Royal Gold Increases Gold Stream Interest in the Mt. Milligan Project to 52.25%

Royal Gold, Inc. (NASDAQ:RGLD) (TSX:RGL) today announced it has
agreed to acquire, through its wholly-owned subsidiary RGLD Gold AG, an
additional 12.25% of the payable gold produced from the Mt. Milligan
copper-gold project, located in British Columbia, from a subsidiary of
Thompson Creek Metals Company, Inc. ('Thompson Creek?) (NYSE:TC;
TSX:TCM). Consideration for the new transaction is $200 million and cash
payments equal to the lesser of $435 or the prevailing market price for
each payable ounce of gold delivered to Royal Gold (the 'Delivery
Payments?). The structure of the Delivery Payments is unchanged from the
Mt. Milligan transaction announced in December 2011. The new transaction
is subject to the satisfaction of various conditions, including, among
other things, Thompson Creek receiving final approval for an amendment
to its senior secured revolving credit agreement satisfactory to Royal
Gold and approval of the new transaction by the lenders thereunder
within 30 days. Thompson Creek is currently in negotiations with its
lenders to obtain these approvals.

Combined with the prior transactions completed in July 2010 and December
2011, Royal Gold will be entitled to 52.25% of the payable gold produced
from Mt. Milligan for total consideration of $781.5 million and the
Delivery Payments. To date, Royal Gold has paid approximately $454.6
million to Thompson Creek and will pay $75.0 million following closing
of the new transaction and the remaining $251.9 million in five
scheduled quarterly payments commencing on September 1, 2012 and ending
on September 1, 2013.

Tony Jensen, President and Chief Executive Officer, commented, 'We
welcome the opportunity to further support Thompson Creek in the
development of Mt. Milligan. Our view of the project has not changed and
we continue to believe Mt. Milligan is an attractive investment for
Royal Gold, with over two decades of mine life, located in the excellent
host country of Canada.?

The Mt. Milligan project is in an advanced stage of construction, and
Thompson Creek estimates that commercial production will commence in
late calendar 2013. Thompson Creek also reported that as of June 30,
2012, EPCM progress is 99% complete for project engineering, 94%
complete for procurement, 51% complete for construction, and overall
progress is at 69%. Thompson Creek, per a National Instrument 43-101
technical report regarding the Mt. Milligan project filed on SEDAR on
October 13, 2011, has reported that proven and probable reserves total
482 million tonnes (0.20% copper; 0.39 g/t gold), containing 2.1 billion
pounds of copper and 6.0 million ounces of gold. In addition to copper
production, the technical report estimates gold production to be
approximately 262,000 ounces annually during the first six years of
operation and 194,000 ounces annually over the life of the mine.

Thompson Creek is a growing, diversified North American mining company.
In addition to owning 100% of the Mt. Milligan copper-gold project, it
owns the Thompson Creek molybdenum mine and mill in Idaho, a
metallurgical roasting facility in Pennsylvania, and a 75% share of the
Endako mine, mill and roasting facility in northern British Columbia.

Royal Gold is a precious metals royalty company engaged in the
acquisition and management of precious metal royalty and similar
production based interests. The Company owns interests on 193 properties
on six continents, including interests on 39 producing mines and 26
development stage projects. Royal Gold is publicly traded on the NASDAQ
Global Select Market under the symbol 'RGLD? and on the Toronto Stock
Exchange under the symbol 'RGL.? 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 the operator′s estimated
date for initial production, the estimated gold and copper reserves for
the project, the reserve life of the project, and the estimated average
annual production over the first six years and the life of the mine.
Factors that could cause actual results to differ materially from
projections include, among others, precious metals prices, the risks
inherent in construction, development and ramp up of operations of a new
mine at Mt. Milligan by an operator who has not previously operated gold
mines, decisions and activities of the operator of the various
properties, unanticipated grade, geological, metallurgical, processing
or other problems the operator may encounter, changes in project
parameters as plans continue to be refined, economic and market
conditions, operations in land subject to First Nations jurisdiction in
Canada, as well as other factors described elsewhere in this press
release and in our Annual Report on Form 10-K, Quarterly Reports on Form
10-Q, and other filings with the Securities and Exchange Commission. In
addition, acquired royalty interests on certain projects are subject to
risks associated with conducting business in a foreign country,
including application of foreign laws to contract and other disputes,
foreign environmental laws and enforcement and uncertain political and
economic environments. Most of these factors are beyond the Company′s
ability to predict or control. The Company disclaims any obligation to
update any forward-looking statement made herein. Readers are cautioned
not to put undue reliance on forward-looking statements.

Royal Gold, Inc.

Karen Gross

Vice President and
Corporate Secretary

(303) 575-6504