Ms. Alexandra Sherron reports

EMPRESS ANNOUNCES ACQUISITION OF NORTH AMERICAN ROYALTY PORTFOLIO

Empress royalty Corp. has entered into a royalty purchase agreement with Almadex Minerals Ltd. for the acquisition of a portfolio of 14 preproduction net smelter return (NSR) royalties from Almadex. The portfolio includes royalty interests on mineral properties in Canada, the United States and Mexico.

"By acquiring these royalties at an early stage, we are expanding Empress's pipeline of future royalty opportunities while maintaining our disciplined approach to capital allocation," stated Alexandra Woodyer Sherron, chief executive officer and president of Empress. "This portfolio gives Empress exposure to 14 royalties across North America. We see potential upside across a number of these projects and believe this acquisition meaningfully expands our pipeline of future royalty interests. Our strengthened balance sheet and increased financial flexibility now allow us to selectively pursue opportunities like this when they offer compelling long-term value. While our primary investment focus remains on producing and near-term producing precious metal royalties and streams, we will continue to capitalize on exceptional opportunities that complement our portfolio and have the potential to generate significant long-term shareholder value."

The portfolio provides diversified exposure across three premier mining jurisdictions. Supported by well-financed operators including Alamos Gold, McEwen Mining, Kodiak Copper and Westhaven Gold, the portfolio includes projects with active exploration and development programs as well as clear medium to long-term project catalysts. The royalty interests provide long-term optionality and upside potential without requiring additional capital commitments from Empress. The projects to which Empress will hold a royalty have the potential to benefit from district-scale exploration, operator-driven project advancement and jurisdictional strength.

Key portfolio highlights

Prospect Valley royalty and Skoonka Creek royalty (British Columbia, Canada)

• Prospect Valley royalty and Skoonka Creek royalty (British Columbia, Canada) -- The Prospect Valley royalty and Skoonka Creek royalty each consist of a 2.0-per-cent NSR covering Westhaven Gold Corp.'s 100-per-cent-owned Prospect Valley and Skoonka Creek projects, respectively, located within the Spences Bridge gold belt in Southern British Columbia. The projects form part of Westhaven's district-scale land package, where Westhaven controls more than 60,000 hectares prospective for epithermal gold mineralization. In February, 2026, Westhaven completed a strategic earn-in agreement with Dundee Corp., under which Dundee may earn up to a 60-per-cent interest in the four-project district by financing up to $85-million in staged project expenditures, including a firm commitment to invest $30-million during the initial phase (Westhaven press release dated Feb. 23, 2026). The partnership combines Dundee's financial commitment with Westhaven's experienced leadership and technical team and is expected to accelerate exploration and development across the district (Westhaven press release dated Feb. 23, 2026). Continued exploration success at Westhaven's flagship Shovelnose gold project and the broader Spences Bridge gold belt has the potential to enhance the long-term value of the Prospect Valley and Skoonka Creek royalties.
• Dillard royalty (British Columbia, Canada) -- The Dillard royalty is a 2.0-per-cent NSR covering mineral claim 249368, which forms part of Kodiak Copper Corp.'s 100-per-cent-owned MPD copper-gold project in Southern British Columbia. The MPD project is a district-scale copper-gold porphyry system comprising multiple mineralized zones across a large, consolidated land package. In January, 2026, Kodiak announced its inaugural National Instrument 43-101 mineral resource estimate for MPD, which included the Dillard deposit as one of seven resource areas (Kodiak press release dated Jan. 23, 2026). The Dillard royalty provides Empress with exposure to an exploration project operated by an experienced management team with a record of discovery and value creation. Kodiak announced that its 2026 drill program is targeting further resource expansion at Dillard, with an updated mineral resource estimate anticipated in Q1 2027. Continued drilling, resource growth and advancement of the broader MPD project have the potential to enhance the long-term value of the royalty.
• Los Venados royalty (Sonora, Mexico) -- The Los Venados royalty is a 2.0-per-cent NSR covering the Los Venados property, located within Alamos Gold Inc.'s producing Mulatos district in Sonora, Mexico. Los Venados is strategically located approximately one to two kilometres from the Mulatos open pit mine and near the high-grade Puerto Del Aire (PDA) underground development project, which is expected to begin production in mid-2027 (Alamos Gold press release dated Sept. 4, 2024). The Mulatos district is a long-established gold-producing district with existing infrastructure, multiple mineralized zones and significant exploration potential. In 2025, Alamos consolidated ownership of Los Venados through its subsidiary, Minas de Oro Nacional, further integrating the property into its broader Mulatos district growth strategy (Aloro Mining press release dated May 7, 2025). Alamos has announced that its continuing district-wide exploration program is focused on identifying additional higher-grade mineralization that could support future mill feed for PDA and extend the long-term production profile of the Mulatos district. Continued exploration success and advancement of PDA have the potential to enhance the long-term value of the Los Venados royalty.
• El Encuentro royalty (Sinaloa, Mexico) -- The El Encuentro royalty is a 2.0-per-cent NSR covering McEwen Inc.'s El Encuentro project, located approximately 10 kilometres from McEwen's El Gallo gold-silver complex in Sinaloa, Mexico. El Encuentro is situated in a productive gold-silver belt and covers an area of hydrothermal alteration and gold-silver mineralization, providing Empress with exposure to potential future growth within McEwen's broader regional land package. McEwen has disclosed that it is advancing the restart of the El Gallo complex through a phased redevelopment strategy, with construction targeted to begin in mid-2026 and phase 1 gold production targeted for mid-2027 (McEwen press release dated Dec. 16, 2025). The project benefits from proximity to established mining infrastructure and an experienced operator in Mexico. Continued advancement of the El Gallo restart and future regional exploration have the potential to enhance the long-term value of the El Encuentro royalty.
• Willow royalty (Nevada, United States) -- The Willow royalty is a 2.0-per-cent NSR covering Abacus Mining & Exploration Corp.'s 100-per-cent-owned Willow copper-gold property, located within the Yerington copper district in Nevada, one of North America's premier porphyry copper belts. The project is prospective for copper-gold porphyry mineralization and has been advanced through geological, geochemical and geophysical surveys, together with drilling that intersected the Luhr Hill granite, the host rock associated with known porphyry copper deposits in the district (Abacus press release dated Oct. 28, 2021). Continued exploration and drilling have the potential to enhance the long-term value of the Willow royalty.

Transaction terms

Under the terms of the agreement, total consideration for the royalty portfolio is $2.5-million (U.S.), payable as to $1-million (U.S.) in cash and $1.5-million (U.S.) through the issuance of 2,562,802 common shares of the company. The consideration shares will be issued on closing of the transaction at a deemed price of 83 cents per share, calculated based on the 20-day VWAP (volume-weighted average price) at the trading day immediately prior to the date of execution of the agreement and converted at the prevailing Bank of Canada exchange rate.

The consideration shares will be subject to a statutory hold period of four months and one day from the date of closing of the transaction, in accordance with applicable Canadian securities laws.

Closing of the transaction is expected to occur before Aug. 31, 2026, and is subject to the satisfaction of customary closing conditions, including the receipt of all necessary corporate and regulatory approvals, including the approval of the TSX Venture Exchange.

Qualified person

Grant Carlson, PEng, a qualified person as defined by National Instrument 43-101 and a consultant to the company, has reviewed, verified and approved the disclosure of the technical information contained in this news release.

About Empress Royalty Corp.

Empress is a global royalty and streaming creation company providing investors with a diversified portfolio of gold and silver investments. Empress has built a portfolio of precious metal investments and is actively investing in mining companies that require additional non-dilutive capital. The company has a strategic partnership with Endeavour Financial, which allow Empress to access global investment opportunities while benefiting from mining finance expertise and deal structuring. Empress is focused on continuously creating long-term shareholder value through the proven royalty and streaming business model.

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