Star Royalties to Exchange Elk Gold Royalty for Equity Stake in Gold Mountain After Receivership

Toronto, ON — December 11, 2025 — Leads & Copy —

Star Royalties Ltd. (TSXV: STRR, OTCQX: STRFF) has entered a binding agreement with Nhwelmen Construction Limited Partnership (NCLP) for Elk Gold Mining Corp., a subsidiary of Gold Mountain 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 immediately following the resolution of Gold Mountain’s court-appointed receivership process.

The agreement includes an option for Star Royalties to acquire 5% of Gold Mountain’s outstanding shares or any successor company after the receivership. Star Royalties will make a C$500,000 payment to Gold Mountain, split into two tranches of C$250,000 due January 15, 2026, and March 30, 2026. Following the receivership, Star Royalties will retain anti-dilution and tag-along rights.

Kevin MacLean, Chief Investment Officer of Star Royalties, noted the equity position in Gold Mountain will give Star Royalties exposure to an expanded area of 21,187 hectares. Lindsay Thompson, Chief Strategy Officer of NNTC, stated that the support from Star Royalties was a key part for the acquisition and for accelerating the 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.