Canadian Royalties Announces Management Changes

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[{"type":"text","content":"\n\n\n\nMONTREAL, Aug. 29 /CNW Telbec/ - Canadian Royalties Inc. (TSX:CZZ)\n("Canadian Royalties" or the "Corporation") today announced that Richard\nFaucher has resigned as President, Chief Executive Officer and Director of the\nCorporation, effective immediately.\n\n\nThe Board of Directors of Canadian Royalties has appointed Glenn J.\nMullan as President and Chief Executive Officer on an interim basis.\nMr. Mullan holds the office of Chairman of the Board, a position he has held\nsince the incorporation of Canadian Royalties in July of 1998. Mr. Mullan is\nalso a founder and former CEO of the Corporation.\n\n\n"We sincerely wish to thank Mr. Faucher for his time, efforts and hard\nwork and wish him well in his future endeavours. Canadian Royalties will\nimmediately commence a search internally and externally for a permanent CEO"\nsaid Glenn J. Mullan. The Corporation also plans to call on Mr. Faucher's\nexpertise through a consulting relationship.\n\n\nAbout Canadian Royalties and the Nunavik Nickel Project\n\n\nCanadian Royalties has initiated the development of an independent,\nstand-alone nickel-copper mine on its Nunavik Nickel Project, located\n20 kilometers south of Xstrata Nickel's Raglan Mine in Nunavik, Quebec.\nCanadian Royalties has received its Environmental Certificate of Authorization\non May 21, 2008 and Mine Leases for the Expo, Mesamax, Ivakkak and Mequillon\nsites of its Nunavik Nickel Project, on July 29, 2008.\n\n\nForward-looking Statement\n\n\nThis news release contains certain forward-looking statements or\nforward-looking information. These forward-looking statements are subject to a\nvariety of risks and uncertainties beyond the Corporation's ability to control\nor predict which could cause actual events or results to differ materially\nfrom those anticipated in such forward-looking statements. Such risks and\nuncertainties are disclosed under the heading "Risk Factors" in the\nCorporation's Annual Information Form for the year ended December 31, 2007 and\ndated March 31, 2008. Further, forward-looking information is in addition\nbased on various assumptions, including, without limitation, the expectation\nand beliefs of management, the assumed long term price of nickel, that the\nNunavik Nickel Project is a technical viable and economic operation, that it\ncan ...

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