Ely Gold Royalties Purchases Railroad-Pinion Royalty

VANCOUVER - Ely Gold Royalties Inc. has reached binding agreements with twelve separate individuals to purchase private mineral interests on over 8,000 acres of private fee ground in Elko County, Nevada. All of the fee ground and the Mineral Interests are currently leased to Gold Standard Ventures Corp (GSV) and cover certain portions of GSV's Railroad-Pinion Project that is currently being developed as a heap-leach mining operation. The Leases provide for a combined 1.15% net smelter returns royalty ("NSR") and annual lease payments of over $150,000. The Mineral Interests and Leases cover large portions of the Dark Star, Pinion and Jasperoid Wash deposits in the South Railroad Complex as well as portions of the POD and Bald Mountain zones in the North Railroad. Eleven of the transactions (the "ORTT Transactions") are expected to close on December 1, 2020. One of Transactions (the "OR Transaction") is subject to the approval of the Toronto Venture Exchange.

Trey Wasser, President & CEO, said, "Ely Gold has successfully consolidated another complex transaction resulting in a meaningful royalty position on one of Nevada's next mine developments. Not only do these Leases cover approximately 35% of the total resources at South Railroad, they also cover most of GSV's 2020 expansion drilling at Dark Star, Pinion and Jasperoid Wash."

The Railroad-Pinion Project is an intermediate to advanced stage gold project with a favorable structural, geological and stratigraphic setting situated at the southeast end of the Carlin Trend of north-central Nevada. The Carlin Trend is a northwest alignment of sedimentary rock-hosted gold deposits with past production exceeding 80,000,000 ounces of gold. Each dome or "window" is cored by igneous intrusions that uplift and expose Paleozoic rocks and certain stratigraphic contacts that are favorable for formation of Carlin-style gold deposits. The Railroad-Pinion Project is centered on the fourth and southernmost dome-shaped window on the Carlin Trend.