Elemental Altus Notes Regulatory Approval for Expansion at Cornerstone Karlawinda Royalty

Core Viewpoint - Elemental Altus Royalties Corp. has received regulatory approval for the Karlawinda Expansion Project, which is expected to increase annual gold production by approximately 25% to 150,000 ounces per annum, benefiting the company through its 2% net smelter return royalty [1][3][6]. Group 1: Project Details - The Karlawinda Expansion Project includes expanded mining activities at the existing Bibra pit and further development at the Southern Corridor and Berwick open pits [3][6]. - Capricorn Metals plans to increase mill throughput from 4 million tonnes per annum (Mtpa) to 6.5 Mtpa, which will lift gold production to approximately 150,000 ounces per year [6]. - Construction of a second tailings storage facility and a parallel crushing and milling circuit is part of the expansion, designed to maximize the use of existing infrastructure [3][6]. Group 2: Financial and Operational Impact - The expansion is expected to be completed over a 12-month development timeline, with procurement and early site works already underway [4][6]. - The announcement of the expansion follows a 15% increase in Mineral Reserves to 1,428 thousand ounces of gold, with a total of 57.7 million tonnes at a grade of 0.8 g/t Au [5][6]. - Indicated Resources have increased to 1,965 thousand ounces of gold in 85 million tonnes at a grade of 0.7 g/t Au, while Inferred Resources include an additional 287 thousand ounces of gold [5].