(via TheNewswire)

May 29, 2026, TORONTO, ON - TheNewswire – Star Royalties Ltd. (“ Star Royalties ”, or the “ Company ”) (TSXV: STRR, OTCQX: STRFF) is pleased to highlight the positive construction decision and results of the Pre‑Feasibility Study (“ PFS ”) announced by Minera Alamos Inc. (“ Minera Alamos ”) (TSXV: MAI, OTCQX: MAIFF) for its 100%-owned Copperstone Gold Project (“ Copperstone ”) in La Paz County, Arizona. The PFS confirms a robust, low‑capital, high‑return underground gold project with initial production expected mid-2027. Star Royalties holds a 4% gold stream on Copperstone. All amounts are in U.S. dollars, unless otherwise indicated. Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Highlights

• Exceptional project economics: The Copperstone PFS outlines an after‑tax NPV5% of $374 million, an after‑tax IRR of 108%, and total after‑tax net cash flow of $512 million at a base case gold price of $3,500/oz. At a spot gold price of $4,500/oz, after‑tax NPV5% increases to $537 million with an IRR of 154%. 

• Positive construction decision and near‑term production: Minera Alamos’ Board of Directors has approved full‑scale construction, with initial gold production expected mid-2027, to average 46 koz of gold annually over a 6.3-year mine-life. Construction is anticipated to take approximately one year, while a planned 3-month ore stockpile ahead of mill startup is expected to help de-bottleneck the commissioning and ramp-up of the project.  

• Low capital intensity and rapid payback: Initial capital costs are expected to total $58 million, resulting in a compelling NPV‑to‑capex ratio of 6.4x at the base case $3,500/oz gold price scenario with a payback of 1.2 years. 

• Significantly increased resource base: Measured & Indicated Resources of 4,054 kt grading 4.83 grams per tonne gold (“g/t ”) and containing 630 koz gold represent a 110% increase in contained gold ounces compared to the previous mineral resource estimate. In addition, maiden Proven & Probable Reserves of 1,934 kt grading 4.87 g/t and containing 303 koz gold have been declared. 

• Stream valuation uplift for Star Royalties: The PFS production profile of 291 koz over a 6.3‑year mine-life and average annual production of 46 koz represent a significant increase in the value of Star Royalties’ 4% gold stream on Copperstone, relative to prior technical studies. At a spot gold price of $4,500/oz, the Company estimates its 4% gold stream to generate approximately $39 million in life-of-mine pre-tax cash flow, prior to any mine-life extension from resource conversion and exploration success. 

• Significant exploration and mine‑life extension potential: Minera Alamos has identified meaningful additional upside from down‑plunge extensions of high‑grade underground zones as well as infill and step‑out drilling planned during mining operations. 

• Additional open pit potential: Copperstone has an extensive history of both open pit and underground mining. For the purposes of the updated PFS, only underground accessible Resources were considered.  A portion of these Resources exist in near-surface areas in proximity to the historic open pit excavations and Minera Alamos believes there is potential for gold mineralization to be extracted via open pit mining methods. This opportunity will be more fully evaluated over the course of 2026 and 2027. 

Alex Pernin, Chief Executive Officer of Star Royalties, commented: “We are encouraged by the Copperstone PFS results and Minera Alamos’ decision to fast‑track construction. This study confirms Copperstone as a high‑return, low‑capital project with near‑term production and significant exploration upside with the potential for a concurrent open pit operation in the coming years. At today’s gold prices, the economics of both the project and especially our 4% gold stream continue to strengthen, yet we believe our stream’s ultimate value is still not reflected in our share price. With construction commencing shortly and first gold production expected in mid-2027, Copperstone represents a major value creation catalyst for Star Royalties shareholders.”

Copperstone PFS Highlights

Source:  Minera Alamos news release on May 27, 2026.

The Company is relying on Minera Alamos’ disclosure from its May 26, 2026 press release for the accuracy of Copperstone-related information and on Mr. Darren Koningen, P. Eng., Minera Alamos’ CEO, as the Qualified Person responsible for the technical content related to Copperstone under National Instrument 43-101.

CONTACT INFORMATION

For more information, please visit our website at starroyalties.com or contact:

About Star Royalties Ltd.

Star Royalties Ltd. is a precious metals and carbon credit royalty and streaming company. The Company’s objective is to provide wealth creation by originating accretive transactions with superior alignment to both counterparties and shareholders. The Company offers investors exposure to precious metals as well as carbon credit prices through its pure-green joint venture, Green Star Royalties Ltd., having innovated the world’s first carbon credit royalties.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

Certain statements in this news release may constitute "forward-looking statements", including those regarding future market conditions for metals and minerals, future valuation of Minera Alamos, development and production of Copperstone, permitting and construction scheduling of Coppertone, future location of Copperstone grinding and flotation equipment, expected future cash flow from the stream agreement, the Company’s position in Copperstone’s future gold production, the net cash position of the Company, and future capital raising opportunities are statements that address or discuss activities, events or developments that the Company expects or anticipates may occur in the future. When used in this news release, words such as "estimates", "expects", "plans", "anticipates", "will", "believes", "intends" "should", "could", "may" and other similar terminology are intended to identify such forward-looking statements. Forward-looking statements are made based upon certain assumptions and other important factors that, if untrue, could cause the actual results, performances or achievements of Star Royalties to be materially different from future results, performances or achievements expressed or implied by such statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be an accurate indication of whether or not such results will be achieved.

A number of factors could cause actual results, performances or achievements to differ materially from such forward-looking statements, including, without limitation, changes in business plans and strategies, market and capital finance conditions, ongoing market disruptions caused by the Ukraine and Russian conflict, metal and mineral commodity price volatility, discrepancies between actual and estimated production and test results, mineral reserves and resources and metallurgical recoveries, mining operation and development risks relating to the parties which produce the metals and minerals Star Royalties will purchase or from which it will receive royalty payments, risks inherent to royalty companies, title and permitting matters, activities by governmental authorities, currency fluctuations, the global, federal and provincial social and economic climate in particular with respect to addressing and reducing global warming, natural disasters and global pandemics, dilution, risk inherent to any capital financing transactions. These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should exercise caution in relying upon forward-looking statements and the Company undertakes no obligation to publicly revise them to reflect subsequent events or circumstances, except as required by law.

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