Triple Flag Acquires Royalties Near Gold Fields’ Salares Norte Project
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NEWS RELEASE
Toronto, December 24, 2021
Triple Flag Acquires Royalties Near Gold Fields’ Salares Norte
Project
Triple Flag Precious Metals Corp. (with its subsidiaries, “Triple Flag” or the “Company”) (TSX:TFPM, TSX:TFPM.U)
is pleased to announce the acquisition for US$4.9 million of three pre-existing 2% net smelter returns (“ NSR”)
royalties on each of the Aster 2, Aster 3, and Helada properties from a private third party that are proximal to
Gold Fields Limited’s (“Gold Fields”) Salares Norte project in Chile. These properties cover prospective exploration
ground that Gold Fields has been exploring.
The S alares Norte project is currently under construction with anticipated first production in 2023. Once
operational, the open pit mine is forecast to have an average annual production of 450,000 gold equivalent ounces
per year for the first seven years, decreasing to around 355,000 gold equivalent ounces for the following three
years.
The royalties include buy-down provisions that would reduce the amount of each NSR royalty from 2% to 1%. The
amount to be received by Triple Flag if the buy-down provisions are exercised would be US$2 million for the Aster
2 royalty and US$4 million for each of the Aster 3 and Helada royalties.
About Triple Flag
Triple Flag’s shares are listed on the TSX under TFPM.U (USD listing) and TFPM (CAD listing). On May 26, 2021
Triple Flag closed its initial public offering (“IPO”), which was the largest TSX-listed mining IPO since 2012 by size
and market capitalization, and the largest precious metals IPO globally by market capitalization since 2008. Triple
Flag is a gold-focused streaming and royalty company, providing investors exposure to a long-life, diversified and
high-quality portfolio of streams and royalties, that generates robust free cash flows. Our business is underpinned
by a rigorous focus on asset quality, optionality, sustainability and risk management. We offer bespoke financing
solutions to the metals and mining indust ry. Our mission is to be a sought -after, long-term funding partner to
mining companies throughout the commodity cycle. Since our inception in 2016, we have delivered sector-leading
growth through the construction of a diversified portfolio of streams and r oyalties that provides exposure
primarily to gold and silver in the Americas and Australia. We have 78 assets, including 9 streams and 69 royalties.
These investments are tied to mining assets at various stages of the mine life cycle, including 15 producing mines
and 63 development and exploration stage projects. References to Triple Flag mean Triple Flag Precious Metals
Corp., together with its wholly owned subsidiaries.
NEWS RELEASE
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Contact Information - Inquiries:
James Dendle
Vice President, Evaluations & Investor Relations
+1 (416) 304-9770
Forward-Looking Information
This news release contains “forward -looking information” within the meaning of applicab le Canadian securities
laws. Forward-looking information may be identified by the use of forward -looking terminology such as “plans”,
“targets”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “outlook”, “forecasts”, “projection”,
“prospects”, “strategy”, “intends”, “anticipates”, “believes”, or variations of such words and phrases or
terminology which states that certain actions, events or results “may”, “could”, “would”, “might”, “will”, “will be
taken”, “occur” or “be achieved”. Our assessm ents of, and expectations for, future periods (including, but not
limited to, our 2021 guidance and long-term production outlook for GEOs, our dividend policy and our acquisition
strategy), are considered forward -looking information. In addition, any state ments that refer to expectations,
intentions, projections or other characterizations of future events or circumstances contain forward -looking
information. Statements containing forward -looking information are not historical facts but instead represent
management’s expectations, estimates and projections regarding possible future events or circumstances.
The forward -looking information included in this news release is based on our opinions, estimates and
assumptions in light of our experience and perception of historical trends, current conditions and expected future
developments, as well as other factors that we currently believe are appropriate and reasonable in the
circumstances. The forward-looking information contained in this news release is also based upon the ongoing
operation of the properties in which we hold a stream or royalty interest by the owners or operators of such
properties in a manner consistent with past practice; the accuracy of public statements and disclosures made by
the owners or operators of such underlying properties; and the accuracy of publicly disclosed expectations for the
development of underlying properties that are not yet in production. These assumptions include, but are not
limited to, the following: assumptions in respect of current and future market conditions and the execution of our
business strategies, that operations, or ramp-up where applicable, at properties in which we hold a royalty, stream
or other interest, continue without further interruption through the period, and the absence of any other factors
that could cause actions, events or results to differ from those anticipated, estimated, intended or implied. Despite
a careful process to prepare and review the forward -looking information, there can be no assurance that the
underlying opinions, estimates and assumptions will prove to be correct. Forward -looking information is also
subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of
activity, performance or achievements to be materially different from those expressed or implied by such forward-
looking information. Such risks, uncertainties and other factors include, but are not limited to, those set forth
under the caption “Risk Factors” in our May 19, 2021 pr ospectus. For clarity, M ineral Resources that are not
Mineral Reserves do not have demonstrated economic viability and I nferred Resources are considered too
geologically speculative for the application of economic considerations.
Although we have attempted to identify important risk factors that could cause actual results or future events to
differ materially from those contained in forward -looking information, there may be other risk factors not
presently known to us or that we presently believe are not material that could also cause actual results or future
events to differ materially from those expressed in such forward-looking information. There can be no assurance
that such information will prove to be accurate, as actual results and future events could differ materially from
those anticipated in such information. Accordingly, readers should not place undue reliance on forward -looking
information, which speaks only as of the date made. The forward -looking information contained in this news
release represents our expectations as of the date of this news release and is subject to change after such date.
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We disclaim any intention or obligation or undertaking to update or revise any forward -looking information
whether as a result of new information, future ev ents or otherwise, except as required by applicable securities
laws. All of the forward-looking information contained in this news release is expressly qualified by the foregoing
cautionary statements.
Technical and Third-Party Information
Triple Flag does not own, develop or mine the underlying properties on which it holds stream or royalty interests.
As a royalty or stream holder, Triple Flag has limited, if any, access to properties included in its asset portfolio. As
a result, Triple Flag is d ependent on the owners or operators of the properties and their qualified persons to
provide information to Triple Flag or on publicly available information to prepare disclosure pertaining to
properties and operations on the properties on which Triple Flag holds stream, royalty or other similar interests.
Triple Flag generally has limited or no ability to independently verify such information. Although Triple Flag does
not believe that such information is inaccurate or incomplete in any material respect, t here can be no assurance
that such third-party information is complete or accurate.