RCS - Empress Royalty Corp - Empress Provides Update on Investment Portfolio

Empress RoyaltyAnnouncement

15/11/2021 12:05

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RNS Number : 3023S  Empress Royalty Corp.  15 November 2021

NEWS RELEASE | NOVEMBER 15, 2021 | VANCOUVER, BC

EMPRESS ROYALTY PROVIDES UPDATE ON INVESTMENT PORTFOLIO

Empress Royalty Corp. (TSXV:EMPR | OTCQB:EMPYF) ("Empress Royalty" or the
"Company") is pleased to provide an update on its investment portfolio and
mining company partners.

"The exciting progress being made at each of our investments demonstrates
Empress Royalty's ability to invest in high quality projects with strong
management teams creating long term value for both our shareholders and the
shareholders of our mining company partners," stated Alexandra Woodyer
Sherron, CEO and President of Empress Royalty.  "These project updates are
the catalysts for Empress Royalty to achieve significant shareholder value and
revenue in 2022."

TAHUEHUETO SILVER STREAM - Construction On Time & On Budget

Altaley Mining Corp. ("Altaley") continues to advance Tahuehueto toward
production and recently announced that construction is on time and on budget
(see Altaley press release November 2, 2021). Altaley has also recently
announced that it has engaged MGA as an underground mining contractor.  MGA
is a well known underground mining contractor with extensive experience in
Mexico.  Prior underground development at Tahuehueto provides about 75% of
the initial two years of to-be-mined material or "stoped-out inventory", with
the contractor completing underground development for 100% of the stoped-out
inventory.  This materially de-risks ramp-up risks and accelerates initial
and eventual steady-state production, resulting in silver by-product
production, that will be subject to the Empress Royalty silver stream.
Initial production from Tahuehueto is noted to be near the end of 2021 with
ramp-up continuing into the first quarter of 2022.   As noted by Altaley,
contractors and construction have been working at site since July 2021 and
multiple site visits have been completed by Empress Royalty in 2020 and
2021.  Please see Altaleys's website (www.altaleymining.com
(http://www.altaleymining.com) ) for further details.

SIERRA ANTAPITE GOLD STREAM - Production Expansion in Progress

Sierra Sun Group ("Sierra Sun") reports that it is conducting on-going
expansion of operations at the Sierra Antapite gold mine.  Proceeds from the
Empress Royalty stream have been used to continue expansion of the plant from
750 tonnes per day to 1,000 tonnes per day, to expand and enhance the tailings
storage facility, to retire payments and to further develop the underground
mine.  A site visit by a third-party engineering firm was completed in March
2021 and Empress Royalty visited the site in September 2021.  Empress Royalty
receives weekly updates from Sierra Sun on the production expansion
progress.  Sierra Sun continues to deliver gold to Empress Royalty since
commencement in August 2021.  Please see Sierra Sun Group's website
(www.sierrasungroup.com (http://www.sierrasungroup.com) ) for further
details.

MANICA GOLD ROYALTY - Construction Underway

Since closing the Manica royalty at the end of April 2021, Mutupa Mining
Processing ("MMP") has completed engineering and procurement and reports
construction is well progressed.  Specifically, the bulk of the earthworks is
complete, concrete has been poured for the plant, the CIL tanks have been
fabricated and the tailings dam construction is complete.  Several items of
the modular plant equipment have been fabricated and transported from South
Africa to site and are currently undergoing installation.  Further, the
processing plant water storage tank and power is connected and available via a
40 mVA transformer.  The mining contractor has been mobilized and
preparations are underway for commencement of mining.  MMP reports it expects
to commence initial production in the first quarter of 2022.  Empress has
completed two site visits in 2021 through a third party engineering firm, and
receive weekly updates from management on construction progress.

PINOS GOLD & SILVER ROYALTY - Private Placement Closed

Candelaria Mining Corp. ("Candelaria") announced that it has closed their
upsized private placement for a total C$8,441,770 which resulted in Agnico
Eagle increasing their ownership in Candelaria from a 9.9% equity stake to a
19.9% on a pre-diluted basis (see Candelaria's press releases October 29,
2021).  Proceeds from the upsized private placement will be used for Caballo
Blanco exploration, on-going development of the Pinos project and for working
capital.  Candelaria continues to advance the Pinos project and is currently
in discussions with potential debt financiers.  Empress Royalty completed
site visits in 2020 and 2021 and continues to be provided updates by
Candelaria.  Please see Candelaria's website (www.candelariamining.com
(http://www.candelariamining.com) ) for further details.

ABOUT EMPRESS ROYALTY CORP.

Empress Royalty is a new royalty and streaming creation company focused on
providing investors with a diversified portfolio of gold and silver
investments.  Since publicly listing in December 2020, Empress Royalty 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 Royalty to not only
access global investment opportunities but also bring unique mining finance
expertise, deal structuring and access to capital markets.  Empress Royalty
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
(http://www.empressroyalty.com) or contact Kaitlin Taylor, Investor
Communications, by email at info@empressroyalty.com 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 Alliance Agreement 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 Empress Royalty not being successful in or deciding not to pursue
opportunities in the royalties business.  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.

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