Company: GROY-WT
Filing Date: 2025-12-08
Form Type: 424B5
Source: 0001493152-25-026487
Chunk: 1

Company: Gold Royalty Corp.
Filing Date: 2025-12-08
Form: 424B5
Chunk 1
---
 Factors” on page S-7 contained in this prospectus supplement, the accompanying prospectus and in the documents incorporated by reference into this prospectus supplement and the accompanying prospectus.

|                                           |     | Per common share |   |     | Total |   |
|:------------------------------------------|:----|:-----------------|:--|:----|:------|:--|
| Public offering price                     |     | $                | ● |     | $     | ● |
| Underwriting discounts and commissions(1) |     | $                | ● |     | $     | ● |
| Proceeds to us, before expenses           |     | $                | ● |     | $     | ● |

Notes:

| (1) | Represents                                                                                       
 underwriting discount and commissions equal to ●% of the aggregate purchase price paid           
 to the Underwriters by us per common share. We have also agreed to reimburse the representatives 
 of the Underwriters for certain of their expenses. See “Underwriting”                            
 for a description of compensation to be paid to the Underwriters. The Underwriters have also     
 agreed to reimburse the Company for certain expenses.                                            |

We have granted the Underwriters the right to purchase up to an additional ● common shares to cover over-allotments, if any. The Underwriters can exercise this right at any time within 30 days after the closing date of this offering (the “ Closing Date”). If the Underwriters exercise the option in full, the total underwriting discounts and commissions payable by us will be $●, and the total proceeds to us, before expenses, will be $●.

All or a portion of the net proceeds of this offering will be used to acquire a net smelter return royalty interest in respect of the Pedra Branca Gold-Copper Project, located in the state of Pará in north-eastern Brazil. See “ Use of Proceeds”. This offering is not conditional upon completion of such acquisition. The proposed acquisition is subject to customary conditions to closing and there is no guarantee that such acquisition will close on a timely basis or at all. See “ Risk Factors – Risks Related to this Offering” and “ Risk Factors – Risks Related to the Acquisition”.

Neither the United States Securities and Exchange Commission nor any state securities commission or any other regulatory body, has approved or disapproved of these securities or passed upon the adequacy or accuracy of this prospectus supplement or the accompanying prospectus. Any representation to the contrary is a criminal offense.

National Bank of Canada, an affiliate