Increased Royalty Interest On Copper World Complex

VANCOUVER - Nova Royalty Corp. has entered into an agreement with an arm's length private party pursuant to which Nova will acquire an additional 0.03% net smelter return (NSR) royalty on the Copper World Complex project located in Arizona, owned by Hudbay Minerals Inc.

The Copper World Complex is a large-scale, premier copper development project located in Arizona. Copper World is owned by Hudbay, an established operator with a proven track record of success. Hudbay's 2022 preliminary economic assessment of Copper World contemplates a two-phased operation, with a Phase I standalone operation on private land and patented mining claims expected to span 16-years with average annual copper production of approximately 86,000 tonnes, followed by an expanded Phase II mine life of 44 years on federal lands. Copper World is expected to be one of the next major copper operations in the United States, delivering the copper needed to meet domestic electrification and decarbonization supply chain needs. Hudbay expects to make a potential project sanction decision in 2024, with a three-year build timeline.