Significant Resource Expansion Announced at AurMac Gold Project, Yukon

CRANBROOK, BC / ACCESSWIRE / June 1, 2023 / Eagle Royalties Ltd. ("Eagle Royalties") (CSE:ER.CN) has learned of a significant increase in an inferred resource at the AurMac Project in central Yukon from public announcements made recently by Banyan Gold Corp. Eagle Royalties owns royalty interests ranging from 0.5% to 2.0% on certain claims which comprise a portion of the AurMac Project.

As announced in a news release dated May 24^th, 2023, Banyan reported "an updated Mineral Resource Estimate (the "MRE" or the "Mineral Resource") prepared in accordance with National Instrument 43-101, Standards for Disclosure for Mineral Projects ("NI 43-101") for the Aurex ‎and McQuesten properties (together, the "AurMac Property")‎ ‎located in the Mayo Mining ‎District, approximately 56 kilometres ("km") northeast from the village of Mayo, Yukon, and 356 ‎km north of Whitehorse, Yukon. ‎

The updated MRE comprises a total Inferred Mineral Resource (as defined in the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") Definition ‎Standards for Mineral Resources & Mineral Reserves incorporated by reference into NI 43‑101) of 6.2 million ‎ounces of gold on the near-surface, road accessible AurMac Property". Additional information is expected to be included in a NI 43-101 Technical Report to be filed on SEDAR with 45 days of the May 24^th announcement.

Table 1
Constrained Inferred Mineral Resources - AurMac Property

Deposit	Gold Cut-Off (g/t)	Tonnage	Average Gold Grade (g/t)	Contained Gold (koz)
		(Mt)
Airstrip	0.25	41.2	0.68	897
Powerline	0.25	197.4	0.61	3,840
Aurex Hill