The Albany Gazette - Chancery Royalty Secures US$20 Million Royalty with KEFI Gold & Copper Plc for Tulu Kapi Gold Project

HAMILTON, BM / ACCESS Newswire / February 25, 2026 / Chancery Royalty Ltd. ("Chancery" or the "Company") is pleased to announce the completion of a US$20m royalty deal with KEFI Gold and Copper plc ("KEFI"), providing financing for the Tulu Kapi gold mine. Their project is now fully funded and remains on track for commissioning in early 2028, with annual gold production targeted to exceed 160,000 ounces per year.

Chancery Royalty Founder and Managing Director, Jeremy Gray, commented:
"Chancery Royalty is focused on partnering with groups that boast world class gold projects, and KEFI's Tulu Kapi development stands out as one of the most compelling undeveloped gold mining assets in Africa. With more exciting transactions in the pipeline, and our ability to move quickly, Chancery could soon be the largest gold royalty group in the mid-tier."

The royalty deal with KEFI follows the launch of Chancery Royalty in November 2025 as a new precious metals royalty company. Chancery is supported by a near-term royalty-based production outlook of approximately 4,000 gold-equivalent ounces (GEOs) in 2026 and a growth pipeline targeting more than 28,000 GEOs per annum by 2029. This trajectory positions Chancery as a significant emerging entrant in the royalty sector at a time of increasing consolidation and growing institutional interest from large players such as Tether.

Portfolio & Growth Outlook

Chancery's initial royalty portfolio includes one producing silver royalty at Gold Road in Arizona, two near-term gold royalties at Laiva Gold in Finland and Pilar Gold in Brazil, and now the world class Tulu Kapi gold mine in Ethiopia. These assets provide near-term cash flow visibility and support a clear path to multi-year growth.

The Company has recently launched a Series A - Strategic Expansion Financing at US$3.00 per share. At this price, the implied pre-money valuation equates to approximately 0.3x Price to NAV, which is below the typical 1.0x-1.5x range at which publicly listed junior and mid-tier royalty companies currently trade.

About Chancery Royalty Ltd.

Chancery Royalty Ltd. is a precious metals royalty company based in Hamilton, Bermuda, with a portfolio of gold and silver royalty interests in established mining jurisdictions, including exposure to development-stage projects.

The Company is advancing its strategy and is targeting a public listing in the first half of 2026.

About KEFI Gold and Copper plc

KEFI is an AIM-listed exploration and development company. Its flagship asset, the Tulu Kapi Gold Project in Ethiopia, has secured a comprehensive US$340 million project financing package through its subsidiary, Tulu Kapi Gold Mines S.C., including Chancery's US$20 million 4.8% royalty. KEFI has mobilized field teams and contractors and is advancing toward implementation and construction.

KEFI Gold and Copper Founder and Executive Chairman, Harry Anagnostaras-Adams, commented:
"It is an exciting time to launch Tulu Kapi, one of Africa's highest margin new gold mine developments. Already bank-backed, Tulu Kapi has been engineered both physically and financially to be robust for the long-term - it is designed to pay all costs and service all debt at an all-in-breakeven-gold price of US$1,400/oz.
At US$3,000-5,000/oz gold, average EBITDA for the first 3 years is estimated at US$345 million to US$683 million per annum, both of which significantly exceed KEFI's current market capitalization."

For more information on Chancery Royalty, please visit the link here.

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Contact:

Edward Balme | IR Manager
[email protected]
+44 7514 584 610

SOURCE: Chancery Royalty Ltd.

View the original press release on ACCESS Newswire

(K.Lee--TAG)