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CANADIAN ROYALTIES / MONTORO UPDATE ON SOUTHERN TREND-OVERTIME
PROPERTY EXPLORATION RAGLAN
Further to our December 15, 2004 news release Canadian Royalties
Inc. (“CZZ”) reports preliminary news on its 2005 exploration
program. Canadian Royalties is earning 100% interest in Montoro’s
South Trend/Overtime property located in the Raglan South Trend
area of Nunavik (Ungava), Quebec, and Montoro will retain a 1% net
smelter return royalty in the Property.
Canadian Royalties has completed fourteen shallow holes at two
grid areas (depth ranging from 80 to 129 metres) as follow-up from
the 2004 ground geophysics and this years Aeroquest survey. Assay
results, drill core evaluation and compilations will be released
on a timely basis as the information comes available from Canadian
Royalties. The drill core will be assayed for nickel-copper-platinum-palladium-gold
(Ni-Cu-PGE).
Over the past two years Canadian Royalties has expended in excess
of $200,000 on the South Trend Property, entitling it to a 50% interest
in the Property. It is expected that Canadian Royalties will expend
the remaining $250,000 required expenditures to earn a 100% interest,
subject to a 3% NSR (1% in favour of Montoro).
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