The Pilar mine is currently owned and operated by Pilar Gold Inc., who purchased the mine from Equinox in April 2021.  Under the terms of the royalty, Pilar pays to Sandbox a 1% NSR, payable on a quarterly basis from the minerals (which includes all precious and base metals) produced from the property.

The Pilar mine is located in Goiás State in central Brazil, approximately 320 km from the federal capital of Brasilia. The Pilar mine consists of two underground mines feeding a 3,500 tonnes per day processing plant. The total land package consists of approximately 17,800 hectares and the project area is readily accessible by road and air. The primary underground mining methods are modified room and pillar and long hole open stoping. Pilar began commercial production in October 2014.   Measured and Indicated Mineral Resources, inclusive of Mineral Reserves as at May 31, 2018 totaled approximately 15.9 million tonnes, containing 1,191,000 ounces of gold (based on an average 2.33 grams per tonne gold cut-off grade). The above Information is sourced from a NI 43-101 technical report on the Pilar operations with an effective date of May 31, 2018 and dated March 26, 2020.

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