International Royalty informed by Franco-Nevada Corporation of its intention
to make an offer for IRC shares

    TSX: IRC
<p><location>DENVER</location>, CO, <chron>Dec. 7</chron> /CNW Telbec/ - International Royalty Corporation (NYSE-A:ROY, TSX: IRC) ("IRC") announced today that it has been informed of the intention of Franco-Nevada Corporation to, directly or indirectly through a wholly-owned subsidiary, make a formal all-cash offer to IRC shareholders to acquire any or all of the outstanding common shares of IRC for C$6.75 cash per share. IRC's board of directors will be meeting with its legal and financial advisors to consider an appropriate response to Franco-Nevada Corporation's intention regarding the offer and the board will communicate further with IRC's securityholders in due course.</p>
<p>International Royalty Corporation</p>
<p>International Royalty Corporation (IRC) is a global mineral royalty company. IRC holds 84 royalties including an effective 2.7% NSR on the Voisey's Bay mine, a sliding scale NSR on the Chilean portion of the Pascua-Lama project, a 1.5% NSR on the Las Cruces project and a 1.5% NSR on approximately 3.0 million acres of gold lands in Western <location>Australia</location>. IRC is senior listed on the <location>Toronto</location> Stock Exchange(TSX:IRC) as well as the NYSE Amex (NYSE-A:ROY).</p>
    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,, (514) 939-3989, Fax: (514) 939-3717;

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