Mr. Tim Coughlin reports

ROYAL ROAD SECURES TITLE GRANT AND ADVANCES DRILLING UNDER OPTION AGREEMENT, GAM PROJECT, COLOMBIA

Royal Road Minerals Ltd.'s mining concession application subject to the company's previously disclosed binding option agreement (see press release Dec. 14, 2021) has been formally converted and published as a granted mining concession contract as of Jan. 5, 2026. The Chuscalita title has an initial term of 30 years, in accordance with Colombian mining law. With the Chuscalita title now granted, Royal Road has made a $150,000 (U.S.) payment to the titleholders and, in doing so, has satisfied the relevant condition under the option agreement. Drilling activities on the property are now under way.

Option agreement summary

Under the option agreement, Royal Road has secured the exclusive right to acquire an 80-per-cent interest in the Chuscalita title, which is located adjacent to the company's Guintar mining concession contract.

In accordance with the option agreement, Royal Road previously made a $100,000 (U.S.) option payment, and following the formal conversion of the application to the Chuscalita title, the company has now made a further $150,000 (U.S.) payment to the titleholders.

Royal Road may, at any time, elect to exercise its option and acquire an 80-per-cent interest in the Chuscalita title by making a one-time cash payment of $1,125,000 (U.S.) to the titleholders. Upon exercise of the option, the remaining 20-per-cent interest retained by the titleholders will be free-carried until the completion of a successful feasibility study delivered in connection with, or incorporating, the Chuscalita title. Upon delivery of such feasibility study, the 20-per-cent interest will convert to a 2-per-cent net smelter returns (NSR) royalty on metals extracted from the Chuscalita title, which royalty may be purchased by Royal Road for $10-million (U.S.).

Exploration upside and next steps

The Chuscalita title is located adjacent to Royal Road's existing Guintar landholding and lies along interpreted gold-copper and silver mineralized trends extending from the Guintar project. These trends support the company's view that the Chuscalita title represents a logical extension of the broader Guintar porphyry-skarn system and a priority target for drilling.

With tenure now secured and initial consideration paid, Royal Road is integrating the Chuscalita title into its district-scale geological model and advancing drilling as part of its Guintar exploration program.

"The granting of the Chuscalita title is a significant milestone for Royal Road," said Tim Coughlin, president and chief executive officer. "Our work at GAM has consistently indicated that the mineralized system extends beyond the Guintar title boundary, and securing this ground was an obvious and necessary step. Within a Colombian portfolio covering approximately 1,840 square kilometres of concession contracts and applications, Chuscalita stands out as a priority opportunity. We are excited to test it for deep porphyry potential and are grateful to the Colombian regulatory authorities and the titleholders for their encouragement and constructive engagement in advancing this process."

About Royal Road Minerals Ltd.

Royal Road Minerals is a mineral exploration and development company with its head office and technical-operations centre located in Jersey, Channel Islands.

The scientific and technical information contained in this news release has been prepared, reviewed and approved by Dr. Coughlin, BSc (geology), MSc (exploration and mining geology), PhD, FAusIMM, president and chief executive officer of Royal Road Minerals and a qualified person as defined under National Instrument 43-101.

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