DENVER, CO, March 13 /CNW Telbec/ - International Royalty Corporation
(AMEX: ROY, TSX: IRC) (the "Company"or "IRC") is pleased to report that on
March 9, 2007 the Company completed the acquisition of a royalty (the
"Royalty") on the Legacy Sand Project in Nance County, Nebraska for
US$12.0 million. The Royalty is expected to generate annual revenues to IRC of
US$2.4 million for the first 12 years. After year 12, Legacy will pay a 2.0%
gross royalty on all production with no tonnage or price cap.
International Royalty Corporation
International Royalty Corporation (IRC) is a global mineral royalty
company. IRC holds over 60 royalties including an effective 2.7% NSR on the
Voisey's Bay mine, a sliding-scale NSR on the Pascua gold project, and a
1.5% NSR on more than 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
American Stock Exchange (AMEX: ROY).
On behalf of the Board of Directors,
INTERNATIONAL ROYALTY CORPORATION
Douglas B. Silver
Chairman and CEO
Some of the statements contained in this release are forward-looking
statements, such as IRC's expectation that the Legacy Sand Project will
produce at least 500,000 tons of sand on an annual basis, demand for high
quality sands, IRC's annual royalty revenues, and the timing of the first
quarterly royalty payments. Actual results and developments may differ
materially from those contemplated by such forward-looking statements. There
can be no assurance that forward-looking statements will prove to be accurate.
Accordingly, readers should not place undue reliance on any forward-looking
- Contracts to sell the sand are successfully arranged.
- The operator can produce the necessary materials at the design and
- The operator will perform as designed, and according to the schedule
reviewed during due diligence.
For further information:
For further information: Jack Perkins, Investor Relations, (303)
991-9500; Douglas B. Silver, Chairman and CEO, (303) 799-9020,
email@example.com, www.internationalroyalty.com; Renmark Financial
Communications Inc.: Christine Stewart, firstname.lastname@example.org; Neil
Murray-Lyon, email@example.com, (514) 939-3989, Fax: (514)