Franco-Nevada Strengthens Management Team



    /NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR DISSEMINATION IN THE
    UNITED STATES/

    TORONTO, Jan. 3 /CNW/ - Franco-Nevada Corporation (TSX:FNV) announced
today that Alex Morrison is joining the Company as Chief Financial Officer.
    Mr. Morrison joins Franco-Nevada from Newmont Mining Corporation where he
served in various capacities including Vice President - Information
Technology, Vice President - Operations Services and Group Executive -
Internal Audit. Prior to joining Newmont in 2002, Mr. Morrison was Vice
President and Controller of Homestake Mining Company, Assistant Controller at
Phelps Dodge Corporation and Controller at Stillwater Mining Company.
    "We're very excited to have Alex join our management team," said David
Harquail, Chief Executive Officer of Franco-Nevada. "Alex's depth of financial
experience in the mining industry and specifically his direct experience with
our assets gained at Newmont, Homestake and Stillwater is a great benefit to
Franco-Nevada."
    Paul Brink, who acted as Chief Financial Officer and Senior Vice
President Business Development through the Company's recent Initial Public
Offering, will now be responsible for business development as Senior Vice
President, Business Development.

    About Franco-Nevada
    -------------------
    Franco-Nevada Corporation is a resource sector royalty and investment
company. The company owns an established portfolio of mining and oil and
natural gas royalties and certain equity interests. The Company employs cash
flow from its royalty investments to fund new acquisitions and investment
opportunities.

    Forward-Looking Statements
    --------------------------
    This news release contains forward-looking statements, including
"forward-looking statements" within the meaning of applicable Canadian and
United States securities laws. Such forward-looking statements include,
without limitation, statements regarding the use of proceeds of the
transaction. Where statements by Franco-Nevada express or imply an expectation
or belief as to future events or results, such expectation or belief is
expressed in good faith and believed to have a reasonable basis. However,
forward-looking statements are subject to risks, uncertainties and other
factors, which could cause actual results to differ materially from future
results expressed, projected or implied by such forward-looking statements all
as may be set out under the headings "Forward Looking Statements" and "Risk
Factors" in the prospectus pursuant to which the common shares of the Company
have been issued and elsewhere in the Company's documents filed from time to
time with the Toronto Stock Exchange and Canadian securities regulators.
Franco-Nevada expressly disclaims any obligation to release publicly revisions
to any forward-looking statement to reflect events or circumstances after the
date of this news release, or to reflect the occurrence of unanticipated
events, except as may be required under applicable securities laws.
Additionally, Franco-Nevada expressly disclaims any obligation to comment on
expectations of, or comments made by, third parties in respect of the possible
transaction.

    %SEDAR: 00026091E




For further information:

For further information: Further information on the Company is provided
on its website www.franco-nevada.com, or please contact: Paul Brink, Senior
Vice President, Business Development, Franco-Nevada Corporation, (416)
480-6480; Philip Koven, Bryan Mills Iradesso, (416) 447-4740


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