An anonymous director reports

SANDSTORM GOLD ROYALTIES DECLARES 2023 FOURTH QUARTERLY DIVIDEND

Sandstorm Gold Ltd.'s board of directors has declared the company's fourth quarterly cash dividend for 2023 in the amount of two cents per common share to shareholders of record as of the close of business on Oct. 17, 2023. The dividend will be paid on Oct. 27, 2023. The dividend qualifies as an eligible dividend as defined in the Income Tax Act (Canada).

The declaration, timing, amount and payment of future dividends will be subject to the discretion and approval of the board of directors. The company will review the dividend program on a continuing basis and may amend it at any time depending on the company's then current financial position, capital allocation framework, profitability, cash flow, debt covenant compliance, legal requirements and other factors considered relevant. As such, no assurances can be made that any future dividends will be declared and/or paid. Dividends paid to shareholders outside Canada (non-resident investors) will be subject to Canadian non-resident withholding taxes.

About Sandstorm Gold Ltd.

Sandstorm is a precious-metals-focused royalty company that provides upfront financing to mining companies and receives the right to a percentage of production from a mine, for the life of the mine. Sandstorm holds a portfolio of 250 royalties, of which 40 of the underlying mines are producing. Sandstorm plans to grow and diversify its low-cost production profile through the acquisition of additional gold royalties.

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