2009-09-11 17:45 ET - News Release

Mr. Glenn Mullan reports CANADIAN ROYALTIES EXTENDS SEPARATION TIME UNDER SHAREHOLDER RIGHTS PLAN

Canadian Royalties Inc. has been advised that, consistent with its recommendations, the offers made by Jien Canada Mining Ltd., Jilin Jien Nickel Industry Co. Ltd., Jien International Investment Ltd. and Goldbrook Ventures Inc. are unlikely to attract meaningful interest from its securityholders. As such, Canadian Royalties has determined to defer the separation time for rights under its shareholder rights plan in connection with the Jien offers to Sept. 16, 2009, in order to avoid a separation time occurring as a result of the announcements in relation to the Jien offers.

The rights plan remains in force and effective pending shareholder ratification at the special meeting of the company on Sept. 30, 2009. The rights plan was adopted to ensure the fair treatment of all Canadian Royalties' securityholders in connection with any takeover bid for the outstanding common shares. The rights plan will provide securityholders with adequate time to properly evaluate and assess a takeover bid without facing undue pressure or coercion. The rights plan also provides the board of directors of the company with additional time to consider any takeover bid and, if applicable, to explore alternative transactions in order to maximize shareholder value.