Company: GROY-WT
Filing Date: 2025-12-08
Form Type: 424B5
Source: 0001493152-25-026487
Chunk: 14

Company: Gold Royalty Corp.
Filing Date: 2025-12-08
Form: 424B5
Chunk 14
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 to be made to us by the owners and operators of the projects underlying 
 our royalties, streaming and other interests;                                              |

| ● | expectations                                            
 regarding our royalties, streaming and other interests; |

| ● | the                                                                                      
 plans and expectations of the operators of properties where we own royalty and streaming 
 interests;                                                                               |

| ● | estimates                                                                                        
 of mineral reserves and mineral resources on the projects in which we have royalty and streaming 
 interests;                                                                                       |

| ● | estimates                                                                  
 regarding future revenue, expenses and needs for additional financing; and |

| ● | adequacy                        
 of capital and financing needs. |

These forward-looking statements are based on our opinions, estimates and assumptions in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other assumptions that we currently believe are appropriate and reasonable in the circumstances, including that:

| ● | the                                                                                       
 public disclosures of the operators regarding the properties underlying our interests are 
 accurate, including that such operators will meet their disclosed production targets and  
 expectations;                                                                             |

| ● | current                                                                         
 gold, base metal and other commodity prices will be sustained, or will improve; |

| ● | the                                                                                        
 proposed development of the projects underlying our interests will be viable operationally 
 and economically and will proceed as expected;                                             |

| ● | any                                                                            
 additional financing required by us will be available on reasonable terms; and |

| ● | operators                                                                                 
 of the properties where we hold royalties and streaming interests will not experience any 
 material accident, labor dispute or failure of equipment.                                 |

Despite a careful process to prepare and review the forward-looking statements, there can be no assurance that the underlying opinions, estimates and assumptions will prove to be correct.

| S-9 |

Actual results could differ materially from those anticipated in these forward-looking statements as a result of the following risk factors, among others:

| ● | we                                                                                             
 own passive interests in mining properties, and it is difficult or impossible for us to ensure 
 properties are developed or operated in our best interest;                                     |

| ● | a                                                                                        
 substantial majority of our royalty and other interests are on non-producing properties, 
 which may never achieve production;                                                      |

| ● | our                                                                          
 revenue is subject to volatility in gold, copper and other commodity prices; |

| ● | the                                                                                           
 volatility in gold, copper and other commodity prices may have an adverse impact on the value 
 of our royalties, streaming and similar interests and on the payments we receive thereunder   
 in the future;