Nations Royalty Business Summary

Nations Royalty Corp. (NRYCF) operates as Canada’s first majority Indigenous-owned publicly traded royalty company, specializing in the acquisition and management of Indigenous Benefit Agreement (IBA) payments, royalties, and commodity streams. The company’s revenue model is centered on pooling financial entitlements from resource projects to unlock the net asset value (NAV) multiples typically afforded to established royalty firms. Its primary business segments are categorized by its interests in high-tier Canadian mining assets, including the producing Brucejack gold mine (operated by Newmont) and advanced-stage projects such as the Premier, Red Mountain, KSM, and Kitsault deposits. Within the competitive landscape, Nations Royalty occupies a unique niche as a first-mover in Indigenous-owned royalties, positioning itself against traditional peers like Vizsla Royalties Corp., Metalla Royalty & Streaming Ltd., and Sandstorm Gold Ltd. by leveraging unparalleled access to untapped Indigenous-held royalty assets in safe jurisdictions. The leadership team is anchored by President and CEO Derrick Pattenden, a member of the Mohawks of the Bay of Quinte First Nation and a CFA with over 15 years of mining M&A experience, who succeeded founder Robert McLeod in January 2026. McLeod, a veteran geologist and entrepreneur, remains a key Director alongside CFO Josh Kierce and VP of Corporate Development Kody Penner. The company’s board features significant industry pedigree, including Alex Morrison, the former CFO of Franco-Nevada, and Indigenous leaders Edward Clayton and Saga Williams. Nations Royalty is backed by the Nisga’a Nation as its majority shareholder and maintains a high-profile advisory board that includes renowned mining financier Frank Giustra and Dolly Varden Silver CEO Shawn Khunkhun.