Star Equity closes restructuring of Copperstone Stream

Star Royalties announced the closing of a previously announced agreement with Sabre Gold Mines Corp. to restructure the Company’s existing gold stream on the fully-permitted Copperstone Gold Mine. As part of the restructuring, the gold stream was revised from 6.6% of gold produced with production-based step-downs to a flat 4% of gold produced for the duration of Copperstone’s life-of-mine (“LOM”) and additional consideration of C$4.55 million paid by Sabre Gold to Star Royalties in a combination of cash and shares. Under the terms of the streaming agreement, Star Royalties will continue to provide a cash payment to Sabre Gold equal to 25% of the spot gold price for each ounce of gold delivered. Alex Pernin, Chief Executive Officer of Star Royalties, commented: “We are pleased to have created an improved structure for our Copperstone gold stream that should provide improved flexibility for Sabre Gold to secure financing and advance Copperstone to production. We continue to believe in the significant exploration and long-term production potential of Copperstone, and the revised streaming agreement provides Star Royalties with increased exposure to both, while converting a portion of its value into immediate and near-term cash and securities.”