Royalty Holdings

Hammerdown Mine - Au - Newfoundland

Commander holds a 1% N.S.R. on any future production from the Hammerdown Mine. The Hammerdown mine is held by Maritime Resources.

Storm Cu and Seal Zn - Nunavut

Commander holds a 0.875% GOR (Gross Over-riding Royalty) on production from the Storm copper and Seal zinc properties that are optioned to Aston Bay.

Tam/Misty property – Cu-Au – Omineca B.C.

The property lies adjacent to the Lorraine property in north central B.C. all owned by North West Copper.

Despinassy – Au – Quebec

0.5% to 1.0% NSR on Clarity Gold's Destiny gold project in Quebec.

Indicated resource of10.8 million tonnes at an average grade of 1.05 g/t (364,000 contained ounces) plus 8.3 million tonnes Inferred (247,000 contained) at a cut-off grade of 0.5 g/t gold. (Resource estimate by Todd McCracken, P.Geo. of Tetra Tech (Wardrop, 2011)

Boundary Zone – Cu, Au – BC

Royalty on milled tonnes at the Boundary Zone, Imperial Metals Mt Polley Mine. 90% interest in $2.50/tonne milled for first 400,000 tonnes dropping to $1.25/T thereafter. Mine plan schedules this for 2026.

Baffin Island - Au - Nunavut

0.25% to 0.5% NSR on Baffin Gold Project, Nunavut (Valore). 4000 sq. km covering Proterozoic greenstone belt.