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VANCOUVER, BRITISH COLUMBIA – May 30, 2022 – Electric Royalties Ltd. (TSXV: ELEC) (OTCQB: ELECF) (“Electric Royalties” or the “Company”) is pleased to announce closing of the previously announced Sleitat Tin-Silver Royalty acquisition (see news release dated March 10, 2022) with a wholly-owned subsidiary of Cornish Metals Inc. (TSXV: CUSN) (AIM: CUSN) to acquire a 1% Net Smelter Royalty (the “1% NSR”) on mining claims comprising core strategic tenure at the Sleitat Mountain Tin-Silver deposit in Southwestern Alaska (the “Sleitat Project” or “Sleitat”).
The Sleitat Project was originally discovered by Cominco American Inc. in 1983 and is comprised of claims totalling 1,425 hectares. The greisen bodies which host the mineralization at Sleitat are divided into a north and a south zone. The north zone has been investigated by a total of 14 holes in three drill campaigns and has demonstrated that the tin mineralization is shallow thus potentially amenable to open pit mining. The north zone is open laterally and at depth while the south greisen remains completely untested to date.
The Company has issued 1,000,000 common shares of the Company (“Consideration Shares”) and made a cash payment of $100,000. The Consideration Shares will be subject to a voluntary lock-up agreement which provides that 50% of the Consideration Shares will be subject to a hold period of 6 months and 50% of the Considerations Shares being subject to a hold period of 12 months.
Investor Relations Engagement
Electric Royalties also announces that it has retained the services of Renmark Financial Communications Inc. to assist with its investor outreach and investor relations activities for a period of five months beginning June 1, 2022, and monthly thereafter. In consideration of the services to be provided, monthly fees of C$9,000 will be incurred.
David Gaunt, P.Geo., a qualified person who is not independent of Electric Royalties, has reviewed and approved the technical information in this release.
About Electric Royalties Ltd.
Electric Royalties is a royalty company established to take advantage of the demand for a wide range of commodities (lithium, vanadium, manganese, tin, graphite, cobalt, nickel, zinc and copper) that will benefit from the drive toward electrification of a variety of consumer products: cars, rechargeable batteries, large scale energy storage, renewable energy generation and other applications.
Electric vehicle sales, battery production capacity and renewable energy generation are slated to increase significantly over the next several years and with it, the demand for these targeted commodities. This creates a unique opportunity to invest in and acquire royalties over the mines and projects that will supply the materials needed to fuel the electric revolution.
Electric Royalties has a growing portfolio of 19 royalties, including one royalty that currently generates revenue. The Company is focused predominantly on acquiring royalties on advanced stage and operating projects to build a diversified portfolio located in jurisdictions with low geopolitical risk, which offers investors exposure to the clean energy transition via the underlying commodities required to rebuild the global infrastructure over the next several decades towards a decarbonized global economy.
For further information, please contact:
Phone: (604) 364‐3540
Email: [email protected]
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), nor any other regulatory body or securities exchange platform, accepts responsibility for the adequacy or accuracy of this release.
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