TORONTO, ON / ACCESSWIRE / April 16, 2024 / Star Royalties Ltd. ("Star Royalties", or the "Company") (TSXV:STRR)(OTCQX:STRFF) is pleased to report its financial results for the year ended December 31, 2023, as well as to provide an update on its Green Star Royalties Ltd. ("Green Star") joint-venture and its mining royalty portfolio. All amounts are in U.S. dollars, unless otherwise indicated.

2023 Financial and Corporate Highlights

Green Star secured a second major cornerstone shareholder in Cenovus Energy Inc. ("Cenovus") (NYSE, TSX: CVE) with a C$21.2 million strategic investment, resulting in the Company benefiting from a $8.0 million Green Star equity gain in 2023.
Continued development of Green Star's investment pipeline, which now includes over 50 opportunities under evaluation, including advanced-stage, carbon credit-issuing opportunities.
Improved carbon royalty structure of Green Star's CarbonNOW regenerative agriculture investment by partnering directly with the project operator for a 30% gross revenue royalty on CarbonNOW. The CarbonNOW carbon farming program is currently under third-party validation.
MOBISMART Mobile Off-Grid Power & Storage Inc. ("MOBISMART") continues to increase its unit sales and growth prospects.
2023 revenues were 34% lower than the prior year, largely reflecting reduced sales volumes at the Keysbrook operation after its record 2022 royalty revenues.

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