Company: GROY-WT
Filing Date: 2025-03-20
Form Type: 20-F
Source: 0000950170-25-042306
Chunk: 30

Company: Gold Royalty Corp.
Filing Date: 2025-03-20
Form: 20-F
Item: Item 4
Chunk 30
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 abundant disseminated sulphide and quartz sulphide vein stockworks.                                                                                                                                                                                                                             
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 Notes:
 (1)Royalty applies to only a portion of the property.
 (2)Applies to all of the Jeffrey zone and to a portion of the Barnat Extension of the Canadian Malartic mine (open pit) on the Canadian Malartic Property, as well as portions of Odyssey, East Malartic, Sladen and Sheehan zones. See " – Material Property" for further information.
 (3)Royalty subject to a production hurdle of 120,000 oz of production.
 (4)The Vareš copper stream applies to 100% of copper production from the mining area over the Rupice deposit. The stream has associated ongoing payments equal to 30% of the LME spot copper price, with the effective payable copper fixed at 24.5%.
 (5)Royalty to decrease to a 0.5% NSR after 725,000 oz of gold production. Subject to a buyback right of the operator, whereby a 0.5% NSR may be repurchased for $2.5 million after the earlier of 2,250,000 oz of production or 2050. Gold linked royalty convertible loan may be converted into an incremental 0.5% NSR upon maturity, the converted 0.5% NSR may also be repurchased for $2.5 million after the earlier of 2,250,000 oz of production or 2050.
 (6)Royalty can be increased to 1.75% NSR for an exercise price of $5 million.
 See "Item 5. Operating and Financial Review and Prospects – Selected Asset Updates" for further information regarding our material and other key royalties.
 In addition to the above, our portfolio currently also includes the following additional Exploration Stage royalties:
 

Asset(1)                  Operator / Optionor                                                               Interest   Metals   Location       
Agar                      Val-d'Or Mining Corp. ("Val-d'Or Mining")                                        1.25% NSR   Au       Québec, Canada 
Alpha Project             O3 Mining Inc.                                                        1.5% NSR and 20% FCI   Au       Québec, Canada 
Amikougami                Val-d'Or Mining                                                                  1.25% NSR   Au       Ontario, Canada
Antelope Springs          Americas Gold and Silver Corporation ("Americas Gold Corporation")                1.0% NSR   Au