Stanley Dempsey

STANLEY DEMPSEY is Chairman and Chief Executive Officer of Royal Gold,
Inc., a Denver-based, publicly-owned precious metals royalty company.
Mr. Dempsey is a lawyer, geologist and a mining executive. He. received
degrees in Geology and Law from the University of Colorado, and
completed the Program for Management Development at the Harvard Business
School. Mr. Dempsey was Chairman of AMAX Australia Limited from 1981 to
1983 and a Vice President of AMAX, Inc., from 1977 to 1983. He was also
Deputy Chairman of Australian Consolidated Minerals Corporation from
1981 to 1983. Mr. Dempsey held various engineering, legal and operating
positions within AMAX including Senior Vice President of Climax
Molybdenum Company, Vice President of AMAX Exploration, Inc., Director
of Environmental Affairs and Division Attorney-western operations. Mr.
Dempsey practiced law as a partner of the Washington, DC, and Denver
firm of Arnold & Porter from 1983 to 1986. Mr. Dempsey is active in
trade, professional, civic and environmental organizations. He is past
Chairman of the Board for Mountain States Employers Council, former
Chairman of the Colorado Mining Association, past President of the Rocky
Mountain Mineral Foundation, and former Chairman of the Lands Committee
of the National Mining Association. Mr. Dempsey has served as Chairman
of the Colorado Historical Society, and President of the Mining History
Association. He is presently a Director of the World Gold Council, the
National Mining Association, the Nevada Mining Association and Mountain
States Employers Council.