Nova Royalty Corp. is pleased to provide an update on its investment in the Vizcachitas project and announced the appointment of Douglas B. Silver as Strategic Advisor to the company. On April 30, 2021, Los Andes Copper Ltd. the 100% owner of the Vizcachitas project ("Vizcachitas") in Chile, announced that it had received unanimous approval from the Regional Environmental Committee (Comision de Evaluacion Ambiental) for drilling to be carried out at Vizcachitas. Once the remaining permits required to commence drilling are received, LAC will be able to undertake the drilling program needed to complete a Pre-Feasibility Study ("PFS") on Vizcachitas. The proposed workplan includes infill drilling within the PFS open pit, drilling to extend the higher-grade mineralization to the north of the Preliminary Economic Assessment pit, and to test the prospective geophysical targets identified in 2020. Subsequently, on May 3, 2021, LAC announced that Queens Road Capital ("Queens Road"), a leading financier to the global resource sector, invested US$5 million in LAC by way of convertible debenture and that Warren Gilman, Chairman and CEO of Queens Road, would join the LAC Board of Directors. Subsequently, the Resolución de Calificación Ambiental ("RCA"), which confirmed the contents of the drilling permit announced on April 30, 2021, was publicly released. Pursuant to Nova's agreement with RCF VI CAD LLC, an affiliate of Resource Capital Funds VI L.P. ("RCF VI"), the Company issued 535,179 shares to RCF VI (reflecting a milestone payment in the amount of US$1,750,000 satisfied in common shares of Nova and priced based on a 30-day volume weighted average trading price up to and including April 29, 2021). The company anticipates making an additional payment of US$1,750,000 in common shares of Nova at the time that the remaining required permits for commencement of drilling are received.