Gold Royalty Corp. shares rise 2.25% intraday after Summit Royalty Corp. announced a $9.9 million acquisition of a 1.0% NSR royalty on the Madsen Project.

Gold Royalty Corp. rose 2.25% in intraday trading, with the company announcing that Summit Royalty Corp. has entered into a definitive agreement to acquire an existing 1.0% net smelter return ('NSR') royalty on the producing Madsen Project from a Fund managed by Sprott Resource Lending Corp. for total consideration of $9.9 million. Madsen is located in the prolific Red Lake mining district of Ontario and is 100% owned and operated by West Red Lake Gold Mines Ltd.