Gold Royalty Corp. (NYSE American: GROY) is pleased to announce that it has entered into an agreement to acquire a portfolio of 22 royalties located in Québec from SOQUEM, a subsidiary of Investissement Québec, for C$1 million in common shares of the Company.

David Garofalo, Chairman and CEO of Gold Royalty, commented, “We are excited to further expand our royalty position in Québec, one of the best mining jurisdictions in the world, to now over 90 royalties by acquiring a highly prospective royalty portfolio from SOQUEM. The Portfolio covers over 65,000 hectares and is primarily focused on gold properties. Several of the properties are being advanced by leading mining companies such as Osisko Mining, IAMGOLD, and Probe Gold. Furthermore, we look forward to welcoming Investissement Québec as a strategic shareholder and look forward to exploring further opportunities for growth in the province.”

Acquisition Highlights and Overview

• 22 royalties on exploration and resource stage projects in Québec, as well as the right for Gold Royalty to receive a milestone payment of C$1 million once Probe Gold’s Detour project publishes a positive preliminary economic assessment mine study.
• Payment to SOQUEM of C$1 million, satisfied in common shares of the Company based on the 20-day volume weighted average price of such shares prior to closing.
• SOQUEM will be entitled to 50% of any buyback proceeds received from the Portfolio in the future. Total potential buyback and milestone proceeds associated with the Portfolio of C$18.2M
• Predominantly precious metals focused portfolio, with some diversified and base metals royalties.
• Royalty coverage of approximately 65,000 hectares along prolific and established mining districts.
• Gold Royalty will hold over 240 royalties, including 94 royalties in Québec, upon closing of the transaction.

Table 1. SOQUEM Royalty Portfolio

Closing of the transaction is subject to customary conditions, including the waiver or expiry of applicable third party rights, and is expected to occur prior to the end of the current quarter.

About Gold Royalty Corp.

Gold Royalty Corp. is a gold-focused royalty company offering creative financing solutions to the metals and mining industry. Its mission is to acquire royalties, streams and similar interests at varying stages of the mine life cycle to build a balanced portfolio offering near, medium and longer-term attractive returns for its investors. Gold Royalty’s diversified portfolio currently consists primarily of net smelter return royalties on gold properties located in the Americas.

About SOQUEM

SOQUEM is a leader in Québec’s mineral exploration industry. As a subsidiary of Investissement Québec, its mission is to promote the exploration, discovery, and development of the province’s mineral resources.