Ely Gold Closes Purchase Of Tonapah Patented Claims

VANCOUVER, BC - Ely Gold Royalties Inc. and its wholly owned subsidiary, Nevada Select Royalty, Inc have completed the purchase of seventy-three (73) patented mining claims from Cliff ZZ L.L.C., a Nevada limited liability company (the "Tonopah Extension Claims").

The Tonopah Extension Claims are located in Esmeralda and Nye Counties, Nevada and are contiguous to Nevada Select's current holdings at their Tonopah West Property that now includes 96 patented mining claims and 17 unpatented mining claims. The consolidated Tonopah West land package has been sold under a four-year option agreement to Blackrock Gold Corp, announced on February 25, 2020, (the "Blackrock Agreement"). The closing of the Blackrock Agreement was contingent on the closing of the Cliff ZZ Agreement. Both transactions closed on April 2, 2020.

Trey Wasser, President and CEO said, "This transaction continues to support our business model of consolidating under-explored districts while generating royalty interests. We consider Tonopah to be one of the best districts in Nevada based on past production and exploration potential."