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Sandstorm Gold Royalties Provides Asset Update

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VANCOUVER, BC, Dec. 2, 2021 /PRNewswire/ – Sandstorm Gold Ltd. (“Sandstorm Gold Royalties”, “Sandstorm” or the “Company”) (NYSE: SAND) (TSX: SSL) is pleased to provide an update of recent developments from the Company’s royalty portfolio.

FIRST MAJESTIC RELEASES UPDATED SANTA ELENA MINE PLAN; SANDSTORM UPDATES SHORT-TERM PRODUCTION GUIDANCE

In late November, First Majestic Silver Corp. (“First Majestic”) released an updated Technical Report for the Santa Elena Mine in Mexico, which incorporates production from the nearby Ermitaño project. Sandstorm’s gold stream on the Santa Elena mine does not cover the Ermitaño project. The updated mine plan outlines processing of both Ermitaño and Santa Elena material starting in 2022, reducing expected annual production from the Santa Elena mine. Expected attributable production to Sandstorm from the Santa Elena gold stream has been reduced starting in 2022.

Considering the expected reduction in attributable gold equivalent ounces from the Santa Elena gold stream, Sandstorm is updating its short-term guidance (2022-2024) to approximately 63,000 gold equivalent ounces per year. Long-term guidance remains unchanged at 125,000 gold equivalent ounces by 2025.

For more information on the Santa Elena project and updated Technical Report, visit the First Majestic website at www.firstmajestic.com and see the press release dated November 24, 2021.

EQUINOX RELEASES PFS FOR AURIZONA EXPANSION

Equinox Gold Corp. (“Equinox Gold”) released a Pre-Feasibility Study in September 2021 for an expansion to the Aurizona mine through the development of an underground mine and additional satellite open-pit deposits, which would be operated concurrently with the existing open-pit mine. The assessment outlines total production of 1.5 Moz gold over an 11 year mine life. Average annual production over the mine life is 137,000 ounces, with peak production between 2026–2029, expected to average greater than 160,000 ounces per year.

The Aurizona Proven & Probable Mineral Reserves increased 73% to 1.66 Moz gold (contained in 32.3 Mt at 1.6 grams per tonne (“g/t”) gold with a cut-off grade of 0.35–0.47 g/t for open-pit and 1.8 g/t gold for underground, effective date of June 30, 2021) compared to previously stated Mineral Reserves from December 31, 2019. Measured & Indicated Resources (exclusive of reserves) increased to an estimated 868,000 ounces contained in 18.1 Mt at 1.5 g/t gold (cut-off grade of 0.3 g/t for open pit and 1.0 g/t for underground resources, effective date of June 30, 2021).

For more information, visit the Equinox Gold website at www.equinoxgold.com and see the press release dated September 20, 2021. Sandstorm has a 3%–5% sliding scale NSR royalty on the Aurizona project. At gold prices between $1,500 and $2,000 per ounce, the royalty is a 4% NSR.

ANTIPA INTERSECTS 1.7 G/T GOLD AND 0.21% COPPER OVER 172.0 METRES AT MINYARI DEPOSIT

Antipa Minerals Limited (“Antipa”) has released results from their 2021 drill program on the Minyari deposit at the North Telfer project in Western Australia. The drill program has been focused on testing for extensions from existing resources, infill drilling, and exploring for new zones of mineralization. Given the success of the program in October 2021, Antipa expanded the drill program from 21,000 metres to 45,000 metres.

Highlighted drill results include:

  • 21MYC0216: 172.0 metres of 1.7 g/t gold and 0.21% copper from 230.0 metres;
  • 21MYC0221: 77.0 metres of 1.3 g/t gold, 0.41% copper, and 1.1 g/t silver from 85.0 metres;
  • 21MYC0233: 134.0 metres of 1.7 g/t gold and 0.30% copper from 212.0 metres; and
  • 21MYC0235: 30.0 metres of 3.0 g/t gold and 0.14% copper from 149.0 metres.

Intersections are downhole lengths; true widths are not known with certainty. For more information and complete drill results, visit the Antipa website at www.antipaminerals.com.au and see the press releases dated July 20, 2021 and October 5, 2021. Sandstorm has a 1.0% NSR on the North Telfer project.

ERDENE INTERSECTS 33.5 G/T GOLD OVER 8 METRES AT DARK HORSE MANE DISCOVERY

Erdene Resource Development Corporation (“Erdene”) released results from their follow-up drill program at the Dark Horse deposit. The Dark Horse deposit was discovered in early 2021 and is located 2.4 kilometres north of the Bayan Khundii Gold project. This discovery is the most significant area of gold mineralization in Erdene’s Khundii Gold District since the discovery of the Bayan Khundii gold deposit.

To date, Erdene has completed 14,681 metres of drilling in 128 holes at the greater Dark Horse prospect, covering an area of approximately 4.6 kilometres by 2.6 kilometres. The recent drilling confirmed a high-grade oxide zone starting at surface and is open at depth and along strike. Further follow-up drilling at Dark Horse is expected to commence in late Q4-2021.

Highlighted drill results include:

  • ADD-146: 17.0 metres of 16.7 g/t gold from 15.0 metres, including 8.0 metres of 33.5 g/t gold;
  • ADD-137: 24.5 metres of 9.4 g/t gold from 1.5 metres;
  • ADD-138: 25.0 metres of 6.1 g/t gold from 18.0 metres; and
  • ADD-136: 30.0 metres of 5.6 g/t gold from 6.0 metres.

Reported intervals are downhole apparent widths; true widths are not known. For more information and complete drill results, visit the Erdene website at www.erdene.com and see the press release dated November 17, 2021. Sandstorm has a 1.0% NSR on the Bayan Khundii project.

QP

Qualified
Person

Keith Laskowski (MSc), Sandstorm’s Vice President, Technical Services is a Qualified Professional (#01221QP) of the Mining and Metallurgical Society of America and a Qualified Person as defined by Canadian National Instrument 43-101. He has reviewed and approved the scientific and technical information in this press release.

CONTACT INFORMATION

For more information about Sandstorm Gold Royalties, please visit our website at www.sandstormgold.com or email us at [email protected].

ABOUT SANDSTORM GOLD ROYALTIES

Sandstorm Gold Royalties is a gold royalty company that provides upfront financing to gold mining companies that are looking for capital and in return, receives the right to a percentage of the gold produced from a mine, for the life of the mine. The Company has acquired a portfolio of 229 royalties, of which 28 of the underlying mines are producing. Sandstorm Gold Royalties plans to grow and diversify its low cost production profile through the acquisition of additional gold royalties. For more information visit: www.sandstormgold.com.

CAUTIONARY STATEMENTS TO U.S. SECURITYHOLDERS

The financial information included or incorporated by reference in this press release or the documents referenced herein has been prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board, which differs from US generally accepted accounting principles (“US GAAP”) in certain material respects, and thus are not directly comparable to financial statements prepared in accordance with US GAAP.

The disclosure and information contained or referenced herein uses mineral reserve and mineral resource classification terms that comply with reporting standards in Canada, and mineral reserve and mineral resource estimates are made in accordance with Canadian NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum — CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council, as amended (the “CIM Definition Standards”). These standards differ significantly from the mineral reserve disclosure requirements of the United States Securities Exchange Commission (the “SEC”) set forth in Industry Guide 7. Consequently, information regarding mineralization contained or referenced herein is not comparable to similar information that would generally be disclosed by U.S. companies under Industry Guide 7 in accordance with the rules of the SEC. Further, the SEC has…

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