Royal GOLD Mining Inc. Executes Defintive Agreement to Acquire Quebec GOLD Project

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ROYAL GOLD MINING INC.

Suite 701 - 595 Howe Street

Vancouver, BC V6C 2T5

ROYAL GOLD MINING INC. EXECUTES DEFINTIVE AGREEMENT

TO ACQUIRE QUEBEC GOLD PROJECT

Vancouver, BC, December 11, 2019 – Royal Gold Mining Inc. (ROYL:TSXV) (the

“Company”) reports that it has , executed a Definitive Agreement with an arm ’s length

vendor, granting the right to acquire a 100- per-cent interest in 163 mineral claims in the

Beauce region of Quebec, Canada. First year property expenditures total $100,000. The

Agreement calls for a four-year term with escalating cash payments, share issuances and

exploration expenditures. To acquire a 100-per-cent interest in the property, the Company

must pay $295,000 cash, issue 1,500,000 common shares and complete $2,200,000 in

exploration expenditures, subject to a 2-per-cent net smelter royalty. Upon the Company

exercising the option in full, a 2-per-cent NSR is subject to an optional buyback of 0.5 per

cent for $500,000 and a second optional buyback of 0.5 per cent for $500,000, thereby

leaving the Optionor with a 1- per-cent NSR. Share issua nces shall be subject to a 4

month hold period.

The Company is looking forward to augmenting its exploration portfolio with this exciting

gold and gold- polymetallic (silver -zinc-copper) opportunity located in one of the best

mining jurisdictions in the wor ld, as rated by the Fraser Institute. The Company shall be

providing property summary and presentation shortly and looks forward to advancing the

property in the 1st part of 2020.

In other developments, the Company has made substantial progress to retire a significant

portion of its outstanding debt such that outstanding current liabilities are less than

$100,000.

Contact Person: Mr. Glen Macdonald, P.Geo.

Telephone: (604)719-8129

Email: [email protected]

ON BEHALF OF THE BOARD

(signed) “Glen Macdonald”

Glen Macdonald

Chief Executive Officer and Director

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is

defined in the policies of the TSX Venture Exchange) accepts responsibility for the

adequacy or accuracy of this release.

This news release may contain forward-looking statements that are based on Royal Gold Mining

Inc.'s expectations, estimates and projections regarding its business and the economic

environment in which it operates. These statements are not guarantees of future performance

and involve risks and uncertainties that are difficult to control or predict. Therefore, actual

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outcomes and results may differ materially from those expressed in these forward- looking

statements and readers should not place undue reliance on such statements. Statements speak

only as of the date on which they are made, and Royal Gold Mining Inc. undertakes no obligation

to update them publicly to reflect new informati on or the occurrence of future events or

circumstances, unless otherwise required to do so by law.