International Royalty Corporation completes bought-deal financing



    /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN
    THE UNITED STATES/

    AMEX:   ROY
    TSX: IRC

    DENVER, CO, Nov. 5 /CNW Telbec/ - International Royalty Corporation (TSX:
IRC) (AMEX:   ROY) (the "Company" or "IRC") announced today that it has closed
an offering of 10,400,000 common shares of IRC at a price of C$6.30 per common
share which includes 400,000 common shares issued on exercise of the
over-allotment option. Total gross proceeds were C$65,520,000.
    Scotia Capital Inc. and Haywood Securities Inc. acted as co-lead
underwriters in connection with the offering, with Raymond James Ltd.
comprising the remainder of the syndicate.

    International Royalty Corporation

    International Royalty Corporation 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




For further information:

For further information: Jack Perkins, Investor Relations, (303)
991-9500; Douglas B. Silver, Chairman and CEO, (303) 799-9020,
info@internationalroyalty.com, www.internationalroyalty.com; Renmark Financial
Communications Inc.: Tina Cameron: tcameron@renmarkfinancial.com; Neil
Murray-Lyon: nmurraylyon@renmarkfinancial.com; (514) 939-3989, Fax: (514)
939-3717, www.renmarkfinancial.com

Organization Profile

INTERNATIONAL ROYALTY CORPORATION

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