Sailfish to Monetize a Portion of the NSR on the Tocantinzinho Gold Project for US$9,000,000

TORTOLA, British Virgin Islands, March 15, 2021 - Sailfish Royalty Corp. (TSXV: FISH) (OTCQX: SROYF) (the "Company" or "Sailfish") is pleased to announce that it has entered into a royalty transfer agreement with Metalla Royalty & Streaming Ltd. ("Metalla") to transfer a 0.75% post-buy-down interest of the Company's up to 3.5% net smelter return royalty ("NSR") held on the Tocantinzinho gold project ("Tocantinzinho") located in northern Brazil (the "Transaction") for total consideration of US$9 million in cash (the "Purchase Consideration").

Cesar Gonzalez, Chief Executive Officer of Sailfish states that, "the monetization of a portion of the NSR on Tocantinzinho provides the funds necessary to execute on key strategic initiatives at Sailfish. Specifically, the net proceeds will be used to repay all debt outstanding, fund the purchase of approximately 1.1 million common shares remaining under the normal course issuer bid and provide the seed capital to successfully spinout the Gavilanes silver property into a separate publicly traded company."

The Transaction is expected to close on or before March 19, 2021 ("Closing Date"). The Purchase Consideration will be paid to Sailfish as follows: US$6 million on the Closing Date and US$3 million within 60 days from the Closing Date.

About Sailfish

Sailfish is a precious metals royalty and streaming company. Within Sailfish's portfolio are three main assets on advanced stage projects in the Americas: a gold stream equivalent to a 3% NSR on the San Albino gold project (~3.5 sq. km) and a 2% NSR on the rest of the area (~134.5 sq. km) surrounding San Albino in northern Nicaragua; an up to 3.5% NSR (2.75% NSR post-Transaction) on the Tocantinzinho gold project in the prolific Tapajos district of northern Brazil; and an up to 3% NSR on the multi-million ounce Spring Valley gold project in Pershing County, Nevada.

Sailfish is listed on the TSX Venture Exchange under the symbol "FISH" and on the OTCQX under the symbol "SROYF". Please visit the Company's website at www.sailfishroyalty.com for additional information.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary statement regarding forward-looking information
Certain disclosures in this release constitute "forward-looking information" within the meaning of Canadian securities legislation. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as the following: expects, plans, anticipates, believes, intends, estimates, projects, assumes, potential and similar expressions. Forward-looking statements also include reference to events or conditions that will, would, may, could or should occur, including, without limitation, statements regarding the Company's expectation that the San Albino gold project is nearing production, the repayment of the Company's indebtedness, the continuance of the Company's normal course issuer bid and the Company's plans for the spinout or monetization of the Gavilanes silver property. In making the forward-looking statements in this news release, the Company has applied certain factors and assumptions that the Company believes are reasonable, including that the San Albino gold project is nearing production, the repayment by the Company of its indebtedness, the continuance of the Company's normal course issuer bid and regarding the Company's plans for the spinout or monetization of the Gavilanes silver property. However, the forward-looking statements in this news release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including without limitation: that the San Albino gold project is not nearing production or will not achieve production at all, that the Company will not repay all of its indebtedness or continue to fund its normal course issuer bid from the proceeds of the Transaction and that the spinout or monetization of the Gavilanes silver property will not happen. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.

SOURCE Sailfish Royalty Corp.