Royalty Assets

	Property	Primary Commodity	Explorer/Developer	Royalty Basis
1	Chapada	Copper	Lundin Mining	3.7% of payable copper stream
1	777	Zinc, Copper, Gold & Silver	Hudbay Minerals	4% Net smelter return ("NSR")
1	Rocanville	Potash	Nutrien	Revenue
1	Cory	Potash	Nutrien	Revenue
1	Allan	Potash	Nutrien	Revenue
1	Patience Lake	Potash	Nutrien	Revenue
1	Esterhazy	Potash	Mosaic	Revenue
1	Vanscoy	Potash	Nutrien	Revenue
1	Voisey's Bay	Nickel, Copper, Cobalt	Vale	0.3% NSR
1	IOC	Iron	Iron Ore Company of Canada	7% Gross Overriding Royalty ("GOR")
1	Genesee	Coal (Electricity)	Westmoreland / Capital Power Corporation	Tonnes x indexed multiplier
1	Sheerness	Coal (Electricity)	Westmoreland / Heartland Generation Ltd. (private subsidiary of Energy Capital Partners)	Tonnes x indexed multiplier
2	Gunnison	Copper	Excelsior Mining Corp.	1.625% GRR
2	Kami	Iron	Champion Iron Limited	3% GSR
2	Curipamba	Copper	Adventus Mining Corp	2% NSR
2	Tres Quebradas (3Q)	Lithium	Neo Lithium Corp.	0.1% GRR
2	Telkwa	Met Coal	Allegiance Coal Limited	1.5-3% price based sliding scale GSR
3	Viking	Gold	Anaconda Mining Inc	2% NSR, plus 1-1.5% royalties on surrounding lands
3	Central Mineral Belt	Copper	Paladin Energy Ltd	2% NSR on all minerals except uranium
3	Grota do Cirilo	Lithium	Sigma Lithium Resources	0.1% GOR (After mandatory deductions for government/community)
3	Stellar	Copper	PolarX Ltd	2% NSR on gold; 1% NSR on base metals
3	Silicon	Gold	Renaissance Gold Inc / Anglo Gold Ashanti NA	1.5% NSR
3	Pickett Mountain	Zinc, lead, copper, silver	Wolfden Resources Corp	1.35% GSR
4	Golden Baie	Gold	Canstar Resources Inc.	1% NSR
4	Wilding Lake, Crystal Lake, Intersection	Gold	Canterra Minerals Corp.	2% NSR
4	Golden Rose	Gold	Tru Precious Metals Corp.	2% NSR
4	Taylor Brook	Nickel	Churchill Diamond Corp.	1.6% GSR
4	Sail Pond	Silver, Copper	Sterling Metals Corp.	2% NSR
4	Midland	Zinc	BMEx Ltd.	1% GSR
4	Llano del Nogal	Copper	Orogen Royalties Inc.	1.5% NSR on PM; 1.0% NSR on BM
4	Cuale	Copper	Orogen Royalties Inc.	1.5% NSR on PM; 1.0% NSR on BM
4	Jupiter	Gold	Orogen Royalties Inc.	1.0% NSR
4	Kingscourt, Rathkeale	Zinc	South32 Base Metals Ireland Limited	2% NSR on each Project
4	Arcas, Lia, Timon, Quiltro	Copper	AbraPlata Resource Corp / Rio Tinto	0.98% GSR
4	Cape Ray	Gold	Cape Ray Mining Limited	2.0% NSR
4	Lismore	Zinc	BMEx Ltd.	2% NSR on each Project
4	Saint Patrick	Cobalt	LRH Resources Ltd	2% GSR
4	Copper Range	Copper	N/A	Option to acquire 1% NSR held by a third party
4	Loro en el Hombro	Copper	Revelo Resources Corp	0.98% NSR on gold; 0.49% NSR on base metals
4	Buchans	Zinc	Canstar Resources Inc.	2% NSR
4	Mythril	Copper, Gold	Midland Exploration Inc.	1% NSR
4	Gibson	Gold	Canex Metals Inc.	Option to acquire a 1.5% NSR
4	Daniel's Harbour	Zinc	Canstar Resources Inc.	2% NSR
4	Vidalita, Jotahues	Gold	Emu NL	0.49% NSR
4	Kingscourt, Rathkeale, Fermoy	Zinc	South 32 Base Metals Ireland	1% GSR
4	Moria	Nickel	Midland Exploration Inc.	1% NSR
4	Shire	Zinc	Midland Exploration Inc.	1% NSR
4	Voyageur	Nickel	N/A	2% NSR
4	Moosehead	Gold	Sokoman Minerals Corp.	2% NSR
4	Iron Horse	Iron	Sokoman Minerals Corp.	1% GSR; option to acquire additional 1.1% GSR
4	Sulieman, Buckingham, Smoky	Zinc	Teck Australia Pty	1% GSR
4	Point Leamington	Zinc	Callinex Mines Inc.	2% GSR
4	Goethite Bay	Iron Ore	High Tide Resources Corp.	2.75% GSR on iron ore; 2.75% NSR on all other minerals
4	Sheerness West - CDC	Thermal Coal	Westmoreland Coal Company	Tonnes x indexed multiplier

2 6

Voisey's Bay Labrador, Canada
Nickel, Copper, Cobalt

IOC Labrador, Canada
Iron

Kami Labrador, Canada
Iron

Central Mineral Belt Labrador, Canada
Copper

Iron Horse Labrador, Canada
Iron

Goethite Bay Labrador, Canada
Iron Ore

Rocanville Saskatchewan, Canada
Potash

Esterhazy Saskatchewan, Canada
Potash

Cory Saskatchewan, Canada
Potash

Allan Saskatchewan, Canada
Potash

Vanscoy Saskatchewan, Canada
Potash

Patience Lake Saskatchewan, Canada
Potash

2 2 6

Viking Newfoundland, Canada
Gold

Buchans Newfoundland, Canada
Zinc

Moosehead Newfoundland, Canada
Gold

Point Leamington Newfoundland, Canada
Zinc

Daniel's Harbour Newfoundland, Canada
Zinc

Sail Pond Newfoundland
Silver, Copper

2 2 2 2 3 2

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