VMET

All amounts are in U.S. dollars unless otherwise indicated. Vancouver, British Columbia--(Newsfile Corp. - May 14, 2026) - Versamet Royalties Corporation (NASDAQ: VMET) (TSX: VMET) ("Versamet" or the "Company") announces another consecutive quarter of record operating and financial results for the quarter ended March 31, 2026. Q1 2026 Financial Highlights Record revenue of $24.0 million, an increase of 594% over Q1 2025. Record attributable gold equivalent ounces1 ("GEOs") of 4,913, an increase of 306% over Q1 2025. Record operating cash flow before working capital changes2 of $19.5 million, an increase of 1,282% over Q1 2025. Net income of $13.8 million, an increase of 671% over Q1 2025. Record adjusted EBITDA3 of $18.5 million, an increase of 1,142% over Q1 2025. Q1 2026 Corporate Highlights Completed a C$142 million equity financing, adding several new institutional and retail shareholders. Completed a C$22 million private placement with Tether Investments S.A. de C.V. ("Tether"), and separately welcomed Gold Mountains Asset Management Limited, a subsidiary of Zijin Mining Group Co., Ltd., as a new shareholder of the Company. Common shares commenced trading on the NASDAQ exchange in the United States. Welcomed Juan Presa to the Board of Directors, joining as a representative of Tether. Post-Quarter End Highlights Acquired a 3.52% life-of-mine gold stream on the Eskay Creek project in British Columbia, Canada. Eskay Creek is in construction and expected to begin production in Q2 2027. Once in production, the project is expected to produce over 300,000 ounces of gold per year for the first 5 years of operation. Dan O'Flaherty, CEO of Versamet, commented, "Versamet's portfolio continues to deliver record results with substantial increases to revenue, GEOs, and cash flow, compared to Q1 2025. We remain on track to achieve our 2026 production guidance of 20,000 to 23,000 GEOs for 2026, supported by several near-term catalysts that are expected to drive stronger GEO contributions in the second half of the year. "During Q1, we also advanced our long-term growth strategy by expanding both our asset base and capital markets presence through the transformative acquisition of the Eskay Creek gold stream and the successful listing of our common shares on the NASDAQ. Since our listing, we have seen a meaningful increase in daily trading liquidity, further enhancing shareholder visibility and market access." Summary of Financial Results All amounts in millions, except GEOs.   For complete details please refer to the unaudited condensed interim Financial Statements and associated Management's Discussion and Analysis for the quarter ended March 31, 2026 and 2025, available on SEDAR+ (sedarplus.ca), on EDGAR (sec.gov/edgar), and on the Company's website (versamet.com). 2026 Outlook The Company continues to expect attributable GEO production to be between 20,000 and 23,000 ounces for 2026, with higher production expected in the second half of the year driven by upcoming catalysts at various assets, including: Toega: First ore delivery to the Sanbrado process plant scheduled for early Q3 2026. Rosh Pinah: RP2.0 expansion project, which will nearly double the mine's processing throughput to 1.3 million tonnes per year, is over 90% complete as of May 2026 and completion is expected by the end of 2026. Kolpa expansion: New crushers and a new ball mill were commissioned in March 2026 and will enable increased throughput of 2,500 tonnes per day ("tpd") in the upcoming quarters. Cuiu Cuiu: Phase 1 gold-in-oxide project remains on schedule with plant commissioning expected in Q3 2026 and commercial production expected in Q4 2026. Asset Updates Greenstone (1.26% Gold Stream) Attributable production from Greenstone totaled 1,050 gold ounces in Q1 2026. Q1 2026 mill throughput averaged 24,544 tpd, with 51% of days exceeding nameplate capacity (27,000 tpd) compared to 36% in Q4 2025. On March 30, 2026, Equinox Gold reported results from an updated technical report for Greenstone that outlined production averaging approximately 320,000 ounces of gold annually over the next 10 years (2026-2036) with opportunity to potentially increase mill throughput toward 30,000 tpd. Versamet is entitled to monthly deliveries equal to the greater of 1.26% of gold production or 350 ounces of gold. 4 Kiaka (2.7% NSR) Kiaka produced 65,704 ounces of gold and sold 61,717 ounces of gold in Q1. West African Resources ("West African") also held 20,045 ounces of unsold gold bullion at the end of the quarter, which Versamet expects to contribute to GEOs in subsequent quarters. Ramp up of the processing plant is complete, with throughput and recoveries exceeding feasibility expectations. Kiaka is expected to produce between 240,000 and 280,000 ounces of gold in 2026. 5 During the quarter, West African released an updated 10-year outlook which outlines average annual production of 277,000 ounces of gold per year from 2026 to 2035, with peak production of 302,000 ounces of gold expected in 2028. A secondary crusher installation is planned for 2028 to increase fresh ore throughput to 12 million tonnes per year. 6 On April 21, 2026, West African released an announcement advising of the publication of a decree by the Government of Burkina Faso to acquire 25% of Kiaka for A$175 million. 7 Versamet's royalty is payable on 100% of the production from Kiaka. Rosh Pinah (90% Silver Stream) The Company sold 73,190 ounces of silver during Q1 from deliveries from Rosh Pinah. Completion of the RP2.0 expansion project, which will nearly double the mine's processing throughput to 1.3 million tonnes per year, is over 90% complete as of May 2026 with completion expected by the end of 2026, with ramp-up commencing shortly thereafter. 8 Kolpa (95.8% Copper Stream) During March 2026, new crushers and a new ball mill were commissioned and will enable throughput of 2,500 tpd in the upcoming quarters. Copper production for 2026 is expected to be between 650 and 750 tonnes. 9 Toega (2.7% NSR) During Q1, construction of mobile maintenance workshop, office and ancillary infrastructure continued to progress on schedule. Haul road construction is nearing completion, with bulk earthworks now complete. Ore delivery to the Sanbrado process plant is scheduled for early Q3 2026. 10 About Versamet Royalties Corporation Versamet is rapidly growing to become a new mid-tier precious metals royalty & streaming company focused on creating long-term per share value for its shareholders through the acquisition of high-quality assets. Versamet's common shares trade on the NASDAQ and Toronto Stock Exchange under the symbol "VMET". For more information about Versamet, including additional details on our royalties and streams, please visit our website at versamet.com. General inquiries:Craig Rollins, General CounselEmail: [email protected]: 778-945-3948 Qualified Person The scientific and technical information contained in this news release has been reviewed and approved by Diego Airo, P.Eng, Executive Vice President, Project Evaluation for Versamet and a member of the Association of Professional Engineers and Geoscientists of the Province of British Columbia. Mr. Airo is a Qualified Person as defined in the National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Cautionary Note Regarding Forward-Looking Information This news release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information in this press release includes, but is not limited to, statements relating to: forecasted production of 20,000 to 23,000 GEOs in 2026; statements regarding production, development or other advancements at the properties in which the Company holds an interest, including with respect to timing thereof; and other statements regarding future plans, expectations, exploration potential, guidance, projections, objectives, estimates and forecasts (in general and in connection with respective asset updates), as well as our expectations with respect to such matters. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Versamet to control or predict, that may cause Versamet's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, but not limited to, the risk factors set out under the heading "Risk Factors" in the Company's Annual Information Form dated March 31, 2026 available for review on the Company's profile at www.sedarplus.ca, as well as the Company's Form 20-F filed with the Securities and Exchange Commission on Aprill 30, 2026, available for review on the Company's profile at www.sec.gov/edgar. Such forward-looking information represents management's best judgment based on information currently available. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. Non-IFRS Financial Measures The Company has included certain performance measures in this press release that do not have any standardized meaning prescribed by International Financial Reporting Standards ("IFRS") including (a) GEOs and total attributable GEOs, (b) average realized price per attributable GEO, and (c) EBITDA and adjusted EBITDA. The Company believes that, in addition to conventional measures prepared in accordance with IFRS, certain investors use this information to evaluate the Company's performance and ability to generate cash flow. Third-Party Information The Company has limited, if any, information on or access to the properties on which it holds a royalty, stream or other interest and has no input into exploration, development or mining plans, decisions or activities on any such properties. The Company is dependent on (i) the operators of the mines or properties and their Qualified Persons to provide technical or other information to the Company, or (ii) publicly available information to prepare disclosure pertaining to properties and operations on the mines or properties on which the Company holds a royalty, stream or other interest, and generally has limited or no ability to independently verify such information. Although the Company does not have any knowledge that such information may not be accurate, there can be no assurance that such third-party information is complete or accurate. Endnotes       To view the source version of this press release, please visit https://www.newsfilecorp.com/release/297557

All amounts are in U.S. dollars unless otherwise indicated. Vancouver, British Columbia--(Newsfile Corp. - March 12, 2026) - Versamet Royalties Corporation (NASDAQ: VMET) (TSX: VMET) ("Versamet" or the "Company") announces another consecutive year of record operating and financial results for the quarter and year ended December 31, 2025, driven by strong operating performance across our asset portfolio, new acquisitions, and strong commodity prices. Q4 2025 Financial Highlights Record revenue of $18.4 million, an increase of 465% over Q4 2024. Record attributable gold equivalent ounces1 ("GEOs") of 4,430, an increase of 260% over Q4 2024. Record operating cash flow before working capital changes2 of $13.9 million, an increase of 1,126% over Q4 2024. Record net income of $15.1 million, an increase of 307% over Q4 2024. Record adjusted EBITDA3 of $13.6 million, an increase of 862% over Q4 2024. Full Year 2025 Financial Highlights Record revenue of $34.8 million, an increase of 189% over 2024. Record attributable GEOs1 of 9,815, an increase of 94% over 2024. Record operating cash flow before working capital changes2 of $24.7 million, an increase of 277% over 2024. Record net income of $20.3 million, an increase of 931% over 2024. Record adjusted EBITDA3 of $23.0 million, an increase of 336% over 2024. 2025 Corporate Highlights Acquired a copper stream on Endeavour Silver's operating Kolpa mine in Peru. Listed on the TSX Venture Exchange and subsequently uplisted to the Toronto Stock Exchange. Acquired a significant silver stream on the operating Rosh Pinah Zinc mine in Namibia and a polymetallic royalty on the operating Santa Rita mine in Brazil, both operated by Appian Capital Advisory Limited ("Appian"). Welcomed Nemesia S.￠.r.l., a private company controlled by the trusts of the Lundin family, and Tether Investments S.A. de C.V. ("Tether"), as new shareholders of the Company. Received inaugural royalty and stream revenues from the Blackwater, Kolpa, Kiaka, Rosh Pinah, and Santa Rita mines. Post Quarter Highlights Completed a C$142 million equity financing, adding several new institutional and retail shareholders. Completed a C$22 million private placement with Tether, and separately welcomed Gold Mountains Asset Management Limited, a subsidiary of Zijin Mining Group Co., Ltd., as a new shareholder of the Company. Fully repaid $80 million on the term loan and repaid $46 million on the revolving credit facility, reducing the amount drawn to $45 million as of March 12, 2026. Increased revolving credit facility capacity to $225 million, including a $25 million accordion option. Common shares commenced trading on the NASDAQ. Dan O'Flaherty, CEO of Versamet, commented, "2025 marked a breakout year for Versamet as we achieved record revenue, GEOs, cash flow, and earnings per share, for the third consecutive year since our inception in 2022. We have continued this momentum into 2026 with further expected growth highlighted by our guidance of 20,000 to 23,000 GEOs for 2026. With our common shares now trading on the NASDAQ, we look forward to increased investor awareness of our company. With the cash from our recently completed financing and upsized credit facility and robust cash flows, we are actively evaluating opportunities to grow our portfolio further in 2026 while maintaining our disciplined approach to deploying capital and creating long-term per share value." Summary of Financial Results All amounts in millions, except GEOs. For complete details please refer to the audited Financial Statements and associated Management's Discussion and Analysis for the years ended December 31, 2025 and 2024, available on SEDAR+ (sedarplus.ca), on EDGAR (sec.gov/edgar), and on the Company's website (versamet.com). Asset Updates Greenstone (1.26% Gold Stream) Attributable production from Greenstone totaled 1,050 GEOs in Q4 2025. Higher mining and milling rates drove a meaningful increase in production to more than 70,000 ounces of gold, up 29% from the prior quarter. Versamet is entitled to monthly deliveries equal to the greater of 1.26% of produced gold or 350 ounces of gold. 4 Kiaka (2.7% NSR) Kiaka produced 62,287 ounces of gold in Q4, its first full quarter of operational phase reporting since completion of construction, sold 56,293 ounces of gold during the quarter, and held 15,468 ounces of unsold gold bullion at the end of the quarter, which Versamet expects to contribute to Q1 2026 GEOs. Open pit mining continued to ramp up well during Q4, delivering a 76% increase in mined ounces compared to Q3. The process plant continued to ramp up on schedule, increasing mill throughput by 25% and grade by 44% over the prior quarter, and achieving 92.9% metallurgical recovery. 5 Rosh Pinah (90% Silver Stream) In Q4, the Company received its inaugural silver delivery from Rosh Pinah. In addition, final settlement of a concentrate shipment in Q3 2025 occurred in early January 2026, which will contribute to Versamet's Q1 2026 GEOs. On February 6, 2026, Appian Capital Advisory provided an update on Rosh Pinah, including the commissioning of the new paste fill plant, a critical component of the RP2.0 expansion project. RP2.0, which will nearly double the mine's processing throughput to 1.3 million tonnes per year, continues to advance on schedule, with overall construction progress now surpassing 85%. Completion is expected in Q3 2026, with ramp-up commencing shortly thereafter. In parallel, an extensive diamond drilling program is underway aimed at expanding its mineral resource base and extending the mine life. The program includes more than 80,000 metres of drilling through 2027, encompassing infill, step-out and regional exploration drilling. Results to date have been encouraging, reinforcing the opportunity for further resource expansion and long-term value creation beyond RP2.0. 6 Kolpa (95.8% Copper Stream) On January 16, 2026, Endeavour Silver Corp. ("Endeavour") provided its guidance for 2026. Plant throughput at Kolpa is forecast to range from 2,300 to 2,500 tonnes per day, and copper production is expected to be between 650 and 750 tonnes. Endeavour is investing $26.5 million on capital projects at Kolpa in 2026, including $2.7 million for 3.5 kilometers of mine development in the Bienaventurada and Poderosa areas. A further $7.1 million will be for mine infrastructure, equipment, and building improvements. Growth expenditures of $16.7 million will support a plant expansion to increase capacity to 2,500 tonnes per day, including ongoing installation of a new ball mill, upgrades to flotation cells and expansion of the tailings storage facility. Management estimates the plant expansion to be completed in Q1 2026. 7 Toega (2.7% NSR) On January 28, 2026, West African Resources provided an update on the Toega deposit. Haul road construction is well advanced and remains on schedule to enable ore delivery to the Sanbrado processing plant in early Q3 2026. Pre-stripping of the open pit commenced during the quarter with material movement expected to ramp up to steady state production by the end of Q1 2026. 8 Blackwater (0.21% NSR) Gold production at Blackwater was 68,480 ounces during Q4 2025 and 192,808 ounces for the full year 2025. During Q4 2025, milling operations continued to perform above the design rate and the company continues to target mill throughput at 10% above design capacity on a sustainable basis in advance of commissioning the Phase 1A expansion. Construction of the Phase 1A expansion continues to advance on schedule and is expected to increase processing capacity to 8 Mtpa by end of Q4 2026. The second phase of the expansion is expected to further increase processing capacity to 21 Mtpa by the end of 2028, which will increase gold production to more than 500,000 ounces per year. 9 Cui Cui (1.5% NSR) On March 5, 2026, Cabral Gold Inc. ("Cabral") provided a construction update on its Phase 1 gold-in-oxide heap leach project at Cui Cui. Construction activity for the Phase 1 gold-in-oxide heap leach construction project is 54% complete, with the project on budget and on schedule for plant commissioning in the third quarter of 2026, followed by commercial production in the fourth quarter of 2026. 10 Mercedes (2% NSR) On February 26, 2026, Highlander Silver Corp. completed the acquisition of Bear Creek Mining Corporation and the Mercedes mine. About Versamet Royalties Corporation Versamet is an emerging mid-tier precious metals royalty & streaming company focused on creating long-term per share value for its shareholders through the acquisition of high-quality assets. Versamet's common shares trade on the NASDAQ and Toronto Stock Exchange under the symbol "VMET". For more information about Versamet, including additional details on our royalties and streams, please visit our website at versamet.com. General inquiries: Craig Rollins, General Counsel Email: [email protected] Telephone: 778-945-3948 Qualified Person The scientific and technical information contained in this news release has been reviewed and approved by Diego Airo, P.Eng, Executive Vice President, Project Evaluation for Versamet and a member of the Association of Professional Engineers and Geoscientists of the Province of British Columbia. Mr. Airo is a Qualified Person as defined in the National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Cautionary Note Regarding Forward-Looking Information This news release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information in this press release includes, but is not limited to, statements relating to: forecasted production of 20,000 to 23,000 GEOs in 2026; and other statements regarding future plans, expectations, exploration potential, guidance, projections, objectives, estimates and forecasts (in general and in connection with respective asset updates), as well as our expectations with respect to such matters. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Versamet to control or predict, that may cause Versamet's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, but not limited to, the risk factors set out under the heading "Risk Factors" in the Company's final non-offering long form prospectus dated May 12, 2025 available for review on the Company's profile at www.sedarplus.ca, as well as the Company's Form 20-F filed with the Securities and Exchange Commission on March 2, 2026, available for review on the Company's profile at www.sec.gov/edgar. Such forward-looking information represents management's best judgment based on information currently available. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. Endnotes To view the source version of this press release, please visit https://www.newsfilecorp.com/release/288345