Summit Royalties Announces Agreement to Acquire Royalty on Newmont's Saddle North Deposit

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[{"type":"text","content":"Summit Royalties Announces Agreement to Acquire Royalty on Newmont's Saddle North Deposit\nTORONTO, March 12, 2026 (GLOBE NEWSWIRE) -- Summit Royalties Ltd. (TSXV: SUM, OTCQB: SUMMF) (the \"Corporation\" or \"Summit\") is pleased to announce that it has entered into an agreement to acquire a 1.0% net smelter return (\"NSR\") royalty on the Saddle North deposit (\"Saddle North\") owned by Newmont Corporation (\"Newmont\") for consideration of C$5 million paid in shares of Summit (\"Common Shares\"). The acquisition is subject to conditions precedent which are customary for a transaction of this nature. Subject to satisfaction of conditions precedents, Summit expects to complete the acquisition in the near future. \"We are excited to announce this proposed acquisition of a large, high-quality royalty on Newmont's Saddle North project,\" commented Drew Clark, President and CEO of Summit. \"The acquisition of the Saddle North royalty is highly accretive on a net asset value per share basis and provides exposure to a large gold-copper deposit under the stewardship of the world's largest gold producer. Having royalty coverage on a porphyry target that boasts nearly 9 Moz of gold and 4.8 Blbs of copper supports our mandate of providing Summit shareholders with high-quality precious metals exposure, and we are excited to have Newmont as the operator of the underlying asset as we continue to build our company on an accretive per-share basis.\" Transaction Key Terms Royalty Interest: 1% NSR royalty on the Saddle North depositOwner/Operator: Saddle North is owned by Newmont CorporationConsideration: C$5 million, to be paid in 2,832,861 Common Shares at a deemed price of $1.765 per Common Share, being the 20-day weighted average price of the Common Shares as of the date of the royalty purchase agreement for the NSRBuyback Option: Newmont may repurchase 50% of the NSR royalty for C$750,000 at any time during the five-year period commencing on the date Saddle North is put into commercial productionMineral Resource: The Saddle North Technical Report (as defined herein) reported indicated resources containing approximately 3.47 Moz Au and 1.81 Blbs Cu and inferred resources containing approximately 5.46 Moz Au and 2.98 Blbs Cu(1) Saddle North is a gold-rich copper porphyry deposit located in the Golden Triangle in northwest British Columbi...

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