Star Royalties Ltd. highlighted an announcement Gold Mountain Mining Corp., dated December 7, 2021, regarding updated mineral resources at its Elk Gold Mine ("Elk Gold") in British Columbia, Canada. Measured and Indicated Resources at Elk Gold increased by 24% to 806,000 gold equivalent ("AuEq") ounces in 4,359,000 tonnes at 5.8 g/t AuEq, and Inferred Resources increased by 65% to 262,000 AuEq ounces in 1,497,000 tonnes at 5.4 g/t AuEq, for a total 32% increase in AuEq ounces across all mineral resource categories. Vein models in the Siwash North Zone were incrementally expanded along strike and down dip by 37 new diamond drill holes.

This drilling has connected the Siwash North Zone with the Gold Creek Zone which was historically viewed as a satellite deposit. Elk Gold's multiple zone potential was further demonstrated by 10 diamond drill holes into the Lake and South Zones, which led to a maiden Mineral Resource estimate in these satellite deposits.