EMPRESS REPORTS 2026 FIRST QUARTER FINANCIAL RESULTS  

Empress Royalty Corp. (TSXV: EMPR | OTCQX: EMPYF) (“Empress” or the “Company”) is pleased to announce its financial and operating results for the three months ended March 31, 2026, highlighting continued portfolio performance, disciplined execution, and strong year-over-year growth. 

“Our exceptional first-quarter results reflect the continued strength and scalability of the Empress business model, building on the momentum established through our transformational progress in 2025,” stated Alexandra Woodyer Sherron, CEO and President of Empress Royalty Corp.  “Supported by strong gold and silver prices and sustained contributions across our portfolio, we achieved record quarterly revenue and gross profit, with revenue increasing more than threefold and gross profit nearly quadrupling compared to the first quarter of 2025.  We also strengthened our balance sheet by adding US$11 million to our cash and gold and silver holdings during the quarter, bringing total current holdings to US$19.4 million.  Combined with growing cash flow generation, this positions Empress to continue executing on disciplined, accretive growth opportunities while enhancing long-term shareholder value.” 

Key Financial and Operating Highlights for the Three Months Ended March 31, 2026 

(All figures are in U.S. dollars unless otherwise noted) 

• Strong Quarterly Financial Performance: Empress generated quarterly revenue of US$9.06M and a gross profit of US$6.75M, compared to revenue of US$2.70M and gross profit of US$1.80M in the first quarter of 2025, reflecting significant year-over-year growth. 

• Accelerated Cash and Metals Holdings: The Company increased its liquid metals position by US$11.09M during the quarter, bringing its total current metals holdings to US$19.40M. 

• Substantial Earnings Growth: Net income for the quarter totalled US$3.30M, compared to US$2.80M reported in the first quarter of 2025. 

• High-Margin Operational Efficiency: Adjusted EBITDA for the quarter was US$5.79M, highlighting the capital efficient nature of the Company’s royalty and streaming model. 

These strong results reflect the continued growth of the Company’s producing royalty and streaming portfolio. Through exposure to high-quality assets and disciplined capital allocation, Empress continues to reinforce its foundation for sustainable, long-term value creation. 

The financial statements and accompanying Management’s Discussion and Analysis (MD&A) have been filed on SEDAR+ (www.sedarplus.ca) and are also available on the Company’s website at www.empressroyalty.com. 

Reaffirming Full-Year 2026 Guidance 

Following the strong performance of the first quarter, Empress is reaffirming its annual financial and operating guidance for fiscal 2026, originally issued as part of its annual financial statement filing. Management’s expectations remain unchanged and are based on the steady performance of its existing royalty and streaming portfolio, updated operator disclosures, and prevailing market conditions. 

Key Guidance Metrics for Fiscal 2026 

Empress continues to anticipate meaningful growth in its attributable production in 2026, supported by steady performance across portfolio holdings and potential optimization initiatives at key assets. Guidance incorporates assumptions of stable or improving operator performance and no major disruptions, consistent with disclosure standards under NI 51-102 and, where applicable, National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) for technical information. 

Attributable Gold Equivalent Ounces (GEOs) 

As a royalty and streaming company focused on precious metals, the Company’s performance is inherently tied to production volumes and metal prices, which are volatile; accordingly, emphasis is placed on attributable gold equivalent ounces (“GEOs”) sales as a primary metric to reflect production exposure. 

For streams, guidance reflects GEOs that have been delivered from the operators of our assets. Our GEO deliveries may differ from operators’ production based on the timing of deliveries and due to recovery and payability factors. GEO sales may differ from GEO deliveries based on the timing of the sales. For royalties, GEO guidance reflects the timing of royalty payments or accruals. 

• Reiterated 2026 GEO Outlook: Empress is maintaining its previously disclosed expectation for attributable GEOs to range between 7,045 and 7,430 ounces for fiscal 2026. As originally stated, this range represents the Company’s diversified exposure across gold and silver, calculated using conservative conversion ratios based on assumed commodity prices of US$4,000/oz gold and US$70/oz silver. GEOs continue to be emphasized as the core metric, as they directly reflect the underlying production from operators and reduce dependency on volatile spot prices for performance evaluation. 

Assumptions and Basis for Guidance 

The reaffirmed 2026 Guidance is based on public and non-public forecasts, other disclosures by the owners and operators of our assets, internal analysis of historical performance, and management’s understanding of the underlying producing assets. Additionally, the Company may receive information from the owners and operators of the properties which the Company is not permitted to disclose to the public pursuant to the underlying confidentiality agreements.  

Key assumptions include: 

• Annual increases in revenue if metals prices continue to be in the range of US$4,000/oz gold and US$70/oz silver, and/or operating improvements are made at the underlying assets, and/or additional assets are added to the stream and royalty portfolio; 

• Production estimates reliant on operator guidance under NI 43-101-compliant reports and other non-public technical information, assuming no material production interruptions; 

• No major new acquisitions or divestitures beyond those already announced, though the Company continues to actively evaluate pipeline opportunities; and 

• Currency exchange rates and tax considerations remaining consistent with current levels. 

Sensitivity 

The success of the Company in the first quarter of 2026 was based on a concentrated number of investments and a significant increasing trend in gold and silver prices. There is no guarantee that this trend will continue through the remainder of 2026. Given the volatile nature of gold and silver markets, an increase or decrease in gold or silver prices could impact attributable GEO values and related revenue considerably. 

Risks and Uncertainties 

Achievement of this guidance is subject to various risks, including but not limited to commodity price volatility (a primary concern given the small number of investments), operator-specific challenges (e.g., production delays), geopolitical factors, and environmental considerations. These could result in actual GEOs and revenues varying from the provided guidance, potentially materially. Investors should refer to the cautionary statements contained at the end of this news release, and the full discussion of risks in the Company’s 2025 Annual Information Form (AIF) filed on www.sedarplus.ca. 

Conclusion and Updates 

Empress continues to successfully execute its strategy of building a diversified, cash-flowing portfolio to deliver sustainable value to shareholders. The Company expects to review and update this outlook quarterly, or as material events occur, including new investments, significant operator updates, or changes in the commodity markets. Management remains focused on disciplined growth, strategic capital allocation and the continued expansion of its royalty and streaming portfolio. 

ABOUT EMPRESS ROYALTY CORP. 

Empress is a global royalty and streaming creation company providing investors with a diversified portfolio of gold and silver investments.  Empress has built a portfolio of precious metal investments and is actively investing in mining companies with development and production stage projects who require additional non-dilutive capital.  The Company has strategic partnership with Endeavour Financial which allow Empress to not only access global investment opportunities but also bring unique mining finance expertise and deal structuring.  Empress is looking forward to continuously creating value for its shareholders through the proven royalty and streaming models.  

ON BEHALF OF EMPRESS ROYALTY CORP.  

Per: Alexandra Woodyer Sherron, CEO and President 

For further information, please visit our website at www.empressroyalty.com, or contact us by email at info@empressroyalty.com or by phone at +1.604.331.2080. 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release. 

The information contained herein includes “forward-looking statements” and “forward looking information” as defined under applicable Canadian securities laws (“forward-looking statements”).  Forward-looking statements and information can generally be identified by the use of terms such as “may”, “will”, “should”, “expect”, “intend”, “estimate”, continue”, “believe”, “plans”, “anticipate” or similar terms. 

Forward-looking information and statements include, but are not limited to, statements with respect to the activities, events or developments that Empress Royalty Corp. (“Empress” or the “Company”) expects or anticipates will or may occur in the future, including those regarding future growth and ability to create new streams or royalties, the development and focus of the Company , its acquisition strategy, the plans and expectations of the operators of the projects underlying its interests, including the proposed advancement and expansion of such projects; the results of exploration, development and production activities of the operators of such projects; and the Company’s expectations regarding future revenues. 

Forward-looking information and statements are based on the then current expectations, beliefs, assumptions, estimates and forecasts about Empress’s business and the industry and markets in which it operates.  Forward-looking information and statements are made based upon numerous assumptions and although the assumptions made by the Company in providing forward-looking information and statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.  Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual results, performances and achievements of Empress to differ materially from any projections of results, performances and achievements of Empress including, without limitation, any inability of the operators of the properties underlying the Company’s royalty and stream interests to execute proposed plans for such properties or to achieve planned development and production estimates and goals, risks related to the operators of the projects in which the Company holds interests, including the successful continuation of operations at such projects by those operators, risks related to exploration, development, permitting, infrastructure, operating or technical difficulties on any such projects, risks related to international operations, government relations and environmental regulation, uncertainty relating to the availability and costs of financing needed in the future and the Company’s ability to carry out its growth plans as well as the impact of the COVID-19 pandemic and other related risks and uncertainties.  For a discussion of important factors which could cause actual results to differ from forward-looking statements, refer to the annual information form of Empress for the year ended December 31, 2025 and its other publicly filed documents under it profile a www.sedarplus.ca.  Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information and statements, there may be other factors that cause results not to be as anticipated, estimated, or intended.  There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended.  Accordingly, readers should not place undue reliance on forward-looking information and statements.  The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.  Disclosure relating to properties in which Empress holds royalty or stream interests is based on information publicly disclosed by the owners or operators of such properties.  The Company generally has limited or no access to the properties underlying its interests and is largely dependent on the disclosure of the operators of its interests and other publicly available information.  The Company generally has limited or no ability to verify such information.  Although the Company does not have any knowledge that such information may not be accurate, there can be no assurance that such third-party information is complete or accurate.  In addition, certain information publicly reported by operators may relate to a larger property than the area covered by the Company’s interest, which often may only apply to a portion of the overall project area or applicable mineral resources or reserves.