International Royalty acquires over 10% of New Horizon Uranium Corporation

    AMEX:   ROY
    TSX: IRC

    DENVER, CO, April 16 /CNW Telbec/ - International Royalty Corporation
(AMEX:   ROY, TSX: IRC) ("IRC") is pleased to report that on April 12, 2007 it
acquired 2,150,000 common shares in the capital of Crossroads Exploration Inc.
(now named New Horizon Uranium Corporation ("NHU")) representing 10.95% of the
issued and outstanding shares of NHU. The shares were issued to IRC in
connection with the acquisition by NHU of all the issued and outstanding
shares of New Horizon Uranium Corporation (a private British Columbia
corporation, "New Horizon") in a reverse take-over transaction. IRC owned
2,150,000 shares of the private company that were exchanged for 2,150,000
shares of NHU. The common shares of NHU will trade on the TSX Venture Exchange
under the symbol NHU. IRC owns no other shares of NHU. All common shares were
acquired for investment purposes.
    IRC holds a US$0.75/lb royalty on all future production of uranium by New
    IRC will be filing a report under National Instrument 62-103 of the
Canadian Securities Administrators in connection with this acquisition. For
further information and to obtain a copy of such report please contact IRC's
Director of Investor Relations, Jack Perkins at (303) 991-9500.
    New Horizon is the operator on a joint venture uranium exploration
program in Converse County, WY and is actively pursuing uranium exploration
positions in Western Colorado. IRC's General Council, George S. Young, is
currently serving as Chairman and CEO of New Horizon and Vice President of
Strategic Planning, Dr. David R. Hammond, acts as a Director.

    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,

    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,,; Renmark Financial
Communications Inc.: Tina Cameron:; Neil
Murray-Lyon:, (514) 939-3989, Fax: (514)

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