IMPORTANT NOTICE - TERMS OF USE

This website (the "Website") is an online information service provided by the Royal Canadian Mint (the "Mint") in respect of its Canadian Gold Reserves Program (the "Program") and the exchange-traded receipts (the "ETRs") issued thereunder. This Website is provided for the sole purpose of assisting holders of ETRs and prospective purchasers of ETRs in making an investment decision with respect to the ETRs. The use of this Website by you is subject to your compliance with the Website Agreement, the terms and conditions of which are set forth in more detail here.

Nothing on this Website constitutes a solicitation or offer by the Mint to sell the ETRs or any other securities issued by the Mint under the Program. The Mint intends for the contents of this Website to be accurate and reliable, however, since the content has been compiled from a variety of sources, this Website and the contents herein are provided to you on an "as is" and "as available basis". The Information Statements available on this Website are current as of the date set out therein and, in providing the Information Statements, the Mint does not represent or create any implication that there has been no change in the affairs of the Mint since the date set out therein. No securities commission or similar authority has in any way passed upon the merits of the ETRs or the contents of this Website; any representation to the contrary may be an offence.

An investment in ETRs involves a degree of risk; losses may be incurred both as a result of gold price diminution and if any price gains do not exceed applicable fees described herein. An investor could lose all or a significant portion of his or her investment in the ETRs. Accordingly, the investment may not be suitable for persons unfamiliar with the gold market, or unwilling or unable to bear the risk attendant to a security of this type. ETR holders will have no recourse to the Mint or the Government of Canada for any loss on their investment. Prospective investors should consider carefully the factors set out in the relevant Information Statement under "Risk Factors" before reaching a decision to buy ETRs.

The information provided on this Website is intended for informational purposes only and is not intended to constitute investment, financial, legal, tax or accounting advice, and you should not rely on the information in this Website for such advice. Holders of ETRs and prospective purchasers should directly consult their financial professional or other advisors before acting on any information on this Website.

The ETRs may not be offered or sold in any jurisdiction outside of Canada except in circumstances which do not constitute a public offering or distribution under the laws of the jurisdiction where the ETRs are to be offered or sold. Prospective purchasers who are not resident in Canada should contact their financial advisor to determine whether the ETRs referred to on this website may be lawfully sold in their jurisdiction. The ETRs have not been and will not be registered under the United States Securities Act of 1933 and may not be offered or sold within the United States or to, or for the account or benefit of, United States persons.

By clicking on "I Agree" (below) you expressly acknowledge having read, understood and accepted the terms and conditions of the Website Agreement and assume full responsibility for your decision to proceed to the Website.