Company: GROY-WT
Filing Date: 2025-12-08
Form Type: 424B5
Source: 0001493152-25-026680
Chunk: 16

Company: Gold Royalty Corp.
Filing Date: 2025-12-08
Form: 424B5
Chunk 16
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 to meet their liquidity needs may 
 adversely affect the value of, and revenue from, such interests;                         |

| ● | estimates                                                                                         
 of mineral resources and mineral reserves disclosed by the owners and operators of the properties 
 underlying our royalties, streaming and other interests may be subject to significant revision;   |

| ● | depleted                                                                                  
 mineral reserves may not be replenished by the operators of the properties underlying our 
 royalties, streaming and other interests;                                                 |

| S-10 |

| ● | we                                                                                       
 may enter into transactions with related parties and such transactions present potential 
 conflicts of interests;                                                                  |

| ● | regulations                                                                                
 and political or economic developments in any of the jurisdictions where the properties in 
 which we hold or may hold royalties, streaming or similar interests are located may impact 
 the projects underlying our interests;                                                     |

| ● | opposition                                                                          
 from Indigenous peoples may adversely impact the projects underlying our interests; |

| ● | environmental                                                                             
 risks in the jurisdictions where projects underlying our interests are located may affect 
 the projects underlying our interests;                                                    |

| ● | our                                                                                         
 operations and those of the owners and operators of the properties underlying our interests 
 may be negatively impacted by the effects of the spread of illnesses or other public health 
 emergencies;                                                                                |

| ● | our                                     
 dependence on key management personnel; |

| ● | 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;                   |

| ● | 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 royalties, streaming or other interests 
 in could have a material adverse effect on our business and operating results;           |

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

This list of factors should not be construed as exhaustive and should be read with other cautionary statements in this prospectus supplement and the accompanying prospectus.

Although we have attempted to identify important risk factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other risk factors not presently known to us or that we presently believe are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking statements. There can be no assurance that such information will prove to be accurate, as actual results