Company: GROY-WT
Filing Date: 2025-12-08
Form Type: 424B5
Source: 0001493152-25-026680
Chunk: 48

Company: Gold Royalty Corp.
Filing Date: 2025-12-08
Form: 424B5
Chunk 48
---
 that is modified or superseded in this manner will no longer be a part of this prospectus supplement and the accompanying prospectus, except as modified or superseded.

We will provide you without charge, upon your written or oral request, a copy of any of the documents incorporated by reference in this prospectus supplement and the accompanying prospectus, other than exhibits to such documents which are not specifically incorporated by reference into such documents. Please direct your written or telephone requests to Gold Royalty Corp., 1188 West Georgia Street, Suite 1830, Vancouver, British Columbia V6E 4A2 and our telephone number is + 1 (604) 396-3066. Our website address is www.goldroyalty.com. Information contained in our website is not part of this prospectus supplement and the accompanying prospectus.

<div align='center'>OFFERING EXPENSES</div>

The following is a statement of expenses in connection with the distribution of the securities registered. All amounts shown are estimates except the SEC registration fee and the FINRA fees. The estimates do not include underwriting discounts and commissions and other estimated offering expenses to be paid by us in connection with this offering.

| SEC registration fees         |     | $ |       – |
| FINRA fees                    |     | $ |       – |
| Legal fees and expenses       |     | $ | 345,000 |
| Accountants fees and expenses |     | $ |  50,000 |
| Miscellaneous                 |     | $ |   5,000 |
| Total                         |     | $ | 400,000 |

| S-29 |

PROSPECTUS

<div align='center'>$250,000,000

Common Shares

Preferred Shares

Warrants

Subscription Receipts

Debt Securities

Units</div>

We may offer, issue and sell from time to time, in one or more offerings, common shares, preferred shares, warrants, subscription receipts, debt securities or units, which we collectively refer to as the “securities.” The aggregate initial offering price of the securities that we may offer and sell under this prospectus will not exceed $250.0 million.

We may offer and sell any combination of the securities described in this prospectus in different series, at times, in amounts, at prices and on terms to be determined at or prior to the time of each offering. This prospectus describes the general terms of these securities and the general manner in which these securities will be offered. Each time we sell securities pursuant to this