Electric Royalties Ltd. Announces Significant Portfolio Updates and Upcoming Projects

Electric Royalties Ltd. provided an optimistic update regarding its royalty portfolio, emphasizing the progress across its core holdings. Among the highlights, the Seymour Lake Lithium Project is advancing with an upcoming feasibility study expected in Q4 2024, aiming to solidify its stance as a leading lithium project in Ontario. Additionally, the Mont Sorcier Iron and Vanadium Project is seeing positive metallurgical results, contributing to its development strategy.

The company is also poised to grow its portfolio substantially, pending the acquisition of 22 royalty agreements and 36 prospective lithium properties in Ontario, which was initially announced in November 2023. This expansion is supported by shareholder approval to increase the credit facility by C$10 million, facilitated by Stefan Gleason, the company's largest shareholder.

Updates on various projects were provided, including the positive lithium assay results from the Seymour Lake Project by Green Technology Metals, positive metallurgical test results from the Mont Sorcier Project by Cerrado Gold Inc., and plans for a diamond drill program at the Battery Hill Manganese Project by Manganese X Energy Corp. Additionally, Buxton Resources Limited has initiated Aboriginal Heritage Surveying at the Graphite Bull Graphite Project, and Tartisan Nickel Corp. is progressing with infrastructure and community engagement at the Kenbridge Nickel Project. Strategic Minerals Europe Corp. also announced a business combination agreement, aiming for completion in June 2024.

Finally, Electric Royalties confirmed the approval of resolutions at a recent special meeting of shareholders, welcoming the amended convertible loan agreement with Stefan Gleason.