Star Royalties Repurchases Royalty on Elk Gold Mine

TORONTO, ON — December 11, 2025 — Leads & Copy — Star Royalties Ltd. has entered a binding agreement with Nhwelmen Construction Limited Partnership (NCLP) for Elk Gold Mining Corp. to repurchase Star Royalties’ 2% net smelter return (NSR) royalty on the Elk Gold Mine.

In exchange, Star Royalties will receive 5% equity ownership of Gold Mountain Mining Corp. immediately following the resolution of Gold Mountain’s court-appointed receivership process, plus a C$500,000 payment to Gold Mountain, payable in two equal tranches of C$250,000 on January 15, 2026, and on March 30, 2026.

The company will also retain customary anti-dilution and tag-along rights following the resolution of Gold Mountain’s receivership, giving the company exposure to an expanded area of 21,187 hectares.

Lindsay Thompson, Chief Strategy Officer of NNTC, said the support and resources provided by Star Royalties were a key part for the acquisition and also for accelerating their broader mining expansion strategy in British Columbia.

Alex Pernin, P.Geo., Chief Executive Officer and Director, apernin@starroyalties.com, +1 647 494 5001

Dmitry Kushnir, CFA, VP, Investor Relations and Strategy, dkushnir@starroyalties.com, +1 647 494 5088

Source: Star Royalties Ltd.