NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES 

Empress Royalty Corp. (TSXV:EMPR | OTCQB:EMPYF) (“Empress” or the “Company”) is pleased to announce that it has now closed the second and final tranche of its non-brokered private placement of units (”Units”) raising an additional US$1M in gross proceeds through the sale of an additional 4,316,666 Units. With the second tranche closing, the Company has raised a total of US$2M which is equivalent to C$2.6M in gross proceeds from the sale of a total of 8,666,666 Units at a price of C$0.30 per Unit (the “Offering”). 

“The private placement is a fundamental step in the growth of Empress’ vision and business strategy, and we welcome Rick Rule as a long-term strategic investor,” stated Alexandra Woodyer Sherron, CEO and President of Empress Royalty. “The funds raised will be deployed to aggressively evaluate new potential opportunities to expand our diversified portfolio of revenue-generating gold and silver investments. We are focused on executing our strategy of becoming a leading financier to the junior mining industry and creating significant value for our shareholders.” 

Each Unit will be comprised of one common share of the Company (a “Common Share”) and one common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Common Share (a “Warrant Share”) at a price of C$0.60 for a period of five years from the closing date of the Offering. In the event, the closing price (or closing bid price on days when there are no trades) of Common Shares on the TSX Venture Exchange (the “Exchange”) exceeds C$1.20 for a minimum of 20 consecutive trading days, the Company may provide written notice to each holder of Warrants requiring each holder to exercise such Warrants within 30 days following the date of delivery of such written notice, after which the Warrant will expire. The Common Shares, Warrants, and Warrant Shares will be subject to a resale hold period under Canadian securities laws until four months from closing. The Offering is subject to the final approval of the Exchange. 

The Company intends to use the proceeds of the Offering to evaluate potential royalty and streaming investment opportunities, increase market awareness in the U.S., and for general working capital purposes. 

A certain insider of the Company (the “Purchasing Insider“) is participating in the Offering. Pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“), a purchase by the Purchasing Insider would be a “related party transaction”. The Company is exempt from the requirements to obtain a formal valuation or minority shareholder approval in connection with the Offering in reliance on sections 5.5(a) and 5.7(a), respectively, of MI 61-101, as neither the fair market value of the securities received by such party nor the proceeds for such securities received by the Company exceeds 25% of the Company’s market capitalization as calculated in accordance with MI 61-101. 

The securities offered pursuant to the Offering have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act“) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. 

ABOUT EMPRESS ROYALTY CORP. 

Empress is a global royalty and streaming creation company providing investors with a diversified portfolio of 17 gold and silver investments. Empress is actively financing mining companies with development and production stage projects who require additional non-dilutive capital. The Company has strategic partnerships with Endeavour Financial and Terra Capital which allow Empress to not only access global investment opportunities but also bring unique mining finance expertise, deal structuring and access to capital markets. Empress is focused on executing our strategy of becoming a leading financier to the junior mining industry while creating significant value for our shareholders. 

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 Kaitlin Taylor, Investor Communications, by email at [email protected] or by phone at +1.604.331.2080. 

Neither 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 release. 

This news release contains statements about Empress’ expectations concerning the intended uses of proceeds of the Offering, final regulatory acceptance of the Offering and the Company’s expectations on future plans and its operations which are forward-looking in nature and, as a result, are subject to certain risks and uncertainties. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as “expects”, “believes”, “anticipates”, “aims to”, “plans to” or “intends to” or variations of such words and phrases or statements that certain actions, events or results “will” occur. Although Empress believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them as actual results may differ materially from the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include the assumptions and risks associated with the state of equity financing markets and results of future activities of the Company. The forward-looking statements contained in this news release are made as of the date hereof, and Empress undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law. Readers should not place undue reliance on forward-looking statements or information. 

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES 

Empress Royalty Corp. (TSXV:EMPR | OTCQB:EMPYF) (“Empress” or the “Company”) is pleased to announce that it has completed the first tranche of its US$2M private placement by the issuance of 4,350,000 units at C$0.30 each for gross proceeds of US$1M with Rick Rule. The final tranche is expected to close shortly. 

“It is our absolute pleasure to welcome Rick Rule as a Strategic Investor in Empress Royalty and we look forward to closing the final tranche of this financing imminently,” stated Alexandra Woodyer Sherron, CEO & President of Empress. 

“I’m delighted to become a shareholder and participate in the growth of Empress Royalty”, stated Rick Rule. 

The Common Shares, Warrants and Warrant Shares will be subject to a resale hold period under Canadian securities laws until four months from closing. The Offering may close in one or more tranches. The Offering is subject to the approval of the Exchange. 

The Company intends to use the proceeds of the Offering to evaluate potential royalty and streaming investment opportunities, increase market awareness in the U.S., and for general working capital purposes. 

The securities to be offered pursuant to the Offering have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. 

ABOUT EMPRESS ROYALTY CORP. 

Empress is a global royalty and streaming creation company providing investors with a diversified portfolio of gold and silver investments. Since listing in December 2020, Empress has built a portfolio of 17 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 partnerships with Endeavour Financial and Terra Capital which allow Empress to not only access global investment opportunities but also bring unique mining finance expertise, deal structuring and access to capital markets. 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 Kaitlin Taylor, Investor Communications, by email at [email protected] or by phone at +1.604.331.2080. 

Neither 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 release. 

This news release contains statements about Empress’ expectations concerning the completion of the Offering, the intended uses of proceeds of the Offering, regulatory acceptance of the Offering and the Company’s expectations on future plans which are forward-looking in nature and, as a result, are subject to certain risks and uncertainties. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as “expects”, “believes”, “anticipates”, “aims to”, “plans to” or “intends to” or variations of such words and phrases or statements that certain actions, events or results “will” occur. Although Empress believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them as actual results may differ materially from the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include the assumptions and risks associated with the state of equity financing markets and results of future activities of the Company. The forward-looking statements contained in this news release are made as of the date hereof, and Empress undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law. Readers should not place undue reliance on forward-looking statements or information. 

Empress Royalty Corp. (TSXV:EMPR | OTCQB:EMPYF) (“Empress” or the “Company”) reports that following the Company’s Annual General and Special Meeting, held on September 28, 2022, Shareholders of the Company voted in favour of management’s director nominees and the re-appointment of the auditors. Following the new share-based compensation policy adopted by the TSX Venture Exchange in November 2022, Shareholders of the Company also voted in favour of the Company’s replacement 10% “rolling” stock option plan (“Option Plan”) and a new equity incentive plan (“Equity Plan”). The Board of Directors approved the Option Plan and Equity Incentive Plan on July 18, 2022, subject to regulatory and shareholder approval. 

The Company’s Option Plan is a 10% “rolling” stock option plan which governs the granting of stock options to directors, officers, employees and consultants of the Company or a subsidiary of the Company for the purchase of up to 10% of the issued and outstanding common shares in the capital of the Company (the “Common Shares”) from time to time which supersedes the current stock option plan. Any stock options currently outstanding under the superseded stock option plan will remain outstanding as at the effective date, however, new stock option grants will be subject to the new Option Plan. 

The Company’s Equity Plan governs the granting of any restricted share unit (RSU), performance share unit (PSU) or deferred share unit (DSU) (collectively the “Awards”) granted under the fixed Equity Plan, to directors, officers, employees and consultants of the Company or a subsidiary of the Company. The Company has reserved for issuance up to 10,457,439 Common Shares, being 10% of the issued and outstanding Common Shares of the Company, pursuant to the Equity Plan. 

ABOUT EMPRESS ROYALTY CORP. 

Empress is a global royalty and streaming creation company providing investors with a diversified portfolio of gold and silver investments. Since listing in December 2020, Empress has built a portfolio of 17 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 partnerships with Endeavour Financial and Terra Capital which allow Empress to not only access global investment opportunities but also bring unique mining finance expertise, deal structuring and access to capital markets. 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 Kaitlin Taylor, Investor Communications, by email at [email protected] or by phone at +1.604.331.2080. 

Neither 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 release. 

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES 

Empress Royalty Corp. (TSXV:EMPR | OTCQB:EMPYF) (“Empress” or the “Company”) is pleased to announce that it has upsized its non-brokered private placement of units (“Units”) announced on September 8, 2022 (the “Offering”). The Offering will raise gross proceeds of up to C$2,600,000 which is equivalent to US$2,000,000 using a fixed exchange rate of C$1.30 for each US$1.00. 

The Common Shares, Warrants and Warrant Shares will be subject to a resale hold period under Canadian securities laws until four months from closing. The Offering may close in one or more tranches. The Offering is subject to the approval of the Exchange. 

The Company intends to use the proceeds of the Offering to evaluate potential royalty and streaming investment opportunities, increase market awareness in the U.S. and for general working capital purposes. 

The securities to be offered pursuant to the Offering have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. 

ABOUT EMPRESS ROYALTY CORP. 

Empress is a global royalty and streaming creation company providing investors with a diversified portfolio of gold and silver investments. Since listing in December 2020, Empress has built a portfolio of 17 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 partnerships with Endeavour Financial and Terra Capital which allow Empress to not only access global investment opportunities but also bring unique mining finance expertise, deal structuring and access to capital markets. 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 Kaitlin Taylor, Investor Communications, by email at [email protected] or by phone at +1.604.331.2080. 

Neither 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 release. 

This news release contains statements about Empress’ expectations concerning the completion of the Offering, the intended uses of proceeds of the Offering, regulatory acceptance of the Offering and the Company’s expectations on future plans which are forward-looking in nature and, as a result, are subject to certain risks and uncertainties. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as “expects”, “believes”, “anticipates”, “aims to”, “plans to” or “intends to” or variations of such words and phrases or statements that certain actions, events or results “will” occur. Although Empress believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them as actual results may differ materially from the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include the assumptions and risks associated with the state of equity financing markets and results of future activities of the Company. The forward-looking statements contained in this news release are made as of the date hereof, and Empress undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law. Readers should not place undue reliance on forward-looking statements or information. 

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES 

Empress Royalty Corp. (TSXV:EMPR | OTCQB:EMPYF) (“Empress” or the “Company”) is pleased to announce a non-brokered private placement of up to 6,500,000 units (the “Units”) to be sold at a price of C$0.30 per Unit for gross proceeds of up to C$1,950,000 which is equivalent to approximately US$1,500,000 (the “Offering”). 

Each Unit will be comprised of one common share of the Company (a “Common Share”) and one common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Common Share (a “Warrant Share”) at a price of C$0.60 for a period of five years from the closing date of the Offering. 

In the event, the closing price (or closing bid price on days when there are no trades) of Common Shares on the TSX Venture Exchange (the “Exchange”) exceeds C$1.20 for a minimum of 20 consecutive trading days, the Company may provide written notice to each holder of Warrants requiring each holder to exercise such Warrants within 30 days following the date of delivery of such written notice, after which the Warrant will expire. 

The Common Shares, Warrants and Warrant Shares will be subject to a resale hold period under Canadian securities laws until four months from closing. The Offering may close in one or more tranches. The Offering is subject to the approval of the Exchange. 

The Company intends to use the proceeds of the Offering to evaluate potential royalty and streaming investment opportunities, increase market awareness in the U.S. and for general working capital purposes. 

The securities to be offered pursuant to the Offering have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act“) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. 

ABOUT EMPRESS ROYALTY CORP. 

Empress is a global royalty and streaming creation company providing investors with a diversified portfolio of gold and silver investments. Since listing in December 2020, Empress has built a portfolio of 17 precious metal investments. The Company is actively investing in mining companies with development and production stage projects requiring additional non-dilutive capital. Its strategic partnerships with Endeavour Financial and Terra Capital provide access to global investment opportunities and bring unique mining finance expertise, in respect of deal structuring and access to capital markets. 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 Kaitlin Taylor, Investor Communications, by email at [email protected] or by phone at +1.604.331.2080. 

Neither 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 release. 

Cautionary Statement Regarding “Forward Looking” Information 

This news release contains statements about Empress’ expectations concerning the completion of the Offering, the intended uses of proceeds of the Offering, regulatory acceptance of the Offering and the Company’s expectations on future plans which are forward-looking in nature and, as a result, are subject to certain risks and uncertainties. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as “expects”, “believes”, “anticipates”, “aims to”, “plans to” or “intends to” or variations of such words and phrases or statements that certain actions, events or results “will” occur. Although Empress believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them as actual results may differ materially from the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include the assumptions and risks associated with the state of equity financing markets and results of future activities of the Company. The forward-looking statements contained in this news release are made as of the date hereof, and Empress undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law. Readers should not place undue reliance on forward-looking statements or information. 

Empress Royalty Corp. (TSXV:EMPR | OTCQB:EMPYF) (“Empress” or the “Company”) is pleased to report the Manica gold mine (“Manica” or the “Mine”) has successfully completed its first gold pour. Empress owns a 3.375% gold royalty on the Manica gold mine located in Mozambique and operated by Mutapa Mining & Processing LDA (“MMP”). 

“The first gold pour at Manica is very exciting and a further example of Empress delivering on our strategy as another asset reaches production within 15 months of investment. With this development, Empress will have three cash-flowing investments in the portfolio which are projected to generate significant revenue in the coming years,” stated Alexandra Woodyer Sherron, CEO & President of Empress. “We have demonstrated that our structured business model of wealth creation generates significantly higher returns on investment, and these will provide a solid platform whilst we expand the portfolio with more value-focused assets.” 

THE INVESTMENT 

Empress executed a Royalty and Purchase Agreement for the creation of a royalty on gold sales from Manica for a total investment of US$3M. Payments to Empress under the Royalty Agreement are based on 3.375% of the revenues generated from the sale of gold from the Project until a total of 95,000 oz of gold have been sold. Thereafter, the percentage shall reduce to 1.125% and shall continue into perpetuity. The Royalty is secured by a first ranking security interest in certain assets of MMP. 

THE MANICA MINE 

MMP has advised Empress that the first gold has been poured at Manica. Production was started with the introduction of low-grade ore to commission all parts of the processing circuit. MMP reported to Empress that it plans for Manica to be at full commercial production by the end of the year. 

Manica is located in the Odzi-Mutare-Manica Greenstone Belt of Mozambique and comprises of several deposits on Xtract’s Resources Plc mining concession licence 3990C (the “Concession”) which includes four deposits being Fair Bride, Guy Fawkes, Boa Esperanza, and Dots Luck. MMP and Xtract have entered into a collaboration and profit-share arrangement whereby MMP will build, finance and operate a carbon-in-leach (CIL) plant to process ore mined from Xtract’s concession. 

MMP reported to Empress that it is mining and processing the oxide and transitional ore at Fair Bride and other deposits on the Concession at its 42,000 tonnes per month processing plant which utilises a CIL process. 

Please see our February 22, 2021, and April 21, 2021, news releases on Empress’ website (www.empressroyalty.com) for further details on the project and the Royalty. 

QUALIFIED PERSON 

The disclosure contained in this News Release of a scientific or technical nature for the Manica project is based on a technical report entitled “NI 43-101 Technical Report on the Fair Bride Gold Project, Mozambique” dated February 22, 2021, with an effective date of February 1, 2021 (the “Fair Bride Technical Report”). The Fair Bride Technical Report was prepared in accordance with NI 43-101 and is available on the Company’s profile at www.sedar.com. 

Technical information in this news release originates in the public disclosure set out above and has been reviewed and approved by Richard Mazur, P.Geo., a Qualified Person as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects. 

ABOUT EMPRESS ROYALTY CORP. 

Empress is a global royalty and streaming creation company providing investors with a diversified portfolio of gold and silver investments. Since listing in December 2020, Empress has built a portfolio of 17 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 partnerships with Endeavour Financial and Terra Capital which allow Empress to not only access global investment opportunities but also bring unique mining finance expertise, deal structuring and access to capital markets. 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 Kaitlin Taylor, Investor Communications, by email at [email protected] or by phone at +1.604.331.2080. 

Neither 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 release. This news release contains statements about Empress’ expectations regarding the economics of the Manica mine which are forward-looking in nature and, as a result, are subject to certain risks and uncertainties. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as “expects”, “believes”, “anticipates”, “aims to”, “plans to” or “intends to” or variations of such words and phrases or statements that certain actions, events or results “will” occur. Although Empress believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them as actual results may differ materially from the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include the timing and success in MMP completing the successful commissioning of the plant and bringing the Manica project into commercial production. The forward-looking statements contained in this news release are made as of the date hereof, and Empress undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law. Readers should not place undue reliance on forward-looking statements or information. 

The information contained in this News Release derived from the Fair Bride Technical Report is subject to certain assumptions, qualifications and procedures described therein. Reference should be made to the full text of the Fair Bride Technical Report. The Fair Bride Technical Report is not and shall not be deemed to be incorporated by reference into this News Release. The Fair Bride Technical Report, and consequently the disclosure below, is prepared as of a certain point in time and Empress is not in a position to determine whether any information with respect to those properties that may be material subsequent to the date of the applicable Fair Bride Technical Report exists. 

No qualified person has verified the data disclosed in the Fair Bride Technical Report on Empress’ behalf, including sampling, analytical, and test data underlying the information or opinions contained in the Fair Bride Technical Report. As Empress is not the operator of the Fair Bride property, it does not have access to the data underlying the Fair Bride Technical Report and it is unable to perform such verification. 

Empress Royalty Corp. (TSXV:EMPR | OTCQB:EMPYF) (“Empress” or the “Company”) is pleased to announce the Company has received the first payable silver ounces from the silver stream agreement on the Tahuehueto Mine (“Tahuehueto” or the “Mine”). Tahuehueto Mine is located in Durango, Mexico, 100% owned and operated by Altaley Mining Corporation (“Altaley”). 

“I am excited to announce Empress has received its first payment of silver ounces from the Tahuehueto mine. It’s only been 12 months since the Tahuehueto silver stream was completed and this is a major milestone to see a development asset move forward to generate revenue for the Company”, stated Alexandra Woodyer Sherron, CEO and President of Empress. “Tahuehueto is an exceptional asset which is expected to generate significant revenue for Empress. It gives Empress direct exposure to silver and combined with our low G&A provides an effective hedge against inflation pressures as seen in other industries. Empress continues to build a strong portfolio of revenue generating gold and silver royalties and streams and Tahuehueto demonstrates our ability to deliver value to our shareholders.” 

THE INVESTMENT 

On April 16, 2021, Empress executed the US$5M silver stream agreement (“Stream”) with Altaley to purchase 100% of the payable silver production from Tahuehueto for the first 1,250,000 payable silver ounces. Thereafter, the percentage will step down to 20% of the payable silver production up to a maximum of 10 years. Empress will purchase the silver at 20% of spot price. 

PROJECT UPDATE 

Tahuehueto is located in Durango, Mexico. It is a typical epithermal polymetallic mineral deposit in this part of Mexico, with metals consisting of gold, silver, zinc, copper and lead. The Mine is fully permitted, has all social and environmental licenses to operate, and has offtake agreements in place. 

On April 26, 2022, Altaley filed an updated technical report, including a Preliminary Feasibility Study (“PFS”) for Tahuehueto. With the filing of the PFS report, Altaley updated the March 7, 2022, disclosure with a significant increase of approximately 30% to the overall economics of the project. Altaley expects to produce 2,166 oz/month of gold and 37,829 oz/month of silver, of which 100% of the silver is subject to the above terms of the Stream. Please see Altaley’s website (www.altaleymining.com) for further details on the PFS. Highlights from the Altaley press release include the following: 

• 2022 Preliminary Feasibility Study improves 2017 PFS increasing throughput to 1,000 tonnes per day (“tpd”) returning a post-tax NPV of US$161.3M, at a discount rate of 5%, (US$141.8M and US$131.8M at discount rate of 8% and 10% respectively). 
• IRR of 65% with a two year payback period with a 5% discount rate. 
• Total Life of Mine Capital Cost estimate of US$56.9M with project construction over 95% complete. 
• Life of Mine All in Sustaining Costs (“AISC”) estimated at US$844 per gold equivalent ounce at US$1,647.52/ounce Au, US$21.64/ounce Ag, US$0.92/pound Pb, US$1.14/pound Zn and US$3.60/pound Cu). 
• Proven & Probable Reserves of 3.58 million tonnes grading 2.55g/t gold, 50.06 g/t silver, 1.92% zinc, 1.11% lead, 0.26% copper. 
• 9-year Life of Mine (“LOM”) utilizing mostly low-cost bulk underground Sub-level Open Stoping mining method with average annual production of 25,987 oz of gold, 453,952 oz of silver, 827 tonnes of copper, 3,155 tonnes of lead and 6,123 k-lbs of zinc. 
• Significant opportunities exist to expand the Projects Mineral Resources and Reserves base with near mine and regional exploration. Altaley plans to aggressively pursue exploration as soon as free cash flows allow or alternative funding is secured. 

On May 16, 2022, Altaley announced Tahuehueto initiated pre-production mining and milling commissioning operations and construction efforts at the Mine were advanced to allow the start-up and commission of one ball mill capable of processing up to 500 tpd. Please see Altaley’s website (www.altaleymining.com) for further details on the announcement of pre-production. 

On June 27, 2022, Altaley updated their shareholders on the commissioning, pre-production, and construction progress at Tahuehueto. Please see Altaley’s website (www.altaleymining.com) for further details on the Tahuehueto ramp-up. Highlights are as follows: 

• Altaley stated the operations team have been diligently resolving various start-up issues related to the water supply pipeline and mill commissioning and, over the past week have successfully achieved ongoing pre-production with the first 500 tpd ball mill. Recently, processing has been stabilized with the mill achieving ore throughput up to 350 tpd and averaging approximately 195 tpd over the past 5 days. Mill throughput is estimated to remain at current levels over the next two weeks with crushing being handled with a provisional cone crusher while the permanent crushing circuit installation is being finalized and anticipated to be operational within the next two weeks and thereafter the ball mill throughput will be ramped up to capacity. 

• Altaley further updated on production that to date approximately 260 tonnes of bulk concentrate has been produced at Tahuehueto. Two shipments of approximately 30 tonnes each have been shipped and received to the point of sale. These initial batches of concentrate were produced from low-grade ore on purpose as original feed testing at the ball mill start-up. Revenue received from the first shipment was approximately US$42,000 paid for gold, silver, and lead. The second delivery payment is pending. Another 70 tons of concentrate is in the process of being shipped from Tahuehueto to Tepehuanes subsequently to be trucked in the coming days. The Tahuehueto operations team estimate that there are approximately another 150 tonnes of concentrate available, drying on the mill patio and within the thickeners available to be filtered for drying on the patios. 

• The tailings storage facility is in the final stages of construction and expected to be ready to receive dry stack tailings within 45 days. Tailings currently being generated are being filtered and stored as additional backfill underground. The Tahuehueto Laboratory is essentially ready to be operational and technicians are calibrating ICP and ancillary equipment expected to be fully operational over the next few days. 
• Installation of the second 500 tpd ball mill is scheduled over the next several months and the Company anticipates the project will be able to commission this mill during Q4 2022 and ramp up production towards the mine’s designed capacity of 1,000 tpd near the end of 2022. 

QUALIFIED PERSON 

Technical information in this news release originates in the public disclosure set out above and has been reviewed and approved by Richard Mazur, P.Geo., a Qualified Person as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects. 

ABOUT EMPRESS ROYALTY CORP. 

Empress is a global royalty and streaming creation company providing investors with a diversified portfolio of gold and silver investments. Since listing in December 2020, Empress has built a portfolio of 17 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 partnerships with Endeavour Financial and Terra Capital which allow Empress to not only access global investment opportunities but also bring unique mining finance expertise, deal structuring and access to capital markets. 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 Kaitlin Taylor, Investor Communications, by email at [email protected] or by phone at +1.604.331.2080. 

Neither 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 release. This news release contains statements about Empress’ expectations regarding the economics of the Tahuehueto mine which are forward-looking in nature and, as a result, are subject to certain risks and uncertainties. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as “expects”, “believes”, “anticipates”, “aims to”, “plans to” or “intends to” or variations of such words and phrases or statements that certain actions, events or results “will” occur. Although Empress believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them as actual results may differ materially from the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include the timing and success in Altaley completing the successful commissioning of the plant and bringing the Tahuehueto project into commercial production as planned. The forward-looking statements contained in this news release are made as of the date hereof, and Empress undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law. Readers should not place undue reliance on forward-looking statements or information. 

Empress Royalty Corp. (TSXV:EMPR | OTCQB:EMPYF) (“Empress” or the “Company”) is pleased to announce that pre-production has commenced at the Manica Gold Mine (“Manica” or the “Mine”). The Company owns a 3.375% royalty on Manica, which is located in Mozambique and operated by Mutapa Mining & Processing LDA (“MMP”). 

“Congratulations to the team at MMP for their hard work and dedication in taking Manica from a development stage project into a producing mine,” stated Alexandra Woodyer Sherron, CEO and President of Empress Royalty. “The Manica Gold Mine is our second development asset reaching pre-production and demonstrates our team’s ability to make strategic investments that create significant returns and value for our shareholders.” 

ABOUT EMPRESS ROYALTY CORP. 

Empress is a global royalty and streaming creation company providing investors with a diversified portfolio of gold and silver investments. Since listing in December 2020, Empress has built a portfolio of 17 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 partnerships with Endeavour Financial and Terra Capital which allow Empress to not only access global investment opportunities but also bring unique mining finance expertise, deal structuring and access to capital markets. 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 Kaitlin Taylor, Investor Communications, by email at [email protected] or by phone at +1.604.331.2080. 

Neither 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 release. Certain information contained herein constitutes forward-looking information or statements under applicable securities legislation and rules. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements are frequently identified by such words as may, will, plan, expect, anticipate, estimate, intend, indicate, scheduled, target, goal, potential, subject, efforts, option and similar words, or the negative connotations thereof, referring to future events and results. Forward looking statements in this press release include, but are not limited to, statements related to the implementation of Empress’ investment game plan and the anticipated returns on its investments. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Empress to be materially different from those expressed or implied by such forward-looking statements, including, but not limited to the risks and uncertainties identified in Empress’ most recent Annual Information Form filed on the Company’s profile on SEDAR at www.sedar.com. Although management of Empress has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate. Readers should not place undue reliance on forward-looking statements. Empress will not update any forward-looking statements except as required by applicable securities laws. Empress caution readers not to place undue reliance on these forward-looking statements and it does not undertake any obligation to revise and disseminate forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events. 

Empress Royalty Corp. (TSXV:EMPR | OTCQB:EMPYF) (“Empress” or the “Company”) is pleased to report that Altaley Mining Corp. (“Altaley”) has announced that pre-production has commenced at the Tahuehueto mine (“Tahuehueto” or the “Mine”) where Empress holds a 100% silver stream. Altaley is the owner and operator of the mine and recently filed an updated technical report, including a Preliminary Feasibility Study (“PFS”) for Tahuehueto. The PFS indicates an increase in the overall economics of the project. 

“We would like to congratulate the Altaley team for bringing Tahuehueto into pre-production”, stated Alexandra Woodyer Sherron, CEO and President of Empress Royalty. “It is extremely rewarding to see our initial investment moving forward from a development stage asset into a producing mine and we look forward to start receiving revenue from this mine in Q2 2022. The Tahuehueto silver stream is an example of the type of well-structured investments Empress intends to bring into the portfolio, to generate great returns for our shareholders.” 

Please see Altaley’s website (www.altaleymining.com) for further details. 

ABOUT EMPRESS ROYALTY CORP. 

Empress is a global royalty and streaming creation company that provides investors a diversified portfolio of gold and silver investments. Since listing in December 2020, Empress has built a portfolio of 17 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 partnerships with Endeavour Financial and Terra Capital which allow Empress to not only access global investment opportunities but also bring unique mining finance expertise, deal structuring and access to capital markets. 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 Kaitlin Taylor, Investor Communications, by email at [email protected] or by phone at +1.604.331.2080. 

Neither 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 release. 

This news release contains statements about Empress’ expectations regarding the economics of the Tahuehueto mine which are forward-looking in nature and, as a result, are subject to certain risks and uncertainties. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as “expects”, “believes”, “anticipates”, “aims to”, “plans to” or “intends to” or variations of such words and phrases or statements that certain actions, events or results “will” occur. Although Empress believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them as actual results may differ materially from the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include the timing and success in Altaley completing the successful commissioning of the plant and bringing the Tahuehueto project into production to result in the receipt of stream revenue to Empress. The forward-looking statements contained in this news release are made as of the date hereof, and Empress undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law. Readers should not place undue reliance on forward-looking statements or information. 

Empress Royalty Corp. (TSXV:EMPR | OTCQB:EMPYF) (“Empress” or the “Company”) is pleased to announce the appointment of Janet Meiklejohn as Chief Financial Officer of the Company. 

“It gives me great pleasure to welcome Janet to the Empress team as Chief Financial Officer,” stated Alexandra Woodyer Sherron, CEO and President of Empress Royalty. “Her appointment is an excellent addition to the executive team, which will further drive the execution of Empress’ business strategy and rapid growth plans. I look forward to working closely with her and the rest of our team as we take Empress to the next level.” 

Janet Meiklejohn, CPA, CA, MBA, CBV, is a highly accomplished senior financial executive with over twenty-five years’ experience in corporate finance and institutional equity sales. Most recently, Janet has worked as a Chief Financial Officer and as a member of the Executive Leadership Team for several high growth companies, both public and private. As an Institutional Equity Sales Vice President with leading Canadian investment banks, including Desjardins Securities, National Bank, Salman Partners, and Macquarie Capital, Ms. Meiklejohn has an established network of renowned institutional investors that focus on the mining sector. She brings further expertise in financial reporting, strategy, valuation, governance, and capital markets to Empress. 

Janet replaces Dan O’Brien as the Company’s CFO. The Management and Board of Directors would like to thank Dan for his dedication and support of Empress. 

ABOUT EMPRESS ROYALTY CORP. 

Empress is a new royalty and streaming creation company focused on providing investors with a diversified portfolio of gold and silver investments. Since listing in December 2020, Empress has built a portfolio of 17 precious metal investments. The Company continues to actively invest in mining companies with development and production stage projects that require additional non-dilutive capital. Empress also has strategic partnerships with both Endeavour Financial and Terra Capital. These strategic partnerships provide global investment opportunities, unique financial and deal structure expertise, and access to capital markets. Empress is looking forward to continuously creating value for its shareholders through the proven royalty and streaming models. 

ON BEHALF OF EMPRESS ROYALTY CORP. 

Alexandra Woodyer Sherron, CEO and President 

For further information, please visit our website at www.empressroyalty.com or contact Kaitlin Taylor, Investor Communications, by email at [email protected] or by phone at +1.604.331.2080. 

Neither 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 release.