Empress Files Technical Report on Manica Gold Project

Rhea-AI Summary

Empress Royalty Corp. (TSXV:EMPR)(OTCQB:EMPYF) announced the filing of a technical report for its Manica Royalty Acquisition, detailing a 2.25% royalty on production from the Manica hard rock gold project in Mozambique. The report, titled "NI 43-101 Technical Report on the Fair Bride Gold Project, Mozambique - Mineral Resource Report", was prepared by Minxcon (Pty) Ltd and has an effective date of February 1, 2021. The company expects to finalize the acquisition soon and will issue additional updates thereafter.

Positive

• Agreement to acquire a 2.25% royalty on the Manica gold project, expanding revenue potential.
• Technical report filed provides an independent assessment of the project.
• Strategic partnerships enhance Empress's access to capital and investment opportunities.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / March 12, 2021 / Empress Royalty Corp. (TSXV:EMPR)(OTCQB:EMPYF) ("Empress" or the "Company") reports that in connection with its agreement to acquire a 2.25% royalty on production from the Manica hard rock gold project in Mozambique announced on February 22, 2021 (the "Manica Royalty Acquisition") it has filed a technical report under its profile at www.sedar.com.

The report is titled "NI 43-101 Technical Report on the Fair Bride Gold Project, Mozambique - Mineral Resource Report" (the "Report"). The Report was independently prepared for Empress Royalty Corp. by Minxcon (Pty) Ltd. and has an effective date of February 1, 2021.

The Company expects to close the Manica Royalty Acquisition shortly, and will issue a further press release when this has happened.

ABOUT EMPRESS ROYALTY CORP.
Empress is a new precious metals royalty and streaming company focused on the creation of unique financing solutions for mining companies. Empress has a portfolio of 15 investments and is actively focused on finding industry partners with development and production stage projects who require additional non-dilutive capital. The Company has strategic partnerships with Endeavour Financial in London, Terra Capital in Australia and Accendo Banco in Mexico which allow Empress to not only access global investment opportunities but also bring unique mining finance expertise, deal structuring and access to capital markets. Empress is looking forward to continuously creating value for its shareholders through the proven royalty and streaming models.

ON BEHALF OF EMPRESS ROYALTY CORP.
Per: Alexandra Woodyer Sherron, CEO and President

For further information, please visit our website at www.empressroyalty.com, or contact Alexandra Woodyer Sherron, CEO and President, by phone at +1.604.331.2080 or email at info@empressroyalty.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains statements about Empress' expectations regarding the Alliance Agreement which are forward-looking in nature and, as a result, are subject to certain risks and uncertainties. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "expects", "believes", "anticipates", "aims to", "plans to" or "intends to" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Although Empress believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them as actual results may differ materially from the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include Empress not being successful in identifying suitable investment opportunities, being able to successfully complete technical, financial or legal diligence in respect of investment opportunities it has identified, or being able to negotiate and enter into binding agreements for royalty or stream deals with potential counterparties. Readers are referred to the risk factors and contained in Empress' most recent annual information form for a description of the principal risks affecting Empress, its business and its securities. The forward-looking statements contained in this news release are made as of the date hereof, and Empress undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law. Readers should not place undue reliance on forward-looking statements or information.

SOURCE: Empress Royalty Corp.

View source version on accesswire.com:
https://www.accesswire.com/635285/Empress-Files-Technical-Report-on-Manica-Gold-Project

FAQ

What is the significance of the technical report filed by Empress Royalty Corp. for the Manica gold project?

The technical report provides an independent assessment of the mineral resources for the Manica gold project, supporting the value of the 2.25% royalty acquisition.

When did Empress Royalty Corp. announce the Manica Royalty Acquisition?

Empress Royalty Corp. announced the Manica Royalty Acquisition on February 22, 2021.

What is the expected outcome of the Manica Royalty Acquisition for Empress Royalty Corp.?

Empress Royalty Corp. expects to close the Manica Royalty Acquisition shortly, which would enhance its revenue stream.

Who prepared the technical report for the Manica gold project?

The technical report was independently prepared by Minxcon (Pty) Ltd.