<SEC-DOCUMENT>0001279569-14-001864.txt : 20141113
<SEC-HEADER>0001279569-14-001864.hdr.sgml : 20141113
<ACCEPTANCE-DATETIME>20141112214528
ACCESSION NUMBER:		0001279569-14-001864
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20141112
FILED AS OF DATE:		20141113
DATE AS OF CHANGE:		20141112

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SANDSTORM GOLD LTD
		CENTRAL INDEX KEY:			0001434614
		STANDARD INDUSTRIAL CLASSIFICATION:	GOLD & SILVER ORES [1040]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A1

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35617
		FILM NUMBER:		141216101

	BUSINESS ADDRESS:	
		STREET 1:		1400-400 BURRARD STREET
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6C 3A6
		BUSINESS PHONE:		604-689-0234

	MAIL ADDRESS:	
		STREET 1:		1400-400 BURRARD STREET
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6C 3A6

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SANDSTORM RESOURCES LTD
		DATE OF NAME CHANGE:	20080507
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>sandstorm6k.htm
<DESCRIPTION>FORM 6-K
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<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE
COMMISSION</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 18pt"><B>FORM 6-K</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif"><B>REPORT
OF FOREIGN PRIVATE ISSUER</B><BR>
<B>PURSUANT TO RULE 13A-16 OR 15D-16</B><BR>
<B>OF THE SECURITIES EXCHANGE ACT OF 1934&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>For the month of  November,
2014</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Commission File Number: <B>001-35617</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 24pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="text-align: center; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 18pt Times New Roman, Times, Serif"><B>Sandstorm
Gold Ltd.</B><BR>
<FONT STYLE="font-size: 10pt">(Translation of registrant&rsquo;s name into English)</FONT></P>



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<P STYLE="text-align: center; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif"><B>Suite
1400 - 400 Burrard Street</B><BR>
<B>Vancouver, British Columbia</B><BR>
<B>V6C 3A6 Canada</B><BR>
</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Address of principal executive offices)</P>

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<P STYLE="text-align: left; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">Indicate
by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 24%; font-size: 10pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Form
20-F </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></TD>
    <TD STYLE="text-align: left; width: 76%; font-size: 10pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Form
40-F </FONT>&#9746;</TD></TR>
</TABLE>
<P STYLE="text-align: justify; text-indent: 0pt; margin-right: 0; margin-left: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;<BR>
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): &#9744;<BR></FONT></P>

<P STYLE="text-align: left; text-indent: 0pt; margin-right: 0; margin-left: 0; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): &nbsp;&#9744;<BR></FONT></P>

<P STYLE="text-align: left; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Indicate
by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information
to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.<BR>
&nbsp;</FONT></P>

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    <TD STYLE="text-align: left; width: 24%; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Yes &#9744;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></TD>
    <TD STYLE="text-align: left; width: 76%; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">No </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9746;</FONT></TD></TR>
</TABLE>
<P STYLE="text-align: justify; text-indent: 0pt; margin-right: 0; margin-left: 0">&nbsp;<BR>
If &ldquo;Yes&rdquo; is marked, indicate
below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-</P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 23pt">&nbsp;</P>

<P STYLE="font: 1pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>EXHIBIT INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;</P>

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    <TD STYLE="width: 8%; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt; line-height: 115%">Exhibit</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="width: 91%; border-bottom: black 1.5pt solid"><FONT STYLE="font-size: 10pt; line-height: 115%">Description of Exhibit</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt; line-height: 115%">99.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top">News Release Dated    November 12, 2014 - Sandstorm Gold Announces Financial Results For Q3, 2014</TD></TR>
</TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold"><FONT STYLE="font-size: 10pt; line-height: 115%"><B>SANDSTORM GOLD
    LTD.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt; line-height: 115%"></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 51%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 44%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt; line-height: 115%">Date:      November 12, 2014</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt; line-height: 115%">By: &nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid"><FONT STYLE="font-size: 10pt; line-height: 115%">/s/&nbsp;Erfan Kazemi</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt; line-height: 115%">Name: Erfan Kazemi</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt; line-height: 115%">Title:&nbsp;&nbsp; Chief Financial Officer</FONT></TD></TR>
</TABLE>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ex991.htm
<DESCRIPTION>NEWS RELEASE DATED NOVEMBER 12, 2014
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<P STYLE="margin: 0; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Exhibit 99.1</B></FONT></P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Sandstorm Gold Announces Financial Results For Q3, 2014</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0">VANCOUVER, Nov. 12, 2014 /CNW/ - Sandstorm Gold Ltd. (&quot;Sandstorm&quot;
or the &quot;Company&quot;) (NYSE MKT: SAND, TSX: SSL) has released its unaudited results for the third quarter ended September
30, 2014 (all figures in U.S. dollars).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0"><B>&mdash; THIRD Quarter Highlights</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.5pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Strong balance sheet with over $90 million in cash at September 30, 2014.
</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.5pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Attributable Gold Equivalent ounces sold<SUP>1</SUP> of 12,282 ounces.
</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.5pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Revenue of $15.6 million. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.5pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Average cash cost per ounce<SUP>1</SUP> of $308 resulting in cash operating
margins<SUP>1</SUP> of $959 per ounce. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.5pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Operating cash flow of $10.0 million. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.5pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Net income of $2.1 million. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.5pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Amended the revolving credit agreement, extending the term to five years.
The revolving loan allows the Company to borrow up to $100 million for acquisition purposes. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.5pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Participated in a Luna Gold Corp. (&quot;Luna&quot;) non-brokered private
placement. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.5pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Partnered with Franco-Nevada Corp. (&quot;Franco-Nevada&quot;) in entering
into a $120 million gold stream with True Gold Mining Inc. (&quot;True Gold&quot;) with respect to its Karma Project in Burkina
Faso, West Africa. The gold stream is syndicated between Franco-Nevada and Sandstorm with Franco-Nevada providing 75% of the funding
and Sandstorm providing the remaining 25% of the funding. The transaction was the first syndicated gold stream between two royalty
and streaming companies. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0">&quot;Our strong balance sheet and significant cash flow from
operations allows Sandstorm to not only weather the current challenges facing the gold sector but gives the Company an opportunity
to allocate our capital in a way that will build long-term value for our shareholders,&quot; said Sandstorm President and CEO Nolan
Watson.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0"><B>&mdash; Financial Results</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0"><B>Revenue and Gold Sales</B><BR>
Revenue was $15.6 million in the third quarter of 2014, generated from the sale of 12,282 Attributable Gold Equivalent ounces.
Revenue increased slightly compared to the third quarter of 2013, which is attributable to a 6% increase in the number of Attributable
Gold Equivalent ounces sold, offset by a 4% decrease in the average realized selling price of gold.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0"><B>Costs and Expenses</B><BR>
The average cash cost per attributable ounce was $308 during the period, resulting in a cash operating margin of $959 per ounce.
The Company reduced administrative expenses by $1.6 million compared with the comparable period in 2013, which can be attributed
to the implementation of a cost reduction program.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0"><B>Earnings and Operating Cash Flow</B><BR>
For the three months ended September 30, 2014, net income and cash flow from operations were $2.1 million and $10.0 million, respectively,
compared with a net loss and cash flow from operations of $1.9 million and $8.6 million for the comparable period in 2013. The
change is attributable to a combination of factors including a $1.6 million decrease in administration expenses and a $1.0 million
decrease in project evaluation expenses, both of which were driven by the implementation of cost reduction initiatives. The decrease
in expenses was offset by a $2.0 million increase in depletion expense driven by an increase in attributable gold equivalent ounces
sold relating to the Company's royalty portfolio.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0"><B>Balance Sheet</B><BR>
Total assets increased by $65.7 million from December 31, 2013 to September 30, 2014 primarily resulting from the assets acquired
in the Sandstorm Metals &amp; Energy Ltd. (&quot;Sandstorm Metals&quot;) business combination, operating cash flows and the exercise
of warrants, which were partially offset by depletion expense and by a non-cash impairment charge on the Bracemac-McLeod royalty.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0"><B>&mdash; Streams and Royalties</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0">The Company's stream and royalty segments for the three months
ended September 30, 2014 are summarized in the table below:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD STYLE="border-bottom: black 2.25pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding: 1.5pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">In $000's </FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Attributable</FONT><BR>
<FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">ounces sold </FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Sales and</FONT><BR>
<FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">royalty</FONT><BR>
<FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">revenues </FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Cost of</FONT><BR>
<FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">sales</FONT><BR>
<FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">(excluding</FONT><BR>
<FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">depletion) </FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Depletion </FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Income</FONT><BR>
<FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">(loss)</FONT><BR>
<FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">before</FONT><BR>
<FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">taxes </FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Cash flow</FONT><BR>
<FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">from</FONT><BR>
<FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">operations </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.5pt"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Aurizona </FONT></TD>
    <TD STYLE="padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">2,981 </FONT></TD>
    <TD STYLE="padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">$ 3,785 </FONT></TD>
    <TD STYLE="padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">$1,204 </FONT></TD>
    <TD STYLE="padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">$353 </FONT></TD>
    <TD STYLE="padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">$2,228 </FONT></TD>
    <TD STYLE="padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">$2,581 </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.5pt"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Bachelor Lake </FONT></TD>
    <TD STYLE="padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">2,409 </FONT></TD>
    <TD STYLE="padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">3,079 </FONT></TD>
    <TD STYLE="padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">1,204 </FONT></TD>
    <TD STYLE="padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">1,431 </FONT></TD>
    <TD STYLE="padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">444 </FONT></TD>
    <TD STYLE="padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">1,592 </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.5pt"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Black Fox </FONT></TD>
    <TD STYLE="padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">1,557 </FONT></TD>
    <TD STYLE="padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">1,976 </FONT></TD>
    <TD STYLE="padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">792 </FONT></TD>
    <TD STYLE="padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">1,112 </FONT></TD>
    <TD STYLE="padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">72 </FONT></TD>
    <TD STYLE="padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">1,184 </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.5pt"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Ming </FONT></TD>
    <TD STYLE="padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">549 </FONT></TD>
    <TD STYLE="padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">667 </FONT></TD>
    <TD STYLE="padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">- </FONT></TD>
    <TD STYLE="padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">437 </FONT></TD>
    <TD STYLE="padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">230 </FONT></TD>
    <TD STYLE="padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">667 </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.5pt"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Santa Elena </FONT></TD>
    <TD STYLE="padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">1,638 </FONT></TD>
    <TD STYLE="padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">2,064 </FONT></TD>
    <TD STYLE="padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">580 </FONT></TD>
    <TD STYLE="padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">998 </FONT></TD>
    <TD STYLE="padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">448 </FONT></TD>
    <TD STYLE="padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">1,607 </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.5pt"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Royalties </FONT></TD>
    <TD STYLE="padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">3,148 </FONT></TD>
    <TD STYLE="padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">3,988 </FONT></TD>
    <TD STYLE="padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">- </FONT></TD>
    <TD STYLE="padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">3,878 </FONT></TD>
    <TD STYLE="padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">110 </FONT></TD>
    <TD STYLE="padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">3,557 </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Corporate </FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">- </FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">- </FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">- </FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">- </FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">(1,319) </FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">(1,226) </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 2.25pt solid; padding: 1.5pt"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>Consolidated</B> </FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>12,282</B> </FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>$15,559</B> </FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>$3,780</B> </FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>$8,209</B> </FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>$2,253</B> </FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding: 1.5pt; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>$9,962</B> </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0">Attributable Gold Equivalent ounces sold were 12,282 in the
quarter, an increase of 6% from the comparable period in 2013. The increase is largely attributable to increased production from
Metanor Resources Inc.'s (&quot;Metanor&quot;) Bachelor Lake mine in Quebec, Canada (&quot;Bachelor Lake&quot;), Rambler Metals
&amp; Mining PLC's (&quot;Rambler&quot;) Ming mine in Newfoundland, Canada (&quot;Ming Mine&quot;) and SilverCrest Mines Inc.'s
Santa Elena Mine in Mexico (&quot;Santa Elena&quot;), partially offset by decreases in production from Luna's Aurizona mine in
Brazil (&quot;Aurizona&quot;) and Primero Mining Corp.'s (&quot;Primero&quot;) Black Fox mine in Ontario, Canada (&quot;Black Fox&quot;).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0"><B>Bachelor Lake Mine</B><BR>
The Company recorded a 59% increase in gold ounces sold from Bachelor Lake compared to the third quarter of 2013. Metanor recently
announced that it had produced over 50,000 ounces of gold during a 12 month period, a result of the mine reaching commercial production.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0"><B>Ming Mine</B><BR>
An additional 447 gold ounces were sold from the Ming Mine compared to the same period in 2013. The increase was primarily related
to Sandstorm's gold purchase entitlement increasing to 33% for the 2014 fiscal year (which resulted from low metallurgical recoveries
obtained in 2013, triggering contract safeguards). Rambler recently announced it is initiating a pilot project to determine the
mineral potential of the lower footwall zone by way of a low capital expansion program.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0"><B>Santa Elena Mine</B><BR>
There was a 67% increase in gold ounces sold from Santa Elena compared to the third quarter of 2013, largely as a result of the
successful commissioning of SilverCrest's new processing facility.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0"><B>Aurizona Mine</B><BR>
Sandstorm sold 2,981 ounces of attributable gold from Aurizona during the quarter, a 38% decrease compared with the comparable
period in 2013. Luna encountered above average rainfall in the second quarter of the year, which negatively impacted their ability
to access ore in the pit during the period.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0">During the quarter, the Company entered into a strategic investment
agreement (the &quot;Investment Agreement&quot;) with Luna, resulting in Sandstorm becoming the largest shareholder of Luna, owning
approximately 19.8% of Luna's issued and outstanding shares. The Investment Agreement also allowed Sandstorm to appoint one member
to Luna's board of directors. The transaction aligned the interests of Luna and Sandstorm and allows the facilitation of an orderly
resolution of Luna's current challenges.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0"><B>Black Fox Mine</B><BR>
Attributable gold equivalent ounces sold from the Black Fox mine decreased by 29% compared to the third quarter of 2013. The decrease
was primarily driven from insufficient underground development resulting in lower production. Primero intends on making greater
investments in underground development in an effort to improve mining and processing targets going forward.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0"><B>Royalties</B><BR>
The Company's portfolio of royalties contributed an additional 1,123 gold equivalent ounces compared to the same period in 2013.
The increase is largely attributed to the acquisition of Sandstorm Metals and the ramp up of underlying assets.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0"><B>&mdash; Outlook</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0">Based on the existing gold streams and royalties, production
for 2014 is forecasted to be between 40,000 to 50,000 Attributable Gold Equivalent ounces. The Company is forecasting Attributable
Gold Equivalent production of approximately 45,000 ounces per annum in 2017.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0"><B>&mdash; Webcast and Conference Call Details</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0">A conference call will be held on Thursday, November 13, 2014
starting at 8:30am PST to further discuss the third quarter results. To participate in the conference call, use the following dial-in
numbers:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0">Local/International: 647-788-4916<BR>
North American Toll-Free: 877-214-4966</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0">It is recommended that participants dial in five minutes prior
to the commencement of the conference call. An audio webcast of the conference call can be accessed via the following link, http://ow.ly/DSznw,
and will also be available on the Sandstorm website.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0">Sandstorm's Management's Discussion and Analysis (MD&amp;A)
and Financial Statements for the second quarter will be accessible on the Company's website and on SEDAR at <B><U>www.sedar.com</U></B>.
The Company has also completed a Form 6-K filing with the SEC that will be accessible on EDGAR at <B><U>www.sec.gov/edgar.shtml</U></B>.
Shareholders can request a hard copy of the MD&amp;A and Financial Statements by emailing info@sandstormltd.com.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0">Note 1<BR>
Sandstorm has included certain performance measures in this press release that do not have any standardized meaning prescribed
by International Financial Reporting Standards (IFRS) including average cash cost per ounce of gold and cash operating margin.
Average cash cost per ounce of gold is calculated by dividing the total cost of sales, less depletion, by the ounces sold. In the
precious metals mining industry, this is a common performance measure but does not have any standardized meaning. The Company believes
that, in addition to conventional measures prepared in accordance with IFRS, certain investors use this information to evaluate
the Company's performance and ability to generate cash flow. Cash operating margin is calculated by subtracting the average cash
cost per ounce of gold from the average realized selling price per ounce of gold. The Company presents cash operating margin as
it believes that certain investors use this information to evaluate the Company's performance in comparison to other companies
in the precious metals mining industry who present results on a similar basis. The Company's royalty income is converted to an
attributable gold equivalent ounce basis by dividing the royalty income for that period by the average realized gold price per
ounce from the Company's gold streams for the same respective period. These attributable gold equivalent ounces when combined with
the gold ounces sold from the Company's gold streams (individually and collectively referred to as &quot;Attributable Gold Equivalent&quot;)
equal total Attributable Gold Equivalent ounces sold. The presentation of these non-IFRS measures is intended to provide additional
information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with
IFRS. Other companies may calculate these non-IFRS measures differently.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0">ABOUT SANDSTORM GOLD</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0">Sandstorm Gold Ltd. is a gold streaming and royalty company.
Sandstorm provides upfront financing to gold mining companies that are looking for capital and in return, receives a gold streaming
agreement. A gold stream gives Sandstorm the right to purchase a percentage of the gold produced from a mine, for the life of the
mine, at a fixed price per ounce. Sandstorm has acquired a portfolio of ten streams and thirty-six royalties, of which fourteen
of the underlying mines are producing gold. Sandstorm plans to grow and diversify its low cost production profile through the acquisition
of additional gold streams.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0">For more information visit: www.sandstormgold.com</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0"><B>CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0">This press release contains &quot;forward-looking statements&quot;,
within the meaning of the U.S. Securities Act of 1933, the U.S. Securities Exchange Act of 1934, the Private Securities Litigation
Reform Act of 1995 and applicable Canadian securities legislation, concerning the business, operations and financial performance
and condition of Sandstorm Gold Ltd. (&quot;Sandstorm&quot;). Forward-looking statements include, but are not limited to, statements
with respect to the future price of gold, the estimation of mineral reserves and resources, realization of mineral reserve estimates,
and the timing and amount of estimated future production. Forward-looking statements can generally be identified by the use of
forward-looking terminology such as &quot;may&quot;, &quot;will&quot;, &quot;expect&quot;, &quot;intend&quot;, &quot;estimate&quot;,
&quot;anticipate&quot;, &quot;believe&quot;, &quot;continue&quot;, &quot;plans&quot;, or similar terminology.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0">Forward-looking statements are made based upon certain assumptions
and other important factors that, if untrue, could cause the actual results, performances or achievements of Sandstorm to be materially
different from future results, performances or achievements expressed or implied by such statements. Such statements and information
are based on numerous assumptions regarding present and future business strategies and the environment in which Sandstorm will
operate in the future, including the price of gold and anticipated costs. Certain important factors that could cause actual results,
performances or achievements to differ materially from those in the forward-looking statements include, amongst others, gold price
volatility, discrepancies between actual and estimated production, mineral reserves and resources and metallurgical recoveries,
mining operational and development risks relating to the parties which produce the gold Sandstorm will purchase, regulatory restrictions,
activities by governmental authorities (including changes in taxation), currency fluctuations, the global economic climate, dilution,
share price volatility and competition.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0">Forward-looking statements are subject to known and unknown
risks, uncertainties and other important factors that may cause the actual results, level of activity, performance or achievements
of Sandstorm to be materially different from those expressed or implied by such forward-looking statements, including but not limited
to: the impact of general business and economic conditions, the absence of control over mining operations from which Sandstorm
will purchase gold and risks related to those mining operations, including risks related to international operations, government
and environmental regulation, actual results of current exploration activities, conclusions of economic evaluations and changes
in project parameters as plans continue to be refined, risks in the marketability of minerals, fluctuations in the price of gold,
fluctuation in foreign exchange rates and interest rates, stock market volatility, as well as those factors discussed in the section
entitled &quot;Risks to Sandstorm&quot; in Sandstorm's annual report for the financial year ended December 31, 2013 available at
www.sedar.com. Although Sandstorm has attempted to identify important factors that could cause actual results to differ materially
from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated
or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking
statements. Sandstorm does not undertake to update any forward looking statements that are contained or incorporated by reference,
except in accordance with applicable securities laws.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0">SOURCE Sandstorm Gold Ltd.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">%CIK: 0001434614</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>For further information:</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0"><B>Erfan Kazemi&nbsp;&nbsp;</B><BR>
Chief Financial Officer</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0">604 689 0234</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0"><B>Denver Harris&nbsp;</B><BR>
Investor Relations</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0">604 628 1178</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0">CO: Sandstorm Gold Ltd.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0">CNW 21:32e 12-NOV-14</P>



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