Sailfish Royalty: Provides Update to Previously Announced Swordfish Silver Deal

Sea Meadow House, PO Box 116

Road Town, Tortola British Virgin Islands, VG1110

Tel: (284) 494-6401

www.sailfishroyalty.com TSX-V: FISH | OTCQX: SROYF

Sailfish Provides Update on Previously Announced Swordfish Silver Transaction

Tortola, British Virgin Islands, April 6, 2022 – Sailfish Royalty Corp. (TSX-V: FISH, OTCQX: SROYF) (the “Company” or “Sailing ship“) is pleased to announce that, further to the Company’s press release dated October 7, 2021, Sailfish is continuing its discussions with 1287398 BC Ltd. (“Pubco” or “Silver Swordfish“) to complete the previously announced transaction with Pubco (the “Proposed transaction“) for the purpose of establishing a silver-focused exploration and development company pursuant to the terms of a binding letter of intent (the “Letter of Intent“) with Pubco. The proposed transaction is expected to result in the transfer of the Company’s 100% owned Gavilanes silver property located in Durango, Mexico (the “Gavilanes Silver Project“) to Pubco in exchange for shares of Pubco (the “Acquisition of GavilanesPubco has also signed a binding letter of intent with certain funds managed by Wexford Capital LP to acquire ownership of Commonwealth Silver and Gold in Cochise County, Arizona (the “Commonwealth Silver-Gold Project“). Closing of the Gavilanes Acquisition is subject to, among other things, Pubco’s acquisition of the Commonwealth Silver-Gold Project in exchange for shares of Pubco, a concurrent private placement financing for proceeds of $5,000,000 US$ (the “Private placement“), and receipt of conditional acceptance from the TSX Venture Exchange (the “TSXV“) to list the common shares of Pubco on the TSX Venture Exchange.

Paolo Lostritto, Vice President of Corporate Development at Sailfish, says “Investor and corporate appetite for money has improved significantly over the past six months. At the same time, project work Gavilanes Silver and the Commonwealth Silver-Gold Project Continue to Show Signs At the Gavilanes Silver Project, surface geochemical surveys combined with trenching and follow-up sampling have identified several new veins that have not yet been drilled, which confirms the idea that there is significant exploration potential to extend the mineralization at Gavilanes.1 At the Commonwealth Silver-Gold Project, additional geophysical work is underway to refine and prioritize untested low sulphidation epithermal targets that have remained untested due to thin colluvial cover. The Commonwealth Silver-Gold Project currently targets a shallow open pit.2 Once listed, Swordfish Silver plans to quickly focus on expanding the inventory of precious metal resources at both projects. »

For further information regarding the Proposed Transaction and the Private Placement, please refer to the Company’s press release dated October 7, 2021.

About the sailboat

Sailfish is a precious metals streaming and royalty company. Sailfish’s portfolio includes two main assets in the Americas: a gold flow equivalent to a 3% NSR on the San Albino gold mine (~3.5 km²) and a 2% NSR on the rest of the area (~134.5 km²) surrounding San Albino in northern Nicaragua; and up to 3% NSR on the multi-million ounce Spring Valley gold project in Pershing County, Nevada.

Sailfish is listed on the TSX Venture Exchange under the symbol “FISH” and on the OTCQX under the symbol “SROYF”. Please visit the Company’s website at www.sailfishroyalty.com for more information.

For more information: Cesar Gonzalez, CEO, tel. 203-862-7007 or Akiba Leisman, Executive Chairman, tel. 917-558-5289.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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US Securities Law Notes:

This press release does not constitute an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an available exemption from the registration requirements of the U.S. Securities Act of 1933, as amended (the “U.S. Securities Law“) and applicable U.S. state securities laws. Pubco will not make any public offering of securities in the United States. The Securities have not been and will not be registered under U.S. securities law. movables.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, and there will be no sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Cautionary notes regarding the proposed transaction:

Completion of the proposed transaction is subject to a number of conditions, including, but not limited to, entering into a definitive agreement, Pubco’s acquisition of the Commonwealth Silver-Gold Project, completion of the private placement , closing conditions customary to transactions of the nature of the proposed transaction, approvals from all regulatory agencies having jurisdiction in connection with the proposed transaction, acceptance by the TSXV of the divestment of the Gavilanes silver project by Sailfish and Pubco’s listing, court approval of the plan of arrangement and, if applicable, shareholder approval.

Investors are cautioned that, except as otherwise set forth in the registration statement to be prepared in connection with Pubco’s proposed listing, any information published or received regarding the proposed transaction may not be accurate or complete and should not be relied upon . The Exchange has in no way passed on the merits of the proposed transaction and has neither approved nor disapproved of the contents of this press release.

Cautionary Notes Regarding Forward-Looking Statements:

This release contains certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this press release, other than statements of historical fact, are forward-looking statements, including statements regarding the steps contemplated by the letter of intent, the completion of the private placement, the company’s views regarding exploration potential of Gavilanes, Swordfish’s intention to focus on rapidly expanding the inventory of precious metal resources at Gavilanes and Commonwealth upon closing of the proposed transaction, and listing of Pubco on the TSXV . Forward-looking statements are based on certain material assumptions and analyzes made by the Company and on the opinions and estimates of management as of the date of this press release, including that the transactions contemplated by the letter of intent will be completed, that the proposed transaction (including the private placement) will ultimately close and the shares of Pubco will be listed on the TSX Venture Exchange. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or information. Important factors that could cause actual results to vary include, but are not limited to, capital market conditions for the private placement, the receipt of TSXV and other regulatory approvals to complete the proposed transaction, a satisfactory due diligence performed by the parties and the satisfaction of other conditions for the completion of the proposed transaction. Although the Company’s management has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking statements or information, there may be other factors that cause the results are not those anticipated, estimated or intended. . There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on this information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statements, forward-looking information or financial outlook which are incorporated by reference herein, except in accordance with applicable securities laws.

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