Royal Gold Increases Common Stock Dividend 33% to $0.80 per Share

Royal Gold, Inc. (NASDAQ:RGLD) ?(TSX:RGL), today announced
that its Board of Directors increased the Company′s annual dividend for
its shares of common stock from $0.60 to $0.80, payable on a quarterly
basis of $0.20 per share. The newly declared dividend is 33% higher than
the dividend paid in calendar year 2012. Royal Gold has steadily
increased its annual dividend since 2001.

The Board declared the dividend of $0.20 per share will be payable on
January 18, 2013, to shareholders of record at the close of business on
January 4, 2013. The quarterly dividend of US$0.20 is also payable to
holders of exchangeable shares of RG Exchangeco.

Tony Jensen, President and CEO, said, 'This marks the 12^th
consecutive year of annual dividend increases by the board. This latest
increase reflects the Company′s strong cash flow growth while balancing
our resources to create additional long-term value.?

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 204 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.? The Company′s website is located at www.royalgold.com.

Royal Gold, Inc.

Karen Gross

Vice President and Corporate
Secretary

303-575-6504