Canadian Royalties Inc.

Canadian Royalties Inc.

October 05, 2007 10:43 ET

Canadian Royalties Appoints Vice-President Operations and General Mine Manager for the Nunavik Nickel Project

MONTREAL, QUEBEC--(Marketwire - Oct. 5, 2007) - Canadian Royalties Inc. (TSX:CZZ) announces the appointment of Mr. Patrick Godin to the position of Vice-President Operations and General Mine Manager for the Nunavik Nickel Project. Mr. Godin will be responsible for planning and organizing the start-up of the operations by late 2009.

Mr. Godin brings to Canadian Royalties over 16 years of experience in open pit and underground mining operations. He graduated in 1991 from Laval University in Mining Engineering, and prior to joining Canadian Royalties, he was President and General Manager of the Camp Caiman Gold project in French Guyana for Iamgold (Cambior). Prior positions with Cambior include, from 1999 to 2004 the position of manager of the Mouska mine in Rouyn-Noranda, and from 1998 to 1999 the position of Superintendent Projects for the Doyon and Mouska mines.

About Canadian Royalties and the Nunavik Nickel Project

Canadian Royalties has initiated the development of an independent, stand-alone nickel-copper mine on its Nunavik Nickel Project, located 20 kilometres south of Xstrata Nickel's Raglan Mine in northern Quebec. Canadian Royalties is proceeding with permitting applications, as well as exploration for additional resources.

Canadian Royalties currently holds a 100% interest in the Ivakkak deposit, subject to a net smelter royalty ("NSR", refer to news release dated September 21, 2005). Additionally, Canadian Royalties has vested in a 70% interest in the Expo-Ungava property (which hosts the Mesamax, Mequillon and Expo deposits), where its interest shall be increased to 80% simultaneously with the creation of the joint venture. Further, Canadian Royalties holds an underlying 2% NSR on the Expo-Ungava Property.

Forward-looking Statement

This news release contains certain forward-looking statements. These forward-looking statements are subject to a variety of risks and uncertainties beyond the Company's ability to control or predict which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. Such risks and uncertainties are disclosed under the heading "Risk Factors" in the Company's Amended and Restated Annual Information Form dated July 10, 2007 for the year ended December 31, 2006. Accordingly, readers should not place undue reliance on forward-looking statements.

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