Sailfish Announces Normal Course Issuer Bid and Closes the Conversion of Gavilanes into a 2% NSR

Core Viewpoint - Sailfish Royalty Corp. has announced a Normal Course Issuer Bid to repurchase up to 3,767,749 common shares, representing approximately 5% of the total shares outstanding, and has completed the conversion of Gavilanes into a 2% net smelter return royalty (NSR) [1][2][6]. Group 1: Normal Course Issuer Bid - The Company intends to purchase up to 3,767,749 common shares during the 12-month period from August 12, 2025, to August 11, 2026 [2]. - The shares will be acquired at the prevailing market price, with the actual number and timing of purchases determined by management [3]. - All purchases will be made on the open market for cancellation, funded from the Company's working capital [4]. Group 2: Prior Issuer Bid - The previous Normal Course Issuer Bid ran from July 22, 2024, to July 21, 2025, during which the Company repurchased 1,400,200 common shares at an average price of approximately $1.4759 per share [5]. Group 3: Strategic Rationale - The Board of Directors believes that the current market prices do not reflect the underlying value of the shares, and repurchasing shares is seen as a beneficial use of corporate funds [6]. Group 4: Gavilanes Silver Project - The Company has completed the sale of Swordfish Silver Corp. to Advance Metals Limited, which includes the Gavilanes silver exploration project in Durango, Mexico [8]. - The transaction includes a minimum expenditure commitment of $2,000,000 on the property over five years, with a potential cash payment of $500,000 if the commitment is not met [11]. Group 5: OTCQB Listing - To reduce corporate costs, the Company will transition from the OTCQX market to the OTCBQ market effective August 28, 2025 [12]. Group 6: Company Overview - Sailfish is a precious metals royalty and streaming company with key assets including a 3% NSR on the San Albino gold mine in Nicaragua, a 3% NSR on the Spring Valley gold mine in Nevada, and a 2% NSR on the Gavilanes Silver Project [13].