VANCOUVER, BC, Nov. 5, 2025 /PRNewswire/ – Gold Royalty Corp. (“Gold Royalty” or the “Company“) (NYSE American: GROY) is happy to announce the submitting of its running and monetary effects for the 3 and 9 months ended September 30, 2025. All quantities are expressed in U.S. greenbacks except another way famous.

David Garofalo, Chairman and CEO of Gold Royalty, commented: “The continued ramp-up of our portfolio, with new mines entering production, has delivered another quarter of record revenue and record Total Revenue, Land Agreement Proceeds and Interest. With positive cash flow and additional proceeds from warrant exercises, we have further reduced debt, lowered interest costs, and strengthened our balance sheet. Our disciplined approach keeps us on track to continue using cash generated from operations to de-lever throughout 2026.”

3rd Quarter 2025 Effects Highlights:

• Report earnings of $4.1 million and General Income, Land Commitment Proceeds and Passion* of $4.6 million from 1,323 gold identical oz (GEOs)*within the quarter.
• Report Adjusted EBITDA* of $2.5 million and file certain coins current from operations of $2.4 million within the quarter.
• Accountable capital allocation. Gold Royalty repaid $2.0 million to our current revolving credit score facility within the 0.33 quarter and has repad an extra $5 million to the ability next to quarter finish. We think to proceed the usage of coins generated from operations to de-lever during 2026.

3rd Quarter 2025 Effects Abstract:

Please see desk units forth decided on monetary and running knowledge for the 3 and 9 months ended September 30, 2025 and 2024.

For additional vivid knowledge, please please see the Corporate’s unaudited condensed intervening time consolidated monetary statements and control’s dialogue and research for the 3 and 9 months ended September 30, 2025, copies of which can be to be had beneath the Corporate’s profile at www.sedarplus.ca and www.sec.gov.

Portfolio Replace:

Borborema undertaking (2.0% NSR): On September 23, 2025, Air of secrecy Minerals (“Aura“) introduced that industrial manufacturing were completed within the 0.33 quarter, on time table. On October 10, 2025, Air of secrecy disclosed that overall manufacturing for the 3 months ended September 30, 2025, at Borborema totaled 10,219 gold identical oz. For additional knowledge see Air of secrecy’s information releases dated September 23, 2025 and October 10, 2025, to be had beneath its profile on www.sedarplus.ca.

Borden mine (0.5% NSR, partiality royalty protection): On August 12, 2025, Discovery Silver Corp. (“Discovery“) exempt its 2d quarter 2025 effects, highlighting quarterly manufacturing from Borden of 27,286 oz of gold at a median grade of five.62 g/t gold and a 90.6% fix. Discovery additionally defined the exploration program focused on near-mine and regional extensions, with useful resource conversion drilling deliberate throughout Hoyle Puddle, Borden, and Pamour. For additional knowledge see Discovery’s information releases dated August 12, 2025, to be had beneath its profile on www.sedarplus.ca.

Canadian Malartic / Odyssey mine (3.0% NSR, partiality royalty protection): On October 29, 2025, in its 0.33 quarter monetary effects, and on its October 30 convention name Agnico Eagle Mines Restricted (“Agnico Eagle“) reported that each underground construction and shaft sinking are continuing forward of time table, and the corporate continues to be expecting preliminary manufacturing in the second one part of 2026. Agnico Eagle has additionally licensed a 70-metre extension to Shaft #1 at intensity. Engineering for this pristine line commenced within the 0.33 quarter of 2025 and the excavation of the second one loading station is now anticipated to start out in early 2026. The extension is predicted to fortify operational flexibility and potency within the early 2030s, shed reliance on truck haulage, and extra liberate important exploration possible at intensity. For additional knowledge see Agnico Eagle’s information drop dated October 29, 2025, to be had beneath its profile on www.sedarplus.ca.

Côté Gold mine (0.75% NSR, partiality royalty protection): On November 4, 2025, IAMGOLD exempt its 0.33 quarter 2025 effects, highlighting that Côté Gold had produced 106,000 oz on a 100% foundation within the quarter, marking the second one consecutive quarter averaging over 30,000 oz in line with age. IAMGOLD additionally reiterated price steering for Côté Gold with anticipated full-year coins prices of $1,100-$1,200/ouncesand all-in maintaining prices to $1,600-$1,700/ounces. For additional knowledge see IAMGOLD’s information releases dated August 7, 2025, to be had beneath its profile on www.sedarplus.ca.

County Layout undertaking (3% NSR): On September 30, 2025, Fortitude Gold Corp. (“Fortitude Gold“) introduced that it has gained all approvals from the Bureau of Land Control and the Nevada Category of Environmental Coverage to create and function the County Layout undertaking, situated roughly 16 miles northeast of Fortitude Gold’s Isabella Pearl gold mine (0.375% GRR). The operator intends to mine and truck County Layout mineralization to Isabella Pearl, leveraging the present heap leach dwelling and gold processing amenities. For additional knowledge see Fortitude Gold’s information drop dated September 30, 2025, to be had beneath its profile on www.sedarplus.ca.

Cozamin mine (1.0% NSR, partiality royalty protection): On October 30, 2025, Capstone Copper Corp. (“Capstone“) reported copper manufacturing of 6,145 thousand tonnes of copper at Cozamin within the 0.33 quarter 2025, 2% upper than the similar duration of 2024 as mine sequencing ended in upper grades. It said that Cozamin’s copper manufacturing is trending against the higher finish of its in the past disclosed 2025 manufacturing steering of 23,000 to 26,000 tonnes in addition to the decrease finish of prices. Manufacturing is predicted via Capstone to be constantly weighted in the course of the 12 months. For additional knowledge see Capstone’s information drop dated October 30, 2025, to be had beneath its profile on www.sedarplus.ca.

Ren undertaking (1.5% NSR and three.5% NPI): In its control’s dialogue and research for the 3 months ended June 30, 2025, Barrick reiterated its focused manufacturing of 140,000 oz of gold in line with 12 months (100% foundation) in 2027 at Ren. It disclosed that, as at June 30, 2025, undertaking spend was once $115 million (together with $20 million in the second one quarter of 2025) of an estimated capital price of $410 to $470 million (100% foundation). Ren was once additionally highlighted in a Nevada Gold Mines website discuss with, hosted via Barrick on September 18, 2025, the place the operator revealed up to date gold manufacturing forecasts thru 2033 and famous that the Ren month of mine extends year 2040. For additional knowledge see Barrick’s control’s dialogue and research for the 3 months ended June 30, 2025, to be had beneath its profile on www.sedarplus.ca and presentation fabrics dated September 18, 2025 on www.barrick.com.

South Railroad undertaking (0.44% NSR, partiality royalty protection): On August 11, 2025, Orla Mining Ltd. (“Orla“) exempt its 2d quarter 2025 effects highlighting that exploration actions proceed on the South Railroad undertaking with the focal point to extend assets on the Dull Megastar and Pinion deposits, in addition to alternative satellite tv for pc deposits. Exploration actions are anticipated to proceed thru 2025. Orla additionally said that the Understand of Intent is predicted to be revealed in a while nearest the scoop drop, with the corporate focused on a Report of Resolution (“ROD”) roughly 365 days nearest. Following approbation of the ROD, building at the South Railroad undertaking would start, with first gold produced focused for 2028. For additional knowledge see Orla’s information drop dated August 11, 2025, to be had beneath its profile on www.sedarplus.ca.

Tonopah West undertaking (3.0% NSR): On October 27, 2025, Blackrock Silver Corp. introduced the primary assay effects from its Jap Enlargement Drill Program at Tonopah West, a follow-up of the Scout Program that had known robust mineralization as much as 1.2 kilometres east of the stream useful resource segment. The Jap Enlargement Program returned with more than one high-grade intercepts around the drilled segment. Those effects verify the perpetuity of mineralization well past the present bank footprint and spotlight the possibility of additional extensions alongside the jap development of the Tonopah West undertaking. For additional knowledge see Blackrock Silver’s information releases dated October 27, 2025, to be had beneath its profile on www.sedarplus.ca.

Vareš mine (100% copper flow with ongoing bills of 30% of the spot copper worth): On October 9, 2025, DPM Metals Inc. (“DPM“) introduced its initial 0.33 quarter 2025 effects, during which it disclosed that integration actions on the Vareš mine have been progressing smartly and that it expects the operation to reach 850,000 tonnes in line with 12 months running price via the tip of 2026. The disclosure additionally famous that DPM expects minimum manufacturing on the mine for the steadiness of 2025. For additional knowledge see DPM’s announcement dated October 9, 2025, to be had beneath its profile on www.sedarplus.ca.

Royalty Generator Style Replace

Our royalty generator fashion continues to generate certain effects with two pristine royalties added within the 9 months ended September 30, 2025. We have now generated 51 royalties for the reason that acquisition of Ely Gold Royalties Inc. in 2021 thru this fashion.

We lately have 36 houses topic to land guarantees and 6 houses beneath rent producing land word proceeds. The fashion continues to incur low running prices with minimum expenditure spent on keeping up the underlying mineral pursuits within the 9 months ended September 30, 2025.

3rd Quarter 2025 Effects Convention Name Main points

A convention name shall be hung on Thursday, November 6, 2025, founding at 11:00 am ET (8:00 am PT) to speak about those effects. To take part within the reside name, please significance one in all refer to modes:

Webcast: Click Here
US (toll-free): 1-833-890-3060
Canada (toll-free): 1-855-669-9657
Global: 1-412-206-6408

The 0.33 quarter 2025 presentation fabrics shall be to be had on Gold Royalty’s web page at www.goldroyalty.com and a replay of the development shall be to be had following the presentation.

Remarkable Warrants

As of September 30, 2025, the Corporate had 16,935,990 exceptional proportion acquire warrants (the “Warrants“), with every Warrant exercisable right into a ordinary proportion of the Corporate, in line with their phrases, at an workout worth of $2.25 in line with proportion and expiring Would possibly 31, 2027. The Warrants are indexed at the NYSE American beneath the emblem “GROY.WS”. Buyers requiring additional knowledge in regards to the workout in their Warrants will have to touch: (i) if the Warrants are held thru a brokerage account or alternative nominee, such dealer or nominee; and (ii) if the Warrants are held immediately in registered mode, the Warrant agent, Continental Book Switch and Agree with Corporate, via e mail at [email protected] and following the directions prepared forth within the appropriate Warrant certificates. Warrant holders will have to additionally seek the advice of their monetary and tax advisors in regards to the monetary and tax implications appropriate to them previous to exercising Warrants. 

About Gold Royalty Corp.

Gold Royalty Corp. is a gold-focused royalty corporate providing ingenious financing answers to the metals and mining business. Its undertaking is to spend money on fine quality, sustainable, and accountable mining operations to develop a different portfolio of valuable metals royalty and streaming pursuits that generate admirable long-term returns for our shareholders. Gold Royalty’s different portfolio lately is composed basically of web smelter go back royalties on gold houses situated within the Americas.

Certified Individual
Alastair Nonetheless, P.Geo., Director of Technical Products and services of the Corporate, is a “qualified person” as such promise is outlined beneath Canadian Nationwide Tool 43-101 (“NI 43-101“) and has reviewed and licensed the technical knowledge disclosed on this information drop.

Understand to Buyers
For additional knowledge in regards to the undertaking updates referring to houses underlying the Corporate’s royalties, flow and alternative pursuits, please please see the disclosures of the operators thereof, together with the scoop releases referenced herein and the alternative disclosures of such operators. Disclosure in terms of houses wherein Gold Royalty holds pursuits is in accordance with knowledge publicly disclosed via the homeowners or operators of such houses. The Corporate usually has restricted or disagree get right of entry to to the houses underlying its pursuits and is in large part dependent at the disclosure of the operators of its pursuits and alternative publicly to be had knowledge. The Corporate usually has restricted or disagree skill to make sure such knowledge. Despite the fact that the Corporate does no longer have any wisdom that such knowledge might not be correct, there may also be disagree word of honour that such third-party knowledge is whole or correct.

Until another way indicated, the technical and medical disclosure contained or referenced on this information drop, together with any references to mineral assets or mineral reserves, was once ready via the undertaking operators in line with Canadian Nationwide Tool 43-101, which differs considerably from the necessities of the U.S. Securities and Trade Fee appropriate to home issuers. Accordingly, the medical and technical knowledge contained or referenced on this information drop might not be related to alike knowledge made crowd via U.S. corporations topic to the reporting and disclosure necessities of the SEC.

Outlooks introduced herein are together with forecasted GEOs, is in accordance with the crowd forecasts, anticipated construction timelines and alternative disclosure via the homeowners and operators of the houses underlying our pursuits and our evaluate thereof.

Ahead-Having a look Statements:
Positive of the guidelines contained on this information drop constitutes “forward-looking information” and “forward-looking statements” inside the which means of appropriate Canadian and U.S. securities rules (jointly, “forward-looking statements“), together with however no longer restricted to statements referring to: estimated past GEOs, General Revenues and Land Commitment Proceeds, anticipated past coins flows; expectancies in regards to the operations and/or construction of the tasks underlying the Corporate’s royalties, flow and alternative pursuits, together with the estimates of the operators thereof their timing and talent to reach manufacturing; and expectancies in regards to the Corporate’s enlargement and statements in regards to the Corporate’s plans and techniques. Such statements may also be usually known via the significance of phrases similar to “may”, “will”, “expect”, “intend”, “believe”, “plans”, “anticipate” or alike phrases. Ahead-looking statements are founded upon positive suppositions and alternative notable elements, together with suppositions of control in regards to the accuracy of the disclosure of the operators of the tasks underlying the Corporate’s pursuits, their skill to reach disclosed plans and objectives, macroeconomic situations, commodity costs, and the Corporate’s skill to finance past enlargement and acquisitions. Ahead-looking statements are topic to quite a few dangers, uncertainties and alternative elements which would possibly reason the untouched effects to be materially other from the ones expressed or implied via such forward-looking statements together with, amongst others, any incapacity to any incapacity of the operators of the houses underlying the Corporate’s royalties, flow and alternative pursuits to shoot proposed plans for such houses or to completed deliberate construction and manufacturing estimates and targets, dangers alike to the operators of the tasks wherein the Corporate holds pursuits, together with the a hit continuation of operations at such tasks via the ones operators, dangers alike to exploration, construction, allowing, infrastructure, running or technical difficulties on this type of tasks, the affect of macroeconomic trends, the facility of the Corporate to hold out its enlargement plans and alternative elements prepared forth within the Corporate’s Annual Record on Method 20-F for the 12 months ended December 31, 2024, and its alternative publicly filed paperwork beneath its profiles at www.sedarplus.ca and www.sec.gov. Despite the fact that the Corporate has tried to spot notable elements that would reason untouched effects to fluctuate materially from the ones contained in forward-looking statements, there is also alternative elements that reason effects to not be as expected, estimated or supposed. There may also be disagree word of honour that such statements will end up to be correct, as untouched effects and past occasions may fluctuate materially from the ones expected in such statements. Accordingly, readers will have to no longer playground undue reliance on forward-looking statements. The Corporate does no longer adopt to replace any forward-looking statements, excluding in line with appropriate securities rules.

Non-IFRS Measures

We have now incorporated, on this file, positive efficiency measures, together with: (i) General Income, Land Commitment Proceeds and Passion; (ii) Adjusted EBITDA; (iii) Adjusted Web (Loss) Source of revenue and Adjusted Web (Loss) Source of revenue According to Proportion, unadorned and diluted; and (iv) GEOs which can be every non-IFRS measures. The presentation of such non-IFRS measures is meant to grant backup knowledge and will have to no longer be regarded as in isolation or as an alternative to measures of efficiency ready in line with IFRS. Those non-IFRS measures should not have any standardized which means prescribed via IFRS and alternative corporations would possibly calculate those measures otherwise.

General Income, Land Commitment Proceeds and Passion

General Income, Land Commitment Proceeds and Passion are aspiring via including land word proceeds credited towards alternative mineral pursuits and pursuits earned on gold-linked mortgage to overall earnings. We have now incorporated this data as control believes positive traders significance this data to judge our efficiency compared to alternative gold royalty corporations within the valuable steel mining business.

Please see is a reconciliation of General Income, Land Commitment Proceeds and Passion to overall earnings for the sessions indicated:

Adjusted EBITDA

Adjusted EBITDA is aspiring via adjusting web (loss) source of revenue for the have an effect on of: depletion, depreciation, finance prices, stream and deferred tax expense (fix), pastime source of revenue credited towards gold-linked mortgage, transaction alike and non-recurring common and administrative bills⁽²⁾, non-cash share-based reimbursement, proportion of loss (acquire) and dilution loss (acquire) in colleague, trade in honest price of gold-linked mortgage, momentary investments and embedded by-product, foreign currency (acquire) loss, acquire on mortgage amendment and alternative expense (source of revenue). We have now incorporated this data as control believes positive traders significance this data to judge our efficiency compared to alternative gold royalty corporations within the valuable steel mining business. The desk under supplies a reconciliation of web loss (source of revenue) to Adjusted EBITDA.

• Transaction alike and non-recurring common and administrative bills made out of running bills that aren’t anticipated to be incurred on an ongoing foundation. Throughout the 3 and 9 months ended September 30, 2025, transaction alike and non-recurring common and administrative bills basically consisted {of professional} charges alike to implementation of pristine accounting device and analysis of royalty and alternative asset acquisitions.

Adjusted Web (Loss) Source of revenue and Adjusted Web (Loss) Source of revenue According to Proportion, unadorned and diluted

Adjusted Web (Loss) Source of revenue is calculated via adjusting web (loss) source of revenue for the have an effect on of: land word proceeds credited towards alternative mineral pursuits, pastime source of revenue credited towards gold-linked mortgage, accretion of convertible debentures, transaction alike and non-recurring common and administrative bills⁽¹⁾, proportion of loss (acquire) and dilution loss (acquire) in colleague, adjustments in honest price of gold-linked mortgage, momentary investments and embedded by-product, foreign currency (acquire) loss, acquire on mortgage amendment, and alternative expense (source of revenue). Adjusted Web Source of revenue (Loss) According to Proportion, unadorned and diluted, had been aspiring via dividing the Adjusted Web Source of revenue (Loss) via the weighted reasonable choice of ordinary stocks for the appropriate duration. Control believes that they’re helpful measures of efficiency as they modify for pieces which aren’t all the time reflective of the underlying running efficiency of our trade and/or aren’t essentially indicative of past running effects. Please see is a reconciliation of web (loss) source of revenue to Adjusted Web (Loss) Source of revenue, According to Proportion, unadorned and diluted for the sessions indicated:

• Transaction alike and non-recurring common and administrative bills made out of running bills that aren’t anticipated to be incurred on an ongoing foundation. Throughout the 3 and 9 months ended September 30, 2025, transaction alike and non-recurring common and administrative bills basically consisted {of professional} charges alike to implementation of pristine accounting device and analysis of royalty and alternative asset acquisitions.

GEOs

GEOs are aspiring via dividing General Income, Land Commitment Proceeds and Passion via the common gold costs for the appropriate duration:

SOURCE Gold Royalty Corp.