August 12, 2022, Vancouver, British Columbia – Maverix Metals Inc. (“Maverix” or the “Company”) (NYSE American
& TSX: MMX) is pleased to announce operating and financial results for the second quarter ended June 30, 2022.
Second Quarter 2022 Highlights
• Revenue of $14.2 million;
• Gold equivalent ounces (“GEOs”) sold of 7,6491;
• Cash flow from operating activities of $8.0 million;
• Cash flow from operating activities, excluding changes in non-cash working capital, of $9.6 million1;
• Average cash cost per GEO of $236, resulting in a cash operating margin of 87% or $1,620 per ounce1;
• Net income of $2.8 million, or $0.02 per share;
• Adjusted net income of $4.0 million1
, or $0.03 per share; and
• Orla Mining Ltd. (“Orla”) declared commercial production at its Camino Rojo mine, where Maverix holds a 2% NSR royalty.

Summary of Quarterly Results
Quarter Ended
(in thousands of USD, except for GEOs and per share amounts)
June 30, 2022 June 30, 2021
Statement of Income and Comprehensive Income
Royalty revenue $ 5,623 $ 7,999
Sales $ 8,574 $ 6,310
Total revenue $ 14,197 $ 14,309
Net income $ 2,755 $ 3,708
Basic earnings per share $ 0.02 $ 0.03
Diluted earnings per share $ 0.02 $ 0.03
Cash flow from operating activities $ 7,983 $ 8,813
Dividends declared per share $ 0.0125 $ 0.0125
Non-IFRS and Other Measures1
Adjusted net income $ 4,038 $ 3,739
Adjusted basic earnings per share $ 0.03 $ 0.03
GEOs sold 7,649 7,880
Average realized gold price per GEO $ 1,856 $ 1,816
Average cash cost per GEO $ 236 $ 197
Cash operating margin per GEO $ 1,620 $ 1,619
Cash flow from operating activities, excluding changes in non-cash working capital $ 9,596 $ 9,313
For complete details please refer to the unaudited condensed interim consolidated financial statements and associated
Management Discussion and Analysis for the three and six months ended June 30, 2022, available on SEDAR
(www.sedar.com), EDGAR (www.sec.gov) or on Maverix’s website (www.maverixmetals.com).
To listen to Maverix’s President, Ryan McIntyre, discuss the second quarter results please use this link: Q2 2022 Results

1
Please refer to the Non-IFRS Measures section at the end of this news release.

Omolon Royalty Update
On July 21, 2022, Polymetal International plc (“Polymetal”) announced that production targets were achieved for the second
quarter. In Q2, the Omolon mine produced approximately 43,000 ounces of gold and 100,000 ounces of silver. However,
international sanctions against Russia continue to have a material impact on sales, procurement and logistics. Restrictions in
the second quarter forced Polymetal to reduce shipments of gold creating a gap between sales and production. Maverix reports
revenue and GEOs based on ounces sold and not produced and, therefore, recognized almost none of the approximately 1,100
attributable GEOs produced in the second quarter. Polymetal has noted that the gap between sales and production will likely
be closed in the third quarter as it ramps up export sales to various Asian markets, but the exact timing is difficult to judge.
Polymetal has reiterated its production guidance for the year, however, it did note a risk of underperformance given persistent
lockdowns in Asia. Maverix understands that proactive contingency planning has been initiated by Polymetal to maintain
business continuity in the event of adverse developments, but no assurances can be made in this regard. The conflict between
Russia and Ukraine and any restrictive actions that have or may be taken in response thereto, such as sanctions, export and or
currency controls, could have negative impacts on Polymetal’s ability to continue operation of Omolon and Polymetal’s ability
to make payments to the Company. Maverix continues to work with Polymetal to effect payment of royalties from Omolon
in a way that does not breach any relevant sanctions. At June 30, 2022, the Company’s accounts receivable related to its
Omolon royalty interest is $4.4 million.
For more information, please refer to polymetalinternational.com and see the news releases dated July 21, 2022, June 23,
2022 and April 25, 2022.
Adjusted 2022 Outlook
Given the ongoing uncertainty relating to the Omolon royalty, Maverix is excluding Omolon GEOs from its outlook for the
second half of 2022. Excluding any contribution from Omolon in the second half, we expect 28,000 to 31,000 GEOs
attributable for 2022, which compares to the previously announced guidance of 32,000 to 35,000 attributable GEOs1
for 2022,
inclusive of GEOs attributable to the Omolon royalty.
Dan O’Flaherty, CEO of Maverix, commented, “Maverix’s portfolio had a steady second quarter related to underlying
production and we welcomed Orla’s declaration of commercial production at its Camino Rojo mine. There were also several
meaningful developments at other assets within our portfolio, related to ongoing exploration efforts and mineral resource
updates, some of which are described below. However, given the ongoing uncertainty relating to our Omolon royalty, we
believe it is prudent to exclude Omolon GEOs from our outlook for the second half of 2022. As inflation continues to impact
the operating and capital costs of mining companies, our diversified high-margin royalty and stream portfolio is wellpositioned to reduce exposure to rising costs and other global supply chain issues. With the challenging equity and debt market
conditions, we continue to evaluate several new opportunities to deploy our capital in a financially disciplined manner to
bolster our portfolio and generate attractive rates of return for our investors.”
Asset Portfolio Updates
Camino Rojo (2% NSR)
Orla Mining Ltd. (“Orla”) declared commercial production at its Camino Rojo oxide mine effective April 1, 2022, after a
successful commissioning period which included the ramp up of mining and processing to sustained throughput levels. In the
second quarter, Camino Rojo had record quarterly gold production of 25,672 ounces. Camino Rojo’s processing throughput
for the quarter averaged 18,245 tonnes per day, exceeding nameplate capacity of 18,000 tonnes per day.
For more information, please refer to orlamining.com and see the news release dated July 11, 2022.
Beta Hunt (4.75% Gold Royalty and 1.5% Nickel Royalty)
On July 19, 2022, Karora Resources Inc. (“Karora”) announced the drilling of the highest grade interval to date at Beta Hunt’s
Larkin Zone, 29.8 grams per tonne (“g/t”) gold over 7.8 metres, as part of its ongoing underground diamond drill program at Beta Hunt. Results from the drilling program support and extend the mineralization already defined by the current Larkin mineral resource and provide strong encouragement for potential high-grade mineralization to continue at depth. Work on the second decline at Beta Hunt continues to track on budget, and ahead of schedule, with expected completion in Q1 2023.

On May 11, 2022, Karora announced an updated nickel measured and indicated resource estimate for Beta Hunt that showed
an increase of 22% to 19,600 tonnes of nickel and an increase in the nickel inferred resource of 52% to 13,200 tonnes of
nickel. The significant addition includes the Maiden 50C Trend resource comprising a measured and indicated resource of
153,000 tonnes at 2.8% nickel for 4,300 tonnes of nickel and an inferred mineral resource of 124,000 tonnes at 3.1% nickel
for 3,800 tonnes of nickel. The 50C Trend is part of the Gamma Block Nickel mineral resource which is defined over 800
metres of strike with potential to extend a further 1.8 kilometres to 2.6 kilometres along strike. The updated mineral resource
will be used to support a preliminary economic assessment of expanded nickel production at Beta Hunt.
For more information, please refer to karoraresources.com and see the news releases dated July 19, 2022, July 14, 2022 and
May 11, 2022.
South Railroad (2% NSR)
On June 13, 2022, Orla announced the acquisition of Gold Standard Ventures Corp. (“Gold Standard”). Gold Standard’s
primary asset is its high-quality, open pit, heap leach South Railroad project located in the prolific Carlin trend in Nevada.
Gold Standard previously released the results of a robust feasibility study on South Railroad which outlines a 10.5 year mine
life with total gold production of over one million ounces and average annual gold production of 124,000 ounces.
For more information, please refer to goldstandardv.com and see the news release dated June 13, 2022.
McCoy-Cove (1.5% + 2.0% NSR)
On July 21, 2022, i-80 Gold Corp. announced that the underground, advanced-exploration, program at the McCoy-Cove
project is progressing according to plan. The Cove mine portal has been collared and more than 300 metres of the decline has
been constructed. The Phase 1 program will include the construction of an initial level with multiple drill bays to provide
access for upgrading resources. Approximately 40,000 metres of underground definition and expansion drilling is anticipated
to commence in Q4 2022 followed by a feasibility study anticipated to be completed in 2023.
For more information, please refer to i80gold.com and see the news release dated July 21, 2022.
Panton (2.0% NSR on Platinum Group Metals (“PGM”))
On June 21, 2022, Future Metals NL (“Future Metals”) announced an updated mineral resource estimate for the Panton PGMNickel project (“Panton”) of 5.0 million ounces of palladium, platinum and gold and 238 thousand tonnes of nickel, at a grade
of 1.66 g/t palladium equivalent. The updated resource confirms the Panton deposit to be of a global scale and the second
largest PGM deposit in Australia. Future Metals continues to progress the metallurgy work at Panton and are able to move
towards a scoping study to make a preliminary assessment on the best path forward.
For more information, please refer to future-metals.com.au and see the news release dated June 21, 2022.
2022 Asset Handbook
Maverix has published its 2022 Asset Handbook, which provides detailed information on the Company’s diverse portfolio of
125 royalties and streams. The document is available on the Company’s website at maverixmetals.com.
Dividend
The Company is pleased to announce that its Board of Directors has approved the payment of the quarterly cash dividend of
$0.0125 per common share. The dividend will be paid on or about September 15, 2022, to shareholders of record as of the
close of business on August 31, 2022.
The dividend is designated as an “eligible dividend” for the purposes of the Income Tax Act (Canada). Dividends paid by
Maverix to shareholders outside Canada (non-resident investors) will be subject to Canadian non-resident withholding taxes.

The declaration, timing, amount and payment of future dividends remains at the discretion of Maverix’s Board of Directors.

Qualified Person
Brendan Pidcock, P.Eng., is Vice President, Technical Services for Maverix, and a qualified person under National Instrument
43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”), has reviewed and approved the scientific and technical
disclosure contained in this news release.
About Maverix
Maverix is a gold-focused royalty and streaming company with a globally diversified portfolio of over 120 assets. Maverix’s
mission is to increase per share value by acquiring precious metals royalties and streams. Its shares trade on both the NYSE
American and the TSX under the symbol “MMX”.
For further information, please visit our website at www.maverixmetals.com or contact:
Maverix Metals Inc.
Valerie Burns
Manager of Investor Relations
(604) 343-6225
info@maverixmetals.com