Lithium Royalty Corp Congratulates Li-FT on its Agreement to Acquire Winsome Resources; Solidifies the Adina Project as Major Canadian Lithium Asset

Lithium Royalty Corp Congratulates Li-FT on its Agreement to Acquire Winsome Resources; Solidifies the Adina Project as Major Canadian Lithium Asset

• Winsome Resources estimated US$296 million of undiscounted cashflows to LRC from a 21-year life-of-mine that only includes approximately 46% of current Mineral Resource¹
• Based on SC6 pricing of approximately $1,250 per tonne and Winsome Resources’ production estimates, LRC estimates annual royalty revenue of approximately US$13 million¹
• Li-FT Power Ltd. (Li-FT) announced that it has agreed to acquire 100% of the issued shares in Winsome Resources for A$0.501 per share; a 62% premium to the undisturbed price
• Strategic support announced from Avenir Minerals, the new wholly owned critical minerals focused subsidiary of Agnico Eagle
• Li-FT announced a concurrent private placement of C$40 million primarily to fund exploration and development of the Adina project, with Avenir intending to participate in funding
• LRC holds a 4.0% GOR royalty on the original 57 claims that comprise the Adina project

TORONTO–(BUSINESS WIRE)–Lithium Royalty Corp. (TSX: LIRC) (“LRC”) congratulates Li-FT and Winsome Resources Limited on their proposed combination to consolidate an important lithium project in Québec and Canada². LRC expects that the combination of Li-FT Power and Winsome Resources will accelerate and fast track the Adina project and the neighbouring Galinée property in Québec. Lithium Royalty Corp. owns a 4.0% GOR royalty on the Adina project.

Ernie Ortiz, President and CEO of LRC, said:

LRC extends a sincere congratulations to both Li-FT and Winsome Resources on their agreement to consolidate into a larger organization and fast-track the Adina project to production.

”Avenir’s support to the combined entity is expected to be transformative, accelerating the project’s development and unlocking meaningful royalty cash flows for LRC investors. The operating success, Québec experience, and balance sheet capabilities of Avenir should prove very fruitful for the future of Adina and the value of our royalty on the project,”

Li-FT commented that a rationale for the transaction is to unlock value at the Adina and neighboring Galinée project, with the potential to significantly enhance Adina’s scale and project economics by integrating Galinée and potentially expanding the mineral resource and increasing open-pittable resources.

On October 29, 2025, Agnico Eagle announced that it had established a wholly owned subsidiary, Avenir Minerals, which is dedicated to evaluating and advancing critical mineral opportunities in the regions that Agnico Eagle operates in, with an initial geographic focus on Canada. Li-FT disclosed that the transaction has the support of Avenir and that Avenir intends to participate in the concurrent C$40 million equity financing by Li-FT.

On September 17, 2024, Winsome Resources released a Scoping Study on the Adina project, which outlined compelling economics for the project³. The study highlighted an active production period of 17 years, with annual production of 282,000 tonnes of 5.5% spodumene concentrate (SC5.5) with average lithium oxide grade processed of 1.33% and average lithia recoveries of 68.6%⁴. The scoping study assumed commodity prices of US$1,375/tonne at SC5.5. Winsome estimated all-in sustaining costs (AISC) of US$693/tonne FOB, supporting attractive economics at current commodity prices. The scoping study estimated US$296 million in undiscounted royalty cash flows to LRC from the Adina project throughout its 21-year life of mine⁵.

The scoping study assumed a production target of 35.8Mt, compared to the global Mineral Resource Estimate (MRE) of 61.4Mt at 1.14% Li₂O in the Indicated category and 16.5Mt at 1.19% Li₂O in the Inferred category, reported at a 0.40% Li₂O cut-off grade⁶. The existing MRE remains open at depth and along strike and excludes known pegmatite bodies along strike that could contribute to further MRE upgrades.

The table below provides a sensitivity of expected royalty cash flows to LRC on an annual basis at various spodumene prices based on the projected 282ktpa of production disclosed in the scoping study⁷

Qualified Persons

The technical and scientific information contained in this news release was reviewed and approved in accordance with NI 43-101 by Don Hains, P.Geo. of the Hains Engineering Company Limited, a “qualified person” as defined in NI 43-101.

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Lithium Royalty Corp Congratulates Li-FT on its Agreement to Acquire Winsome Resources; Solidifies the Adina Project as Major Canadian Lithium Asset, source