International Royalty Acquires Royalty on Long-Life Johnson Camp Copper Mine, Arizona



    NYSE-A:ROY
    TSX:IRC

    DENVER, CO, April 1 /CNW Telbec/ - International Royalty Corporation
(NYSE-A: ROY, TSX: IRC) reports today that it has invested US$5.0 million in
Nord Resources Corporation's ("Nord") producing Johnson Camp copper mine,
located in Cochise County, Arizona, in exchange for a 2.5% NSR royalty on the
project. At a copper price of US$1.80 per pound and assuming 25 million pounds
of annual production, the royalty should generate revenue in excess of US$1.1
million per year.
    Nord commenced mining of new copper ore at the Johnson Camp mine in
February of 2009 and expects to ramp-up to an average annual production rate
of 25 million pounds of copper by this spring. The mine is projected to have a
life of 16 years based upon current Proven and Probable Reserves of 73.4
million tons grading 0.335% copper for total contained copper of 492 million
pounds(1).
    Beginning after January 1, 2010, the royalty rate for any given year can
be adjusted slightly upward if certain annual production targets are not met,
and downward if excess production allows previous short-falls to be recovered.
However, the cumulative rate on copper production can never fall below 2.5%.
The royalty rate on any metals other than copper can be reduced to 1.25% if
cumulative copper production from the mine exceeds 250 million pounds within
twelve years.
    This press release has been reviewed by Nick Michael of SRK Consulting, a
qualified person for the purposes of National Instrument 43-101.

    References

    (1) Johnson Camp Mine Project Feasibility Study dated September 2007.

    International Royalty Corporation
    ---------------------------------

    International Royalty Corporation (IRC) is a global mineral-royalty
company. IRC holds more than 85 royalties including an effective 2.7% NSR on
the Voisey's Bay mine, a sliding-scale NSR on the Pascua gold project in
Chile, a 1.5% NSR on the Las Cruces copper project in Spain and a 1.5% NSR on
approximately 3.0 million acres of gold lands in Western Australia. IRC is
senior listed on the Toronto Stock Exchange (TSX:IRC) as well as the NYSE Amex
(NYSE-A:ROY).

    On behalf of the Board of Directors,
    INTERNATIONAL ROYALTY CORPORATION

    Douglas B. Silver
    Chairman and CEO

    Cautionary Statement Regarding Forward-Looking Statements
    ---------------------------------------------------------

    Some of the statements contained in this document are forward-looking
statements, such as statements that describe IRC's future plans, intentions,
objectives or goals, and specifically include but are not limited to IRC's
expectations as to copper production levels at the Johnson Camp mine and
expected royalty revenue. In certain cases, forward-looking statements can be
identified by the use of words such as "plans", "expects", "does not expect",
"is expected", "budget", "scheduled", "estimates", "forecasts", "intends",
"anticipates", "does not anticipate", "believes" or variations of such words
and phrases, or words that state that certain actions, events or results
"may", "could", "would", "might" or "will" be taken, occur or be achieved.
Since forward-looking statements are not statements of historical fact and
address future events, conditions and expectations, forward-looking statements
inherently involve unknown risks, uncertainties, assumptions and other factors
well beyond the Company's ability to control or predict. Actual results and
developments may differ materially from those contemplated by such
forward-looking statements depending on, among others, such key factors as the
prices of the underlying commodities in IRC's portfolio and the ability of the
mine operators to finance and successfully place their projects into
production. IRC's forward-looking statements in this document regarding the
anticipated production at the Johnson Camp mine are based on certain
assumptions. Such assumptions include, but are not limited to, the validity of
statements made by the project operator in the public domain, and their
ability to finance, construct and successfully operate the Johnson Camp
property. The forward-looking statements included in this document represent
IRC's views as of the date of this document and subsequent events and
developments may cause IRC's views to change. These forward-looking statements
should not be relied upon as representing IRC's views as of any date
subsequent to the date of this document. Although IRC has attempted to
identify important factors that could cause actual actions, events or results
to differ materially from those described in forward-looking statements, there
may be other factors that cause actions, events or results not to be as
anticipated, estimated or intended. Accordingly, readers should not place
undue reliance on any forward-looking statements.




For further information:

For further information: Jack Perkins, Director of Investor Relations,
(303) 991-9500; Douglas B. Silver, Chairman and CEO, (303) 799-9020,
info@internationalroyalty.com, www.internationalroyalty.com; Renmark Financial
Communications Inc.: Barbara Komorowski, bkomorowski@renmarkfinancial.com;
Christine Stewart, cstewart@renmarkfinancial.com; Montreal, (514) 939-3989,
Fax: (514) 939-3717; Toronto, (416) 644-2020, Fax: (416) 644-2021,
www.renmarkfinancial.com

Organization Profile

INTERNATIONAL ROYALTY CORPORATION

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