Star Royalties Highlights Positive Copperstone Construction Decision and PFS Results by Minera Alamos

(TheNewswire)

May 29, 2026, TORONTO, ON -TheNewswire – Star RoyaltiesLtd. (“Star Royalties”, or the “Company”) (TSXV:STRR, OTCQX: STRFF) is pleased to highlight the positive constructiondecision and results of the Pre?Feasibility Study (“PFS”) announced byMinera Alamos Inc. (“MineraAlamos”) (TSXV: MAI, OTCQX: MAIFF) for its100%-owned Copperstone Gold Project (“Copperstone”) in LaPaz County, Arizona. The PFS confirms a robust, low?capital,high?return underground gold project with initial productionexpected mid-2027. Star Royalties holds a 4% gold stream onCopperstone. All amounts are in U.S. dollars, unless otherwiseindicated. Neither TSX Venture Exchange nor its Regulation ServicesProvider accepts responsibility for the adequacy or accuracy of thisrelease.

Highlights

• Exceptional project economics:The Copperstone PFS outlines an after?tax NPV5% of $374million, an after?tax IRR of 108%, and total after?tax net cashflow of $512 million at a base case gold price of $3,500/oz. At a spotgold price of $4,500/oz, after?tax NPV5% increases to $537 millionwith an IRR of 154%. 

• Positive construction decision andnear?term production: Minera Alamos’ Board of Directors hasapproved full?scale construction, with initial gold productionexpected mid-2027, to average 46 koz of gold annually over a 6.3-yearmine-life. Construction is anticipated to take approximately one year,while a planned 3-month ore stockpile ahead of millstartup is expected to help de-bottleneck the commissioning andramp-up of the project. 

• Low capital intensity and rapidpayback: Initial capital costs are expected to total $58million, resulting in a compelling NPV?to?capex ratio of 6.4x atthe base case $3,500/oz gold price scenario with a payback of 1.2years. 

• Significantly increased resourcebase: Measured & Indicated Resources of 4,054 kt grading4.83 grams per tonne gold (“g/t”) and containing 630 koz gold represent a 110% increasein contained gold ounces compared to the previous mineral resourceestimate. In addition, maiden Proven & Probable Reserves of 1,934kt grading 4.87 g/t and containing 303 koz gold have been declared. 

• Stream valuation uplift for StarRoyalties: The PFS production profile of 291 koz over a6.3?year mine-life and average annual production of 46 koz representa significant increase in the value of Star Royalties’ 4% goldstream on Copperstone, relative to prior technical studies. At a spotgold price of $4,500/oz, the Company estimates its 4% gold stream togenerate approximately $39 million in life-of-mine pre-tax cash flow,prior to any mine-life extension from resource conversion andexploration success. 

• Significant exploration andmine?life extension potential: Minera Alamos has identifiedmeaningful additional upside from down?plunge extensions ofhigh?grade underground zones as well as infill and step?outdrilling planned during mining operations. 

• Additional open pit potential:Copperstone has an extensive history of both open pit and undergroundmining. For the purposes of the updated PFS, only undergroundaccessible Resources were considered.  A portion of these Resourcesexist in near-surface areas in proximity to the historic open pitexcavations and Minera Alamos believes there is potential for goldmineralization to be extracted via open pit mining methods. Thisopportunity will be more fully evaluated over the course of 2026 and2027. 

Alex Pernin, Chief Executive Officer of Star Royalties, commented:“We are encouraged by the Copperstone PFS results andMinera Alamos’ decision to fast?track construction. This studyconfirms Copperstone as a high?return, low?capital project withnear?term production and significant exploration upside with thepotential for a concurrent open pit operation in the coming years. Attoday’s gold prices, the economics of both the project andespecially our 4% gold stream continue to strengthen, yet we believeour stream’s ultimate value is still not reflected in our shareprice. With construction commencing shortly and first gold productionexpected in mid-2027, Copperstone represents a major value creationcatalyst for Star Royalties shareholders.”

Copperstone PFS Highlights

Source:  MineraAlamos news release on May 27, 2026.

The Company is relying on MineraAlamos’ disclosure from its May 26, 2026 press release for theaccuracy of Copperstone-related information and on Mr. DarrenKoningen, P. Eng., Minera Alamos’ CEO, as the Qualified Personresponsible for the technical content related to Copperstone underNational Instrument 43-101.

CONTACT INFORMATION

For more information, please visit our website atstarroyalties.com orcontact:

About Star Royalties Ltd.

Star Royalties Ltd. is a precious metals and carbon credit royalty andstreaming company. The Company’s objective is to provide wealthcreation by originating accretive transactions with superior alignmentto both counterparties and shareholders. The Company offers investorsexposure to precious metals as well as carbon credit prices throughits pure-green joint venture, Green Star Royalties Ltd., havinginnovated the world’s first carbon credit royalties.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

Certain statements in this news release may constitute"forward-looking statements", including those regarding futuremarket conditions for metals and minerals, future valuation of MineraAlamos, development and production of Copperstone, permitting andconstruction scheduling of Coppertone, future location of Copperstonegrinding and flotation equipment, expected future cash flow from thestream agreement, the Company’s position in Copperstone’s futuregold production, the net cash position of the Company, and futurecapital raising opportunities are statements that address or discussactivities, events or developments that the Company expects oranticipates may occur in the future. When used in this news release,words such as "estimates", "expects", "plans","anticipates", "will", "believes","intends" "should", "could", "may" andother similar terminology are intended to identify suchforward-looking statements. Forward-looking statements are made basedupon certain assumptions and other important factors that, if untrue,could cause the actual results, performances or achievements of StarRoyalties to be materially different from future results, performancesor achievements expressed or implied by such statements.Forward-looking statements should not be read as a guarantee of futureperformance or results and will not necessarily be an accurateindication of whether or not such results will be achieved.

A number of factors could cause actual results,performances or achievements to differ materially from suchforward-looking statements, including, without limitation, changes inbusiness plans and strategies, market and capital finance conditions,ongoing market disruptions caused by the Ukraine and Russian conflict,metal and mineral commodity price volatility, discrepancies betweenactual and estimated production and test results, mineral reserves andresources and metallurgical recoveries, mining operation anddevelopment risks relating to the parties which produce the metals andminerals Star Royalties will purchase or from which it will receiveroyalty payments, risks inherent to royalty companies, title andpermitting matters, activities by governmental authorities, currencyfluctuations, the global, federal and provincial social and economicclimate in particular with respect to addressing and reducing globalwarming, natural disasters and global pandemics, dilution, riskinherent to any capital financing transactions. These risks, as wellas others, could cause actual results and events to varysignificantly. Accordingly, readers should exercise caution in relyingupon forward-looking statements and the Company undertakes noobligation to publicly revise them to reflect subsequent events orcircumstances, except as required by law.

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