Lithium Royalty Corp. announced that it has entered into an agreement to acquire a pre-existing 1.0% Net Smelter Return (NSR) royalty on the Mia lithium property in Québec, Canada (the ?Mia Lithium Project?). The project is 100%-owned by Second Quarter Metals Corp.

LRC is acquiring the royalty from the seller in consideration for issuing 76,000 common shares of LIRC. The Mia Lithium Project has had confirmed spodumene bearing outcrops since 1957. Since Second Quarter Metals agreed to acquire the project in November 2022, Second Quarter has conducted several works programs that mapped 192 individual pegmatite outcrops along the exploration trend.

Second Quarter has identified a total of 9 separate spodumene pegmatite zones within the Mia exploration trend which currently stands at 9.7 km, one of the longest trends in the world for lithium-bearing pegmatites. Second Quarter has collected 219 rock samples since re-mobilization in August, which are being analyzed via SGS Canada. The company has commenced its inaugural drill program, with two active drill rigs on site focused on drilling the confirmed spodumene pegmatite outcrops, presenting the potential for additional news flow and greater understanding of the property in the near future.

Sampling work conducted on the property has returned lithium oxide values of 2.73%, 2.05%, 2.01%, and 1.57%. The Second Quarter Metals team has assembled a leading set of individuals with a strong pedigree in the lithium sector, particularly in the Québec spodumene industry. Mr. Neil McCallum is a professional geologist with over 18 years of experience in North America.

He is a Director and Vice President of Exploration at Second Quarter Metals. Mr. McCallum identified and staked the Corvette property in 2016 for 92 Resources (a predecessor to Patriot Battery Metals). He also holds experience as a Principal Geologist for Dahrouge Consulting, which is one of the leading mining and mineral exploration groups in Canada having advised MetalsTech (the predecessor to Winsome Resources) on the Cancet and Adina lithium projects, as well as other leading properties.

The property is situated approximately 10 km from the year-round Chemin de Wemindji highway, and approximately 35 km from the Billy-Diamond highway. Alongside the highway, there are power lines linked into the extensive hydropower production of over 8.7 gigawatts (GW) of capacity generated by the four stations within the La Grande complex.