Mr. David Cole reports

ELEMENTAL ROYALTY ANNOUNCES NORMAL COURSE ISSUER BID

Elemental Royalty Corp. has filed notice of intention to make a normal course issuer bid (NCIB) with the Toronto Stock Exchange and intends to transact the NCIB through the facilities of the TSX, the Nasdaq Capital Market, other designated exchanges and/or alternative trading systems in Canada and the United States or by such other means as may be permitted under applicable securities laws during the term of the NCIB.

Pursuant to the NCIB, Elemental may, during a 12-month period commencing June 15, 2026, and ending June 14, 2027, purchase up to 3,222,537 common shares in the capital of the company, being up to 5 per cent of Elemental's issued and outstanding shares as at June 4, 2026.

The board of directors of Elemental believes that, from time to time, the market price of the shares may not fully reflect the underlying value of Elemental's royalty portfolio, cash flow profile and growth prospects. Accordingly, Elemental believes that the NCIB provides an additional capital allocation tool and that purchasing its shares may represent an appropriate and desirable use of corporate funds and an opportunity to enhance shareholder value.

The average daily trading volume (ADTV) of the company's shares on the TSX for the period from April 7, 2026, to June 4, 2026, as calculated in accordance with TSX rules, was 43,645 shares. Accordingly, purchases made through the facilities of the TSX will be subject to a daily purchase limit of 10,911 shares, representing 25 per cent of the ADTV, subject to certain permitted exceptions under TSX rules for larger block purchases. In addition to purchases made through the facilities of the TSX, the company intends to purchase shares through the facilities of the Nasdaq and other designated exchanges and/or alternative trading systems in Canada and the United States as part of its NCIB, subject to applicable securities laws and exchange requirements. Given that the substantial majority of the company's trading volume is conducted on Nasdaq, the company expects that the majority of repurchases under the NCIB will be made through the facilities of Nasdaq.

The price that Elemental will pay for any such shares will be the prevailing market price at the time of acquisition. The number of shares which may be purchased pursuant to the NCIB, and the timing of any such purchases, will be determined by the company's management. Purchases under the NCIB will be made from time to time by Raymond James Ltd. on behalf of Elemental. All shares purchased pursuant to the NCIB will be returned to treasury for cancellation. Elemental has not purchased any of its shares in the previous 12-month period.

In connection with the NCIB, Elemental intends to enter into an automatic share purchase plan with the broker to allow for purchases of the shares during "blackout" or "closed" periods under Elemental's stock trading policy. Such purchases would be at the discretion of the broker on parameters established by Elemental prior to any blackout or closed period. The plan may be terminated by Elemental or the broker in accordance with its terms and will otherwise terminate on the expiry of the NCIB.

A copy of the notice filed with the TSX may be obtained by any shareholder of the company without charge by contacting the company.

About Elemental Royalty Corp.

Elemental is a new mid-tier, gold-focused streaming and royalty company with a globally diversified portfolio of 18 producing assets and more than 200 royalties, anchored by cornerstone assets and operated by world-class mining partners. Formed through the merger of Elemental Altus and EMX, the company combines Elemental Altus's record of accretive royalty acquisitions with EMX's strengths in royalty generation and disciplined growth. This complementary strategy delivers both immediate cash flow and long-term value creation, supported by a best-in-class asset base, diversified production and sector-leading management expertise.

We seek Safe Harbor.