Gold Royalty Reports Record Revenue in the Second Quarter 2025

VANCOUVER, BC, July 24, 2025 /PRNewswire/ - Gold Royalty Corp. ("Gold Royalty" or the "Company") (NYSE:GROY) is pleased to announce its preliminary results for the second quarter of 2025, and details of its quarterly filings and related earnings call. All amounts are expressed in U.S. dollars.

Preliminary Second Quarter 2025 Results

Gold Royalty has achieved record revenue, and Total Revenue, Land Agreement Proceeds and Interest* for both the second quarter and first half of 2025. Total Revenue, Land Agreement Proceeds and Interest* in the second quarter of 2025 increased by approximately 100% to $4.4 million (revenue of $3.8 million) from the second quarter of 2024, equating to 1,346 gold equivalent ounces ("GEOs")*. For the first half of 2025, Total Revenue, Land Agreement and Proceeds and Interest also increased by 25% from the same period in 2024 to a record $8.0 million (revenue of $6.9 million), equating to 2,595 GEOs.

Further growth in revenue is currently expected through 2025, driven by strong commodity prices supporting the Company's cash flowing royalties at Canadian Malartic, Côté, Borborema, Cozamin and Borden (Porcupine) and the Vareš copper stream.Gold Royalty maintains its 2025 full-year production guidance 5,700 - 7,000 GEOs as released on March 20, 2025, and expects that production will be more heavily weighted to the second half of the year as recently-started mining operations including Côté, Vareš, and Borborema continue to ramp up towards full production run rates through 2025.

* Total Revenue, Land Agreement Proceeds and Interest and GEOs are each non-IFRS financial measures. See "Non-IFRS Measures" below.

Second Quarter 2025 Results and Webcast Details

Gold Royalty plans to release its financial and operating results for the quarter ending June 30, 2025, after-market on Wednesday, August 6, 2025.

A conference call will be held at 10:00 a.m. ET (7:00 a.m. PT) on Thursday, August 7, 2025, to discuss these results. To participate, please use one of the following methods:

Webinar: Click Here US (toll-free): 1-866-652-5200Canada (toll-free): 1-855-669-9657International: 1-412-317-6060

The second quarter 2025 results presentation will be available on Gold Royalty's website at www.goldroyalty.com and a replay of the event will be available following the presentation.

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 invest in high-quality, sustainable, and responsible mining operations to build a diversified portfolio of precious metals royalty and streaming interests that generate superior long-term returns for our shareholders. Gold Royalty's diversified portfolio currently consists primarily of net smelter return royalties on gold properties located in the Americas.

Forward-Looking Statements:

Certain of the information contained in this news release constitutes "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and U.S. securities laws (collectively, "forward-looking statements"), including but not limited to statements regarding: expectations regarding the Company's royalties, the Company's expected GEOs for 2025 and commodities prices. Such statements can be generally identified by the use of terms such as "may", "will", "expect", "intend", "believe", "plans", "anticipate" or similar terms. Forward-looking statements are based upon certain assumptions and other important factors, including assumptions of management regarding the accuracy of the disclosure of the operators of the projects underlying the Company's projects, their ability to achieve disclosed plans and targets, macroeconomic conditions, commodity prices, and the Company's ability to finance future growth and acquisitions. Forward-looking statements are subject to a number of risks, uncertainties and other factors which may cause the actual results ...