Royalties Inc C.RI

Alternate Symbol(s): ROYIF

Metals & Mining Industrial Metals & Minerals

Royalties Inc. is a Canada-based diversified royalties’ company. The Company has a 2.1% stake in Music Royalties Inc. (MRI), a Canada-based private company that acquires passive music royalties from rightsholders, including artists, producers and songwriters, and holds a portfolio of approximately 28 cash-flowing music royalties. The Company also has interests in exploration and evaluation properties located in Mexico, owning a 100% interest on the Bilbao silver-zinc-lead project located in the southeastern part of the State of Zacatecas. It also owns 88% interest in Minera Portree de Zacatecas, S.A. de C.V (Minera Portree), which holds an asserted claim to a 2% net smelter royalty on five mining concessions located adjacent to the Cozamin Mine operated by Capstone Mining Corp.

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Post by JonnyRbuck12on May 14, 2009 4:51pm

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Post# 15994136

50m of 35% Cu drilled

Xtierra drills 50 m of 35% Cu at Bilbao

2008-09-10 16:29 ET - News Release

Mr. Terence McKillen reports

XTIERRA INC. -- RESULTS OF IN-FILL DRILLING AT BILBAO PROJECT; COMPLETION OF SPECIAL WARRANT CONVERSION

XtierraInc. has released results of a 4,138-metre, infill diamond drillingprogram at its 100-per-cent-owned Bilbao silver-zinc-lead-copperproject, in Zacatecas, Mexico. The 15-hole program has confirmed thenature and extent of the Bilbao deposit and the earlier resourceestimate with greater confidence, and has indicated some spectacularthicknesses and grades of mineralization, as well as opened upcontinuity of mineralization to the northwest. An independent, NationalInstrument (NI) 43-101-compliant, resource estimate is currently beingprepared by consulting geologist Richard T.G. Parker (Eur Geol).

HoleX-33, located in the centre of the deposit, returned mineralizationover 140 vertical metres (m) in three sections comprising oxide, mixedoxide and sulphide mineralization, and primary sulphide bodies (referto the intersections and grades of mineralized core from the infilldrilling at Bilbao table). The results of hole X-33 also indicate asignificant copper and gold zone at the base of the main sulphide bodyat that location which may be related to a discrete feeder zone.

HoleX-42, a step-out hole collared 130 m northwest of the western limit ofthe currently known deposit, intersected four separate zones ofmineralization including 8.75 m of massive fine-grained pyrite with lowbase metal values (between 149.25 m and 157.00 m) and three furtherzones of mineralization between one m and five m in width containing1.54 per cent to 3.76 per cent combined zinc and lead, and a furtherzone of one-metre width (between 181.00 m and 182.00 m) with 170 gramsper tonne (g/t) silver, 7.32 per cent lead and 0.64 per cent zinc. Thishole appears to be located adjacent to a major northwest-trendingstructure believed to control the distribution of the replacement-stylemineralization at Bilbao. Of particular note is that the mineralizationdiscovered in X42 lies in limestone beneath 46 metres of granite.

Furtherdrilling will be focused in the area of hole X-42 to explore thepotential for developing additional resources. The mineralization atBilbao also remains open to the southwest where it dips below Tertiaryvolcanic cover rocks. Xtierra is planning an additional 4,000 m to6,000 m of step-out and condemnation drilling at Bilbao.

Comment

Commentingon the results of the infill drilling program, Terence N. McKillen,president and chief executive officer, said: "We are very pleased thatthe results of the 15-hole infill drilling program at Bilbao have notonly confirmed the nature and extent of the previous preliminaryresource estimate, but have added significant tonnage to the depositwhich we anticipate will be reflected in the independent NI43-101-compliant resource estimate currently in preparation. We areparticularly excited about the prospects being opened up to thenorthwest by hole X-42 and an associated geochemical anomaly in soilswhich extends for over 1,000 metres to the northwest. We believe thatthere is the potential to significantly increase the resource potentialat Bilbao."

Dr. Anthony C. Gallon, CEng, and Mr. McKillen, PGeo,qualified persons (as defined in NI 43-101) who, unless otherwiseindicated, supervised the preparation of the scientific and technicalinformation reflected in this news release. Preparation and assaying ofthe above-reported samples were performed at SGS Laboratories inDurango, Mexico, using industry standard preparation procedures:

Fire assay analysis with gravimetric finish for gold and silver;
Initial ICP-EOS finish with aqua regia digestion for base metals;
ICP-OES finish by sodium peroxide fusion for reassays of significant base metal values.

UnderXtierra's quality assurance/quality control (QA/QC) program, duplicatesamples, blanks and standards are submitted to BSi/InspectorateLaboratories in Durango, Mexico, for preparation and onward shipment toBSi/Inspectorate's analytical laboratory located in Reno, Nev., withacceptable results to date.

Completion of special warrant conversion

Xtierraalso announces the completion yesterday of the automatic exercise of17,612,000 previously issued special warrants of Xtierra's wholly ownedsubsidiary, Orca Minerals Ltd., resulting in the issue of 17,612,000common shares of Xtierra and 8,806,000 warrants to purchase commonshares of Xtierra. Each warrant entitles the holder to purchase onecommon share of Xtierra for 75 cents per share at any time from Sept.3, 2008, to Sept. 3, 2009, and thereafter for $1 per share up to Sept.3, 2010. Included in this issue was the issue of 6,108,000 commonshares and 3,054,000 warrants upon exercise of 6,108,000 specialwarrants of Orca Minerals Ltd. previously placed through UnionSecurities Inc. on March 26, 2008, which completes the placement andhas resulted in the release to Xtierra of escrowed funds in the amount$1,523,865.13, being the balance of the placement proceeds.

As a result of this special warrant conversion, Xtierra now has 49,862,003 shares and 8,806,000 warrants issued and outstanding.

        INTERSECTIONS AND GRADES OF MINERALIZED CORE FROM THE
INFILL DRILLING AT BILBAO

DDH    From       To    Width      Type     Pb      Zn       Ag      Cu  
(m)      (m)      (m)              (%)       (%)    (g/t)    (%)

X28  126.00    131.00    5.00     Mixed    9.15     2.30     112    0.03
158.00    164.00    6.00  Sulphide    2.96     1.79      50    0.24
-----
11.00
=====
X29   16.00     21.00    5.00     Oxide    2.30     2.10      48    0.19
24.00     28.00    4.00     Oxide    1.81     0.03     136    0.01
46.00     47.00    1.00     Oxide    4.54     0.02      16    0.01
93.00    122.00   29.00     Mixed    4.36     2.14      59    0.35
125.85    138.45   12.60  Sulphide    0.45     3.64      79    0.14
-----
51.60
=====
X30   17.50     23.00    5.50     Oxide    2.04     3.64     116    0.26
51.00     90.00   39.00     Oxide    2.28     3.27      93    0.30
-----
44.50
=====
X31  104.00    105.00    1.00     Mixed    1.63     2.41      78    0.40
-----
1.00
=====
X32  124.45    130.00    5.55     Mixed    2.12     7.56       7    0.19
157.35    160.00    2.65     Mixed    2.59     3.21      26    0.06
179.00    230.00   51.00  Sulphide    2.61     2.93      85    0.27
-----
59.20
=====
X33   38.10     70.00   31.90     Oxide    4.89     2.72     124    0.36
76.00     85.00    9.00     Oxide    1.75     5.10      80    0.24
127.00    175.90   48.90     Mixed    3.01     1.97      59    0.21
175.90    226.00   50.10  Sulphide    0.17     3.40       0   35.00
------
139.90
======
X34  229.00    231.00    2.00  Sulphide    3.82     1.77      32    0.03
311.00    313.00    2.00  Sulphide    0.33     0.33     711    0.04
-----
4.00
=====
X35  135.00    144.55    9.55     Mixed    8.82     1.69     147    1.16
220.40    221.40    1.00  Sulphide   24.20    16.60     290    0.42
-----
10.55
=====
X36  183.00    194.00   11.00  Sulphide    3.88     3.13     106    0.20
198.00    199.00    1.00  Sulphide    2.79     3.69     159    0.26
201.00    202.00    1.00  Sulphide    2.80     1.04     177    0.07
204.00    206.00    2.00  Sulphide    1.26     0.84     122    0.21
-----
15.00
=====
X37  138.00    139.00    1.00     Mixed    3.53     0.04     383    0.13
236.00    240.00    4.00  Sulphide    2.58     1.09      49    0.17
320.00    322.00    2.00  Sulphide    0.13     0.22     330    0.01
-----
7.00
=====
X38  224.00    233.00    9.00  Sulphide    2.97     2.62     145    0.08
243.00    247.00    4.00  Sulphide    1.64     3.15      85    0.48
-----
13.00
=====
X39  NSI
X40  242.10    255.50   13.40  Sulphide    5.99     5.12      80    0.33
281.70    285.40    3.70  Sulphide    3.33     2.13      44    0.06
-----
17.10
=====
X41  226.00    238.00   12.00  Sulphide    2.64     2.71      73    0.29
-----
12.00
=====
X42  181.00    182.00    1.00  Sulphide    7.32     0.64     170    0.06
-----