Royalty Overview

The Borden royalty was acquired by Gold Royalty in August 2021, through the acquisition of Ely Gold Royalties. The 0.5% NSR covers several unpatented claims including a claim over the southeast portion of the Borden underground mine workings. The Royalty also covers prospective land between one and three kilometers to the northwest of the Borden Mine. Please see the royalty coverage map in the photo gallery for the location of the Borden underground mine workings relative to the Company’s Royalty coverage.

Project Overview

The Borden Mine is located near Chapleau, Ontario as part of the larger Porcupine complex near Timmins. It is owned and operated by Newmont and is described on Ontario’s Invest Ontario website as the “mine of the future”. Borden features state-of-the-art health and safety controls, digital mining technologies and processes, and low-carbon energy vehicles. In addition, Borden’s all-electric underground fleet eliminates diesel particulate matter from the underground environment and lowers greenhouse gas emissions. This helps to reduce energy costs, protect employee health and minimize impacts to the environment.

Newmont commenced production at Borden in late 2019 and the initial mine plan outlined a seven-year mine life extending to 2027 projecting over 100,000 ounces of annual production. The early years of the mine life have focused on the near surface, northwest portion of the mine, with the later years of the mine life now focused at depth, under the Company’s Royalty coverage.