Star Royalties Ltd. — Capital/Financing Update 2021

Mar 29, 2021

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Ontario Commission des 22nd Floor 22e étage Securities valeurs mobilières 20 Queen Street West 20, rue Queen ouest Commission de l’Ontario Toronto ON M5H 3S8 Toronto ON M5H 3S8

RECEIPT

Star Royalties Ltd.

This is the receipt of the Ontario Securities Commission for the Preliminary Base Shelf Prospectus of the above Issuer dated March 26, 2021 (the preliminary prospectus).

The preliminary prospectus has been filed under Multilateral Instrument 11-102 Passport System in Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Nunavut, Prince Edward Island, Quebec, Saskatchewan and Yukon . A receipt for the preliminary prospectus is deemed to be issued by the regulator in each of those jurisdictions, if the conditions of the Instrument have been satisfied.

March 29, 2021

Sonny Randhawa

Sonny Randhawa Director, Corporate Finance Branch

SEDAR Project # 3193990