Keystone Royalty Corp. is a Saskatchewan based privately-held, land and royalty company. The Company was incorporated in 1949 as Keystone Petroleums Ltd. and until 2002 was headquartered in Pittsburgh, PA. Keystone Petroleums Ltd. was acquired by Keystone Energy Inc. in February 2002. In December 2006, the Company changed its name from Keystone Petroleums Ltd. to the current name.

In May, 2006, Keystone closed the acquisition of all of the oil and land assets of Lex Minerals Inc. The Lex deal, which was effective January 1, 2006, increased the Company’s fee mineral land holdings from 158,587 gross (51,289 net) to over 200,000 gross (68,000+ net). The Lex Lands were characterized by a higher proportion of either producing lands or lands which are highly-prospective for development in the near term. Approximately 11.5% of the Lex Lands were producing at the time of the acquisition, compared to approximately 4.2% of the KRC Lands.

Keystone is an active acquirer of royalty interests, mineral titles and non-operated working interests, primarily in Saskatchewan. The Company currently holds interests in over 210,000 acres of fee title, and non-title interests in another 15,000 acres of land in Saskatchewan.

Apart from certain senior management personnel, most technical and administrative functions are provided by Villanova Oil Corp., a related company.