Eagle Royalties Acquires East Goldfield Royalty in Nevada, Issues Incentive Options - Seite 2

Silver Range acquired the initial property area by staking in 2018 and has since mapped over 75 workings on the Property. The most significant mineralized occurrence is the Tom Keane Mine, located on the southern margin of the structural corridor. Historical reports document development on four levels with approximately 871 m of drifting and cross-cuts and 213 m of shaft, winze and raise development. Small lease production is mentioned but not specified in these reports. A 1935 evaluation report cited assays of 6.1 m @ 4.11 g/t Au (20' grading .12 oz/t) from the 319 foot level and 11.6 m @ 2.88 g/t Au (38' grading .084 oz/t) from the 219 foot level. In 2003, Metallic Gold Ventures Inc. drilled ten holes in the immediate area of the Tom Keane Mine, reporting gold-enriched intersections in 9 holes, with the best intersections being 4.57 m @ 8.23 g/t Au and 44.20 m @ 1.03 g/t Au.

In 2020, Silver Range expanded the claim block from 4 to 69 claims and optioned the property to ATAC Resources. ATAC prospected, sampled and drilled the property in 2021, with best reported surface chip samples returning 4.16 g/t Au over 8 m, including 7.87 g/t Au over 3 m. In a subsequent drill program, ATAC reported a "broad, mineralized system" with gold values in 8 of 13 holes drilled, with best reported intersections of 82.30 m @ 0.31g/t Au including 9.15 m @ 1.03g/t Au. ATAC terminated the option in February 2022, prior to the Goldfield District acquisition by Centerra.

Tim Termuende is a director of both Eagle Royalties and Silver Range and accordingly has abstained from voting on resolutions relating to the transaction.

Incentive Options Issued

Eagle Royalties has issued incentive stock options to directors, employees and key consultants of the Company for the purchase of a total of 3,700,000 shares at an exercise price of $.30 per share, expiring August 8^th 2029, pursuant to the Company's current option plan (subject to shareholder and regulatory approvals).

Qualified Person

Technical information in this news release has been reviewed and approved by C.C. Downie, P.Geo., a director and officer of Eagle Royalties, hereby identified as a "Qualified Person" under N.I. 43-101.

About Eagle Royalties Ltd.

Eagle Royalties was previously a wholly-owned subsidiary of Eagle Plains Resources Ltd. ("EPL":TSX-V), incorporated in late 2022 to manage the diverse royalty holdings of EPL. In May 2023, ER was spun out to Eagle Plains' shareholders on a 1:3 basis by means of a plan of arrangement. Concurrent with the spin-out transaction, Eagle Royalties amalgamated with 1386884 B.C. Ltd., which effectively provided ER with CDN $2.7M in initial funding. Eagle Royalties was listed for trading on the Canadian Securities Exchange ("CSE") on May 19^th, 2023.

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