Triple Flag Closes US$550 million Gold and Silver Stream on CMOC's Northparkes Mine

TORONTO, July 17, 2020 - Triple Flag Precious Metals Corp. ("TFPM") is pleased to announce the closing of the acquisition, by its wholly-owned subsidiary, Triple Flag Mining Finance Bermuda Ltd. ("Triple Flag Bermuda" and collectively with TFPM, "Triple Flag"), of a gold and silver stream agreement with certain subsidiaries of China Molybdenum Co., Ltd. (collectively, "CMOC"), to receive gold and silver deliveries determined by reference to production from the Northparkes copper-gold mine located in New South Wales, Australia. Northparkes is operated by CMOC on behalf of the Northparkes Joint Venture, an unincorporated joint venture between CMOC (80%), SC Mineral Resources Pty Ltd. (6.7%) and Sumitomo Metal Mining Oceania Pty Limited (13.3%). Triple Flag Bermuda has made an upfront cash payment of US$550 million and will make on-going payments equal to 10% of the spot gold price and spot silver price at the time of delivery for gold and silver equal to 54.0% of the gold and 80.0% of the silver produced at Northparkes.

Full details of the transaction can be found in Triple Flag's news release dated July 12, 2020.

About Triple Flag

Triple Flag is a precious metals streaming and royalty company offering bespoke financing solutions to the metals and mining industry. Our mission is to be a sought-after, long-term funding partner to mining companies throughout the commodity cycle while generating attractive returns for our investors. Since our inception in 2016, we have rapidly developed a diversified portfolio of streams and royalties providing exposure primarily to gold and silver in the Americas and Australia. With the addition of Northparkes, we now have 40 assets, comprising 9 streams and 31 royalties. These investments are tied to mining assets at various stages of the mine life cycle, including 10 producing mines, 2 mines that are ramping up, 3 mines that have had operations temporarily suspended amidst the COVID-19 pandemic, and 25 development and exploration-stage projects.

SOURCE Triple Flag Precious Metals Corp.