Electric Royalties Ltd. provided the following update on its royalty portfolio. Highlights since the Company's previous update on January 24, 2024: Rana Nickel-Copper-Cobalt Project (1.0% Net Smelter Royalty) - On February 5, 2024, Global Energy Metals Corporation and its strategic partner, Kingsrose Mining Limited, announced analytical results from drill holes at the Bruvann, Ranbogen, and Malmhaugen prospects at the Rana Project in Norway. New zones of nickel sulphide mineralization have been discovered, some in areas previously considered unpro prospective.

Several priority conductive geophysical anomalies remain to be drilled in 2024, and continued electromagnetic geophysical surveys are planned to generate additional targets within the large and underexplored Rana intrusion. Electric Royalties is relying on the information provided by Global Energy Metals and is unable to. verify the reported drill data.

Chubb Lithium Project (2.0% Gross Metal Royalty) -. On February 7, 2024, Burley Minerals Ltd. ("Burley") announced drill results from the Chubb Project in Quebec, Canada. Assay results from holes drilled at the Main Dyke within the Chubb Central Mineralized Zone demonstrated that spodumene mineralization exceeds a strike length of 600 meters and remains open down plunge.

Additionally, one hole intersected cesium-bearing mineral pollucite in the Main Dyke, indicating an evolved lithium-cesium-tantalum pegmatite system which has the potential to add significant value to the project, according to Burley. Electric Royalties is relyingOn February 22, 2024, Green Technology Metals Limited ("Green Technology Metals") provided a strategic update on the Seymour Lake Project in Ontario, Canada. Green Technology Metals stated that it is focused this year on advancing Seymour Lake into production, with emphasis on reaching a final investment decision, obtaining all necessary permits for construction and engaging in government and strategic initiatives aimed at securing project funding.

These workstreams are deemed as budget 'light' activities and can be progressed without large expenditure. Green Technology Metals plans to update the mineral resource estimate for Seymour Lake for inclusion in the upcoming Feasibility Study, which is expected to be completed in the second half of 2024. Battery Hill Manganese Project (2.0% gross Metal Royalty).

On February 1, 2024, Manganese X Energy Corp. (TSXV: MN) ("Manganese X") announced it is advocating for the Canadian government to include manganese in its prioritized Critical Mineral List, which currently includes lithium, graphite, nickel, cobalt, copper and rare earth minerals. The prioritized minerals represent the greatest opportunity to fuel domestic manufacturing and will be the initial focus of federal investments.

Manganese X is the operator of the Battery Hill Project in New Brunswick, Canada, one of the largest manganese carbonate deposits in North America which has the potential to be a substantial contributor to the supply chain of high-purity manganese.