Gold Royalties Corporation

Board of Directors

Brian Hearst, CA

Mr. Hearst is a Chartered Accountant with 30 years of experience with both large and junior companies involved in mining and energy, including international work experience in South America, Russia, and India. Mr. Hearst most recently served as the Chief Financial Officer of Canacol Energy Ltd. (TSX:CNE).

Steve King, CFA

Mr. King is the Cofounder, President and Chief Executive Officer of Alaris Royalty Corp. (TSX:AD), a Calgary-based business royalty company. In addition to his experience at Alaris Royalty, Steve has also spent 12 years in the investment banking industry, most recently as director of investment banking for First Associates Investments Inc., a predecessor of Blackmont Capital Inc. He has also held similar positions with Research Capital Corporation and Sprott Securities Inc. Mr. King is a director of Metropolitan Investment Corporation, a private investment.

Charles Downie, P.Geo.

Charles (Chuck) Downie has over 30 years of experience in mineral exploration and mining. He is a graduate of The University of Alberta (B.Sc., 1988). Mr. Downie worked for Cominco Ltd. both pre and post-graduation where he was involved with grassroots exploration, property evaluation, mine development and mine production at various exploration projects throughout Western Canada including Pine Point, Polaris, Snip and Sullivan. After leaving Cominco in 1993, Mr. Downie worked as a geological consultant throughout North, Central, and South America with a wide range of projects including copper gold porphyry, shear hosted gold, sedimentary exhalitive, and Volcanogenic Massive Sulphide. Mr. Downie is a member in good standing of the Association of Professional Engineers and Geoscientists of British Columbia. He has been associated with Eagle Plains Resources since 1993 where he is currently the Vice-President, Exploration. Mr. Downie presently serves as a Director at publicly-traded exploration companies Eagle Plains Resources Ltd. (TSXV:EPL) and Athabasca Nuclear Corp. (TSXV:ASC) and Omineca Metals and Mining Ltd. (TSXV:OMM).

Ryan Kalt, Barrister & Solicitor

Mr. Kalt is the Founder, President and Chief Executive Officer of Gold Royalties Corporation. He is a recognized entrepreneur and has received business achievement awards from organizations such as the Ontario Chamber of Commerce, the Business Development Bank of Canada and Export Canada. Mr. Kalt is a Barrister & Solicitor and has active membership in the Law Society of Alberta. He holds a B.Comm.(Honors) from Queen's University, an LL.B. and M.B.A. from the University of Western Ontario and an LL.M. from the University of Calgary. In addition to Gold Royalties Corporation, Mr. Kalt is also the Chairman of publicly-traded uranium exploration company Athabasca Nuclear Corp. (TSXV:ASC) and is on the board of several private companies.