Investors

Royalty Holdings

(1)2% Net Smelter Return (NSR) on precious metals, 1% NSR on other metals
(2) Equitorial can purchase one-half of the NSR from Strategic for $2,000,000
(3)Excludes silver
(4)HighGold can purchase 0.5% for $750,000
(5)Snowline can purchase 1% for 1,000 ounces gold
(6)2% NSR Royalty on gold and a 0.5% NSR Royalty on silver and base metals. Fireweed can purchase 1% gold and 0.25% silver and base metals for $1,000,000
(7)2% NSR on all commodities from conventional mining, 10% NSR on all commodities from high grade mining
(8)Cascadia has the option to purchase one half of the NSR Royalty (1%) for $2 million subject to annual CPI adjustment at any time prior to a production decision.
(9)Trifecta has the option to purchase one half of the NSR Royalty (1%) for 1,500 ounces gold or cash equivalent