Announces Reserve and Resource Update
Quebec, May 25, 2015 AEST (ABN Newswire) - Abitibi Royalties Inc. (
CVE:RZZ) ("Abitibi Royalties" or the "Company") is pleased to announce the receipt of the year-end 2014 gold Reserve and Resource estimate completed by Canadian Malartic GP ("Canadian Malartic"), operated by Agnico Eagle Mines Limited and Yamana Gold Inc., in respect of the Company's net smelter return ("NSR") interests on various areas of the Canadian Malartic mine. These areas include Gouldie, Barnat and the Jeffrey Zone.
Information regarding the updated Reserve and Resource estimates for the areas where Abitibi Royalties holds an NSR interest was provided by Canadian Malartic by way of a "Surface Reserve and Resources Letter to Abitibi Royalties" dated May 7 th, 2015. The following information was extracted directly from such letter. This estimate was calculated at a gold price of US$1,300 per ounce.
To view reserves, please visit:
http://media.abnnewswire.net/media/en/docs/80019-CVE-RZZ-20150522.pdf
About Abitibi Royalties Inc.
Abitibi Royalties Inc. (CVE:RZZ) holds a 3% NSR on the Odyssey North discovery, Jeffrey Zone and the eastern portion of the Barnat Extension, located inside the Malartic CHL property and a 2% NSR on portions of the Gouldie and Charlie zones, all at the Canadian Malartic mine near Val-d’Or, Québec. In addition, the Company is building a portfolio of royalties on early stage properties near producing mines. The Company owns common shares in Yamana Gold and Agnico Eagle Mines (market value), plus cash (as of September 30, 2016) of Cdn$41.8 million. The Company is debt free.
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