America Is Quietly Rebuilding Its Industrial Base. One Royalty Company Just Bought a Front-Row Seat

Why The Metals Royalty Company Inc. (NASDAQ:TMCR) and Its 2.0% Royalty on TMC the metals company’s NORI Project Are Worth a Closer Look Right Now

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Most investors haven’t heard of TMC the metals company Inc. (NASDAQ:TMC) yet. It doesn’t look like a traditional mining company.

There’s no pit. There’s no tunnel. There’s no blasting.

What TMC does is collect potato-sized rocks called polymetallic nodules from the deep ocean floor in the Pacific. Inside each one: nickel, copper, cobalt, and manganese.

Those are the same four metals that go into EV batteries, semiconductors, grid storage, and F-35 fighter jets. The same metals the United States currently imports most of its supply for.

MarketBeat recently wrote that TMC “deserves a spot on the watchlist” for investors paying attention to where critical mineral capital is starting to flow.¹ We agree.

There is another way to play the same story, and it’s the one we want to explain in this article.

The Metals Royalty Company Inc. (NASDAQ:TMCR) holds a 2.0% gross overriding royalty on every metal and mineral TMC produces and sells from its NORI areas.² No mine to build. No ongoing capital commitments. No direct inflation risk.

Just a contractual right to a percentage of the top line, for the life of the project. And two weeks ago, TMCR (NASDAQ:TMCR) did something that changed the conversation around it.

It bought a second royalty.

"I think we’re living through the exact same moment as the shale revolution but in metals and mining. I’ve never seen capital flows like this."

— Brian Paes-Braga, Chairman & CEO, The Metals Royalty Company3

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TMCR 1

A Royalty Company Doesn’t Sound Exciting. The Math Is What’s Interesting.

Royalty companies don’t operate mines. They don’t build them either.

They provide upfront capital in exchange for the right to receive a percentage of revenue, often for the life of the asset. The operator absorbs construction risk, operating cost inflation, and the capital intensity.

The royalty holder collects on top. That structure has quietly produced some of the best long-term compounders in the resource sector.

Franco-Nevada paid about $2 million for a single gold royalty in 1986. That one royalty eventually generated over $1 billion in revenue, and Franco-Nevada is now worth more than $50 billion.⁴

Wheaton Precious Metals and Royal Gold built similar empires on the same idea. Over the past decade, the major royalty and streaming companies have delivered cumulative returns above 600%, while trading at roughly 2x price-to-NAV versus around 1x for diversified miners.

The model is proven. The premium is durable.

What’s interesting is that the model has yet to be applied to critical minerals at scale. Franco-Nevada, Wheaton, and Royal Gold built their businesses almost entirely on precious metals.

The Metals Royalty Company Inc. (NASDAQ:TMCR) is the first attempt to do for nickel, copper, cobalt, manganese, and iron ore what those companies did for gold and silver.

Breaking News

The Metals Royalty Company Inc. Closes Mesabi Royalty Acquisition, Exercises Option to Acquire an Additional 1% Royalty Interest and Appoints Michael Hess as Non-Executive Co-Chairman

The Defining Acquisition: TMCR Buys Its Way Into Minnesota

On June 1, 2026, TMCR (NASDAQ:TMCR) announced closing of a 25% interest in an existing 4.0% Index-Priced Gross Overriding Production Royalty with a revenue floor on the Mesabi Metallics iron ore project in Nashwauk, Minnesota.⁵

Total price: $132.5 million, comprising $125 million in cash and $7.5 million in TMCR common shares. The economic effect is a 1.0% royalty on production up to 8.5 million tonnes per year, plus 0.25% on production above that level.

The royalty is indexed to the Platts Direct Reduction Pellet 67.5% Fe FOB Brazil price, with an embedded $150-per-tonne revenue floor. That structure provides downside protection while preserving full exposure to iron ore price appreciation above the floor.

The counterparties were Ironclad Royalties LLC and Mesabi Investments (USA) LLC. The transaction was financed through an $80.1 million PIPE priced at $13.00 per share plus a net $43.0 million senior secured acquisition credit facility with a $7.0 million delayed draw accessible when the company completes the acquisition of the additional 1.0% royalty.

The PIPE included a $17.0 million presidents list. When the people who built a company are writing checks alongside outside investors at the same price, that’s a signal worth noting.

Mesabi Metallics, Nashwauk, Minnesota: the first new mine and pellet plant on Minnesota’s Iron Range in nearly 50 years. Source: TMCR Mesabi Transaction Presentation, May 2026

"The acquisition of a royalty interest on the Mesabi Metallics project represents a defining milestone for TMCR and the direct expression of our mission to finance America’s mineral security."

— Brian Paes-Braga, Chairman & CEO, The Metals Royalty Company6

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He went on to describe Mesabi as “one of the most strategically significant industrial projects currently under development in the United States.”

Here’s Why That Mesabi Royalty Matters

Mesabi Metallics is the first new mine and pellet plant on Minnesota’s Iron Range in nearly 50 years.

When ramp up is complete, it’s expected to produce up to 8.5 million tonnes of DR-grade iron ore pellets annually. DR-grade pellets aren’t ordinary iron ore.

They’re the specific feedstock required for Electric Arc Furnace steelmaking, which is the lowest-emissions way to make steel. There’s a limited number of ore bodies on the planet that can produce DR-grade pellets economically.

Mesabi will be one of the only large-scale merchant suppliers of DR-grade pellets in the United States.

The project is further along than most investors may realize. Essar Group has already invested over $2 billion of equity, and approximately 800 construction workers are on site right now.⁷

In April 2026, Mesabi secured an additional $150 million in financing from Macquarie Group, on top of a previously announced $520 million senior secured credit facility with Breakwall Capital.⁸ The project is targeting commissioning of operations in H2 2026, subject to construction completion and applicable approvals.

Layered on top of all that private capital is a strong Washington signal. The US Export-Import Bank has publicly announced support of up to $10 billion for the project as part of nearly $30 billion in Indo-Pacific financing aimed at strengthening American supply chain security.⁹

First production at that timeline implies anticipated annual royalty cash flow potential for TMCR of up to roughly $13 million from Mesabi alone.¹⁰

The Metals Royalty Company Inc. (NASDAQ:TMCR) concurrently exercised an option that could double its Mesabi Project royalty interest from 1.0% to 2.0%. If completed before July 31, 2026, the acquisition would also double anticipated annual royalty cash flow, giving the company even greater leverage to future production at the project. Management intends to seek funding to complete the transaction, subject to the amended royalty purchase agreement.

Why are investors looking at The Metals Royalty Company?

America is in the early innings of potentially the most consequential industrial mobilization since World War II. The critical minerals that power its defense, energy, and technology sectors are largely controlled by strategic adversaries. Washington is now making critical mineral security a national priority and The Metals Royalty Company was built for this exact moment. It holds the only publicly traded royalty interest in what may be one of the world’s largest undeveloped polymetallic resources.

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8 Reasons

The Metals Royalty Company Deserves a Spot on Your Radar Right Now

Two Royalties, Not One. The Metals Royalty Company Inc. (NASDAQ:TMCR) holds a 2.0% royalty on TMC’s NORI deposit and a 1.0% index-priced royalty on Mesabi Metallics.

A Revenue Floor on the Potential Near-Term Royalty. The Mesabi royalty has an embedded $150-per-tonne floor tied to the Platts DR Pellet 67.5% Fe FOB Brazil price. That gives TMCR structural downside protection without giving up upside if iron ore prices rise.

Zero Capex. Zero Opex. Zero Inflation Exposure. Royalty holders don’t pay for construction overruns. They don’t pay for fuel cost increases. The Metals Royalty Company Inc. (NASDAQ:TMCR) has the upside profile of an operator without the cost profile.

A Tight Cap Table. Approximately 61% of shares are held by founders, management, the Hess family, and TMC itself, with significant insiders participation in the recent PIPE at $13.00.

A Business Model With Decades of Track Record. According to S&P Capital IQ and Bloomberg, the major royalty and streaming companies have compounded above 600% over the past decade, trading at roughly 2x P/NAV versus about 1x for miners. TMCR (NASDAQ:TMCR) applies that model to critical minerals, where the established royalty majors are not yet entrenched.

The Clearest US Permitting Pathway NORI Has Ever Had. On May 1, 2026, NOAA issued a full compliance determination on TMC USA’s consolidated deep-seabed mining application under DSHMRA, advancing it into the certification stage of the NOAA review process. On TMC’s May 14, 2026 corporate update, management reiterated that a commercial recovery permit is expected before the end of Q1 2027, with system commissioning targeted for Q4 2027.¹¹

Multiple Catalysts in Sequence. Mesabi commissioning targeted H2 2026. NORI permit targeted Q1 2027. TMC system commissioning targeted Q4 2027. Three different milestones, three different potential value creation events, all sitting ahead of The Metals Royalty Company Inc. (NASDAQ:TMCR).

The Platform Mandate. Mesabi was the first major acquisition since listing. It is not intended to be the last. TMCR’s mandate is to build a portfolio of royalties across the full critical minerals value chain.

Press Releases

What TMC Has Beneath the Ocean

TMC’s NORI concession sits in the Clarion-Clipperton Zone, a stretch of Pacific seabed between Hawaii and Mexico.¹²

Inside those nodules: nickel, copper, cobalt, and manganese, in concentrations that rarely occur together anywhere on land. That combination of scale and grade is what makes the deposit unusual.

In August 2025, TMC published two SK-1300 technical economic studies on its NORI and TOML areas.

The combined estimated net present value came in at $23.6 billion: a $5.5 billion Pre-Feasibility Study on the NORI-D area and an $18.1 billion Initial Assessment of the remaining resource in the NORI and TOML areas outside of NORI-D.¹³ The Initial Assessment related to exploration areas which we have no interest in.

Mining.com has ranked NORI among the largest potentially undeveloped nickel-equivalent resources on the planet.¹⁴ That entire resource sits underneath a 2.0% gross overriding royalty held by The Metals Royalty Company Inc. (NASDAQ:TMCR).¹⁵

NORI Royalty: regulatory milestones to a Q1 2027 permit decision, with indicative steady-state royalty revenue scenarios. Source: TMCR Mesabi Transaction Presentation, May 2026

TMC has spent more than a decade and significant capital advancing this project from concept toward commercial-readiness. The track record includes 23 offshore research campaigns, a successful 2022 collection test that lifted more than 3,000 tonnes of nodules from the seafloor, and a signed commercial production agreement with Allseas, the offshore construction company that built and will operate the production vessel Hidden Gem.

Glencore has signed an offtake agreement covering 50% of NORI nickel and copper production from a TMC-owned or controlled facility. Capital and counterparties of that caliber don’t commit to speculation.

"The window for TMCR is open because the need is urgent and the structural alternative does not yet exist at scale. Over the next decade, our intent is to deploy several billion dollars of permanent capital into U.S.-aligned critical minerals royalty and streaming opportunities, partnering with the operators, governments, and policymakers building the next generation of strategic supply."

— Brian Paes-Braga, Chairman & CEO, The Metals Royalty Company16

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The Korea Zinc Piece

Here’s where the story gets more interesting. We believe producing critical metals is only half the supply chain problem.

The other half is refining them. China currently dominates global refining capacity for the nickel, cobalt, and manganese¹⁷ that the NORI nodules contain.

Without a Western refining partner, a successfully mined nodule still flows into a Chinese-controlled value chain at the next step. That’s the structural problem that critical mineral policy has been trying to solve for the better part of a decade.

In June 2025, TMC announced an $85.2 million strategic equity investment from Korea Zinc, one of the world’s largest non-ferrous metal refiners.¹⁸ Korea Zinc’s R&D team has received a bulk sample of nodule material and is validating processing and refining pathways.

Here’s what TMC’s CEO, Gerard Barron, said about that partnership at the time: “Korea Zinc is probably the only company outside of China that has the capability to take TMC USA’s materials and turn them into metal product formats required in the United States. Together, we have the potential to meet the United States’ demand for refined nickel, cobalt and manganese, and contribute copper while completely by-passing the Chinese supply chain.” – Gerard Barron, Chairman & CEO, TMC the metals company¹⁹

Korea Zinc isn’t just an investor. It’s the refining counterpart that potentially makes NORI a fully Western critical mineral pipeline from collection to refined product. The company has also expressed interest in helping TMC establish processing capacity inside the United States.

And The Metals Royalty Company Inc. (NASDAQ:TMCR) doesn’t have to pay for any of that work. The royalty is calculated on top-line value at the point of sale, regardless of who refines what or where.

Allseas, the Hidden Gem, and Q4 2027

The other major piece of the TMC story is the offshore production side. That’s where Allseas comes in.

Allseas is one of the largest offshore construction companies in the world. In 2022, it ran a successful pilot test for TMC that lifted more than 3,000 tonnes of nodules from the seafloor.

TMC and Allseas have since signed a formal agreement for Allseas to complete and operate the first commercial nodule collection system. Under that agreement, Allseas funds a meaningful portion of pre-production development costs, with TMC repaying out of future production revenue.

That structure is unusual, and it matters. It means TMC doesn’t have to front the full capital cost of the collection system upfront.

The system is designed to collect 3 million wet tonnes of nodules per year. It includes two collector vehicles, a riser system, and the production vessel Hidden Gem.

Engineering for the key long-lead components (riser, umbilical, launch and recovery systems) is already complete. Procurement and subcontracting are scheduled to start in Q3 2026, with fabrication running through Q3 2027 and system commissioning targeted for Q4 2027.²⁰

Allseas is also TMC’s second-largest shareholder. The financial alignment between the operator, the offshore production partner, and the royalty holder is unique.

The Washington Tailwind

In April 2025, President Trump signed an executive order titled Unleashing America’s Offshore Critical Minerals and Resources, directing federal agencies to accelerate development of offshore critical mineral resources, expand ocean mapping, and strengthen domestic processing capacity.²¹

NOAA responded by accelerating its permitting timeline under the Deep Seabed Hard Mineral Resources Act of 1980. That gave TMC USA a domestic permitting pathway that doesn’t depend on the United Nations’ International Seabed Authority process.

The broader pattern is hard to miss. The Pentagon took a $400 million direct equity stake in MP Materials, becoming the largest shareholder in the only operational rare earth mine in the US.²²

The US government took a 5% stake in Lithium Americas’ joint venture with General Motors.²³ JPMorgan Chase committed $1.5 trillion to a multi-year Security and Resiliency Initiative aimed at financing industries critical to national economic security.²⁴

Capital is moving toward American mineral security at a pace that hasn’t been seen in decades. The Metals Royalty Company Inc. (NASDAQ:TMCR) is positioned as one of the cleanest public-market expressions of that shift.

Every dollar Washington and private capital direct toward NORI and Mesabi increases the underlying value of TMCR’s royalties without TMCR any additional investment by TMCR.

The Team and the Relationships That Make It Matter

The royalty model is a proven business. But the quality of any royalty company comes down to the people who identify assets, structure agreements, and deploy capital.

At The Metals Royalty Company Inc. (NASDAQ:TMCR), three names matter most.

Brian Paes-BragaChairman & CEO

Brian Paes-Braga founded Lithium X Energy in 2015 and sold it for C$265 million in an all-cash transaction two and a half years later. He has led over $5 billion in transactions across resource companies since.
He was a board member of DeepGreen Metals, now TMC the metals company (NASDAQ:TMC), from its earliest days. He didn’t arrive at the NORI story. He helped build the foundation for it.

Gerard BarronDirector (Non-Executive)

Barron is the Co-Founder, Chairman, and CEO of TMC the metals company Inc. (NASDAQ:TMC), the operator of the NORI project. He has been leading TMC since 2017.
His presence on TMCR’s board is structurally meaningful. The person responsible for driving TMC toward production also has a direct stake in the royalty that pays when it gets there.

Michael HessStrategic Advisor

Hess is the Chief Investment Officer of Hess Capital, the public and private investment arm of the Hess family. He brings over 15 years of energy infrastructure investing experience starting at Goldman Sachs and KKR, where he worked in the energy groups before co-founding the Bison Companies.
The Hess name opens conversations in Washington, on Wall Street, and across the industrial base in a way that few Co-Chairman can match. For TMCR (NASDAQ:TMCR), his role isn’t ceremonial.

Who Holds Two-Thirds of the Company and Why It Matters

The people above aren’t advisors at arm’s length. They have put capital, reputation, and career behind The Metals Royalty Company Inc. (NASDAQ:TMCR).

The Hess family holds a cornerstone position. They understand commodity cycles and what it takes to build and hold long-duration resource assets.

TMC the metals company (NASDAQ:TMC) holds a ~23% strategic stake in the royalty on its own flagship project. TMC’s commercial interest is in reaching production efficiently, and its financial interest in the royalty means every step forward increases the value of its own position.

The result is a capitalization structure unlike almost anything else in the newly listed small-cap space.

TMCR 2

The strategic and insider group aren’t speculators chasing a headline. These are founders, one of America’s great industrial families, and the NASDAQ-listed operator of the underlying asset.

The insiders are committed. The operator of the cornerstone asset is a significant shareholder. In a newly listed company sitting at the intersection of two of the most strategically important critical mineral projects in the United States, that combination is rare.

The Catalyst Stack

The next 18 months for The Metals Royalty Company Inc. (NASDAQ:TMCR) have a defined sequence of milestones.

H2 2026: Mesabi Metallics targets commissioning of operations, which would convert TMCR (NASDAQ:TMCR) into a royalty company with first cash flow.

Q1 2027: TMC expects a NOAA commercial recovery permit decision. Every regulatory step between now and then narrows risk on the NORI royalty.

Q4 2027: TMC targets commissioning of the Hidden Gem nodule collection system with Allseas, converting permit to potential first production.

Ongoing: Additional royalty acquisitions. Mesabi was the first major deal since the NASDAQ listing. TMCR’s (NASDAQ:TMCR) mandate is to keep deploying capital across the critical minerals value chain.

The Bottom Line

The Metals Royalty Company Inc. (NASDAQ:TMCR) is a financing platform that holds royalty interests in two strategically significant US critical mineral projects: TMC’s NORI deposit in the Clarion-Clipperton Zone, and Mesabi Metallics in Minnesota.

One offers long-dated optionality on what may be one of the largest undeveloped polymetallic resources on the planet. The other offers near-term cash flow potential targeted to start in H2 2026.

The structure is clean: tight cap table, roughly 61% strategic and insider ownership. The business model has compounded capital for decades in precious metals, and TMCR (NASDAQ:TMCR) is the first company applying it at scale to the resource category that Washington has now designated a national priority.

Korea Zinc gives the value chain a Western refining endpoint. Allseas gives it offshore production capability. Glencore gives it offtake. Essar gives it Minnesota.

And The Metals Royalty Company Inc. (NASDAQ:TMCR) sits above all of it, collecting a contractual percentage of revenue without additional investment.

Want to stay ahead of every The Metals Royalty Company Inc. (NASDAQ:TMCR) development as Mesabi commissions and the NORI permit decision approaches?

Subscribe to the Trading Whisperer Newsletter to review the corporate presentationand track every milestone as TMCR (NASDAQ:TMCR) builds out its critical minerals royalty platform.

Why are investors looking at The Metals Royalty Company?

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footnotes:
[1] https://www.marketbeat.com/originals/tmc-stock-why-this-pre-revenue-miner-is-worth-watching/ [2] https://www.themetalsroyaltyco.com/nori [3] https://www.youtube.com/watch?v=3TcMBrOgzbg [4] https://s201.q4cdn.com/345177888/files/doc_presentations/2026/Feb/09/Franco-Nevada-Corporate-Presentation-February-2026.pdf [5] https://www.accessnewswire.com/newsroom/en/metals-and-mining/the-metals-royalty-company-inc.-enters-into-definitive-agreement-to-acquire-a-roy-1164166 [6] https://www.morningstar.com/news/accesswire/1164166msn/the-metals-royalty-company-inc-enters-into-definitive-agreement-to-acquire-a-royalty-interest-on-mesabi-metallics-iron-ore-project-in-minnesota [7] https://www.prnewswire.com/news-releases/mesabi-metallics-secures-150-million-from-macquarie-group-302734696.html [8] https://www.prnewswire.com/news-releases/mesabi-metallics-secures-150-million-from-macquarie-group-302734696.html [9] https://www.exim.gov/news/exim-powers-americas-energy-dominance-agenda-unlocking-nearly-30-billion-indo-pacific [10] https://www.morningstar.com/news/accesswire/1164166msn/the-metals-royalty-company-inc-enters-into-definitive-agreement-to-acquire-a-royalty-interest-on-mesabi-metallics-iron-ore-project-in-minnesota [11] https://investors.metals.co/news-releases/news-release-details/tmc-provides-first-quarter-2026-corporate-update/ [12] https://www.marketbeat.com/originals/tmc-stock-why-this-pre-revenue-miner-is-worth-watching/ [13] https://investors.metals.co/news-releases/news-release-details/tmc-releases-two-economic-studies-combined-npv-236b-and-declares [14] https://www.mining.com/featured-article/ranked-worlds-biggest-nickel-projects/ [15] Royalty subject to buyback of 1.5% with contracted IRR's reflective of project risk. See The Metals Royalty Company Inc., Form F-1 Registration Statement filed with the U.S. Securities and Exchange Commission. [16] https://www.youtube.com/watch?v=3TcMBrOgzbg [17] https://www.dailysignal.com/2026/04/07/how-china-dominates-the-worlds-critical-minerals-production/ [18] https://investors.metals.co/news-releases/news-release-details/tmc-announces-strategic-investment-korea-zinc-world-leader-nonhttps://investors.metals.co/news-releases/news-release-details/tmc-announces-strategic-investment-korea-zinc-world-leader-non [19] https://investors.metals.co/news-releases/news-release-details/tmc-announces-strategic-investment-korea-zinc-world-leader-non [20]TMC the metals company Inc., "TMC Provides First Quarter 2026 Corporate Update," May 14, 2026. https://investors.metals.co/news-releases/news-release-details/tmc-provides-first-quarter-2026-corporate-update/ [21]The White House, "Unleashing America's Offshore Critical Minerals and Resources," Executive Order, April 24, 2025. https://www.whitehouse.gov/presidential-actions/2025/04/unleashing-americas-offshore-critical-minerals-and-resources/ [22]CNBC, "Pentagon to become largest shareholder in rare earth magnet maker MP Materials," July 10, 2025. https://www.cnbc.com/2025/07/10/pentagon-to-become-largest-shareholder-in-rare-earth-magnet-maker-mp-materials.html [23]Reuters, "US Government to Take 5% Stake in Lithium Americas Joint Venture with General Motors," September 30, 2025. https://www.reuters.com/business/autos-transportation/us-government-take-5-stake-lithium-americas-joint-venture-with-general-motors-2025-09-30/ [24]JPMorgan Chase, "JPMorgan Chase Launches Security and Resiliency Initiative." https://www.jpmorganchase.com/newsroom/press-releases/2025/jpmc-security-resiliency-initiative

Disclosure:

1) The Article was issued on behalf of and sponsored by The Metals Royalty Company Inc. Market Jar Media Inc. has or expects to receive from The Metals Royalty Company Inc.’s Digital Marketing Agency of Record (Native Ads Inc.) up to one hundred two thousand one hundred twenty five US dollars for a duration of up to twelve (12) months or until budget exhaustion as dictated by The Metals Royalty Company Inc.

2) The author of the Article, or members of the author’s immediate household or family, do not own any securities of the other companies set forth in this Article. The author determined which other companies would be included in this article based on research and understanding of the sector.

3) Statements and opinions expressed are the opinions of the author and not Market Jar Media Inc., its directors or officers. The author is wholly responsible for the validity of the statements. The author was not paid by Market Jar Media Inc. for this Article. Market Jar Media Inc. was not paid by the author to publish or syndicate this Article. Market Jar has not independently verified or otherwise investigated all such information. None of Market Jar or any of its respective affiliates, guarantee the accuracy or completeness of any such information.

4) This Article shall not constitute an offer to sell or the solicitation of an offer to buy any securities. The Article does not constitute investment advice. All investments carry risk and each reader is encouraged to consult with his or her individual financial professional. Any action a reader takes as a result of the information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Market Jar Media Inc.'s terms of use on the following sites pressreach, microcapwatch, stockstreetnews, tradingwhisperer, miningnewsdaily, smallcapstocktips, trendingstockalerts and disclaimers as set forth here pressreach, microcapwatch, stockstreetnews, tradingwhisperer, miningnewsdaily, smallcapstocktips, trendingstockalerts. This Article is not a solicitation for investment. Market Jar Media Inc. does not render general or specific investment advice and the information on pressreach.com, microcapwatch.com, stockstreetnews.com, tradingwhisperer.com, miningnewsdaily.com, smallcapstocktips.com, or trendingstockalerts.com should not be considered a recommendation to buy or sell any security. Market Jar Media Inc. does not endorse or recommend the business, products, services or securities of any company mentioned on pressreach.com, microcapwatch.com, stockstreetnews.com, tradingwhisperer.com, miningnewsdaily.com, smallcapstocktips.com, or trendingstockalerts.com.

5) Market Jar Media Inc. and its respective directors, officers and employees hold no shares for any company mentioned in the Article.

6) Readers are directed to read and review The Metals Royalty Company Inc.’s Form F-1 Registration Statement (the “Registration Statement”) filed with the U.S. Securities and Exchange Commission. The foregoing description does not purport to be complete and is qualified in its entirety by reference to the Registration Statement.

7) Completion of the Mesabi royalty acquisition is subject to the satisfaction of customary closing conditions, which may not be satisfied on the terms or timeline currently contemplated, or at all. Operational data regarding the Mesabi project is derived from public disclosures of, and information provided by, Mesabi Metallics, and has not been independently verified.

8) Images included in this Article are reproduced from The Metals Royalty Company Inc.’s May 2026 Mesabi Transaction Presentation and are used here for illustrative purposes. Pro-forma royalty revenue figures are forward-looking estimates based on internal management models and numerous assumptions, including commodity prices, production profiles, capital expenditures, and operating costs. These projections are inherently uncertain and are not guarantees of future performance.

9) This Article contains forward-looking information and forward-looking statements within the meaning of applicable securities legislation, (collectively “forward-looking statements”), which reflect management of The Metals Royalty Company Inc. (“TMCR)’s expectations regarding its future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. In certain instances, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to TMCR’s royalty interests; (b) market opportunity; (c) TMCR’s business plans and strategies; (d) TMCR’s milestone projections and targets; (e) TMCR’s expectations regarding receipt of approval for regulatory applications; (f) TMCR’s intentions to expand its royalty profile, including closing of the additional 1% royalty interest in the Mesabi Project; (g) anticipated royalty cash flow potential from the Mesabi Royalty and the NORI Royalty; and (h) TMCR’s expectations with regarding its ability to deliver shareholder value.

Forward-looking statements are not a guarantee of future performance and are based on a number of estimates and assumptions of management, in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances as of the date of this Article, including, without limitation, assumptions regarding: (a) the sources and timing of potential revenue from the NORI Royalty and the Mesabi Royalty, as well as the timing and amount of estimated future production related to the NORI Property and the Mesabi Metallics project; (b) the timing of TMC the metals company's (“TMC”) commercial recovery permit application review by NOAA under DSHMRA, and other assumptions regarding permitting timelines; (c) the timing of construction completion and commissioning of operations at Mesabi Metallics; (d) the supply and demand for nickel, cobalt, copper, manganese and iron ore; (e) the future prices of such commodities; (f) government regulation of mineral extraction and changes in mining laws and regulations; (g) TMCR’s ability to acquire additional royalty, stream or similar interests in seafloor or other areas under U.S. or U.S.-aligned jurisdictions; (h) TMCR’s ability to capitalize on market opportunities; (i) TMCR’s ability to raise financing in the future, the nature of any such financing and TMCR’S plans with respect thereto; (j) TMCR’s business and future activities; (k) the effect of changes to existing or new legislation, policy or government regulation; (l) TMCR’s goals, strategies and future growth; (m) expectations regarding the performance of the NORI Royalty and the Mesabi Royalty; (n) demand for critical minerals used in EVs, renewable energy storage and industrial applications, which is uncertain; (o) TMCR’s ability to retain key management personnel; (p) statements relating to TMCR’s strategic and insider ownership; (q) the activities proposed to be conducted by TMC or its affiliates; (r) assumptions as to environmental, permitting and social risks; and (s) other assumptions described in this Article underlying or relating to any forward-looking statements.

Forward-looking statements involve known and unknown risks, as well as uncertainties. These risks may cause TMCR’s actual results, performance or achievements to differ materially from those contemplated, expressed or implied by the forward-looking statements. While TMCR believes that its expectations and estimates reflected in these forward-looking statements are reasonable, there is no guarantee that they will prove to be accurate. A number of factors could cause actual events or results to differ materially from any forward-looking statement, including, without limitation: (a) TMCR is subject to many of the risks faced by TMC and the operators of the Mesabi Metallics project and our future revenues will be significantly affected by adverse developments related to the NORI Property or the Mesabi Metallics project; (b) TMCR does not conduct exploration, development or production efforts and depends on third-party operators for the success of exploration, development or production efforts on projects it acquires royalties on; (c) TMC may not receive the permits and licenses necessary to conduct operations at the NORI Property, which would adversely affect TMCR’s expectation of future revenue; (d) the Mesabi Metallics project may not achieve commissioning on the anticipated timeline; (e) TMCR has a limited operating history and thus is subject to risks associated with new business development and there is limited basis on which to evaluate TMCR’s ability to achieve its business objectives; (f) TMCR may not achieve or maintain profitability and positive cash flow; (g) TMCR’s royalty interests are not on producing properties and these and any future royalty, streaming or similar interests TMCR acquires, particularly on development stage properties, are subject to the risk that they may never achieve production; (h) TMCR’s NORI Royalty is subject to buy-back rights that could adversely affect the revenues generated from the asset portfolio; (i) problems concerning the existence, validity, enforceability, terms or geographic extent of TMCR’s royalty interests could adversely affect TMCR’s business and revenues, and TMCR’s interests may similarly be materially and adversely impacted by a change of control, bankruptcy or the insolvency of operators over which it hold royalties; (j) operators may interpret TMCR’s existing or future royalty or other interests in a manner adverse to TMCR or otherwise may not abide by their contractual obligations; (k) TMCR does not currently generate revenue and will need to raise additional capital to fund operations; (l) TMCR is dependent on favorable government policy for offshore mineral development; (m) the prevailing market price of and demand for nickel, manganese, copper, cobalt, iron ore and other commodities may have an adverse impact on the value of TMCR’s royalty interests; (n) TMCR’s stock price may be volatile and could decline significantly and rapidly; (o) an active, liquid, and orderly market for TMCR’s common shares may not develop or be sustained; and (p) TMCR’s future growth is to a large extent dependent on TMCR’s ability to acquire additional royalties, streams or similar interests in the future. Additional risks, beyond those summarized below or discussed elsewhere in this Article, may apply to TMCR’s business activities. For additional information with respect to risks, uncertainties and assumptions, see TMCR’s Registration Statement.

TMCR cannot assure readers that actual results will be consistent with the forward-looking statements made in this Article and there can be no assurance that such statements will prove to be correct. Accordingly, readers should not place undue reliance on forward-looking statements due to the inherent uncertainties therein.

10) Investing is risky. The information provided in this article should not be considered a substitute for professional financial consultation. Investing in any form carries inherent risks, and there is a possibility of losing some or all of an investment. Individuals are strongly encouraged to conduct thorough research, seek professional advice, and carefully evaluate their risk tolerance before engaging in any investment endeavors. Market Jar Media Inc. is neither an investment adviser nor a broker-dealer. The information presented on the website is provided for informative purposes only and is not to be treated as a recommendation to make any specific investment. No such information on pressreach.com, microcapwatch.com, stockstreetnews.com, tradingwhisperer.com, miningnewsdaily.com, smallcapstocktips.com, or trendingstockalerts.com constitutes advice or a recommendation.

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