International Royalty Corporation Increases Dividend

    AMEX:  ROY

    DENVER, CO, Aug. 14 /CNW Telbec/ - International Royalty Corporation
(AMEX:   ROY, TSX: IRC) ("IRC") is pleased to report that its Board of Directors
declared a semi-annual dividend of US$0.02 per share, payable to shareholders
of record on September 12, 2008. The dividend is an increase of IRC's previous
semi-annual dividend rate from US$0.015 per share to US$0.02 per share. At the
new rate, IRC's annual dividend will increase from $0.03 per share to $0.04
per share. Based on current shares outstanding, the total annual dividend will
approximate US$3.1 million. The dividend will be paid on or about
September 29, 2008.

    International Royalty Corporation

    International Royalty Corporation (IRC) is a global mineral royalty
company. IRC holds approximately 80 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
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 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, Director of Investor Relations,
(303) 991-9500; Douglas B. Silver, Chairman and CEO, (303) 799-9020,,; Renmark Financial
Communications Inc.: Barbara Komorowski:; Jen
Power:, (514) 939-3989, Fax: (514) 939-3717,

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