International Royalty Corporation

International Royalty Corporation

March 09, 2005 11:41 ET

International Royalty Corporation Appoints Edward Mercaldo To Board Of Directors


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: INTERNATIONAL ROYALTY CORPORATION

TSX SYMBOL: IRC

MARCH 9, 2005 - 11:41 ET

International Royalty Corporation Appoints Edward
Mercaldo To Board Of Directors

DENVER, COLORADO--(CCNMatthews - March 9, 2005) - International Royalty
Corporation (TSX:IRC) (the "Company") is pleased to announce the
appointment of Edward Mercaldo to its board of directors. He will be the
ninth director appointed to the IRC board.

Mr. Mercaldo is a financial consultant and private investor as well as a
Director for Norwood Resources Ltd. Following his successful career as
an international commercial and investment banker for several leading
companies including the Bank of Montreal, Bankers Trust Company of New
York, Gordon Capital and First Marathon Securities Mr. Mercaldo also
served as the Executive Vice-President, Chief Financial Officer and
Director of Diamond Fields Resources Inc. Following the purchase of
Diamond Fields by Inco in August 1996, Mr. Mercaldo continued as a
Director of Inco until September 2000. Mr. Mercaldo is a citizen of both
Canada and the United States and resides with his family in Del Mar
California where he is active in business and financial circles.

Douglas B. Silver, Chairman and CEO of the Company, said "We are very
pleased to have Ed join the board. His wide ranging expertise will
complement the knowledge possessed by the existing board members. I am
confident that his expertise will expand our ability to increase
shareholder value."

Mr. Mercaldo will be issued 300,000 stock options.

The Company was formed for the purpose of acquiring and creating natural
resource royalties with a specific emphasis on mineral royalties. The
Company holds interests in a large portfolio of royalties, including a
100% interest in Archean Resources Ltd., a private company which
indirectly holds an effective 2.7% net smelter return ("NSR") interest
in the Voisey's Bay nickel-copper-cobalt project located in Labrador,
Canada; a 0.25% NSR on the Williams gold mine in Ontario; an effective
3.0% NSR on part of the Pinson gold project in Nevada, and a 1.5% NSR on
the Hasbrouck Mountain gold/silver deposit, also in Nevada. The Company
intends to create a diversified global portfolio of royalties on
exploration through production stage properties. The Company currently
receives approximately $400,000 per year in revenues from producing
royalties, and expects to begin receiving in excess of $16 million per
year in revenues with the commencement of operations at Voisey's Bay,
projected to occur in early 2006.

The Company currently has 56,830,469 common shares outstanding
(61,621,037 common shares are outstanding on a fully diluted basis).

The securities being offered and sold have not been, nor will they be
registered under the United States Securities Act of 1933, as amended,
and may not be offered or sold within the United States or to, or for
the account or benefit of, U.S. persons absent U.S. registration or an
applicable exemption from U.S. registration requirements. This release
does not constitute an offer for sale of securities in the United States.

Some of the statements contained in this release are forward-looking
statements, such as estimates and statements that describe the Company's
future plans, intentions, objectives or goals, including words to the
effect that the Company or management expects a stated condition or
result to occur. Since forward-looking statements are not statements of
historical fact and address future events, conditions and expectations,
forward-looking statements by their nature involve inherent risks and
uncertainties. Actual results in each case could differ materially from
those currently anticipated in such statements. The Company does not
expect to update forward-looking statements continually as conditions
change and you are referred to the full discussion of the Company's
business contained in the Company's reports filed with the securities
regulatory authorities.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    International Royalty Corporation
    Douglas B. Silver
    Chairman and CEO
    (303) 799-9020
    (303) 799-9017 (FAX)
    10 Inverness Drive East, Suite 104
    Englewood, Colorado USA 80112