Summit Royalties Announces Agreement to Acquire Royalty on Newmont's Saddle North Deposit

Core Viewpoint - Summit Royalties Ltd. has announced an agreement to acquire a 1.0% net smelter return (NSR) royalty on Newmont Corporation's Saddle North deposit for C$5 million, paid in shares, which is expected to enhance the company's net asset value per share and provide exposure to a significant gold-copper resource [1][2]. Acquisition Details - The acquisition involves a 1% NSR royalty on the Saddle North deposit owned by Newmont Corporation [8]. - The total consideration for the acquisition is C$5 million, to be paid in 2,832,861 Common Shares at a deemed price of $1.765 per share, based on the 20-day weighted average price [8]. - Newmont has a buyback option to repurchase 50% of the NSR royalty for C$750,000 within five years of commercial production [8]. Saddle North Deposit Overview - Saddle North is a gold-rich copper porphyry deposit located in the Golden Triangle of northwest British Columbia, Canada [4][5]. - The deposit contains indicated resources of approximately 3.47 million ounces (Moz) of gold and 1.81 billion pounds (Blbs) of copper, and inferred resources of approximately 5.46 Moz of gold and 2.98 Blbs of copper [8]. - The mineralization at Saddle North remains open at depth and has potential for further exploration success [4]. Resource Estimates - The total indicated resources at Saddle North are 298 million tonnes (Mt) with an average grade of 0.28% copper and 0.36 grams per tonne (g/t) gold, containing approximately 1,809 million pounds of copper and 3,471 thousand ounces of gold [6]. - The inferred resources total 543 Mt with an average grade of 0.25% copper and 0.31 g/t gold, containing approximately 2,982 million pounds of copper and 5,455 thousand ounces of gold [9]. Company Background - Summit Royalties Ltd. is a precious metals royalty and streaming company focused on building a portfolio of high-quality precious metals exposure and long-term cash flow growth [11]. - The company currently has no debt and sufficient cash on hand for future acquisitions [11].