Santo Domingo Update: Joint Venture Partnership

14 October 2025

Ecora Resources PLC

("Ecora" or the "Group")

Santo Domingo Update: Joint Venture Partnership

Ecora (LSE/TSX: ECOR, OTCQX: ECRAF) a critical minerals focused royalty company, notes the press release issued on 13 October 2025 by Capstone Copper Corp. ("Capstone") announcing that fund entities managed by Orion Resource Partners LP (collectively, "Orion") have agreed to acquire a 25% ownership interest in the Santo Domingo Project ("Santo Domingo") and the Sierra Norte Project for total cash consideration of up to $360 million.

Capstone also stated that it is continuing to advance the remaining workstreams towards a final investment decision on Santo Domingo expected in H2 2026.

Ecora holds a 2.0% Net Smelter Return royalty over certain Santo Domingo project tenements, including the highest copper grade portion of the deposit which is the first area to be mined according to the Updated Santo Domingo Feasibility Study announced in July 2024. Over the first seven years, the Ecora royalty entitlement is expected to generate an average annual royalty entitlement of $30-35 million at planned production rates and spot commodity prices.

The full announcement from Capstone can be viewed here, along with the Santo Domingo Joint Venture Partnership Presentation.  

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About Ecora Resources

Ecora is a leading critical minerals focused royalty company.

Our vision is to be globally recognised as the royalty company of choice synonymous with commodities that support trends of electrification by continuing to grow and diversify our royalty portfolio in line with our strategy. We will achieve this through building a diversified portfolio of scale over high quality assets that drives low volatility earnings growth and shareholder returns. 

The mining sector has an essential role to play in the energy transition, with commodities such as copper, nickel and cobalt - key materials for manufacturing batteries and electric vehicles. Copper also plays a critical role in our electricity grids. All these commodities are mined and there are not enough mines in operation today to supply expected future demand growth.

Our strategy is to acquire royalties and streams over low-cost operations and projects with strong management teams, in well-established mining jurisdictions. Our portfolio has been reweighted to provide material exposure to this commodity basket and we have successfully transitioned from a coal orientated royalty business in 2014 to one that by 2026 will be materially coal free and comprised of over 90% exposure to commodities that support a sustainable future. The fundamental demand outlook for these commodities over the next decade is very strong, which should significantly increase the value of our royalty portfolio.

Ecora's shares are listed on the London and Toronto Stock Exchanges (ECOR) and trade on the OTCQX Best Market (OTCQX: ECRAF).