Royal Gold Prices 5.25 Million Share Common Stock Offering

Royal Gold, Inc. (NASDAQ:RGLD) (TSX:RGL) announced today that it
has priced its underwritten at-the-market public offering of 5.25
million shares of common stock. Shares of common stock were initially
reoffered by the underwriters at a price of $91.00 per share. The
offering is expected to close on October 15, 2012, subject to customary
closing conditions. Goldman, Sachs & Co. is acting as the sole
book-running manager for the offering, and HSBC Securities (USA) Inc.
and Scotia Capital (USA) Inc. are acting as lead managers.

Royal Gold intends to use the net proceeds of this offering for the
acquisition of additional royalty or similar interests and for general
corporate purposes.

The offering is being made pursuant to the Company's effective shelf
registration statement filed with the Securities and Exchange Commission
and a shelf prospectus filed with Canadian securities regulatory
authorities in all provinces other than Quebec under the
Multijurisdictional Disclosure System ('MJDS'). A preliminary prospectus
supplement relating to the offering has been filed with the Securities
and Exchange Commission. A shelf prospectus has been filed with the
securities regulatory authorities in Canadian Provinces other than
Quebec and a preliminary prospectus supplement has been filed with such
regulatory authorities under the MJDS. Once filed, copies of the
preliminary prospectus supplement and the base shelf prospectus relating
to the offering may be obtained by either contacting the following
underwriter or by accessing the Securities and Exchange Commission
website, www.sec.gov:

Goldman, Sachs & Co.

Attn: Prospectus Dept.

200 West St.

New
York, NY 10282-2198

Phone: 212-902-1171 or

Toll free:
866-471-2526

Fax: 212-902-9316

Email: Prospectus-ny@ny.email.gs.com

In Canada, a copy of the prospectus and prospectus supplement may be
obtained by either contacting the above underwriter or by accessing the
SEDAR website at www.sedar.com.

This news release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which the offer, solicitation
or sale would be unlawful prior to registration or qualification under
the securities laws of any such state or jurisdiction. The securities
being offered have not been approved or disapproved by any regulatory
authority, nor has any such authority passed upon the accuracy or
adequacy of the prospectus supplement, the prospectus or the Company's
shelf registration statement.

CORPORATE PROFILE

Royal Gold is a precious metals royalty company engaged in the
acquisition and management of precious metal royalties and similar
interests. As of June 30, 2012, the Company′s portfolio consists of 193
properties on six continents, including interests on 39 producing mines
and 26 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.?

Cautionary 'Safe Harbor' Statement Under the Private Securities
Litigation Reform Act of 1995: With the exception of historical matters,
the matters discussed in this press release include forward-looking
statements that involve risks and uncertainties that could cause actual
results to differ materially from projections or estimates contained
herein. Such forward-looking statements include statements regarding
future sales of common stock and the use of proceeds from such sales.
Factors that could cause actual results to differ materially from such
forward looking statements include, among others, precious metals
prices, economic and market conditions and the availability of
attractive acquisition opportunities, as well as other factors described
in our Annual Report on Form 10-K, and other filings with the Securities
and Exchange Commission. Most of these factors are beyond the Company's
ability to predict or control. The Company disclaims any obligation to
update any forward-looking statement made herein. Readers are cautioned
not to put undue reliance on forward-looking statements.

Royal Gold, Inc.

Karen Gross, 303-575-6504

Vice
President and Corporate Secretary