Company: GROY-WT
Filing Date: 2025-12-08
Form Type: 424B5
Source: 0001493152-25-026680
Chunk: 54

Company: Gold Royalty Corp.
Filing Date: 2025-12-08
Form: 424B5
Chunk 54
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 are appropriate and reasonable in the circumstances, including that:

| ● | the                                                                                                                               
 public disclosures of the operators regarding the properties underlying our interests are accurate, including that such operators 
 will meet their disclosed production targets and expectations;                                                                    |

| ● | current                                                                         
 gold, base metal and other commodity prices will be sustained, or will improve; |

| ● | the                                                                                                                                 
 proposed development of the projects underlying our royalties and other interests will be viable operationally and economically and 
 will proceed as expected;                                                                                                           |

| ● | any                                                                            
 additional financing required by us will be available on reasonable terms; and |

| ● | operators                                                                                                                         
 of the properties where we hold royalties and other interests will not experience any material accident, labor dispute or failure 
 of equipment.                                                                                                                     |

Despite a careful process to prepare and review the forward-looking statements, there can be no assurance that the underlying opinions, estimates and assumptions will prove to be correct.

Actual results could differ materially from those anticipated in these forward-looking statements as a result of the following risk factors, among others:

| ● | we                                                                                                                                  
 own passive interests in mining properties, and it is difficult or impossible for us to ensure properties are developed or operated 
 in our best interest;                                                                                                               |

| ● | a                                                                                                                            
 substantial majority of our royalty and other interests are on non-producing properties, which may never achieve production; |

| ● | our                                                                  
 revenue is subject to volatility in gold and other commodity prices; |

| ● | the                                                                                                                               
 volatility in gold and other commodity prices may have an adverse impact on the value of our royalty and similar interests and on 
 the payments we receive thereunder in the future;                                                                                 |

| ● | we                                                                            
 have limited or no access to data or the operations underlying our interests; |

| ● | a                                                                                           
 significant portion of our revenues is derived from a small number of operating properties; |

| ● | the                                                                                                                                     
 value and potential revenue from our royalty interests are subject to many of the risks faced by owners and operators of the properties 
 underlying our interests;                                                                                                               |

| ● | our                                                                                                                    
 business, financial condition and results of operations could be adversely affected by market and economic conditions; |

| ● | we                                                                      
 may enter into acquisitions or other material transactions at any time; |

| 3 |

| ● | current                                                                                                                
 and future indebtedness could adversely affect our financial condition and impair our ability to operate our business; |

| ● | we                                                                                                      
 may require additional financing in the