Mr. Tim Termuende reports

EAGLE ROYALTIES APPOINTS STEPHEN KENWOOD AS DIRECTOR, BRENT BONNEY AS ADVISOR; OPTIONS ISSUED

Eagle Royalties Ltd. has appointed Stephen Kenwood as independent director, effective Nov. 5, 2024. Mr. Kenwood is a professional geologist with over 35 years of experience in the mineral exploration industry and served as a director of Ely Gold Royalties Inc. until the company was acquired by Gold Royalty Corp. in 2021 in a transaction valued at approximately $300-million.

The company is also pleased to announce the appointment of Brent Bonney to the advisory board, joining Glen Diduck. Mr. Bonney has considerable experience in the mining royalty space, having served as a senior officer with Maverix Metals prior to its acquisition by Triple Flag Precious Metals in a transaction valued at approximately $600-million (U.S.).

Mr. Kenwood currently serves as a geological and management consultant to public and private companies. Mr. Kenwood received a bachelor of science (geology) from the University of British Columbia in 1987 and became a member of the Association of Professional Engineers and Geoscientists of British Columbia (APEGBC) in 1990. Mr. Kenwood has experience in advanced project development in British Columbia at the Snip gold deposit while working for Cominco Ltd. and at the Eskay Creek polymetallic deposit. Mr. Kenwood also worked at the Cobre copper-gold porphyry project in Panama and has worked on projects in Peru, Chile, Slovakia, the United States and China. Mr. Kenwood was also a director and officer of Ely Gold Royalties from 2010 to 2021. Mr. Kenwood is currently a director, president and chief executive officer of Majestic Gold Corp. and is a director of other Toronto Stock Exchange listed companies.

Mr. Bonney was the vice-president of corporate development for Maverix Metals, a precious-metal-focused royalty company that was acquired by Triple Flag Precious Metals Corp. in 2023. Prior to that, Mr. Bonney spent 10 years in investment banking advising resource clients on both mergers and acquisitions and financing. Mr. Bonney holds a bachelor of commerce (honours) in finance from the University of British Columbia.

Options issued

Eagle Royalties has granted incentive stock options of the company for the purchase of a total of 700,000 shares at an exercise price of 30 cents per share, expiring Nov. 13, 2029, pursuant to the company's current option plan (subject to shareholder and regulatory approvals).

About Eagle Royalties Ltd.

Eagle Royalties benefits from maintaining a strong treasury and holds a diverse portfolio of 38 royalty interests in Western Canada. Target commodities subject to royalties include a broad spectrum, including critical metals, precious metals, industrial minerals and diamonds. Its flagship royalty is associated with the AurMac project, located in Yukon, operated by Banyan Gold Corp. Eagle Royalties holds royalty interests ranging from 0.5 per cent to 2 per cent on claims that contain a significant portion of AurMac's inferred gold resource located at the Powerline and Airstrip deposit areas. Eagle Royalties also holds royalty interests on a number of historical base metal deposits located in Western Canada.

Eagle Royalties was previously a wholly owned subsidiary of Eagle Plains Resources Ltd., incorporated in late 2022 to manage the diverse royalty holdings of Eagle Plains. In May, 2023, Eagle Royalties listed on the Canadian Securities Exchange after being spun out to Eagle Plains' shareholders on a 1:3 basis by means of a plan of arrangement.

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