Int'l Royalties: Natural resource Royalties

2005-12-01 12:58 ET - News Release ... Mr. Douglas Silver reports

SIGNIFICANT NEW DISCOVERY POTENTIAL ON IRC ROYALTY INTEREST

International Royalty Corp. (IRC) has learned that Atna Resources Ltd. recently released the results of the first drill intersection from an underground hole drilled in the Ogee zone on the Pinson project. The hole results suggest potential for a significant new discovery. IRC holds net smelter return royalties up to 3 per cent on the Pinson project. Atna has confirmed that the hole is on land covered by an IRC royalty. As reported in Stockwatch on Nov. 28, Atna intersected the following.

Ogee zone
UNDERGROUND CORE RESULTS

Hole Depth From To Int. Au
UGOG- feet feet feet feet ounces
per ton

004 282 109.5 257.0 147.5 0.970
incl. 127.0 181.6 54.6 1.297
incl. 204.2 241.5 37.3 1.323


The midpoint of this intercept is located 145 feet north and 175 feet below the previously released adit level channel samples that averaged 34 feet grading 0.692 ounce per ton Au (Aug. 17, 2005). The drill intersection is believed to intersect the zone obliquely. It is significantly broader than expected but there is insufficient information to estimate the true thickness with any confidence. Current geologic interpretation indicates that the zone may be wider at this level than the width of the Ogee zone exposed in the main adit level. Three other holes have been completed in the Ogee zone and assays remain pending. Drilling is continuing with one machine from a tunnel that will enable drilling the zone over 450 feet of strike and up and down dip. Atna expects to release further assay results within the next several weeks.