Vox Royalty Corp. (TSX-V: VOX) a high growth precious metals focused royalty company, is pleased to announce that it has entered into binding agreements with a group of private individuals pursuant to which Vox will acquire an effective aggregate 0.633% net smelter returns royalty and associated advance minimum royalty payments of over C$120,000 per annum on part of Gold Standard Ventures Railroad-Pinion Gold Project located on the prolific Carlin Trend in Elko County, Nevada for total cash consideration of US$1,980,000.

Spencer Cole, Executive Vice President of North America stated: “Vox is excited to announce its first Nevada gold royalty acquisition over a Carlin Trend project that is rapidly advancing towards feasibility completion in 2021 and a subsequent construction decision. Vox acquired this royalty from a family associated with the Nevada ranch where the South Railroad project is located. The royalty covers approximately 35% of the resource base at South Railroad and most of GSV’s ongoing expansion drilling at Dark Star, Pinion and Jasperoid Wash. We look forward to further value being unlocked for Vox shareholders as the South Railroad Project is rapidly progressed towards production.”

Transaction Highlights

• Acquisition provides exposure to one of Nevada’s most rapidly advancing gold development projects at the pre-feasibility stage South Railroad Project  that hosts a total resource estimate of 85Mt @ 0.7g/t Au, 4.1g/t Ag for 1.856Moz Au, 5.251Moz Ag⁽²⁾.
• The Royalty covers large portions of the Dark Star, Pinion and Jasperoid Wash deposits at South Railroad as well as portions of the POD and Bald Mountain zones in the North Railroad portion of Railroad Pinion.
• GSV released an updated Pre-Feasibility Study on the Dark Star and Pinion deposits at South Railroad on March 24, 2020 ⁽¹⁾, which envisaged an 8-year open pit, heap leach mine life producing a total of 923Koz, with 146Koz per annum expected to be produced in the first 5 years of operation at an all-in sustaining cost of US$707/ounce and initial capex of US$133M.
• GSV is expecting to release a feasibility study on South Railroad by 2021 year-end.
• Orion Mine Finance a global alternative investment management firm with approximately US$6.3 billion under management as of 31 December 2020, has agreed to provide GSV with a term sheet to provide up to US$200 million of financing support to GSV, following the satisfaction of mutually agreed milestones, to help finance the construction of South Railroad.
• Vox Management Summary: The South Railroad royalty in Nevada covers approximately 35% of the 1.9Moz resource estimate⁽²⁾ of a rapidly advancing gold project offering near-term development catalysts (2021 feasibility study completion), immediate annual cashflows to Vox of approximately C$120,000 in advance minimum royalty payments and, in the medium-term, royalty revenue generation potential of approximately C$250,000 – C$750,000 per annum averaged across the life of mine based on the PFS⁽¹⁾.

South Railroad Asset Overview

GSV’s flagship property is the Railroad-Pinion Project located along the Piñion Mountain Range approximately 15 miles (24km) south-southeast of Carlin, Nevada, in the Railroad Mining District. Railroad Pinion has two adjacent parts: North Railroad, which includes the POD, Sweet Hollow and North Bullion deposits and South Railroad, which includes the Dark Star, Pinion and Jasperoid Wash deposits.

Railroad-Pinion is an intermediate to advanced stage gold project with a favorable structural, geological and stratigraphic setting situated at the southeast end of the Carlin Trend of north-central Nevada, adjacent to and south of Nevada Gold Mines’ Rain Mining District. The Carlin Trend is a northwest alignment of sedimentary rock-hosted gold deposits with past production exceeding 80,000,000 ounces of gold. Each dome or “window” is cored by igneous intrusions that uplift and expose Paleozoic rocks and certain stratigraphic contacts that are favourable for formation of Carlin-style gold deposits. Railroad-Pinion is centered on the fourth and southernmost dome-shaped window on the Carlin Trend.

Figure 1: South Railroad Project (Source: GSV Corporate Presentation, March 2021)

Key Highlights of the PFS include:

• Pre-tax net present value of US$331.4M at a 5% discount rate and an after tax NPV of US$265.0M at a US$1,400 gold price and a US$17.11 silver price, with a mineral reserve pit designs based on a gold price US$1,250 per ounce and a silver price of US$15.30 per ounce.
• Proven and probable mineral reserves of 1.246 million ounces of gold and 2.705 million ounces of silver.
• Average annual gold placement of 156,000 ounces of gold per year over an initial 8-year mine life.
• Average life of mine cash cost of US$582 per ounce after by-product credit, and AISC of US$707 per ounce.
• Initial capital expenditures of US$132.9M.

Details of the PFS can be found in the Form 43-101F1 Technical Report “Updated Preliminary Feasibility Study” at the following link:

https://goldstandardv.com/site/assets/files/4408/m3_gsv_revised_pfs_23_03_2020.pdf

In a press release dated July 16, 2020, GSV announced that they had entered into a binding letter of intent with Orion relating to a series of transactions, totaling approximately US$22.5 million. Orion also has agreed to provide GSV with a term sheet to provide up to US$200 million of financing support to GSV, following the satisfaction of mutually agreed milestones, to help finance the construction of South Railroad.

Railroad Pinion Resource Estimate as at March 23, 2020⁽²⁾

Table 1: Total Railroad Pinion Mineral Resource as at March 23, 2020

For more information on Railroad Pinion, please visit the GSV website at:

https://goldstandardv.com/

Transaction Closing

Closing of the Transaction is expected to occur prior to June 30, 2021. Closing of the Transaction will occur following customary conditions. Vox will use current cash on hand to fund the payment of the aggregate purchase price for the Transaction. In addition to the aggregate purchase price, Vox has agreed to pay a cash finders’ fee of US$99,000 to R&R Land Mineral & Oil, LLC in compliance with the limitations set forth in section 3.3 of TSX Venture Exchange policy 5.1.

Qualified Person

Timothy J. Strong, MIMMM, of Kangari Consulting Limited and a “Qualified Person” under National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical disclosure contained in this press release.

About Vox

Vox is a high growth precious metals royalty and streaming company with a portfolio of over 50 royalties and streams spanning nine jurisdictions. The Company was established in 2014 and has since built unique intellectual property, a technically focused transactional team and a global sourcing network which has allowed Vox to become the fastest growing company in the royalty sector. Since the beginning of 2019, Vox has announced over 20 separate transactions to acquire over 45 royalties.

Further information on Vox can be found at www.voxroyalty.com.

Figure 1: South Railroad Project (Source: GSV Corporate Presentation – https://goldstandardv.com/site/assets/files/4431/gsv_corp_pres_-_march_2021.pdf, March 2021) (CNW Group/Vox Royalty Corp.)

Table 1: Total Railroad Pinion Mineral Resource as at March 23, 2020 (CNW Group/Vox Royalty Corp.)