Canadian Royalties Nunavik Nickel Project Update

About this update from Cleghorn Minerals Ltd.

[{"type":"text","content":"\n\n\n\nMONTREAL, Oct. 1 /CNW Telbec/ - Canadian Royalties Inc. (TSX:CZZ)\nprovides the following update about the progress of construction of its\nNunavik Nickel Project (the "Project"), and about the implementation of an\nAsset Conservation Plan (the "ACP"), previously announced on August 5th, 2008.\n\n\nThe ongoing 2008 Exploration Program is progressing as planned with over\n24,000 metres drilled to date; results will follow in separate news releases\ncommencing in approximately one week.\n\n\nNunavik Nickel Project: Construction on the Project site started on\nMay 20th, 2008. Following implementation of the ACP, construction activities\nwere refocused to complete essential infrastructure and to prepare the site\nfor a temporary shutdown. To date progress on the project includes the\nfollowing:\n\n\n- The housing complex is fully operational with a capacity of 250 people.\n- A significant portion of the mine fleet is on-site.\n- Site preparation for the complex, concentrator, power plant and fuel\n storage is complete.\n- The concentrator foundation has been completed.\n- Critical path items such as ball mills, floatation cells etc. are\n stored on-site.\n- Several large hanger-style shelters have been built to store and\n protect equipment, the mine fleet and other construction materials.\n- Potable and waste water systems are installed and operational.\n- Winterization of the facilities and equipment is being carried out to\n ensure efficient future start-up.\n\n\nA current aerial photograph of the Mine site is available at\n\n\nwww.canadianroyalties.com\n\n\nIncluding the exploration crew, there are currently 131 employees on\nsite. Demobilization of site employees will continue progressively with the\nweekly crew rotations until the last week of October at which point the winter\ncaretaking team will be in place. Final preparation of the Berbegamo camp for\nwinter use will be completed in the coming weeks. A fuel delivery for winter\ncaretaking operations is planned and the last sealift backhaul of material\nfrom Deception Bay, including rental equipment, is planned for October 14th.\n\n\nProject Financing: Discussions and negotiations are ongoing and strategic\nalternatives are being considered.\n\n\nLitigation: Canadian Royalties also is continuing to diligently prosecute\nits legal and arbitration ...

More updates from Cleghorn Minerals Ltd.