
Gold Royalty Corp. (NYSE American: GROY) is pleased to announce that it recently added the 250th asset to its portfolio with the sale of the Spanish Moon Project to Kinross Gold Corporation, retaining a 3% net smelter return royalty. Spanish Moon, an early-stage exploration project, is proximate to Kinross’ Round Mountain Mine in Nevada, USA, a Tier 1 jurisdiction in which Gold Royalty already has a strong concentration of assets.
David Garofalo, Chairman and CEO of Gold Royalty, commented: “The impressive growth that we have achieved, from 18 royalties at our March 2021 IPO to 250 royalties and streams today comes from our four unique pillars of growth, each contributing to our portfolio throughout the company’s history. We have provided royalty or stream financing directly to operators, we have purchased royalty and stream assets through third parties such as mining companies and prospectors, we have acquired established royalty companies including Ely Gold, Golden Valley, and Abitibi Royalties, and our prospecting team generates royalties in-house through our royalty generator model.
Today we want to highlight our royalty generator model, as it has created our milestone 250th asset – at minimal cost to Gold Royalty. Our diversified portfolio provides peer-leading revenue growth, including the expected 367% gold equivalent ounce growth by 2029* and long-dated optionality into the next decade and beyond.”
Gold Royalty’s generator model has generated 51 royalties since the acquisition of Ely Gold Royalties Inc. in 2021. We currently have 36 properties subject to land agreements and six properties under lease generating land agreement proceeds. The model continues to incur low operating costs with minimal expenditure on maintaining the underlying mineral interests in the first half of 2025.
Asset Updates
Gold Royalty is also pleased with recent positive progress from operating companies on assets on which it holds royalties or streams:
* See press release dated March 20, 2025 for further information. Total GEOs are determined by dividing Total Revenue, Land Agreement Proceeds and Interest by average gold prices for the applicable period. Total GEOs and Total Revenue, Land Agreement Proceeds and Interest are Non-IFRS measures, which do not have any standardized meaning prescribed by International Financial Reporting Standards. For further information please see the Company’s Management’s Discussion and Analysis for the three and six months ended June 30, 2025.
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 invest in high-quality, sustainable, and responsible mining operations to build a diversified portfolio of precious metals royalty and streaming interests that generate superior long-term returns for our shareholders. Gold Royalty’s diversified portfolio currently consists primarily of net smelter return royalties on gold properties located in the Americas.
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