Mr. Alex Reeves reports

ROYAL CANADIAN MINT ANNOUNCES CLOSING OF FOLLOW-ON OFFERING OF GOLD EXCHANGE-TRADED RECEIPTS

The Royal Canadian Mint has completed its previously announced follow-on offering of 833,200 exchange-traded receipts (ETRs) under the Mint's Canadian Gold Reserves program at a price of $53.18 per ETR for gross proceeds of $44,309,576. The newly issued ETRs have been listed on the Toronto Stock Exchange and are fully fungible with all other outstanding ETRs. The offering was made on a prospectus-exempt basis pursuant to the terms of exemptive relief orders issued in favour of the Mint by the Ontario Securities Commission.

Each ETR provides its holder with direct legal and beneficial ownership in physical gold bullion held in the custody of the Mint at its facilities in Ottawa. The newly issued ETRs have a per-ETR entitlement to gold that is the same as all other outstanding ETRs, which as of today's date is 0.0103871 of one fine troy ounce.

Subject to certain restrictions, ETR holders are entitled to redeem their ETRs for physical gold bullion with a minimum purity of 99.99 per cent, or for cash.

The offering was made by a syndicate of underwriters co-led by TD Securities Inc. and National Bank Financial Inc. and included CIBC Capital Markets, RBC Capital Markets, BMO Capital Markets, Canaccord Genuity Corp., Scotiabank, Raymond James Ltd., Cormark Securities Inc., Desjardins Capital Markets, iA Private Wealth Inc. and Manulife Securities Inc.

Additional information on the Canadian Gold Reserves program and the ETRs is available on the Canadian Gold Reserves' website and on the Mint's issuer profile on SEDAR+.

About the Royal Canadian Mint

The Royal Canadian Mint is the Crown corporation responsible for the minting and distribution of Canada's circulation coins. The Mint is one of the largest and most versatile mints in the world, producing award-winning collector coins, market-leading bullion products, as well as Canada's prestigious military and civilian honours.