Gold Royalties Corporation Closes Financing

CALGARY, Dec 10, 2013 - Gold Royalties Corporation (TSX VENTURE:GRO) ("Gold Royalties" or "the Corporation") is pleased to announce that it has successfully closed a unit financing (the "Financing") which consisted of 1,960,000 units (the "Gold Royalties Units") at a price of $0.40 per unit for gross proceeds of $784,000.

"We appreciate that the capital markets continue to provide Gold Royalties with additional funding to grow our business. We believe that our emphasis on expanding our gold royalty portfolio in a counter-cyclical manner yields superior long-term rates of return. Notably as our asset class is dilution-free and carried to production, we recognize the common-sense approach of making new gold royalty investments when we can add those acquisitions at low prices of the cycle," stated Ryan Kalt, President and Chief Executive Officer of Gold Royalties.

Gold Royalties anticipates that it will deploy the net proceeds of the Financing to fund its 15th royalty acquisition as announced by way of press release dated October 22, 2013. The Financing was led by Toronto-based Mackie Research Capital Corporation and brings to a successful close the funding announcement made by way of the aforementioned press release.

Each unit issued in the Financing consisted of a common share and a common share warrant exercisable at $0.50 for a period of twenty-four months from date of closing. In association with the Financing, Gold Royalties paid cash commission of 6.5% on certain units and brokers warrants equal to 6.5% on certain units. Gold Royalties paid a 1% corporate finance advisory fee on the gross proceeds of the Financing. An officer/director of Gold Royalties participated in the Financing. The Financing closed December 9, 2013 with an effective date of December 6, 2013 and is subject to final acceptance by the TSX Venture Exchange (the "TSXV").


About Gold Royalties Corporation

Gold Royalties Corp. is a publicly traded, growth-orientated gold royalty business that acquires and holds mining royalty assets for investment purposes. The company acquires small-to-mid tier net smelter return and metal stream royalties, with a focus on gold royalties, located in stable jurisdictions. For more information, please visit www.GoldRoyalties.ca.


Forward-Looking Statements

This news release contains certain forward-looking information and statements within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends", "confident", "might" and similar expressions are intended to identify forward-looking information or statements. The forward-looking information and statements included in this news release are not guarantees of future performance and should not be unduly relied upon. Forward-looking statements are based on current expectations, estimates and projections that involve a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated and described in the forward-looking statements. The forward-looking information and statements contained in this news release speak only as of the date of this news release, and the Corporation assumes no obligation to publicly update or revise such information or statements to reflect new events or circumstances, except as may be required pursuant to applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.



Contact

Gold Royalties Corp.
Ryan Kalt, M.B.A., LL.M., President and Chief Executive Officer
1-403-410-3815
info@goldroyalties.ca
www.GoldRoyalties.ca