Our fiscal 2012 principal properties were determined by historical and future potential revenues, upon consideration of reserves, production estimates and mine lives

Property	Operator	Revenue	Royalty	Production 1	Reserves 2
Holt Canada, Ontario	St Andrew Goldfields	$15.0M	0.00013 x average monthly gold price - NSR (sliding-scale)	41,166 oz. gold	0.4M oz. gold
Mulatos 3 Mexico, Sonora	Alamos	$13.8M	1.0% to 5.0% NSR (sliding-scale)	169,268 oz. gold	2.4M oz. gold
Cortez United States, Nevada	Barrick	$13.2M	0.40% to 5.0% GSR1 & GSR2 (sliding-scale); 0.71% GSR3; 0.39% NVR1	116,672 oz. gold	5.5M oz. gold
Robinson United States, Nevada	KGHM	$11.7M	3.0% NSR	31,029 oz. gold  105.3M lbs. copper	0.8M oz. gold 1.3B lbs. copper
Leeville United States, Nevada	Newmont	$9.2M	1.8% NSR	305,059 oz. gold	0.9M oz. gold
Canadian Malartic Canada, Quebec	Osisko	$7.1M	1.0% to 1.5% NSR (sliding-scale)	297,545 oz. gold	4.8M oz. gold
Las Cruces Spain, Andalucía	Inmet	$6.4M	1.5% NSR	119.1M lbs. copper	1.8B lbs. copper
Dolores Mexico, Chihuahua	Pan American Silver	$5.3M	3.25% NSR (gold); 2.0% NSR (silver)	61,203 oz. gold 105.5M oz. silver	1.8M oz. gold  105.5M oz. silver
Wolverine Canada, Yukon Territory	Yukon Zinc	$2.2M	0.0% to 9.445% NSR (sliding-scale)	1,296 oz. gold  1.0M oz. silver	0.2M oz. gold  39.5M oz. silver

 

1. Reported production relates to the amount of metal sales that are subject to our royalty interests for the fiscal year ended June 30, 2012, as reported to us by the operators of the mines.
   
2. Reserves have been reported by the operators as of December 31, 2011.
   
3. See footnote 8 related to the producing properties table.