Ely Gold Royalties Announces Closing Of Trenton Canyon Royalty Interest

VANCOUVER -  Ely Gold Royalties Inc. through its wholly owned subsidiary, Nevada Select Royalty, Inc. has signed a definitive agreement to purchase from a private individual a 0.3% gross royalty, representing the Seller's 50% interest in a total 0.6% gross royalty. The terms provided in the definitive agreements have been amended from the terms the Company announced prior. The Amended Transaction is subject to the final approval of the Toronto Venture Exchange.

Trey Wasser, President and CEO, said, "We are pleased to announce the terms of the Amended Transaction. This assignment of the 2005 Agreement will allow us the time and avenues to receive a fully deeded interest in the Trenton Canyon Royalty rather than a payment interest subject to expenses and deductions by NMP II. The 2005 Agreement is a very clear and straightforward document. We are confident in our position as an assignee, and we believe NMP II will ultimately understand our position and provide the deeded 0.3% gross royalty."