Royal Gold Announces Common Stock Offering

    DENVER, March 27 /CNW/ -- ROYAL GOLD, INC. (Nasdaq:   RGLD; Toronto: RGL)
announced today that it intends to offer 4,000,000 shares of its common stock
under Royal Gold's existing effective shelf registration statement filed on
Form S-3.  Royal Gold also intends to grant the underwriters a 30-day option
to purchase up to 600,000 additional shares of common stock to cover
over-allotments, if any.  The pricing of the offering is anticipated to occur
during the week of April 2, 2007.
    Royal Gold currently intends to use the net proceeds from the offering to
repay funds drawn under its line of credit, to fund future acquisitions and
for general corporate purposes.
    HSBC Securities (USA) Inc. is the global coordinator acting as joint
book-runner with Merrill Lynch, Pierce, Fenner & Smith Incorporated.  UBS,
J.P. Morgan and National Bank Financial are acting as co-managers.
    This offering may be made only by means of a prospectus supplement and
related prospectus.  A copy of the preliminary prospectus supplement, together
with the prospectus, will be filed with the U.S. Securities and Exchange
Commission ("SEC") and will be available on the SEC's website,
Once filed, copies of the preliminary prospectus supplement and the
accompanying prospectus may also be obtained by contacting:

    HSBC Securities (USA) Inc.
    Attn: Equity Syndicate
    452 Fifth Avenue
    New York, NY 10018

    Merrill Lynch, Pierce, Fenner & Smith Incorporated
    Attn: Prospectus Dep't
    4 World Financial Center
    New York, NY 10080

    This news release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which the offer, solicitation or
sale would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
    Royal Gold is the largest precious metals royalty company engaging in the
acquisition and management of precious metal royalty interests.  Royal Gold is
publicly traded on the NASDAQ Global Select Market under the symbol "RGLD,"
and on the Toronto Stock Exchange under the symbol "RGL."  Royal Gold's web
page is located at

    Cautionary "Safe Harbor" Statement Under the Private Securities
Litigation Reform Act of 1995:  With the exception of historical matters, the
matters discussed in this press release include forward-looking statements
that involve risks and uncertainties that could cause actual results to differ
materially from projections or estimates contained herein.  Factors that could
cause actual results to differ materially from forward looking statement
include, among others, precious metals prices, decisions and activities of the
operator of the property, unanticipated grade, geological, metallurgical,
processing or other problems the operator may encounter, changes in project
parameters as plans continue to be refined, economic and market conditions, as
well as other factors described in our Annual Report on Form 10-K, and other
filings with the Securities and Exchange Commission.  Most of these factors
are beyond Royal Gold's ability to predict or control.  Royal Gold disclaims
any obligation to update any forward-looking statement made herein.  Readers
are cautioned not to put undue reliance on forward-looking statements.

For further information:

For further information: Karen Gross, Vice President & Corporate
Secretary  of Royal Gold, Inc., +1-303-573-1660 Web Site:

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