TSXV: NOVR
  OTCQB: NOVRF

(All dollar amounts are in United States Dollars unless otherwise indicated)

Nova Royalty Corp. (" Nova " or the " Company ") (TSXV: NOVR) (OTCQB: NOVRF) is pleased to announce that, further to its news release dated August 16, 2021 it has completed its acquisition (the " Transaction ") from Macocozac, S.A. de C.V. of an existing 1.0% net smelter return royalty (the " Royalty ") on the Aranzazu copper-gold-silver mine in Zacatecas, Mexico (" Aranzazu "), which is 100% owned by Aura Minerals Inc. (TSX: ORA) (" Aura ").

The aggregate purchase price for the Transaction included $8.0 million in cash and $1.0 million in common shares of Nova (" Consideration Shares "), of which Nova issued 388,093 Consideration Shares at $3.26 per Consideration Share (calculated based on the ten day volume weighted average trading price of the common shares of Nova up to August 26, 2021 ). The Company intends to file a prospectus supplement to its base shelf prospectus dated October 30, 2020 to qualify the distribution of the Consideration Shares to the Seller. Other terms of the Transaction were as disclosed in Nova's news release dated August 16, 2021 .

Nova has agreed to ‎pay finder's fees to Antares Capital Management, an arm's length person, totaling US$180,000 based on a combination of cash and 35,218 common shares of Nova at closing (calculated based on the five day volume weighted average trading ‎‎price of common shares of Nova at closing), subject to TSX Venture Exchange acceptance.

Financial Results for the Six Months Ended June 30, 2021

Nova has reported its financial results for the second quarter ended June 30, 2021 . Copies of Nova's interim financial statements and management's discussion and analysis for the six months ended June 30 , 2021  are available on Nova's website at www.novaroyalty.com and on SEDAR at www.sedar.com .

Corporate Update

Nova has granted ‎2,630,000 stock options to certain officers, directors, employees and consultants to purchase ‎2,630,000 common shares pursuant to the Company's Amended and Restated Share Compensation Plan. Each option grant vests in two equal installments, twelve and twenty-four months from the date of issue. Each option is exercisable, once vested, for a period of five years from the date of grant at an exercise price of C$3.30 per common share.

Further to the Company's news release dated June 18, 2021 announcing the acquisition of a 1.0% net proceeds royalty payable on the West Wall ‎copper-gold-molybdenum project in Chile , Nova will pay a finder's fee to TDM, LLC, an arm's length person, totaling to 30,748 common shares of the Company.

About Nova

Nova is a royalty company focused on providing investors with exposure to the key building blocks of clean energy – copper and nickel. The Company is headquartered in Vancouver, British Columbia and is listed on the TSXV under the trading symbol "NOVR" and on the US OTCQB under the ticker "NOVRF".

ON BEHALF OF Nova Royalty CORP.,
(signed) "Alex Tsukernik"

President and Chief Executive Officer
Phone: (604) 696-4241
Email: info@novaroyalty.com
Website: www.novaroyalty.com

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

TECHNICAL AND THIRD-PARTY INFORMATION

Except where otherwise stated, the disclosure in this press release relating to the Aranzazu mine is based on information publicly disclosed by Aura, as the owner and operator of the property and information/data available in the public domain as at the date hereof and none of this information has been independently verified by Nova. Specifically, as a royalty holder, Nova has limited, if any, access to the property subject to the Royalty. Although Nova does not have any knowledge that such information may not be accurate, there can be no assurance that such third party information is complete or accurate. Some information publicly reported by the operator may relate to a larger property than the area covered by the Royalty. Nova's royalty interests often cover less than 100% and sometimes only a portion of the publicly reported mineral reserves, mineral resources and production of a property.

Cautionary Note Regarding Forward-Looking Statements

This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information in this press release includes, but is not limited to, exploration and expansion potential, production, recoveries and other anticipated or possible future developments on the Aranzazu mine, current commodity prices, the payment frequency of the under the Royalty, the acceptance by the TSXV of the Transaction, current and potential future estimates of mineral reserves and resources; future commercial production from the Aranzazu mine or other designated areas; and the attainment of any required regulatory approval to the acquisitions of the Royalty. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Nova to control or predict, that may cause Nova's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, but not limited to, the risk factors set out under the heading "Risk Factors" in the Company's annual information form dated April 30, 2021 available for review on the Company's profile at   www.sedar.com   . Such forward-looking information represents management's best judgment based on information currently available. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

SOURCE Nova Royalty Corp.

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