DESIGNATED NEWS RELEASE

VANCOUVER, BC, Dec. 2, 2022 /CNW/ - Gold Royalty Corp. ("Gold Royalty" or the "Company") (NYSE American: GROY) is pleased to announce that it has entered into an agreement with Val-d'Or Mining Corporation (TSXV: VZZ) ("Val-d'Or Mining") to sell and generate royalties on 12 prospective properties in Québec and Ontario (the "VZZAgreement"). Under the VZZ Agreement, the Company will also retain a right of first refusal ("ROFR") on any royalty or similar interest sold by Val-d'Or Mining.