Thacker Pass Royalty Update

Ontario Court Dismisses LRC Action Against Trident

Trident Royalties Plc (AIM:TRR, FSX:5KV), the growth-focused mining royalty and streaming company, is pleased to announce that a judge of the Ontario Superior Court of Justice granted a motion to stay a lawsuit brought against Trident by Lithium Royalty Corporation (“LRC”), effectively dismissing the litigation as against Trident.

On or about February 11, 2021, LRC brought an application against Orion Resource Partners (“Orion”) in Ontario, Canada, alleging that there was an oral agreement that gave rise to a binding agreement of purchase and sale of the Thacker Pass Royalty now owned, as to a 60% interest, by Trident and seeking an order for specific performance in respect of that alleged agreement. As reported by Trident at the time of its acquisition of its interest in the royalty, Trident anticipated that LRC might seek to join Trident as a party to the existing litigation as a matter of process, in light of the remedy being sought and on 30 April announced that, as anticipated, the third-party claimant had named Trident as a party to the litigation.

The order by the Ontario Supreme Court of Justice found, inter alia, that no action of Trident resulted in it acceding to the jurisdiction of the Ontario Supreme Court and there were no other reasons to compel it to participate in the litigation between LRC and Orion in Ontario.

The decision may be appealed by LRC within a period of 30 days, commencing 23 November 2021. Further announcements will be made in connection with the ongoing litigation between LRC and Orion as appropriate.

CEO Adam Davidson recently provided an update of the business and its strategy below