Sandstorm Gold Ltd. (“Sandstorm Gold Royalties” or the “Company”) (NYSE: SAND, TSX: SSL) has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets and Scotiabank (the “Underwriters”) under which the Underwriters have agreed to buy from the Company, on a bought deal basis, 15,700,000 common shares (the “Common Shares”), at a price of US$5.10 per Common Share for gross proceeds to the Company of approximately US$80 million (the “Offering”). The Company has granted the Underwriters an option, exercisable at the offering price for a period of 30 days following the closing of the Offering, to purchase up to an additional 15% of the Offering to cover over-allotments, if any. The Offering is expected to close on or about October 4, 2022 and is subject to the Company receiving all necessary regulatory approvals.

The Company plans to use the net proceeds of the Offering for future acquisitions of streams and royalties, the repayment, from time to time, of amounts drawn under the Company’s revolving credit facility, and other general working capital purposes.

The Common Shares will be offered by way of a prospectus supplement to be filed in all provinces and territories of Canada, other than Quebec, pursuant to the Company’s base shelf prospectus dated September 22, 2022, and will be offered in the United States pursuant to an effective registration statement filed under the Canada/U.S. multi-jurisdictional disclosure system (File No. 333-237807), and on a private placement basis in certain jurisdictions outside Canada and the United States pursuant to applicable prospectus exemptions. Such documents contain important information about the Offering. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Common Shares in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

Copies of the base shelf prospectus dated September 22, 2022 and prospectus supplement relating to the Offering, when available, may be obtained upon request in Canada by contacting BMO Nesbitt Burns Inc. (“BMO Capital Markets”), Brampton Distribution Centre C/O The Data Group of Companies, 9195 Torbram Road, Brampton, Ontario, L6S 6H2 by telephone at 905-791-3151 Ext 4312 or by email at torbramwarehouse@datagroup.ca, and in the United States by contacting BMO Capital Markets Corp., Attn: Equity Syndicate Department, 151 W 42nd Street, 32nd Floor, New York, NY 10036, or by telephone at (800) 414-3627 or by email at bmoprospectus@bmo.com. Copies of the base shelf prospectus and prospectus supplement, when available, can be found under the Company’s profile on SEDAR at www.sedar.com, and a copy of the registration statement and the prospectus supplement can be found on EDGAR at www.sec.gov.

CONTACT INFORMATION
For more information about Sandstorm Gold Royalties, please visit our website at www.sandstormgold.com or email us at info@sandstormgold.com.

NOLAN WATSON MARK KLAUSEN