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Elemental Royalty Options Three Exploration Licenses in Serbia to BHP
Vancouver, British Columbia--(Newsfile Corp. - January 16, 2026) - Elemental Royalty Corporation ...
About this update from Elemental Royalty Corporation
[{"type":"text","content":"Elemental Royalty Options Three Exploration Licenses in Serbia to BHPVancouver, British Columbia--(Newsfile Corp. - January 16, 2026) - Elemental Royalty Corporation (TSXV: ELE) (NASDAQ: ELE) (\"Elemental\" or the \"Company\") is pleased to announce the execution of a definitive option and earn-in agreement (the \"Agreement\") covering three exploration licenses in the Bor Mining District of Serbia to a wholly owned subsidiary of BHP Group Limited (\"BHP\"). The three exploration-stage projects are currently held by Elemental's wholly owned Serbian subsidiary Magma Resources doo (\"Magma\") and BHP will have the option to acquire Magma in exchange for cash payments and by satisfying work commitments. Elemental will retain 2% NSR royalties on the projects as well as other considerations (see discussion of Commercial Terms below). The Projects nicely complement Elemental's other royalty interests in the Bor District, which include the Brestovac, Brestovac West, and Jasikovo East-Durlan Potok properties (see Figure 1). Brestovac is one of Elemental's flagship royalties, covering Zijin Mining Group Co., Ltd's producing Čukaru Peki copper-gold mine and recently discovered Malka Golaja copper-gold deposit. Zijin has been rapidly expanding its Čukaru Peki operations, increasing capacity at its current mill while continuing to add infrastructure for the development of the \"Lower Zone\" porphyry copper-gold deposit. Zijin's published mineral resources and reserves for Čukaru Peki have also continued to grow rapidly, as shown in Zijin's recent annual reports. The Lenovac projects, included in the BHP Agreement, cover the extension of the geologic trend that hosts the Čukaru Peki and Malka Golaja copper-gold deposits to the south. Commercial Terms Overview. (all terms in USD)Pursuant to the Agreement, BHP can acquire and retain a 100% interest in Magma and the Projects by satisfying each of the following conditions: (a) making a payment of $200,000 to the Company on the six-month anniversary of the Agreement, (b) annual payments of $200,000 to the Company on every anniversary of the Agreement until the earn-in is complete, and (c) completing $5,000,000 in cumulative exploration expenditures on the Projects within five years.Upon BHP's option exercise and earn-in, Elemental will retain a 2% NSR royalty interest ...