|EVALUATION 1 (listed alphabetically by country)||As of July 31, 2020|
|Avebury||Australia||Dundas Mining||2.0% NSR|
|Bell Creek||Australia||Australian Mines||A$1.00 to A$2.00/tonne 2|
|Bellevue||Australia||Golden Spur||2.0% NSR|
|Burnakura||Australia||Monument Mining||1.5% to 2.5% NSR 3|
|Celtic/Wonder North||Australia||Saracen||1.5% NSR|
|Kundip||Australia||ACH Minerals||1.0% to 1.5% GV 4|
|Meekatharra - Sabbath||Australia||Westgold Resources||A$1.00/tonne 5|
|Mt. Fisher||Australia||Rox Resources||A$5.00/oz 6|
|Mt. Goode (Cosmos)||Australia||Western Areas||1.5% NSR (nickel)|
|Paddington||Australia||Zijin Mining Group||1.75% NSR|
|Quinns Austin||Australia||CNN Investments||1.5% NSR|
|Red Dam||Australia||Evolution Mining||2.5% GSR (gold); 2.5% NSR (silver)|
|Temora||Australia||Sandfire Resources||12.5% NPI|
|Ulysses||Australia||Genesis Minerals||1.5% NSR|
|Van Uden Gold Deposit||Australia||Wesfarmers Limited/Shandong Tianye||1.5% NSR|
|Westmoreland||Australia||Laramide Resources||1.0% NSR|
|Yundamindra||Australia||Nex Metals||1.5% NSR|
|Castelo de Sonhos||Brazil||TriStar Gold||1.5% NSR|
|Barraute (Swanson)||Canada||Monarques Gold||1.0% or 2.0% NSR 7|
|Berg||Canada||Centerra Gold||1.0% NSR|
|Bronson Slope||Canada||Seabridge Gold||1.0% NSR|
|Follansbee||Canada||Newmont/Premier Gold||2.0% NSR|
|Gold River||Canada||Pan American Silver||1.5% NSR|
|High Lake||Canada||MMG Limited||1.5% NSR|
|Horizon Coal||Canada||Anglo American||0.50% GV (coal)|
|Hushamu||Canada||NorthIsle Copper and Gold||10.0% NPI|
|Phoenix Gold||Canada||Battle North Gold||1.0% NSR|
|Schaft Creek||Canada||Copper Fox/Teck||3.5% NPI|
|Ulu||Canada||Blue Star Gold||5.0% NSR 8|
|Wolverine||Canada||Yukon Zinc||0.0% to 9.445% NSR 9|
|Alturas||Chile||Barrick||1.06% NSR (Au); 1.59% NSR (Cu)|
|Pascua-Lama||Chile||Barrick||0.78% to 5.45% NSR(Au) 10, 11; 1.09% NSR(Cu) 12|
|Kubi Village||Ghana||Asante Gold||3.0% NPI|
|Tambor||Guatemala||Kappes, Cassiday & Associates||4.0% NSR|
|Nieves||Mexico||Blackberry Ventures||2.0% NSR|
|Fedorova||Russia||Fedorovo Holding LLC||0.75% or 1.0% NSR
1.25% or 1.5% NSR 13
|Almaden||United States||GoldMining Inc.||1.0% to 2.0% NSR 14|
|Goldrush||United States||Nevada Gold Mines LLC||1.0% NVR|
|Island Mountain||United States||Tuvera Exploration||2.0% NSR|
|Johnson Camp||United States||Excelsior Mining||2.5% NSR|
|La Jara Mesa||United States||Laramide Resources||$0.25/lb (uranium) 15|
|Long Valley||United States||Kore Mining||1.0% NSR|
|Niblack||United States||Heatherdale Resources||1.0% to 3.0% NSR 16|
|Rock Creek||United States||Hecla Mining||1.0% NSR|
|San Juan Silver (Bulldog)||United States||Hecla Mining||3.0% NSR 17
1.0% NSR 17
|Peak Gold Project||United States||Peak Gold||2.0% or 3.0% NSR 18|
|Wildcat||United States||Clover Nevada LLC||1.0% NSR 19
1.0% to 2.0% NSR 20
Royal Gold considers and categorizes an exploration stage property to be an “evaluation stage” property if mineralized material has been identified on the property but reserves have yet to be identified. The U.S. Securities and Exchange Commission does not recognize the term “mineralized material.” Investors are cautioned not to assume that any part or all of the mineralized material identified on these properties will ever be converted into reserves.
- The royalty is A$1.00 per tonne on the first 5 million tonnes of production; A$2.00 per tonne thereafter.
- The 1.5% to 2.5% NSR sliding-scale royalty pays at a rate of 1.5% for the first 75,000 ounces produced in any 12 month period and at a rate of 2.5% on production above 75,000 ounces during that 12 month period.
- The royalty rate is 1.0% until 250,000 ounces of gold has been produced, 1.5% thereafter.
- Royalty applies on production above 10,000 ounces.
- Royalty is capped at 500,000 ounces.
- Royalty rate is 1.0% on Exploration claims and 2.0% on Gold claims. The 2.0% royalty on Gold claims has a 50% buy back for $1 million.
- Royalty applies to production above 675,000 ounces.
- Gold royalty rate is based on the price of silver per ounce. NSR sliding-scale schedule (price of silver per ounce - royalty rate): Below $5.00 - 0.0%; $5.00 to $7.00 - 3.778%; above $7.50 - 9.445%.
- Royalty applies to all gold production from an area of interest in Chile. Approximately 20% of the royalty is limited to the first 14.0 million ounces of gold produced from the project. Also, 24% of the royalty can be extended beyond 14.0 million ounces produced for $4.4 million. In addition, a one-time payment totaling $8.4 million will be made if gold prices exceed $600 per ounce for any six-month period within the first 36 months of commercial production.
- NSR sliding-scale schedule (price of gold per ounce - royalty rate): less than or equal to $325 - 0.78%; $400 - 1.57%; $500 - 2.72%; $600 - 3.56%; $700 - 4.39%; greater or equal to $800 - 5.23%. Royalty is interpolated between lower and upper production endpoints.
- Royalty applies to all copper production from an area of interest in Chile.
- The 0.75% NSR royalty applies to gold and silver and the 1.0% NSR royalty applies to platinum group elements, copper and nickel. The 0.5% NSR royalty applies to gold, silver, platinum group elements, copper and nickel. The 1.25% NSR royalty applies to gold and silver and the 1.5% NSR royalty applies to platinum group elements, copper and nickel. These royalties become payable on commercial production once capital repayment has been made at the project.
- A $325,000 payment is due upon production of the first 100,000 ounces. Once production reaches 200,000 ounces, the royalty begins paying at the following rate schedule (price of gold per ounce – royalty rate): $0.00 to $425 – 1.0%; $425 and above – 2.0%.
- Royalty is payable on per pound of uranium produced above eight million pounds.
- Royalty rate is 1.0% for each ton of ore having a value of less than $115 per ton; 2.0% for each ton of ore having a value between $115 and $135 per ton; and 3.0% for each ton of ore having a value greater than $135 per ton.
- Royalty rate is 3.0% on Homestake and Emerald unpatented claims; 1.0% on Emerald patented claims.
- Royalty rate depends on the claim group.
- The 1.0% royalty rate applies to the SS lode claims only.
- An additional 1.0% NSR applies to gold production between 500,000 ounces and 1.0 million ounces. The royalty increases to a 2.0% NSR on production in excess of 1.0 million ounces. This royalty applies to various claims on the mining property.