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To: Wayne Rumball who wrote (22209)	1/25/2000 8:41:00 PM
From: Jim Bishop	Respond to of 150070

FNTN still sitting, on a billion dollars. Franco-Nevada Mining Corporation TORONTO, Jan. 25 /CNW/ - Unaudited results for the third quarter ended December 31 are as follows: ---------------------------------------- Operating Results 1999 1998 % Change ----------------- ---------------------------------------- Revenues $ 49,974,000 $ 32,198,000 55% ---------------------------------------- Cash flow 29,960,000 26,611,000 13% ---------------------------------------- Net earnings after tax 22,008,000 16,243,000 35% ---------------------------------------- Earnings per share $ 0.14 $ 0.10 40% ------------------ ---------------------------------------- ---------------------------------------- Financial Position ------------------ ------------------------------ Debt Nil Nil ---------------------------------------- Working capital and market value of securities $ 1,040,063,000 $ 832,705,000 25% ---------------------------------------- ---------------------------------------- Unaudited results for the nine months ended December 31 are as follows: ---------------------------------------- Operating Results 1999 1998 % Change ----------------- ---------------------------------------- Revenues $ 166,840,000 $ 92,019,000 81% ---------------------------------------- Cash flow 102,255,000 76,119,000 34% ---------------------------------------- Net earnings after tax 75,302,000 48,302,000 56% ---------------------------------------- Earnings per share $ 0.48 $ 0.31 55% ------------------ ---------------------------------------- ---------------------------------------- Franco-Nevada (FN:TSE) reports strong third quarter and year-to-date earnings despite Franco-Nevada's realized gold price being slightly lower than last year. The increase in earnings is attributable to strong operating performance from core royalties and the added contribution from the new Ken Snyder Mine that began operations in January, 1999. The mine continues to perform well, producing approximately 185,000 ounces of gold equivalent during the nine months. Franco-Nevada is the leading international precious metals royalty company and by market capitalization, the fifth largest gold company in the world. The Company has royalty interests in the world's major gold camps spanning over 5 million acres in six countries. Franco-Nevada has one of the strongest balance sheets in the industry. The Company is debt free and has over $1 billion of working capital and marketable securities. -0- 01/25/2000 For further information: please contact: Ron Binns, Chief Financial Officer at (416) 480-6490 or Sandip Rana, Treasurer at (416) 480-6495 ----------------------------------------------------------------------