DESIGNATED NEWS RELEASE

VANCOUVER, BC, July 31, 2023 /CNW/ - Gold Royalty Corp. (NYSE American: GROY) ("Gold Royalty" or the "Company") is pleased to announce that it has entered into an agreement (the "Agreement") to acquire an existing 1.0% net smelter return ("NSR") royalty (the "Royalty") from Endeavour Silver Corp. ("Endeavour") on portions of the Cozamin Copper-Silver Mine, located in Zacatecas, Mexico, ("Cozamin") for total cash consideration of US$7.5 million. Cozamin is owned and operated by Capstone Copper Corp. ("Capstone").