VANCOUVER, BC / ACCESSWIRE / September 26, 2023 / Electric Royalties Ltd. (TSXV:ELEC)(OTCQB:ELECF) ("Electric Royalties" or the "Company") is pleased to provide the following update on its royalty portfolio.

Brendan Yurik, CEO of Electric Royalties, commented: "It's been quite a summer of progress for our royalty portfolio with 19 updates from our asset partners over 4 months. We're especially excited about the most recent production update on our cash-flowing Penouta tin-tantalum royalty, on which we've increased our royalty rate to 1.5% gross revenue royalty in July.

"The management team at Strategic Minerals has done a fantastic job operationally at the Penouta mine. It's also exciting to note serious progress at Mont Sorcier, a large iron and vanadium asset in a top tier mining jurisdiction that is being advanced in partnership with Glencore. The process for project financing is moving ahead towards due diligence due to commence shortly."

Highlights since the Company's previous update on August 15, 2023:

Penouta Tin-Tantalum Mine (1.5% Gross Revenue Royalty) - On August 14, 2023, Strategic Minerals Europe Corp. (NEO:SNTA)(OTCQB:SNTAF) ("Strategic") reported its second quarter 2023 financial results. Highlights for the second quarter included record production, increasing 36% to 246 tonnes of primary concentrate at the Penouta Mine in Spain, compared to Q2 2022. Strategic also achieved record sales of 231 tonnes of concentrates and 154 tonnes of contained minerals, an increase of 40% and 38%, respectively, compared to the same period in 2022.
Mont Sorcier Iron and Vanadium Project (1.0% Gross Metal Royalty) - Further to Cerrado Gold Inc.'s (TSXV: CERT) ("Cerrado") news release on July 5, 2023 announcing its acceptance of an Expression of Interest from the UK Export Credit Agency to provide up to US$420 million of support for the Mont Sorcier Project near Chibougamau, Québec, Cerrado announced on September 5, 2023 that it has commenced the tender phase for the Mandated Lead Arranger (MLA) of its project financing program. The selection of the MLA is expected to be completed by the end of September, followed by detailed due diligence. The US$420 million amount represents 70% of the Mont Sorcier Project's total capital expenditure, interest payable during construction, political risk insurance premium and other approved expenditures.
Råna Nickel-Copper-Cobalt Project (1.0% Net Smelter Royalty) - On September 5, 2023, Global Energy Metals Corporation (TSXV: GEMC) ("Global Energy Metals") and its strategic partner Kingsrose Mining Limited (ASX: KRM) ("Kingsrose") announced analytical results from the first two diamond drill holes at the Bruvann prospect, Råna Project, Norway.

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