Vox Royalty Corp. (TSX-V: VOX) is pleased to announce that it has entered into a binding purchase and sale agreement to acquire the rights to a portfolio of up to eight royalties from Breakwater Resources Ltd. and some of its wholly-owned affiliates. Total consideration for the Transaction is up to C$980,002, which is comprised of up to C$455,002 in cash and C$525,000 in Vox shares issued at the trailing 30-day volume weighted average price on the closing date of the Transaction. Closing of the Transaction will occur following satisfaction of customary conditions including the approval of the TSX Venture Exchange as well as execution and delivery of standard transaction documentation.

The royalty portfolio was created through historical divestments by Breakwater, Nyrstar N.V. and their affiliates (including Jascan Resources, Inc., Novamin Resources Inc., Nyrstar Myra Falls Ltd. and CanZinco Ltd.) from 1988 – 2015.

Transaction Highlights

• Addition of up to 8 High Quality Precious and Base Metals Royalties Based in Canada and the United States;
• Royalty portfolio covers multiple technical engineering studies and 5 resource estimates (each of which are National Instrument 43-101 – Standards of Disclosure for Mineral Projects or Joint Ore Reserves Committee compliant);
• Well capitalized counterparties positioned to rapidly advance royalty projects: operating partners include Agnico Eagle Mines Limited (NYSE), Alamos Gold Inc. (TSX), Hecla Mining Company (NYSE) and Galway Metals Inc. (TSX-V); and
• Strengthens Vox’s low geopolitical risk of >75% royalty assets located in Australia, Canada and USA.

Spencer Cole, Executive Vice President of North America stated: “Vox is very excited to acquire this high quality North American royalty portfolio with Tier 1 operating partners such as Agnico Eagle, Alamos Gold and Hecla. These royalty assets are some of the most interesting and prospective that Vox has acquired to date, including the third largest copper/silver project in the USA, the shovel-ready Lynn Lake gold project in Manitoba and the West Malartic royalty that is 10km northwest along the Larder-Cadillac Break from the largest open pit gold mine in Canada. When this transaction closes, we will have successfully grown our royalty portfolio by over 40 assets since January 2019. Based on the technical studies and five resource estimates on royalty claims, we see strong potential for meaningful cashflow generation from this portfolio.”

Portfolio Overview

Key Assets

Lynn Lake (MacLellan) – 2% Gross Proceeds*

The Lynn Lake gold project is a feasibility-stage gold project in a past-producing gold camp. It consists of five near surface deposits and has significant existing infrastructure. Its two primary deposits are MacLellan and Gordon, which were the subject of a positive feasibility study published on January 25, 2018.

The study outlined average annual production of 143,000 ounces over a 10-year mine life at mine-site all-in sustaining costs of US$745 per ounce. The Environmental Impact Study was submitted in May 2020 to satisfy federal and provincial environmental assessment requirements. According to Alamos, the permitting process is expected to take approximately two years followed by two years of construction with a construction decision planned for 2022.

The royalty covers part of the MacLellan deposit, which is forecast to produce 947,000 ounces of gold and 2,578,000 ounces of silver over the proposed 10-year mine life.

Lynn Lake Gold Project Reserves as at December 1, 2017 ⁽¹⁾

For further on the Lynn Lake project and the January 2018 Feasibility Study please refer to Alamos Gold’s website: https://www.alamosgold.com/operations/development-projects/lynn-lake-canada/default.aspx

Montanore – US$0.20/ton

Hecla acquired the Montanore project in September 2016 with the acquisition of Mines Management Inc. The Montanore project is located approximately five miles northeast of Noxon, Sanders County, Montana and approximately 50 miles north of the Lucky Friday mine in Idaho. The deposit is categorized as a stratabound sediment-hosted silver-copper deposit, and is one of three major deposits in the area, including the Troy Mine and Rock Creek deposit.

According to Hecla, the combined Montanore & Rock Creek projects are the 3^rd largest undeveloped copper (silver) deposits in the United States (Source: Hecla 20 September 2020 investor presentation).

As the project’s prior operator, MMI released a Preliminary Economic Assessment dated February 3, 2011 that contemplated a potential 12,500 short ton per day operation over a 15-year mine life for total life of mine mill feed of 58,873,000 tons @ 1.9oz/st silver and 0.7% copper.

Montanore Resources as at December 31, 2018 ⁽²⁾

For more information on the Montanore project, please visit Hecla’s website at www.hecla-mining.com

Estrades – 2% to 3% NSR

Galway holds a 100% ownership interest in the former producing, high grade Estrades mine, related Newiska concessions, and adjacent Casa Berardi claims in western Québec, Canada, located approximately 95 km north of the town of La Sarre. The claims are largely contiguous and comprise 31 km of strike.

In September 2018, Galway reported that the resource at Estrades has grown substantially and now contains 543,051 gold equivalent ounces of Indicated Mineral Resources grading 11.3g/t AuEq, plus 520,430 AuEq oz of Inferred Mineral Resources grading 7.4 g/t AuEq. From a zinc equivalent perspective, the Estrades deposit now contains 685 million ZnEq lb of Indicated Mineral Resources grading 20.8%, plus 656 million ZnEq lb of Inferred Mineral Resources grading 13.5%. The Estrades deposit was previously mined via a 200-metre deep ramp, with production in 1990-91 totaling 174,946 tonnes grading 12.9% Zn, 6.4 g/t Au, 1.1% Cu and 172.3 g/t Ag.

Breakwater spent C$20 million in 1990 developing Estrades, including the installation of a 200-metre deep by 150-metre along strike decline, a ventilation raise and associated infrastructure. Production in 1990-91 totalled 174,946 tonnes grading 12.9% Zn, 6.4 g/t Au, 1.1% Cu and 172.3 g/t Ag. Breakwater closed the mine amid weak metal prices and excessive contract mining and processing costs.

The Estrades royalty is a 2% Net Returns (effective NSR) on the first 450,000 tonnes of ore mined and then 3% Net Returns on any amount mined in excess of 450,000 tonnes.

Estrades Resources as at September 10, 2018 ⁽³⁾

For more information on the Estrades project, please visit Galway’s website at https://galwaymetalsinc.com/estrades/

Lynn Lake (Nickel) – 2% Gross Proceeds*

The Lynn Lake Mining Centre in Manitoba, Canada, is a historically significant mining center with large JORC compliant resources and supporting infrastructure. Corazon Mining Ltd. has consolidated the entire Lynn Lake nickel camp and its extensive historical datasets, which includes more than 75 years of exploration and 24 years of mining information.

The nickel-copper-cobalt sulphide deposits at Lynn Lake were mined continuously between 1954 and 1976 (in that time processing more than 20 million tonnes), and it was one of Canada’s major nickel mining centers of its time. Substantial resources remain and further extensive drill defined mineralisation also exists within the mining center. These areas outline targets with the potential for further discoveries, which would underpin a potentially sizable resource base at Lynn Lake.

As part of Corazon’s process of defining Lynn Lake’s development potential, new quality resource estimations have been completed and modern metallurgy has been undertaken. The metallurgical work has delivered a major technical breakthrough, for the first time in Lynn Lake’s history producing separate high-value and high-purity nickel and copper concentrates (refer to ASX announcements dated 11th and 12th February 2019). This work will underpin the commencement of a scoping study into the potential redevelopment of Lynn Lake. The royalty covers part of the Lynn Lake nickel-copper-cobalt deposit.

Lynn Lake (Nickel) Resources as at October, 2018 ⁽⁴⁾

For more information on the Lynn Lake (Nickel) project, please visit Corazon’s website at https://corazon.com.au/projects/canada/lynn-lake/

Kenbridge – 1% NSR (buyback for C$1.5M)

The Kenbridge Nickel Deposit was discovered in 1937 by Coniagas and is located in Kenora, Ontario between Fort Frances and Dryden. Falconbridge Limited acquired the property in 1952, began construction in 1954 with a subsequent mining operation lasting for 2.5 years. A 609 metre-deep shaft with two working levels were developed and a bulk sample was extracted. At that time, there was no feasible way to move the ore to facilities, so it was shut down in 1958. The project sat dormant until 2007 when Canadian Arrow Mines Limited acquired the property, completed a 40,000 metre drill campaign and proceeded to establish a NI 43-101 Resource Estimate & PEA (Historic PEA, 2008 various updates in 2010).

The Kenbridge Nickel Deposit is located in a stable political and mining friendly region (New Gold’s Rainy River Gold Deposit is located 80 km to the south) and has all season road access to within 9 kilometres of the deposit.

Kenbridge Resources as at September 17, 2020 ⁽⁵⁾

For more information on the Kenbridge project, please visit Tartisan Nickel Corp.’s website at https://tartisannickel.com/portfolio_page/kenbridge/

West Malartic / Chibex South – 0.66% NSR

The Chibex South property is located approximately 11km east of the town of Cadillac, within the Rouyn-Noranda Mining District, and located approximately 10km north-west of Canada’s largest operating open-pit gold mine Canadian Malartic, operated by Agnico-Eagle Mines Limited and Yamana Gold Inc (Source: https://canadianmalartic.com/en/about-us/).

The Chibex South property covers two past producing mines, the West Malartic Mine (mined 1942 – 1946) and the Pan Canadian #2 mine (mined 1938). The West Malartic Mine contained one vertical shaft developed to a depth of 1,231 feet with nine historical levels totalling some 14,550ft of drifting and cross-cutting. Historical production from May 11^th, 1942 – January 1946 at West Malartic produced a total of 308,332 tons of ore that yielded 35,582oz gold and 1,178oz silver for an average grade of 3.94 g/t gold.

Transaction Closing

Closing of the Transaction is expected to occur 70 days after the signing, following satisfaction of customary conditions including the approval of the TSX Venture Exchange as well as execution and delivery of standard transaction documentation. Vox will use current cash on hand to fund the payment of the cash consideration for the Transaction.

Qualified Person

Timothy J. Strong, MIMMM, of Kangari Consulting Limited and a “Qualified Person” under NI 43-101, has reviewed and approved the scientific and technical disclosure contained in this press release.

About Vox

Vox is a growth precious metals royalty and streaming company with a portfolio of over 45 royalties and streams spanning eight 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 15 separate transactions to acquire over 40 royalties.