December 19, 2003

News Release: Canadian Royalties Wins Two Judgements in Quebec

Canadian Royalties Inc. (TSX-V symbol: CZZ) announces that two additional Judgments have been rendered in its favour this week in the province of Quebec.

In November, 2003, Ungava Minerals filed a motion in the Superior Court of Quebec attempting to challenge the Order homologating the Honourable Claude Bisson's Decision on the 2002 arbitration hearing. The process of homologation means that a decision rendered by an arbitrator can be converted into an executory Judgment of the Superior Court of Quebec, and this was accomplished by Canadian Royalties on December 3, 2002 when it homologated Mr. Bisson's 2002 arbitration decision in the Superior Court of Quebec. Ungava's motion to revoke the Order homologating Mr. Bisson's decision was heard earlier this week in the Superior Court of Quebec, and Canadian Royalties was successful in obtaining a Judgment dismissing Ungava's motion. As a result of this Judgment, the legality and enforceability of the Option and Joint Venture Agreement between Canadian Royalties and Ungava Minerals pertaining to the Expo-Ungava Property has once again been upheld and re-affirmed.

Separately, on December 18, 2003, Canadian Royalties obtained a Judgment from the Honourable Francois Belanger of the Superior Court of Quebec homologating the Arbitration Decision of the Honourable Lawrence A. Poitras, which was rendered in favour of Canadian Royalties on November 25, 2003 (Please see press release dated November 25, 2003). Mr. Poitras'Arbitration Award ordered that Ungava Minerals transfer 70% of its interest in the Expo-Ungava Property to Canadian Royalties. The effect of the Honourable Francois Belanger's Judgment has rendered Mr. Poitras'Abitration Award executory as a judgment of the Superior Court of Quebec.

Canadian Royalties Inc.Bruce Durham, President145 Delnite Road, Timmins, ON P4N 7J8(705) 264-2144Email: This email address is being protected from spambots. You need JavaScript enabled to view it. Royalties Inc.Jennifer L. Boyle, Vice-President800 Rene-Levesque Blvd, Suite 1525, Montreal, QC H3B 1X9(514) 879-1688, ext 250Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

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