Summit Royalties Completes Acquisition of Star Royalties and Provides Corporate Update

Summit Royalties Ltd. ("Summit") (TSXV: SUM, OTCQX: SUMMF) and Star Royalties Ltd. (TSXV: STRR, OTCQX: STRFF) ("Star") are pleased to announce the successful completion of Summit's acquisition of Star by way of plan of arrangement under the Canada Business Corporations Act (the "Arrangement"). The Arrangement materially expands Summit's portfolio with the addition of Star's royalty and streaming interests, including a 4% gold stream on Mining Americas Inc. ("Mining Americas") (formerly Minera Alamos Inc.) Copperstone project in Arizona. With the closing of the Arrangement, Summit's portfolio now includes 48 royalties and streams, anchored with four producing assets, two assets expected to enter construction in 2026 which are targeted to begin production in 2027, and 42 additional royalties expected to add additional cash flow growth and optionality for years to come. Pursuant to the Arrangement, among other things, Summit acquired all of the issued and outstanding common shares of Star (the "Star Shares") in exchange for an aggregate 28,944,162 common shares of Summit (the "Summit Shares"), representing 0.36 Summit Shares for each Star Share held immediately prior to the effective time of the Arrangement (the "Consideration"). "Completing the acquisition of Star is a major milestone for Summit and an important step in our pursuit of building a scaled, cash-flowing precious metals royalty and streaming business," said Drew Clark, President and Chief Executive Officer of Summit. "Star adds the Copperstone gold stream, which provides Summit with exposure to a fully permitted Arizona gold project where Mining Americas recently announced a positive pre-feasibility study and a for...