Castle Mountain DEVELOPMENT California, USA OPERATOR Equinox Gold Corp ("Equinox") COMMODITY TYPE TERMS LAND AREA Gold Royalty 5.0% NSR 100 ha Royalty Summary Reserves Castle Mountain is an operating heap leach and mill gold mine lo- Reserves & Resources - Au P&P Reserves (koz Au) 1,088 cated in California, USA, north of Equinox’s Mesquite mine. Castle M&I Resources (koz Au) 1,345 Mountain is being developed by Equinox in two stages, Phase 1 and Inferred Resources (koz Au) 588 Phase 2. Phase 1 is currently operating at the JSLA with an expected 2024 production of 30 - 35 Koz of gold. Equinox has indicated that Metalla Royalty Ounces - GEOs Phase 2, which is expected to begin in the latter half of the decade P&P Reserves (koz) 54 and including South Domes, is projected to expand production to M&I Resources (koz) 67 more than 200koz of gold annually. Inferred Resources (koz) 29 * Mineral Reserve and Mineral Resource estimate refer to South Domes only. * Mineral Resources are reported inclusive of Mineral Reserves * For Royalty GEO calculation, Metalla estimates 100% of the South Domes Mineral Resources and Castle Mountain is poised to become one of the USA’s largest gold Mineral Reserves are subject to our royalty interest at a rate of 5.0%. mines with an expected annual output of 218Koz and total all-in sus- * For sources, please refer to note 3 on the Notes & Sources page. taining cost of $858/oz over the 14-year Phase 2 mine plan. Cas- tle Mountain currently boasts 4.2 Moz of gold Mineral Reserves, of Royalty & Mineralization Map which South Domes covers approximately 1.1Moz gold Mineral Re- serves. Equinox has outlined the potential to expand the 2021 feasi- Mineralization bility study Mineral Reserve pits to ultimately connect the JSLA and Property Line South Domes pits. Equinox has focused recent exploration activities in the area between South Domes and JSLA with in昀椀ll drilling completed on the South Overburden and JSLA dumps. Activities are ongoing to amend the current mining permits for the Phase 2 expansion. Metalla's 5% NSR royalty covers the South Domes region including the overlying South Overburden. Metalla Royalty & Streaming Ltd. 17