Gold Royalty Completes Acquisition of Qu├ębec Royalty Portfolio

Vancouver, British Columbia – December 21, 2023 – Gold Royalty Corp. ("Gold Royalty" or the "Company") (NYSE American: GROY) is pleased to announce that, further to its news release dated November 2, 2023, it has completed the acquisition of a portfolio of 21 royalties located in Québec from SOQUEM (Société Québécoise d'exploration minière), a subsidiary of Investissement Québec.

Pursuant to the transaction, the Company acquired the royalty portfolio for consideration C$1.0 million, which was satisfied through the issuance of 496,785 common shares to SOQUEM at a deemed price of approximately US$1.50 per share.

Table 1. SOQUEM Royalty Portfolio

Property Royalty Commodities Operator
Aquilon 1.0% NSR Au Sirios Resources
Casault 1.0% NSR Au Midland Exploration
Chute-des-Passes 0.5% NSR Ni Canada Silver Cobalt Works
Des Meloizes 3.0% NSR Zn, Ag Generic Gold Corp
Detour Milestone Payment Au Probe Gold
Dileo Nord 1.0% NSR Cu, Mo, Au, Ag Troilus Gold Corp
Duquet 0.75 NSR Zn, Cu, Pb, Au Azimut Exploration Inc.
Eastmain Ouest 0.7% NSR Au Azimut Exploration Inc.
Fancamp 1.5% NSR Au IAMGOLD
Generation Selbaie Bloc 5-6 1.0% NSR Au, Ag Midland Exploration
Generation Selbaie Bloc 7 0.5% NSR Zn Maple Gold Mines / Agnico Eagle
Gîte Fenton 1.0% NSR Au, Mo Cartier Resources Inc
Hazeur 1.0% NSR Au BTM Corporation
Jouvex 1.0% NSR Au Midland Exploration
La Roncière 1.25% NSR Au Imperial Mining Group
Lingwick 1.5% NSR Cu, Zn, Au, Ag Midland Exploration
Monique 0.38% NSR Au Probe Gold
Noyard 1.0% NSR Au Vior
Noyell 1.0% NSR Au, Zn Magna Terra Minerals
Pitt Gold 1.0% NSR Au Duquesne Gold Mines (First Mining)
Quévillon Nord 1.0-2.0% NSR Ag Osisko Mining
Verneuil 0.5% NSR Au Vior

About Gold Royalty Corp.

Gold Royalty Corp. is a gold-focused royalty company offering creative financing solutions to the metals and mining industry. Its mission is to acquire royalties, streams and similar interests at varying stages of the mine life cycle to build a balanced portfolio offering near, medium and longer-term attractive returns for its investors. Gold Royalty's diversified portfolio currently consists primarily of net smelter return royalties on gold properties located in the Americas.

For additional information, please contact:

Gold Royalty Corp.

Telephone: (833) 396-3066
Email: [email protected]