Gold Royalties Corporation

Gold Royalties Corporation

October 31, 2012 18:55 ET

Gold Royalties Corporation Closes Private Placement

CALGARY, ALBERTA--(Marketwire - Oct. 31, 2012) - Gold Royalties Corporation (TSX VENTURE:GRO) ("Gold Royalties") is pleased to announce that, effective October 31, 2012, the non-brokered private placement previously announced on October 22, 2012 (the "Offering") has closed. Gold Royalties issued 1,111,112 units (the "Units") at $0.90 per Unit under the Offering for gross proceeds of $1,000,000.80.

Each Unit consisted of one common share of Gold Royalties (the "Common Shares") and one Common Share purchase warrant (the "Warrants"), with each Warrant entitling the holder thereof to purchase one additional Common Share at a price of $1.20 per Common Share for a period of 24 months from the date of closing.

Certain insiders of Gold Royalties participated in the Offering.

The net proceeds of the Offering will be used for general corporate purposes, including efforts to accelerate business development activities.

In connection with the Offering, the Company also paid cash finder's fees (the "Finders' Fees") equal to 6% of the gross proceeds of Units acquired by certain investors introduced to the Company by certain eligible persons (each, a "Finder").

The Common Shares and Warrants are subject to a four-month hold period expiring on March 1, 2013.

About Gold Royalties Corporation

Gold Royalties Corporation is a publicly traded, growth-orientated 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

Cautionary Statements

The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects, including use of proceeds from the Offering, that constitute forward looking statements.

These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Although Gold Royalties believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct. The intended use of the proceeds of the Offering by Gold Royalties might change if the board of directors of Gold Royalties determines that it would be in the best interests of Gold Royalties to deploy the proceeds for some other purpose. The forward looking statements contained in this press release are made as of the date hereof and Gold Royalties undertakes no obligations to update publically or revise any forward looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

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.

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