• Winsome Resources estimated US$296 million of undiscounted cashflows to LRC from a 21-year life-of-mine that only includes approximately 46% of current Mineral Resource¹
• Based on SC6 pricing of approximately $1,250 per tonne and Winsome Resources’ production estimates, LRC estimates annual royalty revenue of approximately US$13 million¹
• Li-FT Power Ltd. (Li-FT) announced that it has agreed to acquire 100% of the issued shares in Winsome Resources for A$0.501 per share; a 62% premium to the undisturbed price
• Strategic support announced from Avenir Minerals, the new wholly owned critical minerals focused subsidiary of Agnico Eagle
• Li-FT announced a concurrent private placement of C$40 million primarily to fund exploration and development of the Adina project, with Avenir intending to participate in funding
• LRC holds a 4.0% GOR royalty on the original 57 claims that comprise the Adina project

TORONTO--(BUSINESS WIRE)--Dec. 15, 2025-- Lithium Royalty Corp. (TSX: LIRC) (“LRC”) congratulates Li-FT and Winsome Resources Limited on their proposed combination to consolidate an important lithium project in Québec and Canada². LRC expects that the combination of Li-FT Power and Winsome Resources will accelerate and fast track the Adina project and the neighbouring Galinée property in Québec. Lithium Royalty Corp. owns a 4.0% GOR royalty on the Adina project.

“LRC extends a sincere congratulations to both Li-FT and Winsome Resources on their agreement to consolidate into a larger organization and fast-track the Adina project to production. Avenir’s support to the combined entity is expected to be transformative, accelerating the project’s development and unlocking meaningful royalty cash flows for LRC investors. The operating success, Québec experience, and balance sheet capabilities of Avenir should prove very fruitful for the future of Adina and the value of our royalty on the project,” said Ernie Ortiz, President and CEO of LRC.

Li-FT commented that a rationale for the transaction is to unlock value at the Adina and neighboring Galinée project, with the potential to significantly enhance Adina’s scale and project economics by integrating Galinée and potentially expanding the mineral resource and increasing open-pittable resources.

On October 29, 2025, Agnico Eagle announced that it had established a wholly owned subsidiary, Avenir Minerals, which is dedicated to evaluating and advancing critical mineral opportunities in the regions that Agnico Eagle operates in, with an initial geographic focus on Canada. Li-FT disclosed that the transaction has the support of Avenir and that Avenir intends to participate in the concurrent C$40 million equity financing by Li-FT.

On September 17, 2024, Winsome Resources released a Scoping Study on the Adina project, which outlined compelling economics for the project³. The study highlighted an active production period of 17 years, with annual production of 282,000 tonnes of 5.5% spodumene concentrate (SC5.5) with average lithium oxide grade processed of 1.33% and average lithia recoveries of 68.6%⁴. The scoping study assumed commodity prices of US$1,375/tonne at SC5.5. Winsome estimated all-in sustaining costs (AISC) of US$693/tonne FOB, supporting attractive economics at current commodity prices. The scoping study estimated US$296 million in undiscounted royalty cash flows to LRC from the Adina project throughout its 21-year life of mine⁵.

The scoping study assumed a production target of 35.8Mt, compared to the global Mineral Resource Estimate (MRE) of 61.4Mt at 1.14% Li₂O in the Indicated category and 16.5Mt at 1.19% Li₂O in the Inferred category, reported at a 0.40% Li₂O cut-off grade⁶. The existing MRE remains open at depth and along strike and excludes known pegmatite bodies along strike that could contribute to further MRE upgrades.

The table below provides a sensitivity of expected royalty cash flows to LRC on an annual basis at various spodumene prices based on the projected 282ktpa of production disclosed in the scoping study⁷.

LRC Royalty Sensitivity

Qualified Persons

The technical and scientific information contained in this news release was reviewed and approved in accordance with NI 43-101 by Don Hains, P.Geo. of the Hains Engineering Company Limited, a “qualified person” as defined in NI 43-101.

About Lithium Royalty Corp.

LRC is a lithium-focused royalty company organized in Canada, which has established a globally diversified portfolio of 37 royalties on mineral properties that are related to the electrification and decarbonization of the global economy. The Company’s royalty portfolio is focused on the battery supply chain for the transportation and energy storage industries and is underpinned by mineral properties that produce or are expected to produce lithium, critical minerals, and other energy transition materials.

Forward Looking Statements

This press release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian securities laws, which may include, but are not limited to, statements with respect to future events or future performance, management’s expectations regarding LRC’s growth, results of operations, estimated future revenues, performance guidance, carrying value of assets and requirements for additional capital, mineral resource and mineral reserve estimates, production estimates, production costs and revenue, future demand for and prices of commodities, expected mining sequences, business prospects and opportunities, the performance and plans of third-party operators and the expected exposure for current and future assessments and available remedies. In addition, statements relating to resources and reserves and mine life are forward-looking statements, as they involve implied assessment, based on certain estimates and assumptions, and no assurance can be given that the estimates and assumptions are accurate and that such resources and reserves or mine life will be realized. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budgets”, “potential for”, “scheduled”, “estimates”, “forecasts”, “predicts”, “projects”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of LRC to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking information is based on management’s beliefs and assumptions and on information currently available to management. The forward-looking statements herein are made as of the date of this press release only and LRC does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law.

A number of factors could cause actual events or results to differ materially from any forward-looking statement, including, without limitation: fluctuations in the prices of the primary commodities that drive royalty revenue (including various lithium and cesium products); fluctuations in the value of the Canadian and Australian dollar and any other currency in which revenue is generated, relative to the U.S. dollar; changes in national and local government legislation, including permitting and licensing regimes and taxation policies and the enforcement thereof; the adoption of a global minimum tax on corporations; regulatory, political or economic developments in any of the countries where properties in which LRC holds a royalty or other interest are located or through which they are held; risks related to the operators of the properties in which LRC holds a royalty or other interest, including changes in the ownership and control of such operators; relinquishment or sale of mineral properties; influence of macroeconomic developments; business opportunities that become available to, or are pursued by LRC; reduced access to debt and equity capital; litigation; title, permit or license disputes related to interests on any of the properties in which LRC holds a royalty or other interest; whether or not the Company is determined to have “passive foreign investment company” (“PFIC”) status as defined in Section 1297 of the United States Internal Revenue Code of 1986, as amended; excessive cost escalation as well as development, permitting, infrastructure, operating or technical difficulties on any of the properties in which LRC holds a royalty or other interest; actual mineral content may differ from the resources and reserves contained in technical reports; rate and timing of production differences from resource estimates, other technical reports and mine plans; risks associated with the solvency of operators of projects that LRC has royalties over; risks and hazards associated with the business of development and mining on any of the properties in which LRC holds a royalty or other interest, including, but not limited to unusual or unexpected geological and metallurgical conditions, slope failures or cave-ins, sinkholes, flooding and other natural disasters, terrorism, civil unrest or an outbreak of contagious disease; and the integration of acquired assets. The forward-looking statements contained in this press release are based upon assumptions management believes to be reasonable, including, without limitation: the ongoing operation of the properties in which LRC holds a royalty or other interest by the owners or operators of such properties in a manner consistent with past practice; the accuracy of public statements and disclosures made by the owners or operators of such underlying properties; no material adverse change in the market price of the commodities (including various lithium and cesium products) that underlie the asset portfolio; the Company’s ongoing income and assets relating to determination of its PFIC status; no material changes to existing tax treatment; the expected application of tax laws and regulations by taxation authorities; no adverse development in respect of any significant property in which LRC holds a royalty or other interest; the solvency of project operators; the accuracy of publicly disclosed expectations for the development of underlying properties that are not yet in production; integration of acquired assets; and the absence of any other factors that could cause actions, events or results to differ from those anticipated, estimated or intended. However, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Investors are cautioned that forward-looking statements are not guarantees of future performance. LRC cannot assure investors that actual results will be consistent with these forward-looking statements. Accordingly, investors should not place undue reliance on forward-looking statements due to the inherent uncertainty therein.

For additional information with respect to risks, uncertainties and assumptions, please refer to LRC’s most recent Annual Information Form dated March 19, 2025 and filed with the Canadian securities regulatory authorities on www.sedarplus.ca. These risks and uncertainties include, but are not limited to, those described under “Risk Factors” in the Annual Information Form, and in particular risks summarized under the “Risks Related to Mining Operations” heading.

View source version on businesswire.com: https://www.businesswire.com/news/home/20251215340539/en/

Contact Information for Inquiries:
Jonida Zaganjori
Investor Relations
(647) 792-1100
jonida@lithiumroyaltycorp.com

Source: Lithium Royalty Corp.