TSXV:VOX   VOX ROYALTY CORP
First Quarter 2021 Highlights

• Record revenue of $539,980 and gross profit of $479,271 reported for the quarter, with inaugural revenues received from
the Koolyanobbing royalty;

• Increased producing royalty asset count from one asset at May 2020 listing to four assets by Q1 2021 quarter-end;

• Strong balance sheet position at period end, including cash on hand of $10,723,135, working capital of $9,117,150 and
total assets of $29,024,889;

• Completed three portfolio transactions to acquire an additional ten royalties, reaching a total critical mass of 50 royalties
and streams;

• Completed an overnight marketed public offering for aggregate gross proceeds of C$16.85M;

• Subsequent to March 31, 2021:
- Announced a strategic partnership with Electric Royalties Limited (TSX-V: ELEC ) and the potential
divestment of two non-core graphite royalties for C$2.9M; and
- The Company appointed PricewaterhouseCoopers LLP as their auditors effective April 30, 2021.


About the Koolyanobbing Royalty
The Koolyanobbing royalty is an uncapped royalty of 2% on the average/tonne Free on Board ("FOB") sales value of iron ore extracted from the Deception Deposit on mining lease M77/1258.
Prior to Vox acquiring the Koolyanobbing royalty from Vonex Limited ("Vonex") in 2020, a historical pre-payment of the royalty in the sum of A$3,000,000 was made by Cliffs Asia Pacific Iron Ore Pty Ltd to Vonex. As previously disclosed in Vox's filing statement dated May 12, 2020, no royalty cash flows are payable to Vox until this pre-payment amount has been exhausted. The outstanding balance as of December 31, 2020, was A$1,782,032.

Vox has entered into a binding agreement with Yilgarn Iron Pty Ltd pursuant to which Vox will extinguish the outstanding balance of the Koolyanobbing pre-payment through a cash payment of A$1,782,032 within five business days from the execution date of the agreement. Following payment of the settlement amount, effective January 1, 2021, Vox will earn royalty revenues from the Koolyanobbing royalty.
Royalty revenues associated with the Koolyanobbing (Deception Pit) royalty over the past two years and forecast for 2021 are as follows:
2019 = $724,198
2020 = $493,769
2021 Forecast = $600,000 – $800,000

The Deception Pit and the Altair Pit to the north are currently being mined at a rate of 1.1Mtpa – 1.3Mtpa. Historical royalty attributable annual production on the Vox royalty tenure (M77/1258, see Figure 2) has averaged 180,000t – 360,000t and Vox management expect this royalty attributable production rate to increase in coming years as mining transitions further north within M77/1258.

For more information on Koolyanobbing, please visit the Mineral Resources website at: https://www.mineralresources.com.au/our-...

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