GRO GrowMax Resources Corp

CALGARY, ALBERTA--(Marketwired - May 1, 2014) - Gold Royalties Corporation (TSX-VENTURE:GRO) ("Gold Royalties" or "Corporation") is pleased to announce that it has closed a non-brokered unit financing (the "Financing") previously announced by the Corporation in its news release dated April 9, 2014. The Financing, which included insider participation, consisted of 720,000 units at a price of $0.35 per unit for gross proceeds of $252,000. Terms of the financing were otherwise as announced in the aforementioned news release.

Murgor Acquisition Update

The Corporation further reports that it has closed the acquisition of five NSR royalties (the "Acquisition") from Murgor Resources Inc. scheduled to close on April 30, 2014 and as detailed by news release dated April 7, 2014. As announced by Cartier Resources Inc. by way of news release dated April 11, 2014, the Benoist NSR right of first refusal was exercised, and thus the royalties acquired by Gold Royalties remained at the indicated five net smelter return royalties detailed by Gold Royalties' news release dated April 7, 2014.

The Financing and Acquisition remain subject to regulatory approval by the TSX Venture Exchange Inc.

Shareholder Rights Plan Update

The Corporation further reports that its Board of Directors has enacted the Shareholder Rights Plan approved by shareholders at its annual and special meeting of shareholders held on August 13, 2013. Gold Royalties advises that the enactment of the Shareholder Rights Plan is not in response to, or in anticipation of, any pending unsolicited bid to acquire control of Gold Royalties.

Options Update

Subject to disinterested shareholder approval, the Corporation further reports that it has elected to re-price certain incentive options granted in 2012, being an aggregate of 940,000 options issued to officers and directors, to a new exercise price of $0.30 with same expiration dates.

About Gold Royalties Corporation

Gold Royalties Corporation is a publicly traded, growth-orientated gold royalty business that acquires and holds gold royalty assets for investment purposes. The company acquires net smelter return and metal stream royalties, with a focus on gold royalties, located in stable jurisdictions. For more information, please visit www.GoldRoyalties.ca.

Forward-Looking Statements

The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Although Gold Royalties believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct. The forward looking statements contained in this press release are made as of the date hereof and Gold Royalties undertakes no obligations to update publicly or revise any forward looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Gold Royalties CorporationRyan Kalt, M.B.A., LL.M.President and Chief Executive Officer1-403-410-3815info@goldroyalties.cawww.GoldRoyalties.ca

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