Developing Royalty Assets
in North America

Ely Gold Announces Grant of Stock Options

November 22, 2017

Vancouver, British Columbia - November 22, 2017- Ely Gold Royalties Inc. ("Ely Gold" or the "Company") (TSX-V: ELY, OTC:ELYGF) announces that, pursuant to its Stock Option Plan, it has granted incentive stock options to certain directors, officers, and consultants of the Company to purchase up to an aggregate of 1,725,000 common shares in the capital stock of the Company. The options are exercisable at a price of $0.10 per common share and will expire on November 22, 2027.

About Ely Gold Royalties

Ely Gold Royalties offers shareholders a low risk leverage to the current price of gold and low-cost access to potential long-term mineral royalties. Ely Gold has built a portfolio of properties that produce recurring cash flow from mineral property options, advanced royalty payments and the potential to generate future operating royalty payments and dividends. Ely Gold's growing royalty portfolio is organically developed from the consolidation, enhancement and resale of highly prospective, unencumbered, precious metals properties located in located in the Western U.S., with a focus on projects in Nevada. The Company's business model includes property acquisition and advancing the potential of each property, employing our extensive database, while retaining royalty interests. The growing portfolio, under this business model, is generating steadily increasing revenue from 17 optioned properties and 20 deeded royalties with future growth expected from over 12 properties currently available for sale or option.

Additional information about Ely Gold is available at the Company's website, at www.elygoldinc.com.

On Behalf of the Board of Directors

Signed “Trey Wasser”

Trey Wasser, President & CEO

For further information, please contact:

Trey Wasser, President & CEO
[email protected]
972-803-3087

Joanne Jobin, Investor Relations Officer
[email protected]
647-964-0292

Neither 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. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.