An anonymous director reports

ROYAL ROAD ANNOUNCES C$10 MILLION BOUGHT DEAL FINANCING

Royal Road Minerals Ltd. has entered into an agreement with a syndicate of underwriters led by Stifel GMP, pursuant to which the underwriters will purchase, on a bought deal basis, 27.15 million ordinary shares of the company at a price of 37 cents per share for aggregate gross proceeds to the company of $10,045,500.

The Company has agreed to grant the Underwriters an over-allotment option to purchase up to an additional 4,072,500 Shares at the Offering Price, exercisable in whole or in part, at any time and from time to time on or prior to the date that is 30 days following the closing of the Offering to cover over-allotments, if any, and for market stabilization purposes. If this option is exercised in full, an additional C$1,506,825 in gross proceeds will be raised pursuant to the Offering and the aggregate gross proceeds of the Offering will be C$11,552,325.

The Company plans to use the net proceeds from the Offering to fund exploration expenditures at the Company's exploration projects in Nicaragua and Colombia as well as for working capital and general corporate purposes.

The Shares will be offered by way of a short form prospectus to be filed in all provinces of Canada, except Quebec. The Shares will also be sold to U.S. buyers on a private placement basis pursuant to an exemption from the registration requirements in Rule 144A of the United States Securities Act of 1933, as amended, and other jurisdictions outside of Canada provided that no prospectus filing or comparable obligation arises.

The Offering is scheduled to close on or about August 4, 2020 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange and the securities regulatory authorities.

We seek Safe Harbor.