Press Release Details

Royal Gold, Inc. (NASDAQ: RGLD) (TSX: RGL) announced today that it intends to offer 6.5 million shares of its common stock pursuant to the Company's shelf registration statement filed with the Securities and Exchange Commission and a shelf prospectus filed with certain Canadian Securities regulatory authorities. The Company has granted the underwriters a 30-day option to purchase up to 975,000 additional shares of common stock to cover over-allotments, if any.

Royal Gold intends to use the net proceeds of this offering for general corporate purposes, including to repay debt and to fund acquisitions of additional royalty interests.

HSBC Securities (USA) Inc. is acting as the global coordinator and as the joint book-runner for the offering with Goldman, Sachs & Co. and Scotia Capital (USA) Inc.

This offering may be made only by means of a prospectus and a prospectus supplement. Once filed, copies of the preliminary prospectus supplement and the base shelf prospectus relating to the offering may be obtained by either contacting the following underwriters or by accessing the Securities and Exchange Commission website, www.sec.gov:

In Canada, a copy of the prospectus and prospectus supplement may be obtained from:

This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The securities being offered have not been approved or disapproved by any regulatory authority, nor has any such authority passed upon the accuracy or adequacy of the prospectus supplement, the prospectus or the Company's shelf registration statement. A registration statement relating to the securities has been filed with the Securities and Exchange Commission and became effective upon filing. A preliminary prospectus supplement relating to the offering has been filed with the Securities and Exchange Commission. A shelf prospectus has been filed with the securities regulatory authorities in certain provinces in Canada and a preliminary prospectus supplement will be filed with such regulatory authorities.

CORPORATE PROFILE

Royal Gold is a precious metals royalty company engaged in the acquisition and management of precious metal royalty interests. The Company owns royalties on 189 properties on sixcontinents, including royalties on 32 producing mines and 24 development stage projects. Royal Gold is publicly traded on the NASDAQ Global Select Market under the symbol "RGLD" and on the Toronto Stock Exchange under the symbol "RGL." The Company's website is located at www.royalgold.com.

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Cautionary 'Safe Harbor' Statement Under the Private Securities Litigation Reform Act of 1995: With the exception of historical matters, the matters discussed in this press release include forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from projections or estimates contained herein. Such forward-looking statements include statements regarding future sales of common stock and the use of proceeds

from such sales. Factors that could cause actual results to differ materially from projections or estimates include, among others, precious metals prices, economic and market conditions, as well as other factors described in our Annual Report on Form 10-K, and other filings with the Securities and Exchange Commission. Most of these factors are beyond the Company's ability to predict or control. The Company disclaims any obligation to update any forward-looking statement made herein. Readers are cautioned not to put undue reliance on forward-looking statements.

Royal Gold, Inc.
Karen Gross, 303-573-6504
Vice President and Corporate Secretary