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Canadian Royalties Inc

Thursday, November 22nd, 2007

Canadian Royalties Inc. reports composite assay results from five (5) drillholes from the delineation drill program at its Allammaq discovery. Drillhole MX-07-55, the first drillhole from the fifth section to be tested, intersected 20.60 metres of predominantly net-textured mineralization, thus demonstrating a minimum 200 metre deposit strike length. The interval ran 1.56% Nickel and 1.55% Copper, including 13.65 metres of higher-grade sulphides that averaged 1.70% Nickel and 2.01% Copper with significant Platinum and Palladium values.
Thick intervals of high-grade mineralization were also returned from drillhole MX-07-46, which intersected 49.50 metres grading 1.28% Nickel and 1.46% Copper, including 13.15 metres that graded 1.94% Nickel and 1.59% Copper, before being lost in sulphides. The results from this hole reinforce indications of a thick core of mineralization as evidenced by previously reported holes MX-07-35, 36, 41, 42 and 45.
Table 1 – Composite Assays
Hole, From(m), To(m), Width(m), Ni(%), Cu(%), Pt(g/t), Pd(g/t)
MX-07-46 103.50 153.00 49.50 1.28 1.46 0.72 2.97
incl. 136.40 151.15 13.15 1.94 1.59 0.86 3.21
MX-07-47 122.10 127.55 5.45 1.33 2.66 0.50 1.27
MX-07-48 125.65 127.00 1.35 1.86 0.60 0.48 1.28
MX-07-49 (UZ) 68.00 74.30 6.30 0.26 1.02 0.60 3.10
125.95 130.20 4.25 0.64 2.92 0.31 1.57
MX-07-55 114.40 135.00 20.60 1.56 1.55 0.65 3.82
incl. 121.00 134.65 13.65 1.70 2.01 0.71 4.48
UZ equals Upper Zone
Table 2 – Drillhole Locations
Hole, Easting, Northing (UTM NAD83, Zone 18), Azimuth degree, Dip degree, Final Depth(m)
MX-07-46 595457E 6827594N 178 -49 153.00
MX-07-47 595510E 6827486N 178 -81 159.00
MX-07-48 595510E 6827486N 178 -71 176.00
MX-07-49 595559E 6827509N 178 -85 207.00
MX-07-55 595407E 6827592N 178 -68 144.00
Delineation was carried out on 50 metre spaced sections using multiple fanned drillholes from each drill set-up. Given that drilling during this phase of the program was executed using multiple drills, the drillhole numbers were attributed in batches to each drill thus resulting in “out of sequence” reporting. Drillhole MX-07-55 was the first hole of a new drill fan 50 metres west of previous Allammaq drilling.
Hole MX-07-46 was drilled up-dip from hole MX-07-45 (48.55 metres grading 1.48% Ni and 1.46% Cu) and the results obtained demonstrate that the continuity of mineralisation and substantial thicknesses extend south on that section. Holes MX-07-47 and MX-07-48 were drilled at approximately 25 metre spacings, respectively, south of MX-07-41 (25.95 metres grading 0.99% Ni and 1.54% Cu) on the same section. Hole MX-07-49 was a 25 metre step-out south of discovery hole MX-07-30 (6.60 metres grading 1.68% Ni and 2.34% Cu).
The 2007 exploration season came to a close on October 5th, 2007. The company executed 150 drillholes totalling 26,348 metres during its highly successful 2007 program. A substantial assay backlog remains and the company will continue to report additional results from Allammaq, exploration drilling, and other zones as they become available, with assay completion for all drilling expected during the first quarter of 2008.
For further information visit: www.canadianroyalties.com

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