Sandstorm Gold Ltd. (NYSE: SAND) (TSX: SSL) is pleased to provide updates from key development projects within its diversified portfolio of streaming and royalty assets.

Greenstone Gold Mine Official Opening and Ramp-up

On August 29, Equinox Gold Corp. officially opened its 100% owned Greenstone mine in Geraldton, Ontario, marking a significant milestone for the company. The event featured remarks from Indigenous partners, government officials, and Equinox Gold’s leadership. Greg Smith, the company’s President & CEO, highlighted the importance of the Greenstone mine as a cornerstone asset, being one of Canada’s largest and lowest-cost gold producers.

The Greenstone mine, which began construction in October 2021, poured first gold in May 2024 and is currently ramping up to commercial production. The mine produced approximately 2,625 ounces of gold in May, 13,625 ounces in June, and 19,750 ounces in July, with throughput exceeding 60% of its design capacity during the month of August.

For more information, visit Equinox Gold’s website at www.equinoxgold.com and refer to the press release dated August 29, 2024.

Sandstorm holds a gold stream on the Greenstone mine whereby the Company is entitled to purchase 2.375% of gold produced at the mine until 120,333 ounces are delivered, and then 1.583% of gold produced thereafter. Sandstorm will make ongoing payments equal to 20% of the spot price of gold per ounce plus an additional payment of up to US$30 per ounce in ESG contributions.

Platreef Phase 1 Concentrator Complete; Advancing Toward 2025 Production

Ivanhoe Mines Ltd. provided an update on construction activities at its Platreef PGM mine in South Africa, including the on-schedule completion of the Phase 1 concentrator, which entered cold commissioning in July. In-line with Platreef’s optimized development plan schedule, the concentrator will be placed on care and maintenance until the second half of 2025 as Shaft #1 prioritizes waste hoisting to support and accelerate the development of Phase 2. An updated Feasibility Study for Phase 2 and a Preliminary Economic Assessment for the Phase 3 expansion are underway and expected to be complete in the fourth quarter of 2024.

Construction of Shaft #2—critical for the Phase 3 expansion—is advancing well and headgear is approximately 60% complete. Sinking of Shaft #2, which will be the largest on the African continent once complete, is expected to commence in the first quarter of 2025. The Phase 3 expansion aims to increase Platreef’s processing capacity to 10 million tonnes per annum (“Mtpa”), making it one of the largest and lowest-cost platinum-group metal, nickel, copper, and gold producers globally.

For more information, visit the Ivanhoe Mines website at www.ivanhoemines.com and see the press release dated July 31, 2024.

Sandstorm holds a gold stream on the Platreef project whereby Sandstorm is entitled to purchase 37.5% of payable gold produced from Platreef until 131,250 gold ounces have been delivered, then 30% of payable gold produced until an aggregate of 256,980 ounces are delivered, then 1.875% thereafter if certain conditions are met. Sandstorm will make ongoing cash payments of US$100 per ounce of gold until 256,980 ounces have been delivered, and then 80% of the spot price of gold for each ounce delivered thereafter.

Develop Global Secures Funding for Woodlawn Restart; Production on Track for 2025

Develop Global Limited has secured a US$65 million prepayment/loan facility and offtake agreement with global commodities trader Trafigura Pte Ltd. for its Woodlawn copper-zinc mine in New South Wales, Australia. The facility, combined with Develop Global’s existing cash reserves and cash from its mining services division, ensures that Woodlawn is fully funded through to production. The deal increases the project’s net present value by 11% to A$728 million and forecasts a pre-tax free cash flow of A$1.1 billion over a 10-year mine plan. Develop Global is on track to make a final investment decision for the Woodlawn project in the third quarter of 2024, putting Woodlawn on track for first production and cash flows in mid-2025.

For more information, visit Develop Global’s website at www.develop.com.au and see the press release dated August 2, 2024.

Sandstorm has a silver stream on the Woodlawn project whereby the Company has the right to receive an amount of silver equal to 80% of payable silver produced, to a maximum value of A$27 million. In addition, the Company holds a second stream on Woodlawn under which the operator has agreed to pay Sandstorm A$1.0 million for each 1 million tonnes of tailings ore processed at Woodlawn, subject to a cumulative cap of A$10 million.

Construction Progress at Bayan Khundii Targets First Production in 2025

Erdene Resource Development Corp. reported continued progress at the Bayan Khundii gold project located in Mongolia. The company continues to make significant strides in the project’s development, with construction having reached approximately 30% completion at the end of June 2024. The process plant, a critical path facility for the project, was nearly 40% constructed, with all major mechanical equipment now on-site. Construction has also begun on key non-process infrastructure, including the overhead transmission line. As of August 2024, approximately US$60 million has been invested in the project with almost 500 personnel on-site. The project remains largely on schedule with first gold production anticipated in mid-2025.

Exploration efforts within the Khundii Minerals District have also yielded promising results, identifying several new gold targets across the Khundii and Zuun Mod licenses. Drilling is currently underway at Bayan Khundii to test targets west of the economic pit, with the goal of expanding the Resource base and increasing confidence in the high-grade ore scheduled for mining in the first year of production. The results of these exploratory activities are expected to be released in 2024.

For more information, visit Erdene’s website and www.erdene.com and see the press release dated August 8, 2024. Sandstorm has a 1.0% net smelter returns royalty on the Bayan Khundii project.

Allied Gold Secures Funding for Advancements at Côte d’Ivoire Assets

Allied Gold Corporation announced the closing of US$53 million in stream financing for advancement initiatives at its Côte d’Ivoire Complex (CDI Complex), which includes the Bonikro and Agbaou gold mines. The stream financing will support the advancement of highly prospective sites with Allied Gold allocating a total of US$16.5 million in 2024 to advance high priority targets such as Oume, Akissi-So, Agbalé, and others, which are located within Sandstorm’s Bonikro stream claim. Allied Gold expects to accelerate projects that aim to optimize operations, extend mine life, and increase asset value by unlocking additional upside potential.

For more information, visit Allied Gold’s website at www.alliedgold.com and see the press releases dated August 7 and August 14, 2024.

In conjunction with Allied Gold’s financing, Sandstorm amended its Bonikro gold stream such that the Company is entitled to minimum annual deliveries of 4,000–6,000 ounces in the 2024–2026 period and 2,000–3,000 ounces in the 2027–2029 period (the “Annual Delivery Amount”). No other changes were made to the delivery or payment terms under the stream. Sandstorm’s gold stream on the Bonikro mine allows the Company to purchase 6% of gold produced at the mine until 39,000 ounces of gold are delivered, then 3.5% of gold produced until 61,750 cumulative ounces of gold have been delivered, then 2% thereafter, subject to the Annual Delivery Amount. Sandstorm will make ongoing payments of $400 per gold ounce delivered.

ABOUT SANDSTORM GOLD ROYALTIES

Sandstorm is a precious metals-focused royalty company that provides upfront financing to mining companies and receives the right to a percentage of production from a mine, for the life of the mine. Sandstorm holds a portfolio of over 230 royalties, of which 41 of the underlying mines are producing. Sandstorm plans to grow and diversify its low-cost production profile through the acquisition of additional gold royalties.