Electric Royalties Ltd. (TSXV:ELEC)(OTCQB:ELECF) ('Electric Royalties' or the 'Company') is pleased to provide the following update on its royalty portfolio.

Brendan Yurik, CEO of Electric Royalties, commented: 'Despite softer commodity markets, we're still bullish on clean energy metal demand fundamentals and believe that governments will increasingly prioritize domestic sources of these critical metals. This is particularly true for North America, Europe, and Australia, where the vast majority of our royalty interests lie and where continued progress continues to be made across the portfolio.

'Seymour Lake has the potential to be the first lithium producer in Ontario, with a feasibility study slated for completion later this year and potential commencement of production in two years. It is the most advanced lithium project in Ontario, with an offtake agreement with South Korean battery maker LG Energy Solution to acquire 25% of the concentrate produced from Seymour Lake's first five years of production.

'The potential addition of manganese to Canada's list of prioritized critical minerals for federal support is overdue and could be a boon for the Battery Hill project - one of the very few manganese projects in North America suitable for battery production and the most advanced from a metallurgical standpoint.

'Rana's regional exploration is advancing steadily, with Kingrose Mining's support to carry on exploring the project. All of these positive developments and more below, as always, come at no cost to Electric Royalties. We are pleased to see our portfolio of 22 royalties increasingly weighted towards advanced development and production.'

About Electric Royalties Ltd.

Electric Royalties is a royalty company established to take advantage of the demand for a wide range of commodities (lithium, vanadium, manganese, tin, graphite, cobalt, nickel, zinc and copper) that will benefit from the drive toward electrification of a variety of consumer products: cars, rechargeable batteries, large scale energy storage, renewable energy generation and other applications.

Electric vehicle sales, battery production capacity and renewable energy generation are slated to increase significantly over the next several years and with it, the demand for these targeted commodities. This creates a unique opportunity to invest in and acquire royalties over the mines and projects that will supply the materials needed to fuel the electric revolution.

Electric Royalties has a growing portfolio of 22 royalties. The Company is focused predominantly on acquiring royalties on advanced stage and operating projects to build a diversified portfolio located in jurisdictions with low geopolitical risk, which offers investors exposure to the clean energy transition via the underlying commodities required to rebuild the global infrastructure over the next several decades toward a decarbonized global economy.

Contact:

Brendan Yurik

CEO, Electric Royalties Ltd.

Tel: (604) 364-3540

Email: Brendan.yurik@electricroyalties.com

Cautionary Statements Regarding Forward-Looking Information and Other Company Information

This news release includes forward-looking information and forward-looking statements (collectively, 'forward-looking information') with respect to the Company within the meaning of Canadian securities laws. This news release includes information regarding other companies and projects owned by such other companies in which the Company holds a royalty interest, based on previously disclosed public information disclosed by those companies and the Company is not responsible for the accuracy of that information, and that all information provided herein is subject to this Cautionary Statement Regarding Forward-Looking Information and Other Company Information.Forward looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. This information represents predictions and actual events or results may differ materially. Forward-looking information may relate to the Company's future outlook and anticipated events and may include statements regarding the financial results, future financial position, expected growth of cash flows, business strategy, budgets, projected costs, projected capital expenditures, taxes, plans, objectives, industry trends and growth opportunities of the Company and the projects in which it holds royalty interests.

While management considers these assumptions to be reasonable, based on information available, they may prove to be incorrect. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company or these projects to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks, uncertainties and other factors include, but are not limited to risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regulatory developments involving the renewable energy industry; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the mining industry generally, recent market volatility, income tax and regulatory matters; the ability of the Company or the owners of these projects to implement their business strategies including expansion plans; competition; currency and interest rate fluctuations, and the other risks.

The reader is referred to the Company's most recent filings on SEDAR as well as other information filed with the OTC Markets for a more complete discussion of all applicable risk factors and their potential effects, copies of which may be accessed through the Company's profile page at sedarplus.ca and at otcmarkets.com.

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