# Elemental Royalty Notes 32% Increase in Reserves at Karlawinda with Expansion Commissioning on Track for Q3 2026 Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/elemental-royalty-notes-32-increase-in-reserves-at-karlawinda-with-expansion-com--0c7e6488-5560-447b-ad84-41500c154b31 Original source: https://money.tmx.com/en/quote/ELE/news/6803746942946707/elemental-royalty-notes-32-increase-in-reserves-at-karlawinda-with-expansion-com Publisher: tmx Original announcement: 2026-07-29T21:20:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Elemental Royalty Corporation - Ticker: ELE - Exchange: TSX - Region: Western Australia - Primary commodity: Gold - Secondary commodities: None reported - Document categories: Resource update - Extracted: 2026-08-20 19:21:27 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary Elemental Royalty reports a 32% increase in Probable Mineral Reserves at the Karlawinda Gold Project, now totaling 76.4 million tonnes at 0.6 g/t gold. The update, driven by Capricorn Metals' recent drilling, also includes a 30% increase in Indicated Mineral Resources and supports an extended 10-year mine life. Reasoning: Significant growth in both reserves and resources at a cornerstone royalty asset, supporting long-term revenue visibility. - Positive factor: 32% increase in Probable Mineral Reserves - Positive factor: 30% increase in Indicated Mineral Resource - Positive factor: Mine life extension to approximately 10 years - Positive factor: Expansion commissioning on track for Q3 2026 - Negative factor: Elemental has not independently verified the underlying data Facts used in scoring: 3 ## Classification and evidence **Tonnage Growth** Polarity: positive Definition: Significant tonnage increase \(≥15%\) vs prior estimate with grade maintained or improved. Why it applies: Probable Mineral Reserve increased by 32% and Indicated Resource increased by 30%. Evidence · text > 32% increase in the Probable Mineral Reserve estimate **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: Estimates were prepared in accordance with the 2012 Edition of the JORC Code. Evidence · text > prepared and reported by Capricorn in accordance with the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves \(the "JORC Code"\) **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The update includes a significant portion of Inferred resources \(35.1 Mt\). Evidence · text > 35.1 million tonnes at 0.5 g/t gold, containing 608,000 ounces in the Inferred category ## Extracted facts Stored fact records: 3. Some facts used in scoring do not have a stored record. ## Resource Estimates (3) ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/elemental-royalty-notes-32-increase-in-reserves-at-karlawinda-with-expansion-com--0c7e6488-5560-447b-ad84-41500c154b31#fact-resource-facts-0) gold #### Identity - Commodity: gold - Ticker: ELE #### Resource Data - Category: probable - Tonnes: 76400000 - Grade: 0.6 - Grade Unit: g/t - Contained Metal: 1570000 - Contained Unit: oz #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-07-29T00:00:00.000Z Reasoning: Significant reserve expansion at a key royalty asset. - Positive factor: 32% increase in reserves Evidence · text > 32% increase in the Probable Mineral Reserve estimate to 76.4 million tonnes at 0.6 g/t gold, containing 1.57 million ounces of gold ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/elemental-royalty-notes-32-increase-in-reserves-at-karlawinda-with-expansion-com--0c7e6488-5560-447b-ad84-41500c154b31#fact-resource-facts-1) gold #### Identity - Commodity: gold - Ticker: ELE #### Resource Data - Category: indicated - Tonnes: 124900000 - Grade: 0.6 - Grade Unit: g/t - Contained Metal: 2380000 - Contained Unit: oz #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-07-29T00:00:00.000Z Reasoning: Substantial resource growth in the indicated category. - Positive factor: 30% increase in indicated resource Evidence · text > Karlawinda Indicated Mineral Resource estimate increased by 30% to 124.9 million tonnes at 0.6 g/t gold, containing 2.38 million ounces of gold ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/elemental-royalty-notes-32-increase-in-reserves-at-karlawinda-with-expansion-com--0c7e6488-5560-447b-ad84-41500c154b31#fact-resource-facts-2) gold #### Identity - Commodity: gold - Ticker: ELE #### Resource Data - Category: inferred - Tonnes: 35100000 - Grade: 0.5 - Grade Unit: g/t - Contained Metal: 608000 - Contained Unit: oz #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-07-29T00:00:00.000Z Reasoning: Inferred component of the updated resource estimate. Evidence · text > 35.1 million tonnes at 0.5 g/t gold, containing 608,000 ounces in the Inferred category ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.