Canadian Royalties Closes C$6.1 Million Private Placement Financing



    /NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE
    SERVICES/

    MONTREAL, July 2 /CNW Telbec/ - Canadian Royalties Inc. (TSX: CZZ) today
announced that it has closed a non brokered private placement financing of
2,028,234 flow-through common shares at a price of $3.00 per share for gross
proceeds of $6,084,702. Several Flow Through LP's managed by Mavrix Fund
Management Inc. purchased a total 2,000,000 of the available units.
    The proceeds from the offering will be used to fund the Company's
advanced exploration programs, primarily in respect of its Raglan South Nickel
project located in Nunavik, Quebec. In connection with the private placement,
the Company has paid a finder's fee to Anthem Capital Group Inc.

    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 Nunavik, Québec.
Canadian Royalties has now received its Environmental Certificate of
Authorization and is proceeding with construction.




For further information:

For further information: Richard R. Faucher, President & CEO, Canadian
Royalties, (514) 879-1688, richard.faucher@canadianroyalties.com; Marc Chaput,
VP, Investor Relations and Communications, Canadian Royalties, (514) 879-1688,
ext. 1223, marc.chaput@canadianroyalties.com; Valérie Hasik, Investor
Relations Manager, Canadian Royalties, (514) 879-1688, ext. 1224,
valerie.hasik@canadianroyalties.com; Renmark Financial Communications Inc.:
Jason Roy: jroy@renmarkfinancial.com; Dan Symons:
dsymons@renmarkfinancial.com; Media - Adam Ross: aross@renmarkfinancial.com,
(514) 939-3989, Fax: (514) 939-3717; www.renmarkfinancial.com

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CANADIAN ROYALTIES INC.

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