Nunavik Nickel Project

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Message: Nunavik Nickel Project Exploration Kehoe Update

Nunavik Nickel Project Exploration Kehoe Update

posted on Apr 27, 2009 09:58AM
April 27, 2009
Canadian Royalties Inc.: Nunavik Nickel Project Exploration Kehoe Update

Additional Endah Showing Results Reported

MONTREAL, QUEBEC--(Marketwire - April 27, 2009) - Canadian Royalties Inc. (the "Company") (TSX:CZZ) announces additional results from the "Endah" showing at Kehoe, located approximately 10 kilometres west-southwest of the Expo complex. Hole KH-08-21 intersected 11.50 metres of predominantly net-textured mineralization that ran 0.80% Nickel, 0.94% Copper, 1.03 g/t Platinum and 2.14 g/t Palladium, including 2.90 metres of high-grade sulphides that averaged 1.96% Nickel, 1.30% Copper, 1.69 g/t Platinum and 2.62 g/t Palladium.

Thick intervals of disseminated to net-textured mineralization were also cut in drillhole KH-08-27, which intersected 19.95 metres grading 0.54% Nickel, 0.75% Copper, 0.44 g/t Platinum and 1.99 g/t Palladium of which 8.90 metres graded 0.61% Nickel, 0.90% Copper, 0.52 g/t Platinum and 2.55 g/t Palladium. Updated results are also reported for eight (8) additional holes.

The "Endah" showing is a new zone of mineralization identified at a location that is roughly equidistant between the Expo and Mequillon deposits, and 5.5 kilometres northeast of Tootoo. The zone is favourably located close to the planned road that is proposed to link the Expo complex with the Mequillon and Ivakkak deposits.

Table 1 - Endah Showing and Kehoe Exploration Drilling Composite Assays

Hole          From        To      Width       Ni      Cu       Pt       Pd
Number          (m)       (m)        (m)      (%)     (%)    (g/t)    (g/t)
--------------------------------------------------------------------------
KH-08-21    208.50    220.00      11.50     0.80    0.94     1.03     2.14
including
KH-08-21    216.10    219.00       2.90     1.96    1.30     1.69     2.62
--------------------------------------------------------------------------
KH-08-22     34.25     36.20       1.95     2.26    1.00     0.42     3.79
--------------------------------------------------------------------------
KH-08-23                                            No significant results
--------------------------------------------------------------------------
KH-08-24                                            No significant results
--------------------------------------------------------------------------
KH-08-25    167.65    168.10       0.45     0.49    2.72     0.05     1.59
--------------------------------------------------------------------------
KH-08-26    227.30    228.60       1.30     0.57    0.47     0.27     0.77
and
KH-08-26    245.40    246.40       1.00     1.76    0.42     1.10     2.76
--------------------------------------------------------------------------
KH-08-27    366.75    386.70      19.95     0.54    0.75     0.44     1.99
including
KH-08-27    374.60    384.90       8.90     0.61    0.90     0.52     2.55
--------------------------------------------------------------------------
KH-08-28    304.80    311.00       6.20     0.34    0.48     0.39     1.34
--------------------------------------------------------------------------
KH-08-29                                            No significant results
--------------------------------------------------------------------------
KH-08-30    245.85    246.40       0.55     1.27    0.70     0.42     1.38
--------------------------------------------------------------------------



Table 2 - Endah Showing and Kehoe Exploration Drillhole Locations

Hole           Easting     Northing     Azimuth      Dip       Final Depth
Number          (UTM NAD83, Zone 18)         (o)      (o)               (m)
--------------------------------------------------------------------------
KH-08-21       573231E     6822610N       360.0      -73            336.00
KH-08-22       573134E     6822635N       360.0      -45            372.00
KH-08-23       573134E     6822635N       360.0      -73            159.00
KH-08-24       573186E     6822553N       360.0      -50            230.00
KH-08-25       573285E     6822809N       180.0      -45            201.00
KH-08-26       573285E     6822809N       180.0      -56            267.00
KH-08-27       573285E     6822809N       180.0      -63            387.00
KH-08-28       573286E     6822532N       360.0      -62            390.00
KH-08-29       572917E     6823108N       320.0      -60            174.00
KH-08-30       572917E     6823108N       320.0      -78            267.00
--------------------------------------------------------------------------
Better than anticipated results are reported for holes KH-08-25, 26, 28 and 30 (see news release dated October 29th, 2008). Exploration holes KH-08-29 and 30 were drilled on targets unrelated to the Endah showing. This release completes the reporting of 2008 drill results from Kehoe.

The delineation of the Endah showing was conducted on a north-south oriented grid at 50 metre line spacing. Preliminary interpretation of the data suggests that a different drill grid orientation may be better suited in order to properly define the geometry, and to test for possible extensions of the mineralization. True widths are therefore difficult to determine but are believed to range from between 60 and 80 percent of the reported composite core widths. The Company is encouraged by the extent of the thick halo of disseminated mineralization, evident in these results and those of October 29th, 2008. Further exploration work is warranted on this potential deposit.

Sampling and Assays

Core samples are either split or sawn on-site, individually sealed in bags and shipped off-site on a regular basis to the ALS Chemex laboratory in Val d'Or, Quebec for sample preparation. Analyses are performed at the ALS Chemex laboratory in Vancouver, British Columbia. Base metal analyses including Nickel and Copper are determined by sodium peroxide fusion with ICP-AES analysis. Platinum, Palladium and Gold analyses are determined by fire assay and ICP-AES finish. The company quality control (QA/QC) program includes regular insertions of blanks and standards. Reported values are uncut and composite intervals are reported as length along the core axis. Below detection limit assays are considered zero values when calculating composites for release purposes.

Qualified Persons

W. Grant Arnold (P.Geo.), COO and Vice-president Exploration for Canadian Royalties Inc., is a Qualified Person in accordance with National Instrument (NI) 43-101, and is responsible for the geological information presented in this news release.

About Canadian Royalties and the Nunavik Nickel Project

Canadian Royalties has been actively exploring and delineating magmatic sulphide related nickel, copper, cobalt, platinum, palladium and gold mineralization in the Raglan area of the Province of Quebec since the summer of 2001. The Company has identified eight (8) nickel-copper-platinum-palladium deposits, with resource estimates for six (6) deposits totalling 19,437,000 tonnes in the Indicated category at a grade of 0.97% Ni, 1.18% Cu, 0.56 g/t Pt, and 2.27 g/t Pd, in addition to 4,102,000 tonnes of Inferred resources at its Nunavik Nickel Project, located 20 kilometres south of Xstrata Nickel's Raglan Mine in Nunavik, Quebec. Further, the Company has received its Environmental Certificate of Authorization and Mine Leases for the Expo, Mesamax, Ivakkak and Mequillon sites.
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