International Royalty terminates letter of intent on Limpopo Royalties

    AMEX:  ROY

    DENVER, CO, March 10 /CNW Telbec/ - International Royalty Corporation
(AMEX:   ROY, TSX: IRC) (the "Company"or "IRC") reports it has terminated the
letter of intent on the Limpopo PGM Royalties that the Company had entered
into on May 15, 2007. After conducting due diligence and working with the
seller, IRC has not been able to resolve certain issues related to the
royalties and has made the decision not to close on the acquisition.

    International Royalty Corporation

    International Royalty Corporation (IRC) is a global mineral royalty
company. IRC holds over 75 royalties including an effective 2.7% NSR on the
Voisey's Bay mine, a sliding-scale NSR on the Pascua gold project, a 1.5% NSR
on the Las Cruces copper 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, Director of Investor Relations,
(303) 991-9500; Douglas B. Silver, Chairman and CEO, (303) 799-9020,;; Renmark Financial
Communications Inc.: Barbara Komorowski:;
Melanie Lecavalier:, (514) 939-3989, Fax:
(514) 939-3717;

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