Royal Gold Has 42% Increase In Revenue For The Quarter 

DENVER, CO - Tony Jensen, President and CEO of Royal Gold, said, Our record financial results are now reflecting the many investments we have made over the past several years, as well as strong metals prices. We anticipate further production increases over the next few quarters from Andacollo, Peûasquito, Holt, Las Cruces and Canadian Malartic as they all work to achieve full design capacity. And, construction at two key development properties, Pascua-Lama and Mt. Milligan, remains on schedule. We expect these properties to play a significant role in driving future growth.

The 42% increase in revenue for the quarter was largely driven by higher average gold and other metal prices, significantly increased production at our cornerstone properties, including Andacollo, Voisey's Bay and Peûasquito, and new revenue from Holt and Canadian Malartic. The average price of gold for the first fiscal quarter was $1,702 per ounce compared with $1,227 per ounce for the comparable period, representing a 39% increase.

As of September 30, 2011, the Company had a working capital surplus of $148.5 million. Current assets were $184.5 million (including $123.4 million in cash and equivalents), compared to current liabilities of $36.0 million, resulting in a current ratio of 5 to 1. In addition to available working capital, the Company had $155 million available under its revolving line of credit. Total debt outstanding under the Company's credit facilities was $192.2 million as of September 30, 2011.

The company's address is 1660 Wynkoop St., Suite 1000, Denver, CO 80202, 303-575-6504, email: [email protected].