Royal Gold Resolves Voisey’s Bay Royalty Dispute - Seite 2

On June 11, 2018, Vale announced it will recommence the $1.7 billion development of an underground mine and associated facilities, which is expected to extend the Voisey’s Bay mine life until 2034. Vale expects the underground mine to begin production in 2021 and to ramp up over four years, while the current open pit mining in the Ovoid deposit is expected to continue until 2022. Vale estimates Voisey's Bay mineral reserves at 32.4 million tonnes with a nickel grade of 2.13%, a copper grade of 0.96%, and a cobalt grade of 0.13% as of December 31, 2017.

Royal Gold is a precious metals stream and royalty company engaged in the acquisition and management of precious metal streams, royalties, and similar production-based interests. As of September 1, 2018, the Company owns interests on 191 properties on six continents, including interests on 40 producing mines and 18 development stage projects. Royal Gold is publicly traded on the Nasdaq Global Select Market under the symbol “RGLD.” The Company’s website is located at www.royalgold.com.

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 are 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 about expectations that the Company’s 3% royalty on production from Vale’s Voisey’s Bay mine will apply to approximately 50% of the gross metal value in the concentrates at existing nickel, copper and cobalt prices, the increase or decrease in the percentage of gross metal value in the concentrates applicable to the royalty as metal prices rise or fall, the expectation that resolution of the dispute resolves all claims by agreeing on a prospective calculation and secures the Company’s participation in the underground mine life extension, the Company’s expectation for a steady quarterly flow of revenue from the Voisey’s Bay mine, the design capacity of, expected future production from, and feed sources to Vale’s Long Harbour Processing Plant, the timing for recommencement of development and commencement of production from an underground mine and associated facilities at Voisey’s Bay, the expectation that the underground mine will extend the Voisey’s Bay mine life until 2034, production from the Ovoid deposit, and estimates of Voisey’s Bay reserves.