ORION MINE FINANCE PROVIDES UPDATE ON ITS BENEFICIAL OWNERSHIP OF COMMON SHARES OF SANDSTORM GOLD LTD.

TORONTO, Oct. 21, 2024 /CNW/ - Orion Mine Finance announced that Orion Mine Finance Fund II LP, a limited partnership managed by Orion Mine Finance Management II Limited, and Orion Mine Finance Fund III LP, a limited partnership managed by Orion Mine Finance Management III LLC (the foregoing entities collectively, "Orion"), sold on October 18, 2024 a total of 10,000,000 common shares (each a "Common Share") of Sandstorm Gold Ltd. ("Sandstorm") at a price of C$7.95 in cash per Common Share for aggregate gross proceeds of C$79,500,000 in a private transaction(the "Transaction").

Immediately prior to the Transaction, Orion and its affiliates (collectively, the "Orion Group") owned 45,271,170 Common Shares. Prior to the Transaction, on a partially diluted basis, Orion had a securityholding percentage of 15.22% (based on 297,387,780 Common Shares being outstanding). Following closing of the Transaction, Orion now holds 35,271,170 Common Shares. On a partially diluted basis, Orion has a securityholding percentage of approximately 11.86%, a decrease in its securityholding percentage of approximately 3.4% compared to immediately prior to the Transaction and 5.2% compared to its prior early warning report in respect of the Common Shares (based on 297,387,780 Common Shares being outstanding).

The Orion Group's disposition of Common Shares pursuant to the Transaction was made in the ordinary course of its business operations. The Orion Group has no current plan or intentions which relate to, or would result in, acquiring additional securities of Sandstorm, disposing of securities of Sandstorm, or any of the other actions requiring disclosure under the early warning reporting provisions of applicable securities laws. Depending on market conditions, the Orion Group's view of Sandstorm's prospects and other factors the Orion Group considers relevant, the Orion Group may acquire securities of Sandstorm from time to time in the future, in the open market or pursuant to privately negotiated transactions, or may sell all or a portion of its securities of Sandstorm.

This news release is being issued under the early warning reporting provisions of applicable securities laws. An early warning report with additional information in respect of the foregoing matters will be filed and made available under the SEDAR+ profile of Sandstorm at www.sedarplus.com . To obtain a copy of the early warning report, you may also contact Dov Lader, General Counsel of Orion Resource Partners (USA) LP at 212-596-3467. Orion Mine Finance Management II Limited's address is Cumberland House, 7th Floor, 1 Victoria Street, Hamilton HM11, Bermuda. Orion Mine Finance Management III LLC's address is 251 Little Falls Drive, Wilmington, Delaware, USA, 19808. Sandstorm's head office is located at Suite 1400 – 400 Burrard Street, Vancouver, BC, V6C 3A6.

Forward-Looking Information

Certain statements in the press release are forward-looking statements and are prospective in nature, including statements with respect to the Orion Group's future intentions regarding the securities of Sandstorm. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Such forward-looking statements should therefore be construed in light of such factors, and the Orion Group is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

SOURCE Orion Mine Finance Management II Limited

Rick Gashler, Chief Compliance Officer of Orion Resource Partners (USA) LP at 212-596-3497