Mr. Nolan Watson reports

SANDSTORM GOLD ROYALTIES RECEIVES COURT APPROVAL FOR ARRANGEMENT WITH ROYAL GOLD

The Supreme Court of British Columbia has granted the final order in connection with Sandstorm Gold Ltd.'s plan of arrangement with Royal Gold Inc., whereby Royal Gold will indirectly acquire all of the issued and outstanding common shares of Sandstorm. Pursuant to the arrangement, Sandstorm shareholders will receive 0.0625 of a share of common stock of Royal Gold for each Sandstorm share held.

The closing of the transaction is anticipated to occur on Oct. 20, 2025, subject to the satisfaction or waiver of the remaining customary closing conditions. Following completion of the arrangement, the company expects to delist its shares from the Toronto Stock Exchange and the New York Stock Exchange. It is anticipated that the company will also apply to the Canadian securities regulators for the company to cease to be a reporting issuer in the applicable jurisdictions and will deregister the Sandstorm shares under the U.S. Securities Exchange Act of 1934, as amended.

For a more detailed description of the arrangement, including regulatory matters and approvals, please see the company's management information circular dated Sept. 8, 2025, available under the company's profile on SEDAR+ and on EDGAR.

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 approximately 230 royalties, of which 40 of the underlying mines are producing.

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