157 Overview Principal Producing Development  Highlighted Evaluation Evaluation/Exploration  Mineral Resources and Reserves 31. Back River resources and reserves are reported to CIM standards with an effective date of 1/15/2023. Reserves and resources use gold prices of $1,500 and $1,550 respectively. Cut-off grades vary from 1.6 to 1.74 g/t for open-pit and 3.5 to 4.1 g/t for underground. 32. Castelo de Sonhos resources and reserves are reported to CIM standards with an effective date of 10/4/2021. Resources and reserves use a gold price of $1,550 and an NSR cut-off of $12 per tonne. 33. Celtic/Wonder North resources are reported to JORC standards as of 11/30/2018. Specific gold prices are not disclosed, but resources use a 0.5 g/t Au cut-off grade. 34. Côté Gold resources and reserves are reported to CIM standards with an effective date of 12/31/2023. 70% of reported reserves and resources are expected to fall within the Royal Gold royalty ground. Reserves and resources use gold prices of $1,400 and $1,500, respectively. Specific cut-off grades are not disclosed by the operator. 35. Don Mario resources and reserves are reported to CIM standards and have an effective date of 9/30/2023. Metal prices used for reserves were $1,600 Au, $18.00 Ag, and $3.00 Cu. Resource prices are $1,700 Au, $3.25 Cu. Cut-off grade is 0.3 g/t Au. 36. Granite Creek resources are reported to CIM standards with an effective date of 5/4/2021. There are no reserves reported for Granite Creek. The property is considered a production property because test mining produced gold ounces during the year. Gold price used for resources is $1,800 for open-pit and $1,600 for underground. Cut-off grades are 0.35 g/t open-pit and 5 g/t for underground. 37. Hasbrouck Mountain resources and reserves are reported to CIM standards with an effective date of 1/11/2023. Metal prices used for reserves are $1,790 for Au and $21.50 for Ag. For resources, $1,850 Au and $22.75 Ag are used. Cut-off grade is 0.007 opt Au. 38. Kutcho Creek resources and reserves are reported to CIM standards with an effective date of 7/30/2021. Royal Gold royalty area covers approximately 35% of the reported resources, including 100% of Esso area and 25% of Main area. Sumac is outside the Royal Gold royalty area. Metal prices used for both reserves and reserves are $1,600 Au, $20.00 Ag, $3.50 Cu and $1.15 Zn. NSR cut-off grades for reserves are C$38.40 for oxide open-pit, C$55.00 for sulfide open-pit, and C$129.45 for underground. Resource cut-off grades are 0.45% Cu equivalent for open-pit, 0.95-1.05% Cu equivalent for underground. 39. La India resources and reserves are reported to CIM standards with an effective date of 2/28/2022. Royal Gold royalty area covers portions of the property and excludes others. Metal prices for reserves are $1,600 Au and $20.00 silver, and reserves cut-off is 0.6 g/t Au. Gold price for resources is $1,800, and resource cut-off grades range from 0.5 to 0.65 g/t Au for open-pit and 2.0 g/t Au for underground. 40. Manh Choh resources and reserves are reported to CIM standards with an effective date of 12/31/2023. Reserves are reported using metal prices of $1,400 Au and $17.50 Ag. Resources are reported using metal prices of $1,700 Au and $21.30 Ag. Specific cut-off grades and recoveries are not reported. 41. Mara Rosa reserves and resources are reported to JORC standards with an effective date of 12/31/2022. Gold price of $1,800 was used for both reserves and resources. Specific recoveries and cut-off grades are not disclosed by the operator. 42. Marban reserves and resources are reported to CIM standards with and effective date of 8/17/2022. Royal Gold royalty claims cover only the Marban deposit. Additional resource areas on the claim block are outside the royalty area. Reserves are reported using $1,600 Au price and 0.3 g/t Au cut-off grade. Resources are reported using a $1,900 Au pit shell and cut-off grades of 0.3 g/t Au open-pit and 3.0 g/t Au for underground. 43. Ming resources and reserves are reported under CIM standards with an effective date of 3/31/2022. A portion of the 1807 zone falls on Royal Gold royalty ground. While the Ming mine has reserves as of the effective date, it is not known whether any portion of reserves falls on Royal Gold ground. Resources use metal prices of $1,300 Au, $17.00 Ag, and $2.99 Cu and a cut-off grade of 1% Cu. 44. NuevaUnión resources and reserves are reported to CIM standards and have an effective date of 12/31/2023. Royal Gold royalty covers approximately 30% of the La Fortuna section of NuevaUnión. Mineral reserves use prices of $1,200 Au and $3.00 Cu, with a NSR cut-off of $10.55. Resources use prices of $1,500 Au and $3.50 Cu, with a NSR cut-off of $9.12. 45. Pine Cove reserves and resources are reported to CIM standards and have an effective date of 9/1/2021. Royal Gold royalty claims cover Pine Cove stockpile and an estimated 60% of Argyle resource area. Reserves and resources use a gold price of $1,550. Cut-off grade for reserves is 0.56 g/t Au, and cut-off grade for resources is 0.50 g/t Au. 46. Relief Canyon resources are reported to CIM standards and have an effective date of 6/30/2022. We estimate 69% of Resources as attributable to our royalty area. No reserves are reported for Relief Canyon. Metal prices used for resources are $1,500 Au and $22.00 Ag. Specific cut-off grade is not reported. 47. Wembley Durack resources are reported to JORC standards with an effective date of 5/29/2008. Specific cut-off grade, metal prices, and recoveries are not disclosed. 48. Almaden resources are reported to CIM standards with an effective date of 6/22/2023. Resources use a $1,750 Au price and a 0.30 g/t cut-off grade. 49. Alturas resources are disclosed to CIM standards with an effective date of 12/31/2023. Commodity prices of $1,700 Au and $21.00 for Ag for used for disclosure. Specific cut-off grades were not disclosed. 50. Berg resources are disclosed to CIM standards with an effective date of 6/7/2023. Metal prices used for resources are $1,800 Au, $23.00 Ag, $4.00 Cu and $15.00 Mo. Cut-off grade is 0.3% Cu. 51. Bronson Slope resources are reported to CIM standards with an effective date of 12/31/2022. Royal Gold interests are estimated as covering 20% of the Bronson Slope resources. An NSR cut-off of C$9.00 per tonne is used for resource reporting. Specific recoveries and metals price assumptions are not disclosed. 52. Burnakura resources are reported to CIM standards with an effective date of 7/17/2018. Cut-off grades used are 0.5 g/t for open-pit and 3.0 g/t for underground. Specific metallurgical recoveries and metal prices are not disclosed. 53. Buttercup Bore resources are reported to JORC standards with an effective date of 7/1/2022. Royal Gold royalty ground covers approximately 50% of Snook zone. Resources are evaluated within pit shells designed at AUS$2,600 and use a cut-off grade of 0.80 g/t Au. Specific recoveries used are not disclosed. 54. Caber resources are reported to JORC standards with an effective date of 12/31/2021. Caber is part of the Matagami polymetallic VMS district but Glencore no longer discloses resource separately for Caber. Specific metal prices and cut-off grades are not disclosed. 55. Doby George resources are reported under CIM standards with an effective date of 10/20/2021. Gold price used for resources is $1,800, with cut-off grades of 0.2 g/t Au for oxide, 0.3 g/t for mixed, and 1.2 g/t for reduced material. 56. Gold River resources are reported to CIM standards with an effective date of 6/30/2023. Gold price of $1,200 was used for resource reporting, with a cut-off grade of $1,200. 57. Great Bear resources are reported to CIM standards with an effective date of 12/31/2023. Resources are reported using a $1,700 gold price and cut-off grades of 0.5 g/t Au for open-pit and 2.3 to 2.5 g/t Au for underground. 58. High Lake resources are reported to JORC standards with an effective date of 12/31/2023. Resources are reported at a 2.0% CuEq cut-off for open-pit and a 4.0% CuEq cut-off for underground. Specific metals price assumptions are not disclosed. 59. Holt resources are reported to CIM standards with an effective date of 12/31/2023. Resources are reported using an Au price of $1,500 and a 2.5 g/t cut-off grade.