Mr. Tim Termuende reports

CLARIFYING NEWS RELEASE

Eagle Royalties Ltd. is clarifying certain statements contained in its news release dated May 15, 2025.

On May 15, 2025, Eagle Royalties announced that it had received approval from the Canadian Securities Exchange to amend the term of 5,005,998 outstanding common share purchase warrants which were issued in connection with a non-brokered private placement completed in May, 2023. The news release stated that the warrants had a current expiry date of May 19, 2025, when the actual current expiry date should have been stated to be May 18, 2025. Eagle Royalties applied to extend the expiry date for an additional 12 months and incorrectly stated that the revised date for warrant expiry was May 19, 2026, when the actual expiry date should have been stated to be May 18, 2026. The exercise price of the warrants remains unchanged, at 50 cents per warrant.

About Eagle Royalties Ltd.

Eagle Royalties benefits from maintaining a strong treasury and holds a diverse portfolio of over 35 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.

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