Canadian Royalties: MOU Signed Concerning the Raglan South Nickel Project.MONTREAL -- Canadian Royalties Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :CZZ CZZ Chazan-Ziv-Zakai Bound ) and Jinchuan Group Ltd. ("JNMC JNMC Jawaharlal Nehru Medical College (India) ") of the People's Republic of China announce that a Memorandum of Understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. (MOU (Minutes Of Usage) A metric used to compute billing and/or statistics for telephone calls or other network use. ) has been signed as a result of ongoing discussions between the parties regarding Canadian Royalties' Raglan South Nickel Project. Items considered in the MOU include: - an off-take agreement for concentrate; - the design and supply of a milling and concentrating facility; - joint exploration activities; and - an equity participation by JNMC in Canadian Royalties. About Canadian Royalties Inc.: Canadian Royalties is evaluating the potential of establishing an independent, stand-alone mining and milling operation in the general vicinity of Falconbridge's Raglan Mine in northern Quebec, where significant infrastructure is in place. Excluding the discovery of the Ivakkak zone and all 2005 diamond drill results, the indicated resources total 10,568,000 tonnes with weighted average grades of 1.0% nickel, 1.2% copper, 0.04% cobalt, 0.2 g/t gold, 0.6 g/t platinum and 2.3 g/t palladium (3.0 g/t PGE PGE Pacific Gas and Electric Company PGE Portland General Electric PGE Prostaglandin E PGE Platinum Group Elements PGE Pacific Great Eastern (Railroad) PGE Phenyl Glycidyl Ether PGE Perfect Girl Evolution ). A scoping study and pilot plant scale metallurgical test work are underway and will be completed during the second quarter of 2006. About Jinchuan Group Limited: JNMC is an integrated non-ferrous metallurgical and chemical engineering enterprise engaged in mining, concentrating, metallurgy and chemical engineering. It produces nickel, copper, cobalt, rare and precious metals Precious Metals Valuable metals such as gold, iridium, palladium, platinum, and silver. Notes: Investing in precious metals can be done either by purchasing the physical asset, or by purchasing futures contracts for the particular metal. and also some chemical products such as sulfuric acid, caustic soda, liquid chlorine, hydrochloric acid and sodium sulfite, together with some further processed nonferrous metals products. The output of nickel and platinum group metals respectively accounts for more than 90% of the total in China. Bruce Durham is the designated Qualified Person and is the person responsible for the geological information presented in this release. For further information, please consult the Canadian Royalties website at www.canadianroyalties.com; the JNMC website at www.jnmc.com Canadian Royalties Inc. (TSX:CZZ) |
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