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Canadian Royalties Announces First Quarter 2009 Results

Monday, May 18th, 2009

Canadian Royalties Inc. announces that it has filed its financial results for the three months ended March 31st, 2009.
For the three months ended March 31, 2009, the Company reported a net loss of $4.1 million or $0.04 per share compared to a loss of $1.9 million or $0.019 per share in 2008. The higher loss for the first quarter 2009 as compared to the first quarter of 2008 can be attributed to accrued interest on the convertible debentures, issued in late March 2008, partially offset by the recognition of a $1.2 million future tax recovery following the renunciation of its exploration expenditures to subscribers of a June 30, 2008 $6.1 million flow through issue.
Highlights for the Company’s financial position are as follows:
March 31, 2009 December 31, 2008
Cash 23,417,000 24,570,000
Working Capital 32,424,000 44,367,000
Total Assets 111,085,000 125,644,000
For further information visit: www.canadianroyalties.com

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