Mr. Diego Airo reports

VERSAMET ROYALTIES COMPLETES ACQUISITION OF CORNERSTONE CANADIAN GOLD STREAM ON ESKAY CREEK

Versamet Royalties Corp. has completed the previously announced acquisition of a 3.52-per-cent gold stream in respect of gold production from the Eskay Creek gold-silver project from fund entities managed by Orion Resource Partners LP and fund entities managed by affiliates of Blackstone Inc. All amounts are in U.S. dollars unless otherwise indicated.

Versamet paid an upfront cash payment of $340-million and issued 2,054,906 common shares to the vendors. Versamet financed the upfront cash payment through an amended and restated credit facility, which includes an increase of the existing revolving facility from $200-million to $250-million, maturing in March, 2029, and a new term facility in the amount of $150-million, maturing in March, 2028, for a combined total of $400-million, from Bank of Montreal and National Bank of Canada. The amended credit facility provides for a $100-million accordion on the revolving facility once the term facility has been repaid in full.

Gold stream summary:

• Gold stream: Under the gold stream, Versamet is entitled to receive 3.52 per cent of the payable gold production for the life of the mine, provided that the mine achieves certain completion tests on or before Sept. 30, 2027. The gold stream is uncapped, has no step-downs or buydown provisions, and includes an area of interest.
• Production profile: Eskay is expected to produce an average of over 300,000 ounces of gold per year in its first five years and an average of approximately 230,000 ounces of gold per year over its initial 12 year life.
• Delivery payments: For gold ounces delivered to the gold stream, Versamet will make continuing cash payments equal to 10 per cent of the spot gold price at the time of delivery.
• Other terms:
  • Gold stream percentage: If the completion tests are not satisfied by Sept. 30, 2027, the stream percentage shall increase to 3.57 per cent, 3.62 per cent and 3.67 per cent if completion is achieved in the first, second or third calendar quarters following Sept. 30, 2027, respectively, and a further additional 0.13 per cent per quarter for the remaining calendar quarters until satisfaction of the completion tests.
  • Minimum delivery provision: If a cumulative total of 2.61 million ounces of payable gold applicable to the gold stream has not been produced by April 1, 2040, Versamet is entitled to a one-time delivery of gold equal to the difference between cumulative gold ounces delivered to the gold stream at the time and 2.61 million ounces multiplied by the gold stream percentage at the time.
  • Security: The gold stream is secured over the Eskay Creek project assets.

Full details of the transaction can be found in Versamet's news release titled "Versamet Acquires Cornerstone Canadian Gold Stream on Eskay Creek" dated April 6, 2026.

About Versamet Royalties Corp.

Versamet is an emerging mid-tier precious metal royalty and streaming company focused on creating long-term per-share value for its shareholders through the acquisition of high-quality assets. Versamet's common shares trade on Nasdaq and the Toronto Stock Exchange under the symbol VMET.

Qualified person

The scientific and technical information contained in this news release has been reviewed and approved by Diego Airo, PEng, executive vice-president, project evaluation, for Versamet, a member of the Association of Professional Engineers and Geoscientists of the Province of British Columbia. Mr. Airo is a qualified person as defined in the National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

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