Operator: Red 5 Limited

Location: Western Australia, Australia

Royalty: 1.5% NSR (all metals)

Term of Royalty: Life of Mine

King of the Hills (“KOTH”) is an underground and open-pit gold mine, owned by Red 5 Limited (“Red 5”). KOTH is located in the Eastern Goldfields of Western Australia, approximately 80 kilometers south of Red 5’s Darlot Gold Mine and 28 kilometers north of the town of Leonora.

Red 5 established the new KOTH Processing Hub in 2022, with a new 4.7 million tonne per annum process plant being fed by open-pit and underground mines at KOTH, and an underground satellite mine at Darlot.

The KOTH carbon-in-leach (CIL) plant was completed on time and on budget in June 2022, achieved full production in September, and declared commercial production in December 2022.