Company: GROY-WT
Filing Date: 2025-12-08
Form Type: 424B5
Source: 0001493152-25-026487
Chunk: 21

Company: Gold Royalty Corp.
Filing Date: 2025-12-08
Form: 424B5
Chunk 21
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 12 Mt at 1.41% copper and 0.40 g/t gold, utilizing a cut-off based on an NSR value of $78.73/t. It also disclosed estimated proven mineral reserves at Pedra Branca of 1.3 Mt at 1.8% copper and 0.48 g/t gold and probable mineral reserves of 2.5 Mt at 1.85% copper and 0.49 g/t gold, utilizing cut-offs based on NSR values of $78.73/t above mining level 810 and $84.20/t below the 810 mining level.

On August 18, 2025, BHP announced that a wholly-owned subsidiary of CoreX Holding had agreed to acquire Pedra Branca, along with BHP’s other Carajás copper assets in Brazil. CoreX Holding is a highly diversified, vertically integrated, global industrial conglomerate established in 2024. CoreX Metals & Mining, the metals and mining subsidiary of CoreX Holding, operates as part of a global network spanning 20 companies in 11 countries. Since the initiation of its operations, CoreX Metals & Mining has been focusing on metals and mining operations for chrome, nickel, gold, copper, polymetals mining, ferroalloys, and chrome chemicals through exploring, extracting, and processing mineral sources.

<div align='center'>Source: Pedra Branca Mineral Resource and Ore Reserve Statement and Explanatory Notes as at 30 June 2022, published by OZ Minerals</div>

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<div align='center'>USE OF PROCEEDS</div>

We estimate that we will receive net proceeds from this offering of $● million (determined after deducting the underwriting discounts and commissions of $● million and estimated expenses of this offering of $● million), or $● million if the Underwriters exercise their over-allotment option in full (determined after deducting the underwriting discounts and commissions of $● million and estimated expenses of this offering of $● million).

Principal Purpose

The net proceeds of this offering, together with cash on hand, will be used to fund the Acquisition, and for general corporate purposes and working capital, which may include the reduction of future debt outstanding under the Credit Facility. See the section entitled “ The Acquisition” above.

The following table sets forth the intended use of the estimated net proceeds of $● million, after deducting underwriting discounts and commissions and estimated offering expenses payable by us.

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