Sandstorm Gold: Sandstorm Gold Royalties Reports Strong First Quarter Sales and Record Revenue, $19 Million in Share Buybacks; Financial Results May 6

In This Article: VANCOUVER, BC , April 8, 2025 /PRNewswire/ - Sandstorm Gold Ltd. ("Sandstorm Gold Royalties", "Sandstorm", or the "Company") (NYSE: SAND) (TSX: SSL) is pleased to report sales, revenue, and other preliminary figures for the first quarter ended March 31, 2025 (all figures in U.S. dollars). Sandstorm Gold Royalties Logo (CNW Group/Sandstorm Gold Ltd.) First Quarter Preliminary Results During the three months ended March 31, 2025 , the Company sold approximately 18,500 attributable gold equivalent ounces 1 and realized record preliminary revenue 2 of $50.1 million (20,316 attributable gold equivalent ounces and $42.8 million in revenue for the comparable period in 2024). The Company had record preliminary total sales, royalties, and income from other interests 1 of $54.1 million for the three months ended March 31, 2025 ( $42.8 million in total sales, royalties, and income from other interests for the comparable period in 2024). Preliminary cost of sales, excluding depletion 2 for the three months ended March 31, 2025 , was $6.9 million resulting in record cash operating margins 1 of approximately $2,507 per attributable gold equivalent ounce 1 ( $5.7 million and $1,782 per attributable gold equivalent ounce for the comparable period in 2024, respectively). Share Buybacks and Capital Allocation During the first three months of 2025, Sandstorm purchased and cancelled approximately 3.1 million of the Company's common shares (the "Common Shares") for total consideration of approximately $19.0 million . The Company believes that, at times, the market price of the Common Shares is not fully reflective of their intrinsic value, and repurchasing Common Shares under its normal course issuer bid represents a strategic use of available capital compared to other investment opportunities. The Company will continue to assess its capital allocation strategy with a focus on further share purchases and debt repayment, dependent on market conditions. As at March 31, 2025 , the outstanding balance on the Company's revolving credit facility was approximately $340 million with an undrawn and available balance of $285 million 2 . Release Date and Conference Call Details The Company will release its 2025 first quarter results on Tuesday, May 6, 2025 , after markets close. A conference call will be held on Wednesday, May 7, 2025 , starting at 8:30am PDT to further discuss the results. To participate in the conference call, use the following dial-in numbers and conference ID, or join the webcast using the link below: International: (+1) 437-900-0527 North American Toll-Free: (+1) 888-510-2154 Conference ID: 57797 Webcast URL: https://app.webinar.net/N3LYEBVEJqy Sandstorm Gold Royalties Logo (CNW Group/Sandstorm Gold Ltd.) Note 1 Sandstorm Gold Royalties has included certain performance measures in this press release that do not have any standardized meaning prescribed by International Financial Reporting Standards Accounting Standards ("IFRS Accounting Standards" or "IFRS") including (i) attributable gold equivalent ounces and (ii) cash operating margin. The presentation of these non-IFRS measures is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Other companies may calculate these non-IFRS measures differently. Note these figures have not been audited and are subject to change. i. As the Company's operations are primarily focused on precious metals, the Company presents attributable gold equivalent ounces as it believes that certain investors use this information to evaluate the Company's performance in comparison to other mining companies in the precious metals mining industry who present results on a similar basis. Attributable gold equivalent ounces is a non-IFRS financial ratio that uses total sales, royalties, and income from other interests as a component. Total sales, royalties and income from other interests is a non-IFRS financial measure and is calculated by taking total revenue which includes sales and royalty revenue, and adding contractual income relating to royalties, streams, and other interests excluding gains and losses on dispositions, which, during the first quarter of 2025, was comprised of a one-time $4 million payment received as per an option agreement with Vatukoula Gold Mines PTE Limited. Attributable gold equivalent ounces is calculated by dividing the Company's total sales, royalties, and income from other interests, less revenue attributable to non-controlling shareholders for the period, by the average realized gold price per ounce from the Company's gold streams for the same respective period ([$54.1 million - $0.8 million]/$2,880 for the three months ended March 31, 2025, and [$42.8 million - $0.9 million]/$2,062 for the comparable period in 2024) and may be subject to change. ii. The Company presents cash operating margin as it believes that certain investors use this information to evaluate the Company's performance and ability to generate cash flow in comparison to other companies in the precious metals mining industry who present results on a similar basis. Cash operating margin is calculated by subtracting the average cash cost per attributable gold equivalent ounce from the average realized gold price per ounce from the Company's gold streams (see item i above) for the same respective period. Average cash cost per attributable gold equivalent ounce is calculated by dividing the Company's cost of sales, excluding depletion, by the number of attributable gold equivalent ounces ($6.9 million/18,500 attributable gold equivalent ounces for the three months ended March 31, 2025, and $5.7 million/20,316 attributable gold equivalent ounces for the comparable period in 2024). Note 2 These figures have not been audited and are subject to change. As the Company has not yet finished its quarter-end close procedures, the anticipated financial information presented in this press release is preliminary, subject to final quarter-end closing adjustments, and may change materially. Contact Information For more information about Sandstorm Gold Royalties, please visit our website at www.sandstormgold.com or email us at info@sandstormgold.com . ABOUT SANDSTORM GOLD ROYALTIES Sandstorm is a precious metals-focused royalty company that provides upfront financing to mining companies and receives the right to a percentage of production from a mine, for the life of the mine. Sandstorm holds a portfolio of 230 royalties, of which 40 of the underlying mines are producing. Sandstorm plans to grow and diversify its low-cost production profile through the acquisition of additional gold royalties. For more information visit: www.sandstormgold.com . CAUTIONARY STATEMENTS TO U.S. SECURITYHOLDERS The financial information included or incorporated by reference in this press release or the documents referenced herein has been prepared in accordance with International Financial Reporting Standards Accounting Standards as issued by the International Accounting Standards Board, which differs from US generally accepted accounting principles ("US GAAP") in certain material respects, and thus are not directly comparable to financial statements prepared in accordance with US GAAP. This press release and the documents incorporated by reference herein, as applicable, have been prepared in accordance with Canadian standards for the reporting of mineral resource and mineral reserve estimates, which differ from the previous and current standards of the United States securities laws. In particular, and without limiting the generality of the foregoing, the terms "mineral reserve", "proven mineral reserve", "probable mineral reserve", "inferred mineral resources,", "indicated mineral resources," "measured mineral resources" and "mineral resources" used or referenced herein and the documents incorporated by reference herein, as applicable, are Canadian mineral disclosure terms as defined in accordance with Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and the Canadian Institute of Mining, Metallurgy and Petroleum (the "CIM") - CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council, as amended (the "CIM Definition Standards"). For United States reporting purposes, the United States Securities and Exchange Commission (the "SEC") has adopted amendments to its disclosure rules (the "SEC Modernization Rules") to modernize the mining property disclosure requirements for issuers whose securities are registered with the SEC under the Exchange Act, which became effective February 25, 2019. The SEC Modernization Rules more closely align the SEC's disclosure requirements and policies for mining properties with current industry and global regulatory practices and standards, including NI 43-101, and replace the historical property disclosure requirements for mining registrants that were included in SEC Industry Guide 7. Issuers were required to comply with the SEC Modernization Rules in their first fiscal year beginning on or after January 1, 2021. As a foreign private issuer that is eligible to file reports with the SEC pursuant to the multi-jurisdictional disclosure system, the Corporation is not required to provide disclosure on its mineral properties under the SEC Modernization Rules and will continue to provide disclosure under NI 43-101 and the CIM Definition Standards. Accordingly, mineral reserve and mineral resource information contained or incorporated by reference herein may not be comparable to similar information disclosed by United States companies subject to the United States federal securities laws and the rules and regulations thereunder. As a result of the adoption of the SEC Modernization Rules, the SEC now recognizes estimates of "measured mineral resources", "indicated mineral resources" and "inferred mineral resources.