EXPLORATION (listed alphabetically by country)
Property Location Ownership Royalty Rate
MarthaArgentina Patagonia Gold Corporation 2.0% NSR (gold and silver) 
Mina Cancha Argentina Pan American Silver 2.50% NSR
Abbotts Australia New Murchison Gold Limited 1.5% NSR
Cheritons Find Australia Shandong Tianye Group 1.5% NSR
Chesterfield Australia Tanzi Pty Ltd 1.5% NSR
CosmosAustralia IGO Limited 1.5% NSR (all metals other than gold); $10 per ounce (gold) 
Croesus Australia Zijin MiningGroup A$1.25/tonne 1
Edna May Australia Ramelius Resources 0.5% GSR
Fisher East Australia Cannon Resources Limited A$5.00/oz 2 
Forrestania Australia IGO Limited 1.5% NSR 3
Lounge Lizard Australia IGO Limited 1.5% NSR 4
Merlin Orbit Australia Lucapa Diamond Company 1.0% GV
Mt Newman-Victory Australia Genesis Minerals 1.5% NSR
Northwell Chilkoot Australia Northern Star 2.5% to 4.0% GV 5
Red Hill West Australia API Management 2.5% NSR
Southern Cross Nickel Australia IGO Limited 1.5% NSR 6
Stakewell Australia Diversified Asset Holdings 1.5% NSR
Wembley Durack Australia Westgold Resources Limited 1.0% NSR 
West Wyalong Australia Argent Minerals Limited/Golden Cross Resources Limited 2.5% NSR
Ashmore Canada Quaternary Mining & Exploration 1.5% NSR
Black Lake Canada Heritage Mining Ltd..(51%)/Stillwater Critical Minerals (49%) 1.0% NSR
Cameron Gold Canada First Mining Gold Corp. 1.0% NSR 7
Carswell Lake Canada Orano Canada Inc./Capstone Copper Corp. 5.0% NSR
CochenourCanada Evolution Mining 5.0% NPI 
Gauthier Canada Agnico Eagle 3.0% NSR
Godfrey II Canada STLLR Gold Inc. 2.0% NSR
Gold Dome Canada Victoria Gold Inc. 2.0% NSR 8
Golden Bear Canada Newmont 2.0% NSR
Kizmet Canada Centerra Gold 1.0% NSR 9
McKenzie Red Lake Canada Evolution Mining 1.0% NSR
ML Project Canada Prospector Metals Corp. 2.0% NSR
Monument Canada Equity Metals/Archon Minerals 1.0% GV
Moore Lake Canada Skyharbour Resources 2.5% NSR 10
Nighthawk Lake Canada Imperial Metals/
Rainy Mountain/
Thunder Gold		 2.5% NSR 11
Northgate Canada Argo Resources Inc. 1.0% NSR
Pickle Lake #2 Canada PC Gold Inc. 1.0% NSR
Red Lake Canada Evolution Mining Limited 1.0% NSR
TAK Canada Doug McDonald 5.0% NSR 12
Voisey's Bay Diamonds Canada Vale 3.0% GV
San Jeronimo Mexico Newmont 2.0% NSR
Ambrosia Lake United States Rio Algom Mining 2.0% NVR
Apex United States Teck/Pennaroya Utah 3.0% NSR 13
Buckhorn South United States Barrick 15.0% NPI 14
14.0% NPI 14
FAD Property United States i-80 Gold Corp.. 3.0% NSR 
Gold Hill United StatesKinross Gold Corporation0.6% to 0.9% sliding-scale NSR15
Hona, Eagle and Triple Z United States Contango ORE, Inc. 3.0% NSR
Horse Mountain United States Barrick 0.25% NVR
Hot Pot United States Pediment Gold, LLC 1.25% NSR
Paiute United States McEwen Mining Inc. 0.75% NSR
Keystone United States Holy Terror Mining Company 2.0% NSR
McDonald-Keep Cool United States Newmont 3.0% NSR
Mule Canyon United States Newmont 5.0% NSR
Nevada Properties United States Evolution Mining Limited 2.5% NSR
Oro Blanco United States Pan American Silver 3.0% NSR
Pinson - Other United States Barrick 0.489% to 5.979% NSR 16
Rye United States Barrick 0.5% NSR
San Rafael United States Rio Grande Resources 2.0% NVR
Simon Creek United States Barrick 1.0% NSR
Trenton Canyon United States SSR Mining 2.4% GSR 17
8.0% NPI 17
Troy United States Hecla Mining 3.0% GSR
Windfall United States McEwen Mining Inc. 4.0% NSR
Wood Gulch United States Barrick 5.0% NSR
  1. Croesus royalty paid on dollars per tonne of ore above 50,000 tonnes up to 500,000 tonnes.
  2. Fisher East royalty is capped at 500,000 ounces.
  3. Forrestania royalty is payable on gold only.
  4. Lounge Lizard royalty is payable on gold only.
  5. Northwell Chilkoot royalty is 2.5% at grades above 1.5 g/t or 4.0% for grades at 1.5 g/t or less.
  6. Southern Cross Nickel royalty payable on all minerals, except nickel or any by-products in whatever form or state.
  7. Cameron Gold operator has the option to purchase 0.25% of the 1.0% NSR at any time for CDN$250,000.
  8. Gold Dome operator has the option to purchase 1% of the 2% NSR for $3 million.
  9. Kizmet operator has the option to purchase the entire 1.0% NSR for $1 million prior to the development of a mine on the property.
  10. Moore Lake operator has the option to purchase 1.25% of the 2.5% NSR for $1 million at any time prior to a production decision or within 30 days thereafter.
  11. Nighthawk Lake operator may purchase 1.5% of the 2.5% NSR at any time for CDN$1.5 million.
  12. TAK operator has the right to purchase 2.5% of the 5.0% NSR at any time for $1 million.
  13. Apex royalty is capped at $1 million.
  14. Buckhorn South's 15.0% NPI and the 14.0% NPI apply to different claims on the property.
  15. Gold Hill royalty is based on sliding scale, which caps at 0.9% at gold prices above $400 per ounce.
  16. Pinson-Other royalty rate varies depending on pre-existing royalties (max of 6.0%).
  17. Trenton Canyon's 2.4% GSR applies to production from the properties from which greater than 60% of the revenues are projected to be derived from gold and silver. The 8.0% NPI applies to production from the properties from which less than 60% of the revenues are projected to be derived from gold and silver.