VANCOUVER, BRITISH COLUMBIA – March 10, 2021 – Electric Royalties Ltd. (TSXV: ELEC) (“Electric Royalties” or the “Company”) is pleased to announce that it has entered into an agreement with Globex Mining Enterprises Inc. (GMX-TSX, GLBXF-OTCQX International, G1MN-Frankfurt) (“Globex”) to acquire two royalties (the “Agreement”). The Middle Tennessee royalty (“MTM Royalty”) is a sliding-scale, gross metal royalty on zinc production at the operating Middle Tennessee Mine (“MTM”), located in Smith County, Tennessee, United States, and operated by a subsidiary of Trafigura Group (“Trafigura”). The Company is also acquiring a new 1% Gross Revenue Royalty (“GRR”) on the Glassville manganese project,
which is located in close proximity to the Battery Hill project in New Brunswick, Canada on which the Company holds an existing royalty. Total consideration for the acquisition is C$13,000,000 in cash and the issuance of 14,500,000 common shares of the Company (the “Transaction”). In the event the zinc price received by the operator of MTM averages above US$2.00 per pound for 3 consecutive months, the Company will make an additional C$1,000,000 cash payment to Globex.

Transaction Highlights
• The MTM royalty is the Company’s first cash-flowing royalty, and results in Electric Royalties becoming the only cash-flowing royalty company solely focused on the battery metals sector.
• The MTM royalty has generated royalties of ~C$4,700,000 since production re-started in Q2 2017 (source: https://globexmining.com/globex-zinc-royalty.htm ).
• MTM has a first class owner and operator in Trafigura (US$147 billion revenue in 2020, source:
https://www.trafigura.com/trafigura-in-brief/).
• The Glassville royalty is strategically located near to the Company’s existing Battery Hill manganese royalty in New Brunswick, Canada.

MTM Royalty
The MTM royalty is a sliding scale gross metals royalty, with no royalty payable if the zinc price is below
US$0.90 per pound, 1.0% between US$0.90 and US$1.10 and 1.4% at zinc prices above US$1.10 per pound.
The Mid Tennessee Zinc Mines have been in intermittent operation for over 50 years and have produced
over 2.7 billion pounds of zinc (https://www.northernminer.com/news/sra-revives-mid-tennessee-zinccomplex/1000220368/ ). Three underground mines make up the complex including Gordonsville, Elmwood and Cumberland. MTM is an operation with significant resource potential. The mine complex is
owned by Trafigura and operated by Nyrstar, their integrated mining business unit that includes the nearby Clarksville, Tennessee smelter complex.

More information on MTM can be found at https://www.nyrstar.com/cdn/88ae9585-d1d6-4df7-93b0- b0bb6aad9af9/2020-fact-sheet-middle-tennesee-30dec.pdf

Transaction Financing and Closing
Within 10 business days of signature of the Agreement, the Company will make a non-refundable down payment of C$250,000 cash, offset against the total consideration payable on closing. Closing of the Transaction is expected to occur before the end of May 2021 and is subject to Electric Royalties completing a minimum funding of C$10,000,000. Electric Royalties is currently evaluating funding alternatives including a combination of equity financing, debt financing or securing a strategic partner to assist with financing of the Transaction (which may result in the strategic partner directly acquiring a portion of the
royalty). Closing of the Transaction will occur following satisfaction of raising the required financing, completion of due diligence and customary conditions including the approval of the TSX Venture Exchange as well as the execution of definitive transaction documentation.
Brendan Yurik, CEO of Electric Royalties, stated: “This acquisition provides Electric Royalties with its first cash-flowing royalty. The project is located in a good jurisdiction, with a top-tier owner and operator in Trafigura and a long mine life. Zinc may not be well associated with the electric revolution, but has a key
role to play in the decarbonization of the global economy and there have been several promising recent breakthroughs in zinc battery technologies and energy storage.”
About Electric Royalties Ltd.
Electric Royalties is a royalty company established to take advantage of the demand for a wide range of commodities (lithium, vanadium, manganese, tin, graphite, cobalt, nickel & copper) that will benefit from the drive toward electrification of a variety of consumer products: cars, rechargeable batteries, large scale energy storage, renewable energy generation and other applications.
Electric vehicle sales, battery production capacity and renewable energy generation are slated to increase
significantly over the next several years and with it, the demand for these targeted commodities. This creates a unique opportunity to invest in and acquire royalties over the mines and projects that will supply the materials needed to feed the electric revolution.
Electric Royalties has a portfolio of 12 royalties and plans to focus predominantly on acquiring royalties
on advanced stage and operating projects to build a diversified portfolio located in jurisdictions with low geopolitical risk.