Sailfish (TSX.V: FISH, OTCQX: SROYF) is pleased to announce that it has entered into a royalty transfer agreement with Osisko Gold Royalties (NYSE/TSX: OR) pursuant to which Sailfish has agreed to transfer to Osisko the remaining up to 2.75% of the Company’s net smelter return royalty (“NSR”) held on the Tocantinzinho gold project located in northern Brazil in exchange for US$10 million in cash

Cesar Gonzalez, Chief Executive Officer of Sailfish states that, “the net proceeds from the full monetization of the NSR on Tocantinzinho are expected to continue funding the aggressive return of capital to shareholders and provide flexibility to deploy capital opportunistically in other transactions. ”The Transaction is expected to close on or before August 22, 2021. The closing of the Transaction is subject to certain conditions precedent including, but not limited to, the receipt of required third-party consents.

About Tocantinzinho

Tocantinzinho is a permitted and construction-ready, open-pit gold project located in Para State, Brazil. The project hosts NI 43-101 compliant mineral inventory of 39Mt grading 1.42g/t gold for 1.78Moz of gold in proven and probable reserves derived from, and inclusive of 46Mt grading 1.37g/t gold for 2.03Moz of gold in the measured and indicated resource categories and 0.6Mt grading 0.90g/t gold for 17Koz of gold in the inferred resource category.

A feasibility study on the project was completed by Eldorado in 2015 and an updated technical report was published by the company in 2019 which outlines an expected mine life of 10 years with annual gold production of 170Koz at an all-in sustaining cost of US$615 per ounce. The royalty covers all known reserves and resources of the planned Tocantinzinho project as well as its surrounding 28,275 hectare land package.

The operator of Tocantinzinho has a one-time buydown option in relation to the royalty. At the time of project construction the operator may make a payment of US$5.5 million to reduce the royalty percentage by 2% resulting in a royalty of 0.75%. Pursuant to a pre-existing agreement entered into by Sailfish, the buydown payment is payable to the original royalty owners.

Sandeep Singh, President and CEO of Osisko commented: “We are pleased to gain exposure to a large, construction-ready gold project with upside potential at depth as well as its surrounding land package in an area of Brazil that hosts a number of operating mines.”

About Sailfish (TSX.V: FISH, OTCQX:SROYF)

Sailfish is a precious metals royalty and streaming company. Within Sailfish’s portfolio are three main assets in the Americas: a gold stream equivalent to a 3% NSR on the San Albino gold mine (~3.5 sq. km) and a2% NSR on the rest of the area (~134.5 sq. km) surrounding San Albino in northern Nicaragua; an up to2.75% NSR on the Tocantinzinho gold project in the prolific Tapajos district of northern Brazil; and an up to3% NSR on the multi-million ounce Spring Valley gold project in Pershing County, Nevada. Sailfish is listed on the TSX Venture Exchange under the symbol "FISH" and on the OTCQX under the symbol “SROYF". Please visit the Company's website at www.sailfishroyalty.com for additional information

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