Vox Royalty Corp. provided recent development and exploration updates from royalty operating partners ValOre Metals Corp., Genesis Minerals Limited, Norwest Minerals Limited, Zijin Mining Group Co., Ltd, and Kalamazoo Resources Limited. Key Development Updates: 106% increase in mineral resource at the Pedra Branca platinum group elements ("PGE") project by ValOre; Maiden Puzzle North gold resource estimate and positive feasibility metallurgical test work at Kookynie by Genesis; 113% increase in gold resource estimate at the Bulgera gold project by Norwest; Construction well progressed and production targeted for second half of 2022 at the Janet Ivy Mine expansion Binduli North project by Zijin Mining subsidiary Norton Gold; and Outstanding metallurgical gold recoveries and commencement of a development scoping study at the Ashburton gold project by Kalamazoo.

Pedra Branca (Preliminary Economic Assessment – Brazil) – +100% Increase in Mineral Resource to 2.2Moz PGE: Vox holds a 1% net smelter return royalty over the Pedra Branca PGE project in Brazil; On March 24, 2022, ValOre announced an updated National Instrument 43-101 – Standards of Disclosure for Mineral Projects inferred mineral resource estimate, with highlights including: 2.198Moz palladium + platinum + gold ("2PGE+AU") in 63.6Mt grading 1.08g/t 2PGE+AU; 106% increase to the 2019 inferred mineral resource; C$6.1M spent on exploration and development since 2019 resource; 17,434m have been drilled since 2019; Extensive growth potential remains at Massapê, Santo Amaro, Trapia, and Cedro, in addition to advanced exploration targets property-wide; and Regional exploration by Trado drilling continues to advance new prospects to reverse circulation ("RC") or core drill targets. Vox Management Summary: The ValOre team are to be congratulated for doubling the size of the Pedra Branca PGE resource to a globally-significant 2.2Moz. Given how shallow the current resource estimate is, Vox management expects further resource growth potential for this exciting, royalty-linked PGE project.

Kookynie (Pre-Feasibility – Western Australia) – Maiden Puzzle North Resource & Positive Metallurgical Test Work: Vox holds a A$1/t production royalty(2) on part of the Kookynie gold project in Western Australia; On March 29, 2022, Genesis announced a substantial resource update(3) for the Ulysses/Leonora Gold Project ("Leonora"), with highlights including: Total Mineral Resource at Leonora has grown to 2.0Moz, up 409,000oz or 25% from 1.6Moz as at 31 March 2021; Recent shallow Puzzle North discovery contributed maiden resource of 6.1Mt @ 1.2g/t for 232,000oz, with further growth anticipated; Total combined Puzzle North and Puzzle resource stands at 5,765Kt @ 1.1g/t for 204,000oz Indicated and 2,950Kt @ 1.1g/t for 107,000oz Inferred at a 0.5g/t cut-off grade; Exploration in 2022 will target depth and strike extensions to Puzzle and Puzzle North, including the untested "Puzzle Gap"; and Metallurgical test work has been carried out as part of the Leonora feasibility study at Puzzle North and Puzzle confirming that the ore is amenable to conventional cyanide leaching. Ongoing test work by Genesis has confirmed gold recoveries from primary ore to be ~90% to 95%. Vox Management Summary: The Puzzle North gold deposit has been fast-tracked from initial discovery in April 2021 to an initial resource estimate and feasibility-stage metallurgical test work, with upside in the untested "Puzzle Gap" zone expected in 2022.

Vox management believes there is growing potential to generate over a 50x revenue multiple on its 2020 Kookynie royalty investment (assuming at least 5Mt can be mined from royalty-linked deposits). Bulgera (Exploration – Western Australia) – +100% Increase in Gold Resource Estimate: Vox holds a 1% net smelter return royalty over the Bulgera gold project in Western Australia; On March 16, 2022, Norwest announced: The Bulgera gold resource estimate increased 113% to 5.1Mt @ 1.2g/t gold for 200,130 ounces; RC and diamond drilling conducted in 2021 intersected wide zones of gold mineralisation to extend the main lode beyond 500m down dip of the shallow Bulgera open pit; Bulgera gold mineralisation has high recovery (up to 98%) and low-cost processing characteristics; and Norwest is to commence deep RC drilling for additional gold bearing shear zones in the highly mineralised Bulgera gold project area. Vox Management Summary: The estimated resource at Bulgera has doubled in size since Vox acquired its royalty in early 2021 and initial metallurgical test work indicates that it will be amenable to low-cost processing.

Oxide ore from Bulgera was last processed at the nearby Plutonic gold mine in 2004, and given the haul road remains in place, credible near-term development options are available for Bulgera.