Tortola, British Virgin Islands, April 6, 2022 – Sailfish Royalty Corp. (TSX-V: FISH, OTCQX: SROYF)
(the “Company” or “Sailfish”) is pleased to announce that, further to the Company’s news release dated
October 7, 2021, Sailfish is continuing to engage in discussions with 1287398 B.C. Ltd. (“Pubco” or
“Swordfish Silver”) to complete the previously announced transaction with Pubco (the “Proposed
Transaction”) with the goal of creating a silver focused exploration and development company pursuant to the terms of a binding letter of intent (the “LOI”) with Pubco. The Proposed Transaction is expected to result in the transfer of the Company’s wholly owned Gavilanes silver property located in Durango, Mexico (the “Gavilanes Silver Project”) to Pubco in exchange for shares of Pubco (the “Gavilanes Acquisition”). Pubco also signed a binding letter of intent with certain funds managed by Wexford Capital LP to acquire the Commonwealth silver and gold property in Cochise County, Arizona (the “Commonwealth Silver-Gold Project”). Closing of the Gavilanes Acquisition is subject to, among other things, Pubco acquiring the Commonwealth Silver-Gold Project in exchange for shares of Pubco, a concurrent private placement financing for proceeds of US$5,000,000 (the “Private Placement”), and receipt of conditional acceptance from the TSX Venture Exchange (the “TSXV”) to have Pubco’s common shares listed on the TSXV.