Mr. Tim Gallagher reports

ROYALTIES INC. GRANTS STOCK OPTIONS

Royalties Inc. has approved the grant of 10 million incentive stock options to directors, officers, consultants and service providers pursuant to the company's stock option plan. All the stock options are exercisable at a price of 10 cents per share for a period of two years from April 24, 2026, and are subject to approval by the Canadian Securities Exchange. Prior to this grant, the company had no stock options outstanding.

About Royalties Inc.

• Royalties owns a 100-per-cent interest, subject to a 1.5-per-cent NSR (net smelter return) owned as a separate asset, on the Bilbao silver-zinc-lead project located in the state of Zacatecas, Mexico.
• Royalties owns 88 per cent of the outstanding shares of Minera Portree de Zacatecas S.A. de C.V (MPZ), which holds a court confirmed claim (twice) to a 2-per-cent net smelter royalty established in 2002 on five mining concessions called the Portree claims, a portion of which is on the Mala Noche footwall zone, the main source of production at the Cozamin mine where Capstone Copper Corp. has been mining since 2010. Capstone attempted to assign this royalty to themselves without the knowledge, consent or proper payment to MPZ, the longstanding and rightful owner since 2002.
• Royalties Inc. has a 5-per-cent stake in Music Royalties Inc. (MRI), which has paid out over $15-million in 75 monthly dividends since 2019 from 31 cash-flowing catalogues with 7,000 songs with a 7.2-per-cent annual yield.

We seek Safe Harbor.