Vox Royalty Corp. provided recent development and exploration updates from royalty operating partners Gold Standard Ventures Corp., Black Cat Syndicate Limited, Silver Mines Limited, Karora Resources Inc., ValOre Metals Corp. and Quantum Graphite Limited. Key Development Updates: Update on feasibility study, permitting and construction financing at the South Railroad gold project in Nevada by Gold Standard Ventures; First production guidance reiterated for H2 2022 at Bulong gold project by Black Cat; and Substantial drilling updates at the Bowdens silver project by Silver Mines, the Higginsville mine by Karora, the Pedra Branca platinum group metals ("PGM") project by ValOre, and the Uley graphite project by Quantum. South Railroad (Pre-Feasibility) ? Feasibility Study Expected first quarter of 2022: Vox holds a 0.633% net smelter royalty with advance minimum royalty payments over part of the South Railroad gold project, which is located in the prolific Carlin Trend of Nevada; Vox received initial advance minimum royalty payments of ~CAD 100,000 from the South Railroad royalty in October 2021; On November 10, 2021, Gold Standard Ventures announced: It anticipates that the feasibility study for the South Railroad project will be completed in first quarter of 2022; In-fill drilling results at the Pinion deposit indicates the possibility of converting approximately 350,000 contained ounces of gold for inclusion in the feasibility mine plan in Pinion Phases 4 and 5, expected to be majority royalty-linked based on historical disclosure by Gold Standard Ventures; Expected timing of the Record of Decision permit is anticipated to be in first quarter of 2023; and It anticipates commencing the construction capital financing process in conjunction with the release of the feasibility study in first quarter of 2022; Vox Management Summary: The South Railroad project is advancing in line with Vox management expectations based on due diligence completed for the royalty acquisition in June 2021. The majority of the additional ~350,000 ounces expected in Pinion Phases 4 and 5 are expected to be royalty-linked and to generate meaningful royalty revenue for Vox. 2022 promises to be a transformational year for South Railroad with the release of a feasibility study, construction financing process updates and permitting progress; Bulong (Pre-Construction) ? Production on Track for Second Half of 2022: Vox holds a 1% net smelter royalty over part of the Bulong gold project; On October 29, 2021, Black Cat announced: that it is in the process of securing all items needed at the processing facility to allow for production to commence in the second half of 2022; 89 holes were drilled at the royalty-linked Myhree deposit in third quarter of 2021 for a total of 3,217m of grade control drilling; and In fourth quarter of 2021 Black Cat's key planned activities are 20,000m of drilling targeting regional discoveries, resource upgrades and maiden ore reserves and the completion of a Pre-Feasibility Study. Vox Management Summary: Black Cat management continues to rapidly advance the Bulong project towards first production in 2022 alongside an aggressive +80,000m regional discovery drilling program. Management expects that Vox shareholders can look forward to a combination of development and discovery newsflow regarding this highly prospective gold project in Western Australia over the coming months. Substantial Drilling Updates: Bowdens Silver: Vox holds a 0.85% gross revenue royalty on the Bowdens silver-lead-zinc project and a 1% gross revenue royalty over surrounding regional exploration Tenure; On October 26, 2021, Silver Mines announced that drilling is to continue into 2022 with four diamond rigs operational targeting a maiden underground mineral resource and scoping study of underground mining scenarios; Higginsville Gold (Dry Creek): Vox holds a price-linked production royalty(1) that is equal to AUD 0.60/gram of gold produced at current gold prices (effective 0.85% net smelter return royalty economics) on part of the Higginsville gold mine held by Karora, covering part of the Hidden Secret, Mousehollow and Paleochannels deposits; On November 8, 2021, Karora announced that at Higginsville, resource definition drilling during third quarter of 2021 was focused on supporting life of mine objectives for the three active mining operations, including testing extensions to the Hidden Secret open pit and Mousehollow Mineral Resource, with results expected before the end of fourth quarter of 2021; Pedra Branca PGM: Vox holds a 1% net smelter royalty on the Pedra Branca PGM project; On October 20, 2021, ValOre announced that 19 holes were drilled totalling 2,204 metres, with a primary focus of resource expansion.