Evolve Royalties Provides Update on Highland Valley Copper Mine Royalty

(All
amounts
in Canadian dollars
unless
otherwise noted)

VANCOUVER, British Columbia, Oct. 22, 2026 (GLOBE NEWSWIRE) — Evolve Royalties Ltd. (“Evolve” or the “Company”) (CSE: EVR; OTCQX: EVRYF) announced that Teck Resources Limited (“Teck”) had reported, on October 21, 2026, that strike notice has been received in respect of the Highland Valley Copper Mine (“HVC Mine”) operations, entitling union workers to begin strike action starting on October 24, 2026. Teck has further indicated that operations at the HVC Mine continue and that contingency plans are in place to maintain safety and environmental management during labour action, and that it is committed to reaching a collective agreement with the union workers.

Evolve owns a 0.51% interest in net profits on the HVC Mine. The Company is closely monitoring developments and will provide further updates as deemed appropriate or as required under Canadian securities laws.

CONTACT
INFORMATION

For more information about Evolve, please visit www.evolveroyalties.com or contact us:

Joseph de la Plante, President & CEO
jdelaplante@evolveroyalties.com
+1 514 546 1070

ABOUT EVOLVE

Evolve Royalties Ltd. is a copper-focused royalty company engaged in the acquisition and management of high-quality royalty, stream and other similar interests in base and critical metals that sustain both traditional and modern economic activity. The Company’s strategy is to build a diversified portfolio of long-life cash-flowing royalties while maintaining exposure to long-term commodity upside. The Company’s common shares are listed and posted for trading on the Canadian Securities Exchange under the symbol “CSE: EVR” and on the OTCQX Best Market under the symbol “OTCQX: EVRYF”. For more information, please visit: www.evolveroyalties.com or the Company’s profile on SEDAR+ at www.sedarplus.ca.

Evolve Royalties Ltd.
550 Burrard Street, Suite 2900
Vancouver, British Columbia V6C 0A3 
www.evolveroyalties.com

FORWARD-LOOKING
STATEMENTS

This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable securities laws, which may include, but are not limited to, statements regarding a potential strike or other labour action at the HVC Mine, as well as other statements with respect to future events or future performance. All statements in this news release, other than statements of historical fact, that address events or developments that Evolve expects to occur, are forward-looking statements. Forward-looking statements are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential”, “scheduled” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Certain forward-looking statements may also constitute “financial outlook” within the meaning of applicable securities laws.

Forward-looking statements, including financial outlook, are based on Evolve’s assumptions and information available as of the date of this news release. Although Evolve believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements.

Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: labour disruptions may occur at the HVC Mine (and the timing, nature and scope of such disruptions), operations at the HVC Mine may be suspended or otherwise adversely affected, Teck may not be able to successfully negotiate a collective agreement, Teck may not be able to successfully implement its contingency plans, the labour disruptions may have an impact on royalty payments owed to Evolve in respect of the HVC Mine, and other risks and uncertainties, including those discussed in the section entitled “Risk Factors” of the Company’s management’s discussion and analysis for the year ended December 31, 2025 as well as other materials available on the Company’s profile on SEDAR+ at www.sedarplus.ca.

Forward-looking statements and financial outlook in this news release are qualified by the foregoing cautionary statements and are made only as of the date hereof. Evolve expressly disclaims any obligation to update or revise any forward-looking statements or financial outlook or the assumptions or factors underlying them, whether as a result of new information, future events or otherwise, other than as required by applicable law. Readers are cautioned not to place undue reliance on forward-looking statements and financial outlook.

The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.