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

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.

International Royalty Corporation

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 Australia. IRC is senior listed on the Toronto Stock Exchange(TSX: IRC.TO) as well as the NYSE Amex (NYSE-A: ROY).

    On behalf of the Board of Directors,
    INTERNATIONAL ROYALTY CORPORATION

    Douglas B. Silver
    Chairman and CEO