Vancouver, British Columbia--(Newsfile Corp. - December 5, 2023) - Sandbox Royalties Corp. ("Sandbox Royalties", "Sandbox", or the "Company") announces the closing of the Blackwater royalty acquisition, the commencement of gold deliveries under the Greenstone gold purchase agreement, and commitments for a C$7.0 million fully-subscribed non-brokered equity private placement.

Blackwater Royalty Closing

Further to Sandbox's press release dated October 31, 2023, Sandbox reports that on November 30, 2023 it completed the acquisition of a 0.21% net smelter return ("NSR") royalty on a portion of Artemis Gold's ("Artemis") Blackwater project ("Blackwater"). Artemis recently provided an update on construction progress at Blackwater confirming overall construction was 45% complete, and that the project remains fully-funded, and on schedule for first gold pour in H2 2024. Additionally, Artemis announced that the results of a study to evaluate the benefits of advancing a phase 2 expansion earlier than contemplated in the 2021 Feasibility Study are expected to be released in early 2024.

Greenstone Gold Purchase Agreement

Additionally, on November 15, 2023, Sandbox received its first gold deliveries and subsequently completed its first gold sale in relation to the Greenstone gold purchase agreement. A total of 350 ounces (the monthly minimum) of gold were sold at an effective price of approximately $1984/oz, generating gross proceeds of approximately $0.7 million to Sandbox. Under the Greenstone gold purchase agreement, Sandbox is entitled to receive .. see & read more on
https://www.newsfilecorp.com/release/189932/Sandbox-Royalties-Update-Blackwater-Royalty-Acquisition-Closed-Greenstone-Revenue-Commenced-Private-Placement