Company: GROY-WT
Filing Date: 2025-12-08
Form Type: 424B5
Source: 0001493152-25-026680
Chunk: 56

Company: Gold Royalty Corp.
Filing Date: 2025-12-08
Form: 424B5
Chunk 56
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| ● | certain                                                                                                                          
 of our directors and officers also serve as directors and officers of other companies in the mining sector, which may cause them 
 to have conflicts of interest;                                                                                                   |

| ● | we                                                                                                                       
 hold investments in a concentrated number of equity securities and the fair values thereof are subject to loss in value; |

| ● | a                                                                                                                                 
 significant disruption to our information technology systems or those of our third-party service providers could adversely affect 
 our business and operating results;                                                                                               |

| ● | potential                                                                                                         
 litigation affecting the properties that we have royalty interests in could have a material adverse effect on us; |

| ● | we                                                                                        
 may use certain financial instruments that are subject to a number or inherent risks; and |

| ● | the                                                                                                                              
 other factors discussed under “Item 3. Key Information – D. Risk Factors” in our Annual Report on Form 20-F                      
 for the most recent year incorporated by reference herein, and other disclosure documents, which are available under our profile 
 at www.sedarplus.ca and www.sec.gov.                                                                                             |

This list of factors should not be construed as exhaustive. The Company does not intend to and does not assume any obligations to update forward-looking statements, except as required by applicable law.

The forward-looking statements made in this prospectus or any prospectus supplement, or the information incorporated by reference herein relate only to events or information as of the date on which the statements are made in such document. Except as required by U.S. federal securities law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. You should read this prospectus and any applicable prospectus supplement, and the information incorporated by reference herein, along with any exhibits thereto, completely and with the understanding that our actual future results may be materially different from what we expect. Other sections of this prospectus, prospectus supplement and the documents incorporated by reference herein include additional factors which could adversely impact our business and financial performance.

| 4 |

<div align='center'>PROSPECTUS SUMMARY</div>

This summary highlights information contained elsewhere in this prospectus or incorporated by reference herein and does not contain all of the information that you should consider in making your investment decision. Before deciding to invest in our securities, you should read this entire prospectus and any applicable prospectus supplement carefully, including the sections of