Bear Creek Mining Corporation (TSXV:BCM) agreed to acquire Mercedes gold-silver mine in Mexico from Premier Gold Mines Limited on December 16, 2021. Under the terms, Bear Creek will pay $75 million in cash and will issue 24.7 million shares subject to a statutory four month hold period, at closing and $25 million on or before the six-month anniversary of the Closing Date. Sandstorm Gold Ltd. ("Sandstorm Gold Royalties", "Sandstorm" or the "Company") (NYSE: SAND) (TSX: SSL) is pleased to announce that the Company has entered into a $60 million financing package (the "Transaction") with Bear Creek Mining ("Bear Creek") to facilitate Bear Creek's in this acquisition. The financing package includes a $37.5 million gold stream (the "Stream"), together with a $22.5 million convertible debenture. The transaction is subject to Anti-Trust Approvals. The Transaction is expected to close by March 31, 2022. As of January 26, 2022, the TSX Venture Exchange has granted its conditional approval for the acquisition, as well as for: (i) the Company's gold purchase agreement (the “Gold Purchase Agreement”) with Sandstorm Gold Ltd. (“Sandstorm”), pursuant to which Sandstorm will provide the Company with $37.5 million and in exchange Bear Creek will sell to Sandstorm 600 ounces of refined gold per month for 42 months (a total of 25,200 ounces) at a price equal to 7.5% of the spot gold price at the time of delivery and thereafter the Company will sell to Sandstorm 4.4% of gold produced by Mercedes at a price equal to 25% of the spot price at the time of delivery; and (ii) the private placement by the Company to Sandstorm of a 6%, three-year convertible debenture (“Convertible Debenture”) having a principal amount of $22.5 million. The acquisition, the Gold Purchase Agreement and the Convertible Debenture private placement are expected to close during the first quarter of 2022, subject to customary closing conditions, including final approval from the TSXV and Mexican authorities. As of March 31, 2022, the deal has been approved by the Mexican authorities. Bear Creek expects to receive anti-trust approval in April 2022. The outside date for the completion of the acquisition has been extended by the two companies to April 30, 2022. Keefe, Bruyette & Woods, Inc. advised, and provided a fairness opinion to,Bear Creek Mining Corporation.

Bear Creek Mining Corporation completed the acquisition of Mercedes gold-silver mine in Mexico from Premier Gold Mines Limited on April 21, 2022. On closing of the transaction, Premier acquired ownership and Equinox acquired control of 24,730,000 Bear Creek Mining Shares, representing approximately 16.6% of the issued and outstanding Bear Creek Mining Shares after giving effect to the Transaction. Fred Pletcher of Borden Ladner Gervais LLP acted as legal advisor to Bear Creek Mining Corporation.