Royal Gold Expands and Extends Revolving Credit Facility

Royal Gold, Inc. (NASDAQ:RGLD) (TSX:RGL) today announced that it
has amended and restated its revolving credit facility ('Revolver?) to
provide maximum availability of $350 million, and to extend the maturity
date to May 30, 2017. The Revolver is provided by HSBC Bank USA,
National Association, The Bank of Nova Scotia, and Goldman Sachs Bank
USA.

Key modifications to the Revolver include: 1) an increase in the maximum
principal balance from $225 million to $350 million; 2) the addition of
an accordion feature permitting Royal Gold to increase the availability
under the Revolver at any time by up to an aggregate of $50 million,
with no amendments or additional fees, upon the satisfaction of certain
conditions including obtaining commitments from the banks to
participate; and 3) an extension of the final maturity date from
February 2014 to May 30, 2017. There are no changes to the commitment
fee of 0.375% or the current interest rate on the Revolver of LIBOR plus
1.75%.

Tony Jensen commented, 'The amended Revolver reflects the growth Royal
Gold has achieved. The increased size and expanded term of the Revolver
provides us with enhanced liquidity and financial flexibility,
positioning us well for future opportunities.?

Royal Gold is a precious metals royalty company engaged in the
acquisition and management of precious metal royalties and similar
interests. The Company′s portfolio consists of 193 properties on six
continents, including interests on 39 producing mines and 25 development
stage projects. Royal Gold is publicly traded on the NASDAQ Global
Select Market under the symbol 'RGLD? and on the Toronto Stock Exchange
under the symbol 'RGL.? The Company′s website is located at www.royalgold.com.

Royal Gold, Inc.

Karen Gross, 303-575-6504

Vice
President and Corporate Secretary