Elysee Provides Corporate Update for the First Quarter of 2021

Vancouver, April 6, 2021 - Elysee Development Corp. (TSXV: ELC) is pleased to provide an update of its recent investment activities.

Guido Cloetens, the Chairman and CEO of Elysee, stated: "Despite unfavorable conditions for our core investments (precious metals miners) I am very pleased that we were able to realize yet another positive result in Q1 2021. In the second half of 2020 we reduced our exposure to precious metals and focused more on industrial metals. This strategy has paid off. On March 31, we had approximately $4 million in cash after paying out a dividend of 3 cents per share earlier in the month."

During the first three months of 2021 gold experienced its worst quarterly performance since Q4 of 2016. The gold price declined by almost $200 per ounce (-10%) during the first quarter of 2021. As a result, the Global Junior Gold Miners index (GDXJ) was down almost 17% in Q1 2021. This decline also impacted Elysee's portfolio.

The unrealized loss on the gold miners was more than offset, however, by the strong performance of our non-precious metal investments and the cash offers made for two gold miners we have in our portfolio.

During the first three months of 2021, Elysee continued to realize profits from a number of its marketable securities. These include:

- Nextsource Materials Inc. which announced a financing by Sir Mick Davis, former CEO of Xstrata plc and a former top executive at BHP Billiton. After the announcement the stock rose from less than $0.10 per share at the start of the year to over $0.50 per share in February. We sold shares and exercised our warrants, realizing a very significant gain during the quarter while still holding a meaningful position. Nextsource is in the process of building a graphite mine in Madagascar.

- Battle North Gold Corporation, one of our largest holdings, received a cash offer of $2.65 per share from Evolution Mining. Our average cost is approximately $1.20 per share.

- Gold miner TMAC Resources Inc. was acquired by Agnico Eagle Mines for $2.20 per share, a 66% premium compared to the price before the announcement.

- Oroco Resources Corp., another one of our largest positions, continued its strong performance in Q1 2021. We exercised some of our warrants and realized significant profits by selling a portion of the shares we own.

- We also took advantage of the brief "silver squeeze" in early February 2021 to lock in profits on some of the silver companies Elysee owns, including Reyna Silver Corp., Alexco Resource Corp., Aftermath Silver Ltd., Southern Silver Corp. and others.

- SPC Nickel Corp. started trading in March 2021 at a significant premium to our cost of $0.20 per share.

- In the first quarter some of our other non-precious metal investments performed very well, including Niocorp, Canada Nickel, Aurora Solar Technologies, Electric Royalties Ltd. and Lightwave Logic Inc.

In March 2021, Elysee participated in a significant capital raise by US Vanadium LLC ("USV"), our largest private equity investment. The new capital will allow USV to optimize and expand its operations. USV is anticipating increased demand and higher prices for vanadium and vanadium pentoxide. In addition, on March 16, 2021 USV announced that it had successfully recycled liquid electrolyte from Vanadium Redox Flow Batteries ("VRFB") at a 97% recovery rate. To access the news release, click here.

Other significant investments in Q1 were:

- Investment of $250,000 in subscription receipts of Green Impact Operating Corp. The company is focused on clean, renewable energy and is developing a hydrogen project in the province of Alberta. The company raised $100 million and is planning to list on the TSX-V shortly.

- Anticipated investment of $200,000 in subscription receipts of Next Hydrogen. The company raised $50 million in the latest capital round and is in the process of going public by way of an RTO. For more information visit https://nexthydrogen.com/

- Investment of $270,000 in Wildpack Beverage Alberta Inc. The company fills, decorates and brokers aluminum cans for middle market beverage cans. The industry expects a shortage of aluminum cans for the next few years. Wildpack is anticipating the shortage by raising capital to significantly expand their production capacity. The company expects to be listed in the second quarter of 2021.

Elysee expects to publish its full financial results for the three months ended March 31 2021 by the first week of May, 2021. For more information on the Company, and an updated corporate presentation, please visit our web site at www.elyseedevelopment.com.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Stuart Rogers
President
Elysee Development Corp.
Tel: (778) 373-1562

Guido Cloetens
Chairman and CEO
info@elyseedevelopment.com
Tel: (778)-985-8011

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

Caution Regarding Forward-Looking Statements - This news release contains certain forward-looking statements that are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements, oral or written, made by itself or on its behalf, except as required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/79437