an emerging mid-tier royalty company. Through the Laverton and Dugbe royalty acquisitions, supported by the upcoming cornerstone US$100 million investment from Tether, we've added high quality, long-life assets and expanded our optionality and value creation over uncapped gold royalties. Our pending merger with EMX promotes us into the mid-tier royalty league, giving us the scale, diversification and balance sheet to continue to expand the company's portfolio in an accretive manner for shareholders."

Outlook

Based on the pre-merger royalty portfolio, Elemental Altus is on track to meet the midpoint of record guidance of 11,600 to 13,200 GEOs, translating to increased record adjusted revenue of $42 million, based on a Q4 2025 average gold price of US$4,000/oz. Production has been weighted towards the first half of the year, driven by increased gold sales from the Korali-Sud royalty
This guidance represents a 38% increase in GEOs and 94% year-on-year increase in adjusted revenue at the mid-point of guidance compared to 2024, with full exposure to higher gold prices
EMX merger expected to complete in November 2025, creating a combined US$1bn royalty company, with a portfolio of over 200 assets
Tether Concurrent Financing of US$100 million to be completed in conjunction with EMX Merger

Investor Webcast

An investor webcast will be held on Friday, November 14, 2025, starting at 11am Eastern Time (8am Pacific Time) to discuss these results, followed by a question-and-answer session.

To join the live call, please follow the link below: https://app.webinar.net/oJRPdN0n14E

Corporate Update

EMX Merger

In September 2025, Elemental Altus signed a definitive arrangement agreement to merge with EMX, creating a combined mid-tier gold-focused royalty company with projected adjusted revenue of US$80 million in 2026
Concurrently, Tether Investments S.A. de C.V. ("Tether") and Elemental Altus have entered into a subscription agreement where Tether has agreed to purchase approximately 7.5 million Elemental Altus Shares at a post-consolidation price of C$18.38/share for aggregate gross proceeds of US$100 million
Both EMX and Elemental Altus shareholders have approved the respective transactions, with closing expected to take place in November 2025

Laverton Acquisition

In September 2025, Elemental Altus agreed to acquire an uncapped 2% Gross Revenue Royalty (GRR) over Genesis Minerals Limited's (ASX: GMD) Focus Laverton Project and an existing 2% GRR on Brightstar Resources Limited's (ASX: BRR) Jasper Hills Project in Western Australia for US$52 million, combining with the Company's existing royalty to create a cornerstone royalty in a Tier 1 jurisdiction
The Focus Laverton royalty covers 2.1 Moz Measured & Indicated plus 1.5 Moz Inferred Resources, adjacent to Genesis' operating Laverton mill, 99% on granted leases, providing near-term production exposure
Combined with the existing Laverton coverage the Company will hold a 2-4% GRR across the district, enhancing scale and creating exposure to a large licence package with strong exploration upside (300 km(2))

Dugbe Acquisition

In September 2025, Elemental Altus acquired an uncapped 2.0% Net Smelter Return (NSR) royalty (increasing to 2.5% under certain conditions) on Pasofino Gold Ltd's (TSX-V: VEIN) Dugbe Project in Liberia for US$16.5 million upfront and a contingent payment of up to US$3.5 million
Dugbe has 3.3 Moz Measured & Indicated Resources, 2.8 Moz Reserves and an expected 14-year mine life producing approximately 162koz gold per annum
Situated in Liberia's highly prospective Birimian belt; the royalty covers covering up to 1,257 km(2), providing exploration potential beyond the current resource base

Nasdaq Listing

Elemental Altus has filed an application to list its common shares on the Nasdaq Capital Market ("Nasdaq") under the ticker symbol "ELE"
Due to the ongoing United States federal government shutdown, which presently includes the U.S. Securities and Exchange Commission ("SEC"), the Nasdaq has advised that it cannot further advance the listing application until such time as the SEC reopens to complete its review
Elemental Altus expects that the Nasdaq approval of Elemental Altus's listing application should be forthcoming following the end of the government shutdown and reopening of the SEC and completion of its review process

Asset Update

Karlawinda

Q3 2025 gold production from Karlawinda were 32,318 ounces (Q3 2024: 25,559 ounces)
Capricorn announced FY 2026 guidance of 115,000 -- 125,000 ounces
Mining production rates continue at the required level for the Karlawinda Expansion Project, which once commissioned, is expected to increase gold production to 150,000 ounces per annum
Elemental Altus' uncapped 2% NSR royalty will provide up to approximately 3,000 GEOs annually based on the higher production rate
Karlawinda's mine life remains 10 years with significant further potential to increase Reserves and Resources

Caserones

In Q3 2025, the Company accrued adjusted royalty revenue of $1.35 million (Q3 2024: $1.1 million), based on reported sales of 29,290 tonnes of copper
Adjusted royalty revenue in Q3 2025 was lower than expected due to a copper concentrate shipment deferred from September to October, which will be reflected in Q4 2025 results
Copper production guidance increased to 127-133kt for 2025, driven by higher head grades and strong cathode production in Q3 2025, expected to continue into Q4 2025
During Q3 2025, exploration drilling continued at the Caserones pit targeting deep high-grade copper breccias, with additional drilling completed at Angelica, targeting copper sulphides beneath the existing Angelica oxide deposit

Korali-Sud (Diba)

Q3 2025 gold sales from Korali-Sud were 10,627 ounces (Q3 2024: nil)
2025 revenue has been heavily weighted towards H1 2025, lower revenue expected in Q4 2025
Approximately 108,000 ounces of attributable production from the Korali-Sud deposit are remaining at the higher 3% NSR royalty rate

Bonikro

Royalty attributable sales in Q3 2025 were 19,957 ounces (Q3 2024: 24,461 ounces) due to the majority of production being sourced from royalty linked areas
Bonikro remained on plan in the quarter, benefiting from mine sequencing into higher-grade zones and stable plant performance
Stripping at Pushback 5 is expected to expose higher-grade materials in Q4 2025, 2026, and 2027
There are approximately 360,000 payable ounces remaining until the royalty cap is reached

Wahgnion

The Wahgnion mine has been undergoing an external audit, during which royalty payments to royalty holders have been temporarily paused and the Q1, Q2 and Q3 2025 royalty statement has not yet been provided
The Company received all royalty statements from Wahgnion management for the 2024 financial year and received payment for the first two quarters of 2024, but has not yet received payment for the second half of 2024. In addition, the Company has not yet received the royalty statements for Q1, Q2, and Q3 2025 and therefore, the Company has not yet received the necessary information to support the recognition of royalty income for 2025. Royalty revenue earned in 2025 will be recognised in a subsequent reporting period once the royalty statement is received. As at September 30, 2025, the accrued income balance includes $1.1 million in post-tax royalty receivables from Wahgnion
The Company is in communication with Wahgnion's management and external auditors and expects royalty statements and payment to be received in full

Portfolio Payment s

In Q3 2025, the Company received US$1.9 million from Arizona Sonoran Copper (TSX: ASCU) following the buyback of a 0.14% NSR on the Cactus Project. Following the completion of the buyback, the Company retains a 0.54% NSR royalty interest in the project
Subsequent to the reporting period, the Company received US$2 million of milestone payments from Allied Gold Corp as part of the milestones achieved, with US$1 million outstanding. A further up to US$2 million in milestone payments is expected based on future production

Frederick Bell

CEO

www.elementalaltus.com

TSX.V: ELE | OTCQX: ELEMF | ISIN: CA28619K1093 | CUSIP: 28619K109

About Elemental Altus Royalties Corp.

Elemental Altus 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. The vision of Elemental Altus is to build a global gold royalty company, offering investors superior exposure to gold with reduced risk and a strong growth profile.

Qualified Person

Richard Evans, FAusIMM, is Senior Vice President Technical for Elemental Altus, and a qualified person under National Instrument 43-101 — Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical disclosure contained in this press release.

Notes

1. Non-IFRS Measures

The Company has included certain performance measures which are non-IFRS and are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. These non-IFRS measures do not have any standard meaning under IFRS and other companies may calculate measures differently.

Royalty revenue is received at zero cost. Distributions from associates related to Elemental Altus' effective royalty on Caserones are received net of Chilean taxes and have no other costs.

Adjusted Revenue and cash flow from operating activities

Adjusted revenue is a non-IFRS financial measure, which is defined as including gross royalty revenue from associated entities holding royalty interests related to Elemental Altus' effective royalty on the Caserones copper mine. Management uses adjusted revenue to evaluate the underlying operating performance of the Company for the reporting periods presented, to assist with the planning and forecasting of future operating results, and to supplement information in its financial statements. Management believes that in addition to measures prepared in accordance with IFRS such as revenue, investors may use adjusted revenue to evaluate the results of the underlying business, particularly as the adjusted revenue may not typically be included in operating results. Management believes that adjusted revenue is a useful measure of the Company performance because it adjusts for items which management believes reflect the Company's core operating results from period to period. Adjusted revenue is intended to provide additional information to investors and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. It does not have any standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers.

Adjusted depletion, adjusted tax expense and adjusted cash flow from operating activities are non-IFRS measures which include depletion, tax and dividends from the Caserones royalty asset in line with the recognition of adjusted revenue as described above.

Gold Equivalent Ounces

Elemental Altus' adjusted royalty, streaming, and other revenue is converted to an attributable gold equivalent ounce, or GEO, basis by dividing the royalty and other revenue from associates in a period by the average gold price for the same respective period, plus the net gold ounces received in the period from streaming investments. The presentation of this non-IFRS measure is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Other companies may calculate these non-IFRS measures differently. The production forecast was derived using information that is available in the public domain as at the date hereof, which included guidance and estimates prepared and issued by management of the operators of the mining operations in which Elemental Altus holds an interest. The production forecast is sensitive to the performance and operating status of the underlying mines. None of the information has been independently verified by Elemental Altus and may be subject to uncertainty. There can be no assurance that such information is complete or accurate.

Adjusted EBITDA

Adjusted EBITDA excludes the effects of certain other income/expenses and unusual non-recurring items. Adjusted EBITDA is comprised of earnings before interest, taxes, depletion, including depletion and taxes relating to share of profit from associate, and share-based compensation. Management believes that this is a useful measure of the Company's performance because it adjusts for items which may not relate to underlying operating performance of the Company and/or are not necessarily indicative of future operating results.

On behalf of Elemental Altus Royalties Corp.

Neither the TSX-V nor its Regulation Service Provider (as that term is defined in the policies of the TSX-V.) accepts responsibility for the adequacy or accuracy of this press release.

Cautionary note regarding forward-looking statements

This news release contains certain "forward looking statements" and certain "forward-looking information" as defined under applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology.

Forward-looking statements and information include, but are not limited to, statements with respect to the date that the name change is expected to become effective, whether shareholders will be required by their broker to exchange their issued certificate for a new certificate or take any other action in connection to the name change, the Company's ability to deliver a materially increased revenue profile with a lower cost of capital, the future growth, development and focus of the Company, and the acquisition of new royalties and streams. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies.

Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Elemental Altus to control or predict, that may cause Elemental Altus' actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the impact of general business and economic conditions, the absence of control over the mining operations from which Elemental Altus will receive royalties, risks related to international operations, government relations and environmental regulation, the inherent risks involved in the exploration and development of mineral properties; the uncertainties involved in interpreting exploration data; the potential for delays in exploration or development activities; the geology, grade and continuity of mineral deposits; the impact of the COVID-19 pandemic; the possibility that future exploration, development or mining results will not be consistent with Elemental Altus' expectations; accidents, equipment breakdowns, title matters, labour disputes or other unanticipated difficulties or interruptions in operations; fluctuating metal prices; unanticipated costs and expenses; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations; currency fluctuations; regulatory restrictions, including environmental regulatory restrictions; liability, competition, loss of key employees and other related risks and uncertainties. For a discussion of important factors which could cause actual results to differ from forward-looking statements, refer to the annual information form of Elemental Altus for the year ended December 31, 2024. Elemental Altus undertakes no obligation to update forward-looking statements and information except as required by applicable law. Such forward-looking statements and information represents management's best judgment based on information currently available. No forward-looking statement or information can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

SOURCE Elemental Altus Royalties Corp.

/CONTACT:

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EMX Acquires a Royalty on a Development-Stage Copper Asset in Chile

Newsfile Corp.

EMX Royalty

0.00%

Vancouver, British Columbia--(Newsfile Corp. - November 12, 2025) - EMX Royalty Corporation (NYSE American: EMX) ("EMX" or the "Company") is pleased to announce the acquisition of a 1.25% NSR royalty (the "Royalty") over the Puquios development stage copper project in north central Chile, located near the city of La Serena. The Puquios project is owned by Cuprum Resources Chile SpA, an operating company jointly owned by Camino Minerals Corp. (TSX-V: COR; "Camino") and Nittetsu Mining Co., Ltd of Japan ("Nittetsu"). EMX purchased the Royalty from Santiago Metals Upper Holdco LLC, a company owned by a fund advised by Denham Capital Management LP ("Denham"), which owned and operated the project prior to its sale to Camino and Nittetsu. Camino and Nittetsu each have skilled and experienced mine development teams, and Denham has also financed the construction and operation of numerous mining operations in Chile and elsewhere in the world. Nittetsu has notably operated in partnership with Inversiones Errazuriz to construct and operate the Atacama Kozan (Los Bronces) copper-gold mine in central Chile and is currently constructing the Arqueros copper mine in the La Serena region.

The Puquios project is a supergene copper deposit in the foothills of the Andean mountain range and overlies a partially explored porphyry copper-molybdenum deposit. The current Proven and Probable reserves for the supergene Puquios deposit are 26.0 Mt averaging 0.494% copper1. A Prefeasibility Study for the project was published in March 2025, and shows robust economics for the project, including projected production of 223 million pounds of copper over a 14.2 year mine life (see Camino News Release dated March 17, 2025). Cuprum has obtained the necessary permits to commence construction of the project (including water rights) and Camino and Nittetsu are currently arranging project financing. Camino has provided a recent project update, highlighting the scalability of the project and its development status (see Camino News Release dated Oct 30, 2025).

The supergene copper deposit is located within a hilltop overlying a more extensive primary porphyry copper deposit that has only seen limited drilling. The underlying porphyry deposit remains open in multiple directions and at depth. Additionally, Puquios is positioned within a more extensive belt of hydrothermal alteration and copper and gold occurrences with numerous areas of historic mining and exploration. This belt extends for at least 8 km east to west within the Royalty footprint. The underlying porphyry copper-molybdenum deposit and extensive mineralization trend at Puquios provide EMX with considerable exploration upside and discovery optionality. Camino and Nittetsu are also evaluating the potential for new leach technologies to beneficiate the underlying sulfide copper mineralization, with Nittetsu's technology demonstrating promising sulphide leaching results (also discussed in the Camino News Release dated Oct 30, 2025).

Commercial terms. EMX has paid Denham USD $6 million in exchange for the Royalty, with another USD $2 million payment due upon the commencement of construction of Puquios. Further, EMX has subscribed to a concurrent financing, where Camino is arranging a non-brokered private placement to raise total gross proceeds of CAD $5.5M for the advancement of Puquios through project financing and a final investment decision. EMX has subscribed to CAD $2.5 million of the financing for approximately 6.94 million shares at CAD $0.36 per share. EMX's position in Camino provides exposure to Camino's other exploration projects in Chile and Peru, notably including the Los Chapitos IOCG copper and gold project in Peru, also being explored in cooperation with Nittetsu.

1Notes on Mineral Reserves. The Mineral Reserves estimates for Puquios were reported in Camino News Release dated March 17, 2025 and were prepared by Jesse Aarsen, P.Eng. (who is also an Independent Qualified Person) using the 2014 CIM Definition Standards and have an effective date of September 21, 2021. The cut-off grade used for ore/waste determination is NSR >= US$5.59/t. Cut-off grade assumes US$3.19 /lb Cu, block recoveries from the block model, US$75/t cathode premium, 2% vendor royalty and US$0.30/lb SX/EW costs. The average associated metallurgical recovery for copper was modelled at 79%. Mineral Reserves were converted from Measured and Indicated Mineral Resources through the process of pit optimization, pit design, production schedule and are supported by a positive cash flow model. The Mineral Reserves reported are the tonnages delivered to the crusher, pre-delivery to the heap leach pad. Rounding as required by reporting guidelines may result in summation differences. Further information and details are available in the Puquios Project Technical Report entitled "Puquios Project - NI 43-101 Technical Report and Pre-feasibility Study, La Higuera, Coquimbo Region, Chile", with an effective date of January 24, 2025, which is available on SEDAR+ under Camino's filings. EMX has not performed sufficient work to verify the published data reported above, but EMX believes this information to be reliable and relevant.

More information on the Puquios project can be found at www.EMXroyalty.com.

Dr. Eric P. Jensen, CPG, a Qualified Person as defined by NI 43-101 and employee of the Company, has reviewed, verified and approved the disclosure of the technical information contained in this news release.

About EMX. EMX is a precious and base metals royalty company. EMX's investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company's common shares are listed on the NYSE American Exchange and TSX Venture Exchange under the symbol "EMX". Please see www.EMXroyalty.com for more information.

For further information contact:

David M. ColePresident and CEOPhone: (303) 973-8585Dave@EMXroyalty.com
Stefan WengerChief Financial OfficerPhone: (303) 973-8585SWenger@EMXroyalty.com
Isabel BelgerInvestor RelationsPhone: +49 178 4909039IBelger@EMXroyalty.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release

Forward-Looking StatementsThis news release may contain "forward looking statements" and "forward looking information" (together "forward-looking statements") that reflect the Company's current expectations and projections about its future results. These forward-looking statements may include statements regarding perceived merit of properties, expectations related to the Puquios copper deposit, mineral reserve estimates, strategic plans, market prices for metals, or other statements that are not statements of fact. When used in this news release, words such as "estimate," "intend," "expect," "anticipate," "will", "believe", "potential" and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company's future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company's actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include but are not limited to unavailability of failure to identify commercially viable mineral reserves, delays in the advancement and production at the Vittangi graphite project, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding and other factors.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company's MD&A for the quarter ended June 30, 2025 (the "MD&A"), and the most recently filed Annual Information Form ("AIF") for the year ended December 31, 2024, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedarplus.ca and on the SEC's EDGAR website at www.sec.gov. EMX does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/274104

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Camino Announces C$5.6 Million Investment with Strategic Investors

Acceswire

EMX Royalty

0.00%

Not for distribution to United States newswire services or for release publication, distribution or dissemination, directly or indirectly, in whole or in part, in or into the United States.

VANCOUVER, BC / ACCESS Newswire / November 12, 2025 / Camino Minerals Corporation (OTCID:CAMZF) ("Camino" or the "Company") is pleased to announce that it is arranging a non-brokered private placement to raise total gross proceeds of approx. C$5.6 Million (the "Financing"). The Financing will consist of the issuance of 15,554,666 common shares of the Company (each a "Share") at a price per Share of C$0.36.

Participants in the financing will include two significant new shareholders, EMX Royalty Corp. ("EMX") and Continental General Insurance Company ("CGIC").

Based in Austin, Texas, CGIC is one of the largest shareholders of Camino's partner, Nittetsu Mining. CGIC is a life and health insurance company founded in 1961, and is an active investor in producing and development-stage mining assets globally.

EMX Royalty, based in Vancouver, Canada, has also purchased in a separate transaction with a company owned by a fund advised by Denham Capital Management LP ("Denham Capital") an existing 1.25% NSR royalty over Camino and Nittetsu's Puquios copper and gold claims in Chile for cash payments totalling US$8 Million (see EMX news release dated Nov 12, 2025). EMX has a portfolio of over 130 royalties and is completing a merger with Elemental Altus Royalties Corp. ("Elemental Altus") supported by a $US100 million investment by Tether Investments S.A. de C.V. ("Tether"). Denham Capital is a leading natural resources investor with approximately US$2 billion under management in the mining sector and, via the funds it manages, is Camino's largest shareholder. Following closing of the placement and the issue of the Additional Vendor Shares (as defined and described below), Denham Capital will own approximately 41% of Camino.

"The strategic funding from CGIC and EMX along with continued support from our existing partners Denham Capital and Nittetsu Mining, sets Camino on the path to first copper production at our Puquios project in Chile," said Jay Chmelauskas, CEO of Camino. "These strategic investors in Camino have a track record of strong performance in the mining sector aligning with Camino's value creation strategy for achieving a re-rating of our Puquios copper development in Chile, and for the on-going copper exploration drilling underway in Peru."

Camino and Nittetsu are progressing development of the Puquios copper mine in Chile, with the objective of making a production decision in the spring of 2026, and are in discussions with Japanese lenders for a project development loan. The net proceeds from the Financing will be allocated towards corporate working capital, legal expenses, engineering studies, project financing costs, general administrative expenses and other expenses. All securities issued and sold under the Financing will be subject to a hold period expiring four months and one day from their date of issuance, in accordance with applicable Canadian securities laws.

Completion of the Financing remains subject to the receipt of all necessary regulatory approvals, including approval of the TSX Venture Exchange. Subject to the receipt of all necessary regulatory approvals, the Financing will close on or about November 14, 2025.

Separately, the Company also announces that it intends to issue an aggregate of 5,833,334 Shares (the "Additional Vendor Shares") to Santiago Metals Investment Holdings II SLU and Santiago Metals Investment Holdings II-A LLC (the "Vendors") on the Closing Date, subject to the completion of the Financing. The Shares will be issued in accordance with the terms of, and in furtherance of the Company's outstanding obligations under, the previously entered into share purchase agreement dated October 4, 2024, as amended, among Nittetsu Mining Co., Ltd., the Vendors, the Company and Camino-Nittetsu Mining Chile SPA, at a deemed issue price of $0.36 per Share. The issuance of the Additional Vendor Shares remains subject to the acceptance of the TSX Venture Exchange.

TSXV Policy 5.9 and MI 61-101

Insiders of the Camino (being, Mr. Christopher Adams, Chair of the board of directors of the Company, Ziad Saliba, a director of the Company, and Mr. Shawn Turkington, the Chief Financial Officer of the Company) are expected to acquire an aggregate of 276,888 Shares in the Financing (approx. $99,680), which participation constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") and Policy 5.9 - Protection of Minority Security Holders in Special Transactions of the TSX Venture Exchange (which incorporates the requirements of MI 61-101). However, such participation is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as neither the fair market value of the Shares acquired by the insiders of the Company, nor the consideration for the Shares paid by such insiders, exceed 25% of the Company's market capitalization for the purposes of MI 61-101.

The exact extent of participation by insiders of the Company in the Financing was not determined sufficiently in advance of the anticipated closing date thereof, and accordingly, the Company expects to file a material change report relating to the Financing less than 21 days from closing of the Financing, which is reasonable and necessary in the circumstances to meet the Company's capital requirements.

About Camino

Camino is a discovery and development stage copper exploration company. Camino is focused on developing copper producing assets such as the construction-ready Puquios copper mine in Chile, and advancing its IOCG Los Chapitos copper project located in Peru through to resource delineation and development, and to add new discoveries. Camino has also permitted the Maria Cecilia copper porphyry project for exploration discovery drilling to add to its NI 43-101 resources. In addition, Camino has increased its land position at its copper and silver Plata Dorada project. Camino seeks to acquire a portfolio of advanced copper assets that have the potential to deliver copper into an electrifying copper intensive global economy. For more information, please refer to Camino's website at www.caminocorp.com.

ON BEHALF OF THE BOARD	For further information, please contact:
/S/ "Jay Chmelauskas"	Camino Investor Relations
President and CEO	info@caminocorp.com
	Tel: (604) 493-2058

Cautionary Note Regarding Forward Looking Statements

Certain disclosures in this release constitute forward-looking information within the meaning of applicable securities laws. Forward-looking statements are included to provide information about management's current expectations and plans that allows investors and others to have a better understanding of the Company's business plans and financial performance and condition. All statements, other than statements of historical fact included in this release are forward-looking statements that involve risks and uncertainties. Forward-looking information is typically (though not always) identified by words such as "plan", "expect", "estimate", "intend", "anticipate", "believe", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. In making the forward-looking disclosures in this release, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company. Forward-looking information in the release includes the terms and conditions of the Financing (including the use of proceeds therefrom and the anticipated closing date thereof), the timing and ability of the Company to obtain the final approval of the Financing from the TSX Venture Exchange, and the anticipated timing for making a production decision for the Puquios copper mine in Chile. Although the Company considers the assumptions underlying such forward-looking information to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking information in this release is subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking information. Such risk factors include, among others, that actual results of the Company's exploration activities may be different than those expected by management, that the Financing may not be fully subscribed or completed on the terms described herein, that the Company may be unable to obtain or will experience delays in obtaining any required authorizations and approvals and the state of equity and commodity markets. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.

SOURCE: Camino Minerals Corp

View the original press release on ACCESS Newswire

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EMX Receives Court Approval for Arrangement with Elemental Altus

Newsfile Corp.

EMX Royalty

0.00%

Vancouver, British Columbia--(Newsfile Corp. - November 10, 2025) - EMX Royalty Corporation (NYSE American: EMX) (FSE: 6E9) (the "Company" or "EMX") is pleased to announce that the Supreme Court of British Columbia has granted the final order in connection with the Company's plan of arrangement (the "Arrangement") with Elemental Altus Royalties Corp. (OTCQX: ELEMF) ("Elemental Altus") and 1554829 B.C. Ltd. ("Acquireco"), pursuant to which Elemental Altus will, among other things, indirectly through an amalgamation of EMX with Acquireco, acquire all of the issued and outstanding common shares of EMX.

Elemental Altus has filed an application to list its common shares on the Nasdaq Capital Market ("Nasdaq") under the ticker symbol "ELE". Due to the ongoing United States federal government shutdown, which presently includes the U.S. Securities and Exchange Commission ("SEC"), the Nasdaq has advised that it cannot further advance the listing application until such time as the SEC reopens to complete its review. EMX and Elemental Altus currently expect that the Nasdaq approval of Elemental Altus's listing application should be forthcoming following the end of the government shutdown and reopening of the SEC and completion of its review process. Until trading commences on the Nasdaq, Elemental Altus's common shares will continue to trade on the TSX Venture Exchange under the ticker symbol "ELE" and on the OTCQX Best Market under the ticker symbol "ELEMF".

Subject to obtaining all required approvals and the satisfaction or waiver of all required conditions, the Arrangement is expected to close by mid-November 2025. Following closing of the Arrangement, the EMX shares are expected to be de-listed from the TSX Venture Exchange, NYSE American Exchange and Frankfurt Stock Exchange (the "De-Listing"). Following the De-Listing, it is anticipated that EMX will apply to cease to be a reporting issuer under applicable Canadian securities laws.

For a more detailed description of the Arrangement, please refer to EMX's management information circular dated September 29, 2025, available under the Company's profile on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov, and on the Company's website at https://emxroyalty.com/investors/special-meeting/.

On Behalf of EMX

David Cole

CEO

For further information, contact:

David M. ColePresident and CEOPhone: (303) 973-8585 Dave@EMXroyalty.com
Stefan WengerChief Financial OfficerPhone: (303) 973-8585 SWenger@EMXroyalty.com
Isabel BelgerInvestor RelationsPhone: +49 178 4909039 IBelger@EMXroyalty.com

About EMX

EMX is a precious and base metals royalty company. EMX's investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The EMX shares are listed on the NYSE American Exchange and TSX-V under the symbol "EMX". Please see www.EMXroyalty.com for more information.

Cautionary Note Regarding Forward-Looking Information

This press release may contain "forward-looking information" within the meaning of applicable Canadian securities laws and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995, (collectively, "forward-looking statements") that reflect the Company's current expectations and projections about its future results. These forward-looking statements may include statements regarding EMX and the combined company's plans and expectations with respect to the proposed Arrangement and the anticipated impact of the Arrangement on the combined company's results of operations, financial position, growth opportunities and competitive position. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, identified by words or phrases such as "expects," "anticipates," "believes," "plans," "projects," "targets," "schedules," "forecasts," "budget," "estimates," "assumes," "intends," "strategy," "goals," "objectives," "potential," "possible" or variations thereof or stating that certain actions, events, conditions or results "may," "could," "would," "should," "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements.

Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: the risk that any other condition to closing may not be satisfied or waived; the risk that the closing of the Arrangement might be delayed or not occur at all; the risk that either EMX or Elemental Altus may terminate the definitive arrangement agreement and either EMX or Elemental Altus is required to pay a termination fee to the other party; potential adverse reactions or changes to business or employee relationships of EMX or Elemental Altus, including those resulting from the completion of the Arrangement; the diversion of management time on Arrangement-related issues; the risk of tax consequences for Securityholders and Elemental Altus securityholders if the Arrangement does not qualify as a tax-deferred reorganization; the ultimate timing, outcome and results of integrating the operations of EMX and Elemental Altus; the effects of the business combination of EMX and Elemental Altus, including the combined company's future financial condition, results, operations, strategy and plans; the ability of the combined company to realize anticipated synergies in the timeframe expected or at all; changes in capital markets and the ability of the combined company to finance its activities in the manner expected; the inability to satisfy the listing requirements to be listed on a U.S. stock exchange; the possibility that EMX or Elemental Altus fail to comply with applicable laws prior to the Arrangement which could subject the combined company to penalties; the risk that EMX or Elemental Altus may not receive the required stock exchange and regulatory approvals to effect the Arrangement; the risk of any litigation relating to the Arrangement; the fact that business disruption may be greater than expected following the public announcement or consummation of the Arrangement; the risk that the combined company does not result in a larger, well capitalized entity with a lower cost of capital which could prevent the combined company from pursuing further accretive royalty opportunities in the market; the absence of control over mining operations from which the Company will receive royalties or stream interests from; and risks related to those mining operations and royalty and stream interests, including risks related to international operations, government and environmental regulation, actual results of current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined, risks in the marketability of minerals, fluctuations in the price of gold and other commodities, fluctuation in foreign exchange rates and interest rates, stock market volatility, as well as those factors discussed in the EMX risk factors listed in EMX's Management's Discussion and Analysis for the six months ended June 30, 2025 and its Annual Information Form dated March 12, 2025 filed under EMX's profile on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov.

EMX's forward-looking statements are based on the applicable assumptions and factors management considers reasonable as of the date hereof, based on the information available to management at such time. Although the Company has attempted to identify important factors that could cause actual results to differ materially from the Company in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements that are contained or incorporated by reference, except in accordance with applicable securities laws.

Neither the TSX-V nor its Regulation Service Provider (as that term is defined in the policies of the TSX-V.) accepts responsibility for the adequacy or accuracy of this press release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/273715

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EMX Announces the Receipt of $3.4M and a 2.5% NSR Royalty on the Close of the Superior West Option Agreement with Kennecott Exploration

Newsfile Corp.

Vancouver, British Columbia--(Newsfile Corp. - November 6, 2025) - EMX Royalty Corporation (NYSE American: EMX) (the "Company" or "EMX") is pleased to announce that Kennecott Exploration Company ("KEX"), a subsidiary of the Rio Tinto Group, has exercised its option to purchase EMX's Superior West Project, located in central Arizona, and in connection therewith EMX is in receipt of the final option payment of $3,407,383 and has been granted a 2.5% NSR royalty over the project.

EMX acquired the Superior West Project by staking open ground after target generation activities in the greater Superior and Globe-Miami porphyry districts, which ultimately resulted in the acquisition of multiple key property positions within these prolific districts. The project was optioned to KEX in 2015 and advanced through various field programs. KEX's exercise of the option to purchase highlights the strength of EMX's royalty generation model, in which targets and related mineral rights are acquired at minimal cost to shareholders, then advanced through partnerships with leading exploration and mining companies. EMX receives cash payments and retains royalty interests, expanding its growing global portfolio.

For further information, contact:

David M. ColePresident and CEOPhone: (303) 973-8585Dave@EMXroyalty.com
Stefan WengerChief Financial OfficerPhone: (303) 973-8585SWenger@EMXroyalty.com
Isabel BelgerInvestor RelationsPhone: +49 178 4909039IBelger@EMXroyalty.com

Forward-Looking Statements

This news release may contain "forward-looking statements" that reflect the Company's current expectations and projections about its future results. These forward-looking statements may include statements regarding perceived merit of properties, exploration results and budgets, mineral reserves and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as "estimate," "intend," "expect," "anticipate," "will", "believe", "potential" and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company's future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company's actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company's MD&A for the quarter June 30, 2025 (the "MD&A"), and the most recently filed Annual Information Form ("AIF") for the year ended December 31, 2024, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR+ at www.sedarplus.ca and on the SEC's EDGAR website at www.sec.gov.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/273371

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