Sailfish Announces Closing of Sale of Spring Valley and Moonlight Royalties to OR Royalties Inc. for US$168 Million in Cash

Sailfish Royalty Corp. (TSXV: FISH) (OTCQB: SROYF) has completed the previously announced sale of all issued and outstanding shares of Terraco Gold Corp., a wholly owned subsidiary, to OR Royalties Inc. The transaction was completed further to the company’s news release dated February 24, 2026.

Transaction details

Under the transaction, Sailfish sold Terraco Gold for after-tax cash consideration of US$168 million (the “Purchase Price”).

Terraco Gold, through its subsidiaries TGC Holdings Ltd. and Terraco Royalties USA, Inc., holds:

• an up to 3% net smelter return royalty on Solidus Resources’ Spring Valley gold project in Pershing County, Nevada, USA; and
• a 2% net smelter return royalty on Solidus Resources’ Moonlight property in Nevada, USA.

Advisers

National Bank Financial Inc. acted as financial advisor and INFOR Financial Group acted as strategic advisor to the company. DuMoulin Black LLP acted as legal counsel to Sailfish.

Company statement and intended use of proceeds

Paolo Lostritto, CEO of Sailfish Royalty, said: “The sale of the Spring Valley and Moonlight royalties meaningfully reduces portfolio concentration risk while strengthening our cash position at a time of significant opportunity in the current market. Sailfish intends to redeploy this capital within the mining sector, with a strong focus on precious metals streams and royalties, to support our robust dividend policy.”

Context: Sailfish’s royalty and streaming portfolio

Sailfish is a precious metals royalty and streaming company focused on returning capital to shareholders with an industry-leading dividend yield. The company’s portfolio includes three main assets in the Americas:

• a gold stream equivalent to a 3% NSR on the San Albino gold mine (approximately 3.5 sq. km) and a 2% NSR on the rest of the area (approximately 134.5 sq. km) surrounding San Albino in northern Nicaragua;
• a 2% NSR on the Gavilanes Silver Project in Durango State, Mexico; and
• an 11-year gold stream with Mako Mining Corp. (as referenced in the company’s March 24, 2026 news release).

Impact and forward-looking statements

The company said the transaction reduces portfolio concentration risk and strengthens its cash position, and that it plans to redeploy the proceeds within the mining sector, with a focus on precious metals streams and royalties.

The release also includes cautionary notes regarding forward-looking statements, including statements about the company’s intention to redeploy transaction proceeds and management’s assumptions regarding reinvestment opportunities and general economic and market conditions.