BASE SHELF PROSPECTUS AND PRELIMINARY PROSPECTUS SUPPLEMENT ACCESSIBLE AND FINAL PROSPECTUS SUPPLEMENT TO BE ACCESSIBLE WITHIN TWO BUSINESS DAYS ON SEDAR+ VANCOUVER, British Columbia, May 28, 2024 (GLOBE NEWSWIRE) -- Gold Royalty Corp. ("Gold Royalty" or the "Company") (NYSE American: GROY) is pleased to announce that it has entered into an agreement with National Bank Financial Inc. and BMO Capital Markets Corp., as joint book-runners, on behalf of a syndicate of underwriters (collectively, the "Underwrite ...

Core Viewpoint - Gold Royalty Corp. has entered into a binding purchase and sale agreement to acquire a copper stream on the Vares Silver Project from OMF Fund III, which is expected to enhance the company's cash flow and revenue significantly. Transaction Details - The acquisition involves a payment of US$50 million, comprising US$45 million in cash and US$5 million through the issuance of 2,906,977 shares of Gold Royalty [2][3]. - The Vares Stream applies to 100% of copper production from the Rupice deposit, with ongoing payments equal to 30% of the LME spot copper price, and an effective payable copper fixed at 24.5% [3]. Production and Financial Expectations - First concentrate production at Vares began in February 2024, with commercial production anticipated in Q4 2024 [3]. - Adriatic Metals plc has provided production guidance of 240-300 kt of ore mined in 2024, with copper grades of 0.5-0.6% [3]. - Future production forecasts include 750-850 kt in 2025 and 800-900 kt in 2026, maintaining copper grades of 0.5-0.7% [3]. Asset Quality and Growth Potential - The Vares Silver Project is characterized by a mine life of 18 years and an attractive operating cost profile, with copper expected to contribute only 2% of life-of-mine revenue [3]. - Studies are in progress to increase annual production rates to 1 million tonnes of ore by 2026, with further exploration opportunities available within the existing concessions [3]. Strategic Alignment - The operating team at Adriatic is highly experienced, with recent initiatives improving productivity and supporting the timeline for commercial production [3][4]. - The acquisition aligns with Gold Royalty's strategy to diversify its portfolio, which is predominantly focused on precious metals, by adding copper exposure amid record copper prices [4]. Project Overview - The Vares Silver Project spans 41 km² and is located near the town of Vares in Bosnia and Herzegovina, representing one of the largest investments in the region [5]. - The project is expected to produce silver and zinc primarily, along with smaller quantities of lead, gold, copper, and antimony [6]. Processing and Production Capacity - The Vares Processing Plant has a nominal capacity of 800,000 tonnes per annum, utilizing advanced technology for processing [7]. - The plant is designed to produce silver-lead and zinc concentrates, which will be transported for shipment to smelters [7]. Funding for the Transaction - The acquisition will be funded through an equity offering and borrowings under an expanded revolving credit facility, which has been increased by US$5 million [13].

Exhibit 99.1 GOLD ROYALTY CORP. NOTICE OF ANNUAL GENERAL MEETING AND MANAGEMENT INFORMATION CIRCULAR Date and Time: June 11, 2024 at 8:00 a.m. (Vancouver time) Place: Suite 1830, 1188 West Georgia Street Vancouver, British Columbia, Canada May 10, 2024 These materials are important and require your immediate attention. They require shareholders of Gold Royalty Corp. to make important decisions. If you are in doubt as to how to make such decisions, please contact your financial, legal or other professional a ...

Financial Data and Key Metrics Changes - The company reported total revenue of $4.2 million in Q1 2024, representing a 112% increase from Q1 2023, achieving about 40% of the full-year guidance in the first quarter alone [14][21][23] - Cash operating expenses decreased by 10% compared to the first quarter of the previous year, contributing to the first positive cash flow from operations of $0.3 million [16][22][23] - The company expects total revenue guidance for the full year to be between $10 million and $11.2 million [14] Business Line Data and Key Metrics Changes - The revenue growth was driven by the acquisition of Borborema and Cozamin, with significant contributions from Canadian Malartic [12][20] - The company has over 240 royalties, including royalties on three of the five largest producing gold mines in North America, indicating a strong portfolio quality [11][12] Market Data and Key Metrics Changes - The gold price has increased approximately 14% to 15% in 2024, while the company's share price has risen nearly 30% [10][63] - The average gold price in Q1 was around $2,070 per ounce, which is expected to positively impact royalty-related revenue [81] Company Strategy and Development Direction - The company aims to leverage its royalty model to avoid cost inflation pressures faced by producers, focusing on high-quality assets and strategic partnerships [9][18] - The strategic partnership with Taurus allows the company to co-invest in larger royalty opportunities, enhancing its growth potential [18][82] Management's Comments on Operating Environment and Future Outlook - Management highlighted the limited response of gold valuations on the equity side despite rising gold prices, indicating a potential opportunity for the company [8][9] - The company anticipates a compounded annual growth rate of 60% through the end of the decade, driven by major operations and new acquisitions [13][25] Other Important Information - The company has a strong jurisdictional profile, with over 80% of its business in Quebec, Ontario, and Nevada, partnering with leading operators [29] - The company is focused on maintaining a disciplined cost management strategy while continuing to grow its revenue [22][67] Q&A Session Summary Question: What are the top strategies for GROY in the next three years? - The company has demonstrated the ability to execute project financings accretively, leveraging relationships to secure exclusive opportunities [51] Question: Does the company look for deals in copper and silver? - The company remains focused on gold but is open to opportunities in copper and silver, particularly after acquiring Cozamin [53] Question: What is the likelihood of Wallbridge becoming a significant asset for GROY? - Wallbridge is seen as a promising asset, but its advancement depends on capital access, which is a challenge for early-stage exploration companies [60] Question: Can you provide insights on the M&A environment? - The current M&A environment shows increased activity among larger producers needing to replace declining reserves, while juniors are becoming more desperate for capital, presenting opportunities for the company [65][72] Question: How does the company plan to minimize expenses amid rising inflation? - The company can control costs effectively without needing to expand its team, allowing for margin growth as revenue increases [67][73] Question: When might the company reinstate a dividend? - The company is exploring options for returning capital to shareholders as it achieves sustainable free cash flow [68][75] Question: What are the primary drivers of revenue for the remainder of 2024? - Key revenue drivers include the Cote mine coming online in the second half of 2024 and continued growth from Borborema, Cozamin, and Canadian Malartic [81]

Core Insights - Gold Royalty Corp. achieved record revenue of $2.9 million for Q1 2024, a 112% increase compared to Q1 2023, driven by acquisitions and increased royalty payments [5][3] - The company reported its first positive operating cash flow of $0.3 million, marking a significant milestone in its financial performance [5][2] - The outlook for continued revenue growth is supported by high gold prices and the ramp-up of the Côté Gold Mine expected in the second half of 2024 [2][24] Financial Performance - Revenue for Q1 2024 was $2,894,000, compared to $767,000 in Q1 2023 [3] - General, administrative, and project evaluation costs decreased to $2,875,000 from $3,424,000 year-over-year [3] - The net loss narrowed to $1,405,000 in Q1 2024 from $3,083,000 in Q1 2023, with net loss per share improving to $(0.01) from $(0.02) [3][5] Revenue Breakdown - Total Revenue, Land Agreement Proceeds, and Interest for Q1 2024 reached $4,185,000, up from $1,970,000 in Q1 2023 [3][39] - The company generated 2,019 Gold Equivalent Ounces (GEOs) in Q1 2024, compared to 1,043 GEOs in the same period last year [3][38] - Cash Operating Expenses decreased by 10% to $2,260,000 from $2,523,000 in Q1 2023 [5][40] Strategic Developments - A strategic alliance was formed with Taurus Mining Royalty Fund L.P. to enhance deal origination and competitiveness for high-quality investments [6] - Key development projects include the Côté Gold Mine, which is ramping up towards commercial production, and the Odyssey Mine, which is ahead of schedule in its underground development [11][8] Future Outlook - The company anticipates producing between 5,000 and 5,600 GEOs in 2024, translating to projected revenues of approximately $10.0 million to $11.2 million at a gold price of $2,000 per ounce [24][25] - Continued positive cash flow is expected as growth projects come online, including contributions from the recently acquired Cozamin and Borborema royalties [25][24]

VANCOUVER, BC, April 24, 2024 /PRNewswire/ - Gold Royalty Corp. ("Gold Royalty" or the "Company") (NYSE American: GROY) is pleased to announce it has entered into a three-year mutual cooperation agreement with Taurus Mining Royalty Fund L.P. ("Taurus") that provides each party the ability to coinvest in certain precious metals royalties and streams sourced by the other party. The agreement provides a framework for cooperation and communication amongst the parties in the identification and evaluation of pote ...

First Quarter Results to be Released on May 13, 2024 VANCOUVER, BC, April 22, 2024 /PRNewswire/ - Gold Royalty Corp. ("Gold Royalty" or the "Company") (NYSE American: GROY) is pleased to announce record quarterly Total Revenue, Land Agreement Proceeds and Interest*, driven by the Company's cornerstone royalties, recent royalty acquisitions and its unique royalty generator model. All amounts are expressed in U.S. dollars unless otherwise noted. Preliminary Q1 2024 Results Gold Royalty recorded Total Revenu ...

VANCOUVER, BC, April 20, 2024 /PRNewswire/ - Gold Royalty Corp. ("Gold Royalty" or the "Company") (NYSE American: GROY) announced today that Glenn Mullan has stepped down as a director of the Company.  About Gold Royalty Corp. Gold Royalty Corp. is a gold-focused royalty company offering creative financing solutions to the metals and mining industry. Its mission is to invest in high-quality, sustainable, and responsible mining operations to build a diversified portfolio of precious metals royalty and stream ...

VANCOUVER, BC, April 1, 2024 /PRNewswire/ - Gold Royalty Corp. ("Gold Royalty" or the "Company") (NYSE American: GROY) is pleased to announce that IAMGOLD Corporation ("IAMGOLD") has completed its first gold pour at the Côté Gold Mine ("Côté Gold" or "Côté"), located in Ontario, Canada. Gold Royalty holds a 0.75% net smelter return ("NSR") royalty over the southern portion of the mine, which is expected to be incorporated into phase I of the mine plan. David Garofalo, Chairman and CEO of Gold Royalty, comme ...

Cautionary Note Regarding Forward-Looking Statements goldroyalty.com / NYSE: GROY 1 Technical Information 2 0 20 40 60 80 100 120 140 160 180 0 500 1,000 1,500 2,000 2,500 3,000 1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 2020 VanEck GDXJ Index (US$) Gold Price (US$/oz) Gold (Inflation Adjusted) Gold (Nominal) GDXJ Continued Growth Driven by Recent Acquisitions • Positive Operating Cash Flow expected in 2024. • Cash Operating Expenses* of $8.0 million in 2023 were 36% lower than the prior year. • All ...