Mr. Joseph de la Plante reports

EVOLVE ROYALTIES PROVIDES UPDATE ON HIGHLAND VALLEY COPPER MINE ROYALTY

Teck Resources Ltd. reported on Oct. 24, 2026, that strike action by United Steelworkers (USW) Local 7619 has commenced at Teck's Highland Valley copper (HVC) mine. Teck has further reported that operations at the HVC mine are currently continuing at a reduced capacity and the impact on overall production will depend on the duration of the labour action. Teck also stated that contingency plans are in place, with a priority on maintaining safety and environmental management during labour action and that it remains committed to reaching a collective agreement that is fair and reasonable for employees and supports the continuing viability of the operations.

Evolve owns a 0.51-per-cent interest in net profits on the HVC mine. The company is closely monitoring developments and will provide further updates as deemed appropriate or as required under Canadian securities laws.

About Evolve Royalties Ltd.

Evolve Royalties is a copper-focused royalty company engaged in the acquisition and management of high-quality royalty, stream and other similar interests in base and critical metals that sustain both traditional and modern economic activity. The company's strategy is to build a diversified portfolio of long-life, cash-flowing royalties while maintaining exposure to long-term commodity upside. The company's common shares are listed and posted for trading on the Canadian Securities Exchange under the symbol EVR and on the OTCQX Best Market under the symbol EVRYF.

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