'Good Things Come in Threes': Three Buy Ratings on Three Mining Companies

Disclosures from Resource Maven, Sept. 6, 2017

Companies are selected based solely on merit; fees are not paid.

The publisher, owner, writer or their affiliates may own securities of or may have participated in the financings of some or all of the companies mentioned in this publication.

Disclosures from ROTH Capital Partners, Great Panther Silver Limited, Company Note, Sept. 5, 2017

Regulation Analyst Certification ("Reg AC"): The research analyst primarily responsible for the content of this report certifies the following under Reg AC: I hereby certify that all views expressed in this report accurately reflect my personal views about the subject company or companies and its or their securities. I also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report.

Disclosures:

ROTH makes a market in shares of Great Panther Silver Limited and as such, buys and sells from customers on a principal basis.

The Research Analyst serves on Great Panther Silver Limited Board of Directors.

ROTH Capital Partners, LLC expects to receive or intends to seek compensation for investment banking or other business relationships with the covered companies mentioned in this report in the next three months.

Disclosures from BMO Capital Markets, "Trends and the Royalty/Streaming Cost Deck," Sept. 5, 2017

Analyst's Certification: I, Andrew Kaip, hereby certify that the views expressed in this report accurately reflect my personal views about the subject securities or issuers. I also certify that no part of my compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed in this report.

Analysts who prepared this report are compensated based upon (among other factors) the overall profitability of BMO Capital Markets and their affiliates, which includes the overall profitability of investment banking services. Compensation for research is based on effectiveness in generating new ideas and in communication of ideas to clients, performance of recommendations, accuracy of earnings estimates, and service to clients.

Analysts employed by BMO Nesbitt Burns Inc. and/or BMO Capital Markets Limited are not registered as research analysts with FINRA. These analysts may not be associated persons of BMO Capital Markets Corp. and therefore may not be subject to the FINRA Rule 2241 restrictions on communications with a subject company, public appearances and trading securities held by a research analyst account.

Disclosure 8A: BMO Capital Markets or an affiliate has a financial interest in 1% or more of any class of the equity securities of Franco-Nevada, Osisko Gold Royalties, Sandstorm Gold and Wheaton Precious Metals.

Disclosure 8C: BMO Capital Markets or an affiliate has a financial interest in 0.5% or more in the issued share capital of Franco-Nevada, Sandstorm Gold and Wheaton Precious Metals.

Disclosure 9: BMO Capital Markets makes a market in Franco-Nevada, Royal Gold and Wheaton Precious Metals.

Disclosure 16: A BMO Nesbitt Burns Inc. research analyst has extensively viewed the material operations of Franco-Nevada and Wheaton Precious Metals.

Disclosure 17: Franco-Nevada and Wheaton Precious Metals has paid or reimbursed some or all of the BMO Nesbitt Burns Inc. analysts travel expenses.

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