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Cobre Panama Panama Antamina Peru Vale Royalty Brazil
The mine is currently on preservation and safe management. Government discussions on future of the mine commenced in March 2025. PS&M plan approved by Government of Panama in May 2025.
Medium term production growth from crushing and conveying project. Regulatory approval in February 2024, extending approved mine life from 2028 to 2036.
Southeastern System contributions to the Royalty will start once a cumulative sales threshold of 1.7 Bt of iron ore has been reached, expected in 2025.
Antapaccay Peru Cascabel Ecuador
Coroccohuayco project could extend mine life to 27+
years. Community consultations in progress.
SolGold is evaluating options for earlier production from
open-pit and sub-level caving opportunities.
Candelaria Chile
Decision on potential expansion of UG operations expected at year end.
Condestable - Peru
Indicated timing based on operator guidance
P R O D U C I N G A S S E T N E W S ( c o n t . ) 3
R O Y A L T I E SDetour Lake Ontario Stillwater Montana Subika Ghana
2024 LOM plan and UG PEA released in June 2024 reflecting average production of 1 Mozpa from 2030 to 2043.
Excavation of exploration ramp expected to commence in Q2 2025 with permit to take water received April 2025.
Q4 2024 restructuring due to lower palladium price environment improves commercial viability, with anticipated S45X credits further underpinning sustainability. Production levels reduced by 200 koz from 2025.
Production expected to decrease relative to 2024 as mining activities in the Subika open pit are completed as planned in H2 2025. Increased investment in exploration and advanced projects at Subika Underground.
Tasiast Mauritania Macassa (Kirkland Lake) Ontario Séguéla Côte d'Ivoire
Mine expansion has achieved 24 ktpd. Kinross continues to study UG potential. Reserve of 110 koz declared at Fennec satellite deposit, covered by royalty.
Record quarterly production and underground development in Q1 2025. New paste plant on schedule for commissioning in Q2 2025. Exploration drilling targeting Lower/West SMC, SMC East and Main Break.
Kingfisher maiden Inferred Mineral Resource of 294 koz, open along strike and at depth. High grade exploration results at Sunbird remain open along strike.
Canadian Malartic Québec Magino Ontario Hemlo Ontario
UG development and shaft sinking activities at Odyssey progressing on schedule. Exploration drilling continued to extend East Gouldie to the east and extend the newly discovered, sub-parallel Eclipse zone. Both programs have the potential to increase resources on Franco-Nevada royalty claims.
Milling rates nearing planned levels (tpd), with detailed engineering advancing expansion to 12,400 tpd by mid-2026. Potential longer-term expansion to between 15,000 and 20,000 tonnes per day.
Significantly higher payment Q1 2025 as the NPI benefitted
from higher gold prices.
Bald Mountain Nevada Musselwhite Ontario
Kinross announced plans to proceed with mining at the Redbird pit after converting approximately 1 million oz of gold to reserves. Mining of Redbird Phase 1 & 2 will extend the mine life through 2031.
Indicated timing based on operator guidance
$25M exploration budget for 2025 to infill 1km down plunge beyond existing reserves and explore a further 2-3km of mineralized strike potential.
A D V A N C E D A N D E X P L O R A T I O N N E W S 4 R A M P - U P S C O N S T R U C T I O N
Posse (Mara Rosa)1 Brazil Salares Norte1 Chile Valentine Gold Newfoundland
Commercial production achieved in May 2024. Brownfield exploration budget of $36M for 2025. Q1 2025 production 16,000 ounces of gold, heavy rains impacted availability of higher grade zones and waste removal. Production expected to improve in H2 2025.
First gold poured in March 2024. Commercial levels of production set to be achieved in Q2 2025. UG option being studied for the mining of Agua Amarga deposit.
Pre-commissioning underway and first gold pour expected in early Q3 2025. Substantial progress on phase two expansion studies, accelerating planned throughput ramp-up from 4 Mtpa starting in 2029, to 5.4 Mtpa in 2029.
Greenstone1 Ontario Tocantinzinho1 Brazil Eskay Creek British Columbia
First gold poured in May 2024. Full production rate anticipated in H2 2025. Between 300,000 to 350,000 ounces of gold expected in 2025.
First gold poured in July 2024. Continues to ramp-up toward nameplate capacity. Forecasted production expected to range between 170,000 to 200,000 ounces in 2025.
Skeena secured US$750M financing package in June 2024, allowing project advancement pre-permitting. Joint Permit Application filed and expecting receipt of Environmental Assessment Certificate in Q4 2025.
Indicated timing based on operator guidance
1. Assets currently producing
Paul Brink, CEO of Franco-Nevada Corporation and Louis-Pierre Gignac, CEO of G Mining Ventures at Tocantinzinho Grand Opening in Brazil
A D V A N C E D A N D E X P L O R A T I O N N E W S ( c o n t . ) 5
D E V E L O P M E N T U P D A T E S E X P L O R A T I O N U P D A T E SStibnite Gold Idaho Crawford Ontario South Railroad Nevada
In 2025, all outstanding federal permits have been received for the project. Perpetua is evaluating financing opportunities and submitted a $2B application to the U.S. Import-Export Bank in May.
M&I Mineral Resource doubled. Key investors as of March 2025 include Agnico Eagle (11%), Samsung SDI (8.7%), Anglo American (7.6%) and a $20 million Investment by Taykwa Tagamou Nation.
Drill holes testing the extension of the North Bullion deposit and Skarn-type targets returned significant mineralization, setting the stage for high-priority follow up drilling in 2025.
Copper World Project Arizona Fenelon/Martinière Québec Rogozna Serbia
The project has now received all major permits required for development and operation. Feasibility study to be advanced in 2025 with completion and sanctioning decision expected in 2026.
Updated Fenelon PEA released March 2025 outlining 16-year mine life at an average of 107 koz Au per year, with 127 koz Au per year for the first five years.
Significant increase to the Inferred Mineral Resource Estimate (MRE) for the Shanac deposit. Total Rogozna Project Resources now stand at 7.4 Moz AuEq Inferred Mineral Resource. Strategic placement (2.4%) by Zijin.
Super Pit (Western Lease) Australia Scottie British Columbia
KCGM A$1.5B mill expansion to 27Mtpa in 2029. FNV holds a 2.5% NSR over the Western Lease area, which is now included in the Super Pit shell.
FNV acquired a 2% royalty on >600 km2 covering the Scottie Gold project in the Golden Triangle in April 2024.
Existing mine permit is in place. Located 23 km North of
Ascot Resources Premier mill.
Calcatreu Argentina
Final construction permits received in November 2024.
$40M financing completed June 2025.
Indicated timing based on operator guidance
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Franco-Nevada Corporation published this content on June 03, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on June 03, 2025 at 02:07 UTC.
