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. Prior to the corporate disposition of Keystone Energy Inc. to StarPoint Energy Ltd. in September 2004, the shares of Keystone Petroleums Ltd. were acquired by 101051712 Saskatchewan Ltd. Effective December 31, 2004, 101051712 Saskatchewan Ltd. and Keystone Petroleums Ltd, were amalgamated and continued as Keystone Petroleums Ltd. 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 gas 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.