International Royalty Declares Dividend

    AMEX:   ROY
    TSX: IRC

    DENVER, CO, Aug. 16 /CNW Telbec/ - International Royalty Corporation
(AMEX:   ROY, TSX: IRC) (the "Company"or "IRC") is pleased to report that its
Board of Directors declared a dividend on August 14, 2007 of US$0.015 per
share. The dividend is payable to shareholders of record on September 7, 2007
and will be paid on or about September 24, 2007.
    IRC's Board adopted a policy of paying semi-annual dividends at this rate
for a total annual dividend payment of US$2 million or US$0.03 per share per
year. This is in accordance with the dividend policy stated in the August 15,
2006 press release that IRC would pay a dividend upon reporting US$15 million
in annual revenues. Annual revenues for the Company were US$20.3 million for

    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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