Company: GROY-WT
Filing Date: 2025-12-08
Form Type: 424B5
Source: 0001493152-25-026680
Chunk: 3

Company: Gold Royalty Corp.
Filing Date: 2025-12-08
Form: 424B5
Chunk 3
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 offered by this prospectus supplement only in jurisdictions where offers and sales are permitted. The distribution of this prospectus supplement and the accompanying prospectus and the offering of the common shares offered by this prospectus supplement in certain jurisdictions may be restricted by law. Persons outside the United States who come into possession of this prospectus supplement and the accompanying prospectus must inform themselves about, and observe any restrictions relating to, the offering of the common shares and the distribution of this prospectus supplement and the accompanying prospectus outside the United States. This prospectus supplement and the accompanying prospectus does not constitute, and may not be used in connection with, an offer to sell, or a solicitation of an offer to buy, any common shares offered by this prospectus supplement and the accompanying prospectus by any person in any jurisdiction in which it is unlawful for such person to make such an offer or solicitation.

Neither we nor the Underwriters have taken any action that would permit this offering or possession or distribution of this prospectus in any jurisdiction where action for that purpose is required, other than in the United States . You are required to inform yourselves about and to observe any restrictions relating to this offering and the distribution of this prospectus.

We are also offering the common shares in Canada by way of a separate Canadian prospectus supplement, of which this prospectus supplement forms a part. The Canadian prospectus supplement, which will be filed with the securities regulators in all of the provinces and territories of Canada, except Québec and Nunavut, has the same date as this prospectus supplement and contains substantially the same information but has a different format and is not considered part of this prospectus supplement. The offering being made in the United States is being made solely on the basis of the information contained in this prospectus supplement and the accompanying prospectus. Investors should take this into account when making investment decisions.

NBF, RBC, Canaccord Genuity Corp., Scotia Capital Inc., Raymond James Ltd. and Ventum Financial Corp. are not registered as broker-dealers
in the United States and, accordingly, will only sell offered common shares in Canada, and BMO and H.C. Wainwright & Co., LLC are not registered as investment dealers in any Canadian jurisdiction and, accordingly, will only sell offered
common shares in the United States.

<div align='center'>PRESENTATION OF FINANCIAL INFORMATION</div>

We report under IFRS Accounting Standards as issued by the International Accounting Standards Board. None of the financial statements incorporated by reference in this prospectus