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Environmental Health and Safety Policy Corporate Responsibility Royal Gold is committed to preserve and protect the environment, promote the health and safety of its employees and be an exemplary corporate citizen. The Company’s Environmental, Health and Safety Policy specifies that any mineral exploration programs it may conduct are performed in compliance with all the health, safety and environmental laws and regulations in the communities in which the Company operates; that the Company will apply responsible standards and best practices; and that the Company will require its employees and contractors to meet or exceed such performance standards. Likewise, we expect the operators of the properties over which we hold royalties to strive for responsible mining.
 Reclamation at Bald Mountain — White Pine County, Nevada In keeping with the basic tenants of the Company’s Environmental Health and Safety Policy, Royal Gold sold a 305-acre group of mining claims in the spring of calendar 2003 to the Trust for Public Land in connection with the Red Mountain Project. The Red Mountain Project is an initiative to protect 10,500 acres of private land in the heart of the San Juan Mountains between Ouray, Silverton and Telluride, Colorado. Through the acquisition of land from willing sellers, such as Royal Gold, the Red Mountain Project aims to conserve the Red Mountain area from development, protect the wildlife habitat, and preserve a number of historic mining structures and homes that are important to the history of Red Mountain and Colorado. At present, all land within the Red Mountain Project is under management by the United States Forest Service. |
