Mr. Paolo Lostritto reports

SAILFISH TO SETTLE INTEREST PAYMENT IN SHARES

Sailfish Royalty Corp. has elected to settle an aggregate of $205,000 (U.S.) in interest accrued up to Nov. 24, 2023, through the issuance of an aggregate of 219,397 common shares in the capital of the company at a deemed price of $1.28 per share to the holders of convertible debentures dated May 24, 2023.

Each debenture accrues interest at a rate of 10 per cent per annum payable semi-annually in arrears. Under the terms of the debentures, subject to TSX Venture Exchange acceptance, accrued interest is payable at the election of the company in shares at a price per share equal to the greater of: (A) the 20-day average closing price of the shares on the TSX-V immediately before the date the shares are issued in satisfaction of accrued interest; and (B) the closing price of the shares on the TSX-V on the date immediately before the date the shares are issued in satisfaction of accrued interest.

The issuance of the shares to Wexford Catalyst Trading Ltd. and Wexford Spectrum Trading Ltd. (the interested parties) constitutes a related-party transaction within the meaning of Multilateral Instrument 61-101. Notwithstanding the foregoing, the directors of the company have determined that the issuance of shares to the interested parties will be exempt from the formal valuation requirements of MI 61-101 by virtue of the exemption contained in Section 5.5(a) and from the minority shareholder approval requirements of MI 61-101 by virtue of the exemption contained in Section 5.7(1)(a) of MI 61-101, as the fair market value of the securities issued to the interested parties did not exceed 25 per cent of the company's market capitalization. The company did not file a material change report 21 days prior to the closing of the transaction as the details of the participation of interested parties had not been confirmed at that time.

The foregoing is subject to TSX Venture Exchange approval, the shares will be subject to a statutory hold period of four months from the date of issuance, in accordance with applicable securities legislation.

About Sailfish Royalty Corp.

Sailfish is a precious metals royalty and streaming company. Within Sailfish's portfolio are three main assets in the Americas: a gold stream equivalent to a 3-per-cent net smelter royalty on the San Albino gold mine (about 3.5 square kilometres) and a 2-per-cent NSR on the rest of the area (about 134.5 square km) surrounding San Albino in northern Nicaragua; an up to 3-per-cent NSR on the multimillion-ounce Spring Valley gold project in Pershing county, Nevada; and a 100-per-cent interest in the Gavilanes silver project located in Durango state, Mexico.

We seek Safe Harbor.