Acquisition Completed Of Ethiopian Exploration Assets

VANCOUVER –  Frederick Bell, CEO of Elemental Altus Royalties Corp.  said it has completed the the sale of its Ethiopian exploration assets to Canadian incorporated ANS Exploration Corp. We are pleased to have followed the progress made by ANS over the course of the year and for the transaction to formally close following in-country approvals. We will maintain our exposure to exploration optionality through our retained 2.5% NSR royalties on the Daro and Zager projects, milestone payments of up to $1 million as the project progresses through studies and 5% equity interest in the holding company. We will also gain exposure to future value creation and exploration upside across ANS’s portfolio through the issue of equity in the parent company.