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ELEMENTAL R ROYALTIES Elemental Royalties Announces Q2 2021 Results VANCOUVER , BC , Aug. 23 , 2021 / CNW / - Elemental Royalties Corp. ( " Elemental " or " the Company " ) ( TSXV : ELE ) ( OTCQX : ELEMF ) is pleased to announce its operating and financial results for the three and six months ended June 30 , 2021. For complete details please refer to the Financial Statements and associated Management Discussion and Analysis for the three and six months ended June 30 , 2021 , available on SEDAR ( www.sedar.com ) or the Company's website ( www.elementalroyalties.com ) . Frederick Bell , CEO of Elemental commented , " The highlight of Q2 was the successful first gold pour at our cornerstone Karlawinda royalty in Australia . Completed on time and on budget , Karlawinda is a high - quality mine that materially de - risks the Company's royalty portfolio with approximately 80 % by NAV now coming from operating assets . With active exploration programs underway across the portfolio , we look forward to continued organic resource growth and additional value being created for shareholders at no cost to the Company . We also remain engaged on a robust pipeline of royalty opportunities to complement the doubling of royalty revenue expected going into 2022. " Asset Highlights • Commissioning and first gold pour at cornerstone royalty Karlawinda with an expected life of mine annual production run rate of 110,000 - 125,000 gold ounces Wahgnion performing well and on track for 2021 production of 158,000 - 173,000 gold ounces . Over 9,500m of drilling completed , representing approximately 25 % of the exploration budget and the program is expected to ramp up in H2 2021 • Amancaya maintained 2021 guidance of 45,000 to 50,000 gold equivalent ounces plus the sale of approximately 6,000 ounces of gold in bullion following disruptions in Q2 2021 primarily due to equipment availability • First royalty revenue received from the new Tuart underground mine at Mount Pleasant , where Zijin Mining's ( SSE : 601899 , HKG : 2899 ) fully owned subsidiary Norton Goldfields is undertaking development work Equinox Gold ( TSX / NYSE - A : EQX ) completed the acquisition of Premier Gold Mines , operator of the producing Mercedes mine where Elemental holds a 1 % NSR royalty that will be paying from July 2022 following a time hurdle • Future Metals ( ASX : FME ) completed the acquisition of the Panton PGM project where Elemental holds a 0.5 % NSR royalty with a 10,000m drill program to commence in Q3 2021 Financial Highlights • Revenue of US $ 1.2 million generated from four royalties , with Karlawinda to start contributing from Q3 • 683 attributable gold equivalent ounces 1 sold in Q2 2021 and 1,323 attributable gold equivalent ounces sold in H1 2021 at zero cash cost to the Company • 2021 guidance of 4,000 to 4,400 gold equivalent ounces and US $ 7.0 - 7.9 million remains unchanged , weighted towards H2 2021 • Adjusted EBITDA1 of US $ 0.6 million for Q2 2021 and US $ 1.2 million for H1 2021 • Net loss of US $ 1.2 million for Q2 2021 and US $ 2.3 million for H1 2021