Global Royalty owns a tiered royalty on McEwen Mining Inc.’s (“McEwen Mining”) (NYSE: MUX, TSX: MUX) El Gallo/Magistral mine in Mexico, currently paying a 3.5% net smelter royalty (NSR), and a 1.5% NSR royalty on Dynasty Metals & Mining, Inc.’s (“Dynasty”) (TSX: DMM) Zaruma gold mine in Ecuador. Both mines are currently in production and paying royalties. Global Royalty also has an option to acquire an additional 1.5% NSR on Zaruma (for a total of 3.0%), plus 1.0% NSR interests on Dynasty’s Jerusalem and Dynasty Goldfields projects in Ecuador, for an additional $5.0 million. Coeur Capital intends to exercise this option upon closing the Global Royalty transaction.El Gallo Complex 2 Under McEwen Mining’s ownership, El Gallo has been in production since September 2012 and reached commercial production on January 1, 2013. Global Royalty has received proceeds from McEwen totaling $1,117,227 since September 2012. The mine remains on track to meet its production guidance of 27,310 gold equivalent ounces in 2013. The El Gallo plant is currently being expanded from 3,000 to 4,500 tonnes per day. The expansion is ahead of schedule with completion expected at the end of Q1 2014. The increased capacity, combined with higher grades as mining moves deeper in the pit, is expected to increase production from 27,310 gold equivalent ounces in 2013, to 37,500 gold equivalent ounces in 2014 and 75,000 gold equivalent ounces by 2015. The royalty on the El Gallo mine is currently 3.5% until cumulative production of 350,000 ounces of gold equivalent production has been reached, of which approximately 275,000 ounces remain to be produced at this royalty rate. The royalty then decreases to 1.0% in perpetuity. To date 28,426 ounces of gold equivalent has been produced at El Gallo. Zaruma Project 3 The Zaruma project is in pre-commercial production, with processing of ore to doré at the Zaruma processing plant located in Zaruma, Ecuador. For the nine months ended September 30, 2013, Dynasty received proceeds of $23.3 million from the sale of approximately 15,245 ounces of processed gold and 45,409 ounces of processed silver derived from intermittent operations at its processing plant in Zaruma during the continued development of the Zaruma mines. Global Royalty Corp. has received proceeds from Dynasty totaling $565,082 since January 2012.