Approximate 300% increase in both revenue and Total Revenue, Land Agreement Proceeds and Interest* from the same period of 2023.

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  Côté royalty, acquired in 2022, commences payments in the second quarter of 2024.

Gold Royalty Corp. (NYSE American: GROY) is pleased to announce strong second quarter 2024 revenue and Total Revenue, Land Agreement Proceeds and Interest*, driven by the Company’s cornerstone royalties, recent royalty acquisitions and its unique royalty generator model. All amounts are expressed in U.S. dollars unless otherwise noted.

Preliminary Second Quarter 2024 Revenue

Gold Royalty recorded preliminary second quarter 2024 Total Revenue, Land Agreement Proceeds and Interest* of $2.2 million (Revenue of $1.8 million), representing a 298% increase compared to the same period of 2023 and equating to 947 gold equivalent ounces*. For the six months ended June 30, 2024, the Company recorded preliminary Total Revenue, Land Agreement Proceeds and Interest* of $6.4 million (Revenue of $4.7 million), representing a 153% increase compared to the comparable 2023 period and equating to 2,967 GEOs*.

In the second quarter of 2024, the Company recorded its first royalty payment from IAMGOLD’s Côté Gold Mine and continued to benefit from its existing cash flowing royalties at the Borborema Project and the Canadian Malartic, Cozamin, and Borden Mines. The Company’s royalty generator model added $0.4 million in land agreement proceeds in the quarter.

As previously disclosed, the company expects to see further growth in Revenue in the second half of 2024 with strong commodity prices, the expected ramp up of Côté towards commercial production in the third quarter of 2024, and the commencement of commercial production at the Vares Project in the fourth quarter of 2024.

The Company remains on track to meet its previously disclosed updated forecast for 2024 of between approximately 6,500 and 7,000 GEOs, which equates to approximately $13 million to $14million in forecasted Total Revenue, Land Agreement Proceeds and Interest.

The 2024 foregoing outlook is based on an assumed gold price of $2,000 per ounce and copper price of $4.25 per pound and on public forecasts, expected development timelines and other disclosure by the owners and operators of the properties underlying our interests and our assessment thereof.

* Total GEOs and Total Revenue, Land Agreement Proceeds and Interest are non-IFRS financial measures. See “Non-IFRS Measures” below.

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.