Sea Meadow House, P.O. Box 116 Road Town, Tortola British Virgin Islands, VG1110

Sea Meadow House, P.O. Box 116

Road Town, Tortola

British Virgin Islands, VG1110

Tel: (284) 494-6401

www.sailfishroyalty.com

TSX-V: FISH | OTCQX: SROYF

Sailfish Discovers Several New Higher-Grade Veins on its 100% Owned Gavilanes Silver Project

Highlighted by Samples of 2.5 meters of 12.8 g/t Gold and 48.0 g/t Silver; 1 meter of 1,867 g/t

Silver, and 0.5 meters of 1,546 g/t Silver

Tortola, British Virgin Islands, January 12, 20 23 – Sailfish Royalty Corp. (TSX -V: FISH , OTCQX:

SROYF) (the "Company" or "Sailfish") is pleased to announce the results from the recent exploration work

conducted on the Company’s 100% owned Gavilanes Silver Project (“Gavilanes” or “ Project”) located

approximately 31 kilometers away from First Majestic’s San Dimas operation in Durango State, Mexico.

Gavilanes comprises several high-grade polymetallic silver veins tested by 47 shallow diamond drill holes

focused on three of these veins, which host mineralization in veins and s tock works of an intermediate

sulphidation system. Since its acquisition, Sailfish has expanded the number of contiguous mineral claims

to better encompass the mineralized system. During 2022, Sailfish conducted an extensive surface

sampling program that discovered an additional 18 mineralized silver rich polymetallic veins that have yet

to be drilled. Geologists collected contiguous representative chip samples across veins or structures which

are highlighted by:

Highlights:

(except as noted, widths are true width across mineralized structure, see Table 1 for complete breakdown)

• Descubridora vein: 4.0 meters (“m”), estimated true width 2.5 m, of 12.80 grams-per-tonne gold

(“g/t Au”) and 48 grams-per-tonne silver (“g/t Ag”)

• Descubridora vein: 18.0 m of 0.87 g/t Au and 40 g/t Ag

• San Nicolas vein: 1.0 m of 30.00 g/t Au and 190 g/t Ag

• San Nicolas vein: 2.0 m of 0.84 g/t Au and 754 g/t Ag

• San Nicolas - Veta del Pueblo vein: 1.0 m of 0.02 g/t Au and 1,867 g/t Ag

• Forasteros vein: 2.2 m of 10.12 g/t Au and 16 g/t Ag

• La Cruz vein: 0.5 m of 0.51 g/t Au and 1,546 g/t Ag

Gavilanes currently has an inferred mineral resource of 2.833 million tonnes at an average grade of 245.6

g/t AgEq (22.4 million ounces of silver-equivalent). This inferred mineral resource is highlighted by having

18.9 million ounces of silver at an average grade of 207 g/t silver.

For more complete information on the resource and all areas of exploration (including historic drill results)

pertaining to Gavilanes, please refer to the most recent technical report filed on May 14 th, 2021 found on

both Sailfish’s website at www.sailfishroyalty.com or on its SEDAR profile at www.sedar.com.

Qualified Person

Matthew D Gray, Ph.D holds degrees from the Colorado School of Mines (B.Sc. - Geological Engineering;

Ph.D. - Geology, with Minor in Mineral Economics) and the University of Arizona (M.Sc. - Geosciences).

He is an A.I.P.G. Certified Professional Geologist (C.P.G. 10688) and a CSA NI43-101 Qualified Person.

and is a n independent qualified person, as defined under National Instrument 43 -101. Dr. Gray has

reviewed the technical content of this news release and consents to the information provided in the form

and context in which it appears.

- 2 -

About Sailfish

Sailfish is a precious metals royalty and streaming company. Within Sailfish’s portfolio are two main assets

in the Americas: a gold stream equivalent to a 3% NSR on the San Albino gold mine (~3.5 sq. km) and a

2% NSR on the rest of the area (~134.5 sq. km) surrounding San Albino in northern Nicaragua; and an up

to 3% NSR on the multi-million ounce Spring Valley gold project in Pershing County, Nevada.

Sailfish is listed on the TSX Venture Exchange under the symbol "FISH" and on the O TCQX under the

symbol “SROYF". Please visit the Company's website at www.sailfishroyalty.com for additional information.

For further information: Paolo Lostritto, CEO, tel. 416-602-2645 or Akiba Leisman, Executive Chairman

of the Board, tel. 203-862-7059.

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

policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Table 1: Gavilanes Silver Project Surface Samples

(anomalous gold values highlighted in red; anomalous silver values highlighted in green)

Sample Area

Width

(m) Au_g/t Ag_g/t Cu_ppm Pb_ppm Zn_ppm

43001 San Nicolas 1.0 0.01 412 650 1,644 976

43002 Descubridora/San Nicolas 1.0 0.01 2 352 88 806

43003 Descubridora/San Nicolas 1.0 0.13 5 717 95 3,525

43004 Descubridora/San Nicolas 1.0 0.52 4 593 830 2,696

43005 La Gloria/San Nicolas 1.0 0.02 199 511 3,984 15,500

43006 La Gloria/San Nicolas 1.0 0.01 12 1,050 1,163 3,827

43007 La Gloria/San Nicolas 1.5 0.10 84 1,304 7,568 4,182

43008 Descubridora 0.6 0.02 5 237 263 809

43009 Descubridora 2.0 0.02 5 188 115 549

43010 Descubridora 2.0 0.03 4 248 73 371

43011 Descubridora 2.0 0.01 3 337 85 409

43012 Descubridora 2.0 0.06 3 775 61 330

43013 Descubridora 2.0 0.03 1 8 23 125

43014 Descubridora 2.0 0.01 1 44 21 163

43015 Descubridora 2.0 0.01 2 255 20 170

43016 Descubridora 1.0 0.35 5 203 183 370

43017 Descubridora 2.0 0.48 9 52 320 430

43018 Descubridora 2.0 0.59 10 80 671 649

43019 Descubridora 2.0 0.64 49 313 110 265

43021 Descubridora 2.0 1.99 70 407 240 351

43022 Descubridora 2.0 1.24 19 1,101 128 425

43023 Descubridora 2.0 0.97 88 419 300 482

43024 Descubridora 2.0 0.80 27 900 287 321

43025 Descubridora 2.0 0.41 39 3,964 3,287 2,143

43026 Descubridora 2.0 0.71 52 7,451 632 638

- 3 -

43027 Descubridora 2.0 0.15 8 978 237 435

43028 El Muerto 0.6 0.02 35 329 1,978 784

43029 El Muerto 2.0 0.76 51 2,714 4,848 1,952

43030 El Muerto 0.5 0.28 54 8,195 14,300 4,020

43031 Arroyo del agua 1.0 0.01 23 159 832 729

43032 Arroyo del agua 1.5 0.10 40 114 8,780 15,300

43033 Arroyo del agua 1.0 0.01 16 26 1,420 566

43034 Descubridora 1.2 0.01 2 77 182 320

43035 Descubridora 1.0 4.19 13 143 4,324 282

43036 Veta La Clinica 1.0 0.01 112 49 1,425 1,708

43037 Providencia 1.0 0.01 5 20 487 1,140

43038 Veta La Clinica 1.0 0.02 1,867 408 1,487 5,587

43039 Veta La Clinica 1.5 0.01 150 47 617 1,838

43040 Veta La Clinica 1.0 0.01 30 23 135 495

43041 Alto de providencia 1.5 0.01 150 130 3,876 4,635

43042 La Cruz 1.0 0.58 40 219 429 155

43043 Descubridora 2.0 2.44 17 22 44 77

43044 Descubridora 2.0 0.66 1 29 32 76

43045 Descubridora 2.0 2.39 21 50 142 128

43046 Descubridora 2.0 0.01 1 12 19 75

43047 Descubridora 1.2 0.55 5 10 32 187

43048 Descubridora 1.0 0.19 1 5 14 184

43049 Descubridora 2.0 0.32 1 10 17 150

43050 Descubridora 2.0 0.06 4 17 58 226

43051 Descubridora 2.0 0.05 17 739 319 247

43052 Descubridora 2.0 0.03 7 44 125 179

43053 Descubridora 2.0 0.03 1 14 32 190

43054 Descubridora 2.0 0.01 5 40 65 228

43055 Descubridora 2.0 0.01 1 15 35 182

43056 Descubridora 1.5 0.01 2 140 687 549

43057 Descubridora 1.5 0.10 149 26,990 126,700 45,800

43058 Descubridora 1.2 0.02 28 3,379 1,237 1,426

43059 Descubridora 1.0 0.03 15 835 16,500 2,268

43061 Descubridora 1.0 0.07 27 2,860 20,000 2,324

43062 Descubridora 1.0 0.06 46 2,084 59,900 5,918

43063 La Cruz 0.2 0.16 9 140 686 316

43064 La Cruz 0.5 0.51 1,546 824 4,153 1,587

43065 La Cruz 2.0 0.60 115 86 2,882 1,118

43066 La Cruz 1.0 0.10 57 61 2,550 511

43067 La Cruz 2.0 0.07 15 30 1,079 622

43068 La Cruz 0.4 0.57 14 37 1,469 2,112

- 4 -

43069 La Cruz 0.52 40 31 623 680

43070 La Cruz 1.0 1.44 57 114 1,083 4,236

43071 La Cruz 0.6 0.01 0 10 37 88

43072 Descubridora 1.0 0.07 3 16 61 217

43073 Descubridora 1.0 0.01 2 21 30 70

43074 La Cruz 0.6 0.01 4 32 404 803

43075 La Cruz 0.3 0.64 47 14 287 170

43076 La Cruz 0.6 0.01 0 11 18 94

43077 La Cruz 1.5 0.01 0 10 19 90

43078 La Cruz 1.0 0.01 2 19 8 69

43079 La Cruz 0.2 0.30 13 38 935 580

43081 La Cruz 2.0 0.27 9 57 1,841 235

43082 La Cruz 1.0 0.01 4 32 763 846

43083 Maximiliano 1.5 0.01 6 214 257 522

43084 Maximiliano 0.2 0.01 6 132 484 385

43085 Maximiliano 1.5 0.01 0 28 27 59

43086 Maximiliano 0.5 0.02 2 665 49 353

43087 Maximiliano 1.5 0.06 13 3,519 50 186

43088 Maximiliano 1.5 0.17 66 5,917 4,114 301

43089 Maximiliano 0.7 0.05 10 341 4,915 2,251

43090 Maximiliano 0.2 0.01 4 113 364 477

43091 Maximiliano 1.6 1.14 32 193 43,700 73,800

43092 Maximiliano 1.6 0.78 14 188 17,800 74,400

43093 Maximiliano 1.5 0.02 2 54 994 1,889

43094 Maximiliano 0.4 0.15 3 12 4,251 1,975

43095 Maximiliano 1.0 0.03 14 44 23,400 35,600

43096 Maximiliano 0.7 0.88 120 1,215 588 481

43097 Maxim-Descubridora 0.6 0.01 0 25 110 232

43098 Maxim-Descubridora 1.0 0.01 1 19 25 82

43099 Maxim-Descubridora 0.7 0.01 1 48 197 181

43101 Guadalupita 1.5 0.01 113 57 13,200 12,700

43102 Guadalupita 1.5 0.01 19 9 2,069 2,631

43103 Guadalupita 1.2 0.01 230 129 5,517 6,877

43104 Guadalupita 1.5 0.01 18 40 362 1,420

43105 Guadalupita 1.5 0.01 187 134 2,771 2,517

43106 Guadalupita 1.0 0.01 219 199 1,815 1,729

43107 Guadalupita 1.3 0.01 484 169 2,899 1,456

43108 Guadalupita 1.2 0.01 31 27 974 1,239

43109 Guadalupita 1.5 0.01 50 29 2,877 6,118

43110 Guadalupita 1.2 0.01 117 74 1,342 4,219

43111 Guadalupita 1.5 0.01 18 10 2,724 2,478

- 5 -

43112 Guadalupita 0.6 0.01 45 24 1,478 7,080

43113 Guadalupita 0.6 0.01 18 16 489 2,140

43114 Guadalupita 2.0 0.01 67 22 2,108 1,863

43115 Guadalupita 1.0 0.01 274 37 842 930

43116 Guadalupita 1.0 0.01 62 7 607 3,447

43117 Guadalupita 0.01 52 22 3,115 3,299

43118 Guadalupita 2.0 0.01 22 11 610 1,790

43119 Guadalupita 2.0 0.01 125 85 2,847 2,306

43121 Guadalupita 0.01 9 5 1,319 3,944

43122 Guadalupita 2.0 0.01 137 15 694 1,809

43123 Guadalupita 2.0 0.01 70 19 512 754

43124 Guadalupita 2.0 0.01 79 36 512 1,590

43125 Guadalupita 1.5 0.01 126 118 682 1,764

43126 Guadalupita 2.0 0.01 173 54 262 1,104

43127 Guadalupita 2.0 0.01 26 6 143 616

43128 Guadalupita 0.7 0.01 1 4 20 165

43129 Guadalupita 1.0 0.01 75 13 357 1,065

43130 Guadalupita 1.2 0.01 15 9 119 484

43131 Guadalupita 1.5 0.02 74 3,320 135 409

43132 Guadalupita 1.5 0.01 13 94 49 248

43133 Guadalupita 1.0 0.01 58 572 108 263

43134 Guadalupita 1.5 0.01 42 128 127 270

43135 Guadalupita 1.0 0.01 41 2,027 15,100 252

43136 Guadalupita 1.2 0.01 3 426 308 276

43137 Guadalupita 1.5 0.01 98 261 310 275

43138 Los Cardos 1.0 0.02 1 7 229 83

43139 Los Cardos 1.5 0.02 1 8 37 61

43141 Los Cardos 1.5 0.03 4 11 448 59

43142 Los Cardos 2.0 0.01 2 6 236 30

43143 Los Cardos 2.0 0.01 2 8 611 94

43144 Los Cardos 2.0 0.01 1 9 847 158

43145 Los Cardos 1.0 0.40 6 20 123 278

43146 Los Cardos 1.0 0.01 2 32 382 1,323

43147 Los Cardos 1.0 0.01 3 8 145 241

43148 Los Cardos 1.0 0.72 2 10 570 63

43149 Los Cardos 1.0 0.01 54 292 534 655

43150 Los Cardos 1.0 0.01 45 36 315 251

43151 Los Cardos 1.0 0.12 193 596 7,356 6,553

43152 Los Cardos 0.5 0.10 16 82 2,497 404

43153 Los Cardos 1.5 0.01 3 24 365 329

43154 Los Cardos 1.5 0.01 2 27 370 571

- 6 -

43155 Los Cardos 1.5 0.02 3 21 700 805

43156 Los Cardos 1.0 0.07 6 51 773 502

43157 Los Cardos 1.0 0.08 9 39 601 591

43158 Los Cardos 2.0 0.14 15 32 462 322

43159 Los Cardos 1.0 3.73 925 148 774 474

43160 Los Cardos 1.0 0.05 7 44 762 692

43161 Los Cardos 0.5 0.75 242 674 10,300 15,900

43162 Los Cardos 0.5 1.79 467 1,722 75,400 60,300

43163 Los Cardos 0.5 0.77 176 2,602 35,100 22,900

43164 Los Cardos 1.0 0.12 192 442 2,954 2,001

43165 Los Cardos 1.8 0.48 42 30 449 387

43166 Los Cardos 1.0 0.66 29 45 885 378

43167 Los Cardos 1.0 0.35 12 40 1,321 519

43168 Los Cardos 1.0 0.00 92 221 797 1,093

43169 Los Cardos 1.2 0.00 0 9 10 161

43170 Los Cardos 1.0 0.01 1 5 49 170

43171 Los Cardos 1.1 0.00 6 7 232 128

43172 Los Cardos 1.1 0.00 1 4 82 160

43173 Alancon 1.3 0.05 9 469 3,779 2,579

43174 Alancon 1.2 0.35 71 877 35,800 33,400

43175 Arroyo Yamoriba 1.0 0.07 6 27 310 231

43176 El Ojito 1.5 0.40 45 70 362 374

43177 Arroyo Vinata 2.0 0.01 1 13 58 245

43178 Arroyo Vinata 2.0 0.01 0 10 45 119

43179 Arroyo Vinata 2.0 0.01 0 16 40 216

43181 Arroyo Vinata 1.0 0.04 2 10 438 157

43182 Arroyo Vinata 1.0 0.02 2 7 34 34

43183 Arroyo Vinata 2.0 0.01 2 10 90 151

43184 Arroyo Vinata 2.0 0.11 2 10 66 109

43185 Arroyo Vinata 2.0 0.01 1 8 48 128

43186 Arroyo Vinata 1.5 0.01 1 5 117 200

43187 El paso de la quebrada 1.0 0.00 0 11 11 105

43188 El paso de la quebrada 1.0 0.00 0 11 10 95

43189 El Saucito 1.0 0.00 0 7 10 54

43190 Arroyo del limon 1.0 0.19 1 6 18 47

43191 Yamoriba, falda la chorrera 1.5 0.00 1 100 20 141

43192 Yamoriba, falda la chorrera 1.3 0.18 200 81,020 311 702

43193 Yamoriba, falda la chorrera 1.2 0.00 0 21 3 25

43194 Yamoriba, falda la chorrera 1.2 0.00 0 50 3 10

43195 Yamoriba, falda la chorrera 2.0 0.00 0 6 7 19

43196 Yamoriba, falda la chorrera 1.2 0.00 2 19 11 41

- 7 -

43197 Yamoriba, falda la chorrera 1.0 0.01 1 14 94 148

43198 Descubridora 1.0 0.07 200 1,783 26,800 23,200

43199 Descubridora 1.2 0.01 200 1,666 20,400 65,100

43201 Descubridora 1.2 0.00 88 186 1,744 5,258

43202 Descubridora 0.5 0.03 108 987 18,200 22,700

43203 Descubridora 2.0 0.03 2 641 507 316

43204 Descubridora 2.0 0.63 5 1,249 1,649 554

43205 Descubridora 1.5 0.00 1 46 123 445

43206 Descubridora 1.5 0.00 0 67 61 459

43207 Descubridora 2.0 0.01 1 89 310 240

43208 Descubridora 2.0 0.00 1 26 186 403

43209 Descubridora 2.0 0.01 0 12 220 243

43210 Descubridora 2.0 0.00 1 18 231 391

43211 Descubridora 2.0 0.00 1 38 322 433

43212 Descubridora 2.0 0.01 2 206 316 412

43213 Descubridora 2.0 0.01 1 227 88 346

43214 Descubridora 1.5 0.13 5 948 125 420

43215 Descubridora 1.5 0.98 8 334 384 287

43216 Descubridora 2.0 0.43 1 37 105 374

43217 Descubridora 2.0 0.51 5 517 244 388

43218 Descubridora 2.0 0.48 1 115 40 403

43219 Descubridora 2.0 0.29 6 1,255 63 482

43221 Descubridora 2.0 1.01 9 332 465 430

43222 Descubridora 2.0 0.07 3 170 84 235

43223 Descubridora 2.0 0.07 4 123 90 305

43224 Descubridora 2.0 0.64 2 9 18 248

43225 Descubridora 2.0 1.25 22 31 50 215

43226 Descubridora 2.0 0.18 1 15 13 129

43227 Descubridora 2.0 0.09 1 11 12 117

43228 Descubridora 2.0 0.45 1 34 14 119

43229 Descubridora 2.0 0.25 2 23 11 159

43230 Descubridora 2.0 2.23 2 255 22 162

43231 Descubridora 2.0 0.66 1 267 14 182

43232 Descubridora 2.0 0.08 9 620 56 230

43233 Descubridora 2.0 0.34 37 1,746 124 272

43234 Descubridora 2.0 1.20 52 160 478 256

43235 Descubridora 2.0 24.40 45 83 285 123

43236 Descubridora 2.0 2.42 45 83 257 125

43237 Descubridora 2.0 0.94 5 103 106 159

43238 Descubridora 2.0 0.69 5 15 52 145

43239 Descubridora 2.0 0.13 2 65 69 283

- 8 -

43241 Descubridora 1.5 0.13 3 53 35 172

43242 Descubridora 1.5 1.29 12 55 248 169

43243 Descubridora 2.0 0.38 2 7 26 171

43244 Descubridora 2.0 0.19 1 3 7 169

43245 Descubridora 2.0 0.23 1 3 7 171

43246 Descubridora 2.0 0.45 1 3 12 224

43247 Descubridora 2.0 0.04 1 4 9 169

43248 Descubridora 2.0 0.02 1 6 29 182

43249 Descubridora 1.5 0.09 1 9 18 223

43250 Descubridora 1.5 0.01 3 100 18 56

43251 Descubridora 1.5 0.02 1 11 19 96

43252 Descubridora 2.0 0.00 1 680 15 156

43253 Descubridora 2.0 0.00 1 371 16 105

43254 Descubridora 2.0 0.00 0 183 14 143

43255 Descubridora 2.0 0.00 1 140 31 243

43256 Descubridora 2.0 0.00 1 27 27 299

43257 Descubridora 1.5 0.02 5 296 45 314

43258 Descubridora 1.5 0.02 5 113 46 260

43259 Descubridora 1.5 0.01 2 404 97 325

43261 Descubridora 1.5 0.01 1 117 34 205

43262 Descubridora 1.5 0.01 1 94 27 192

43263 Descubridora 2.0 0.01 2 513 85 148

43264 Descubridora 1.2 0.01 1 319 108 309

43265 Descubridora 1.5 0.01 4 496 243 281

43266 Descubridora 1.3 0.12 6 286 89 214

43267 Descubridora 2.0 0.00 1 117 26 171

43268 Descubridora 2.0 0.00 1 103 35 255

43269 Descubridora 1.7 0.06 7 550 99 276

43270 Descubridora 1.7 0.65 12 1,599 71 279

43271 Descubridora 1.5 0.03 4 215 54 144

43272 Descubridora 2.0 0.01 1 200 12 186

43273 Descubridora 2.0 0.02 0 49 9 143

43274 Descubridora 2.0 0.00 0 229 8 120

43275 Descubridora 0.5 0.01 1 1,180 56 278

43276 San Nicolas 1.0 0.19 97 405 941 5,886

43277 San Nicolas 0.04 90 200 960 1,121

43278 Forasteros 0.6 0.00 2 93 32 344

43279 Forasteros 1.0 0.00 1 27 30 82

43281 Forasteros 1.5 0.03 1 50 102 405

43282 Forasteros 1.5 0.00 0 16 96 349

43283 Forasteros 0.12 180 1,850 13,200 1,513