Summit Royalty Corp. ("Summit" or the "Company"), a private royalty and streaming company, is pleased to announce the successful acquisition of a portfolio of cash flowing royalties and stream (the "Portfolio") from IAMGOLD Corporation (NYSE:IAG) (TSX:IMG) and its affiliates (collectively, "IAMGOLD") for total consideration of $17.5 million. Unless otherwise indicated, all $ amounts are expressed in US dollars.

Key Portfolio Assets

The key assets in the Portfolio include:

• Bomboré Silver Stream (Ganzourgou Province, Burkina Faso) – a 50% silver stream on the operating Bomboré Mine owned and operated by Orezone Gold Corporation;
• Pitangui Royalty (Minas Gerais, Brazil) – an $80/oz production royalty on the first 250 Koz of gold sold, and a 1.5% NSR royalty thereafter on the Pitangui project currently under development by Jaguar Mining Inc.;
• Zancudo Royalty (Titiribi, Colombia) – a 0.5% NSR royalty on the operating Zancudo Mine owned and operated by Denarius Metals Corp.; and
• Lavras do Sul Royalty (Rio Grande do Sul, Brazil) – a 3.0% NSR royalty on the over 5,000 Ha Lavras do Sul project owned by Lavras Gold Corp.

Acquisition and Financing Terms

Summit acquired the Portfolio comprising seven royalties and one stream from IAMGOLD through a purchase and sale agreement for total consideration of $17.5 million comprising cash consideration of $10 million and common shares of Summit (each, a "Share") valued at $7.5 million.

To satisfy the $10 million of cash consideration, Summit successfully raised over $13 million through a non-brokered private placement comprised of leading institutions and sophisticated retail investors.