sLOI On The Sleitat Mountain Tin-Silver Deposit

VANCOUVER - Electric Royalties Ltd. reported the signing of a binding letter of intent with a wholly-owned subsidiary of Cornish Metals Inc to acquire a newly granted 1% Net Smelter Royalty on mining claims comprising core strategic tenure at the Sleitat Mountain Tin-Silver deposit in Southwestern Alaska.

Brendan Yurik, CEO, said, "We are tremendously excited about adding the first tin royalty to our metals portfolio.  Tin prices have appreciated more than 90% in the past year and we believe projections for tin demand remain very bullish for the foreseeable future. In Sleitat, we have transacted on one of the very few hard rock tin assets in North America.  We believe securing a tin asset in a Tier 1 jurisdiction is particularly valuable in that China and Indonesia alone were responsible for more than 54% of global tin mine production in 2020.  The United States currently has no tin reserves, hasn't produced tin domestically since 1993 and imported 32,000 tonnes of refined tin in 2020.  A 2017 paper by the USGS reviewed the tin supply situation and identified Sleitat as one of only two tin deposits in the US with potential to be economically viable."