To: CIMA who wrote (64034 ) 9/21/2000 5:48:26 PM From: Jim Bishop Respond to of 150070 TORONTO, Sept. 21 /CNW/ - Franco-Nevada Mining Corporation Limited (TSE:FN) today announced the confirmation by its Shareholders of a Shareholder Rights Plan (the "Plan") to protect the Company's shareholders from unfair, abusive or coercive take-over strategies, including the acquisition of control of the Company through a take-over bid that does not treat all shareholders equally or fairly or give sufficient time to fully assess all alternatives for shareholders in the event of a bid. In making the announcement, the Company said it is not aware of any pending or threatened take-over bid for the Company. To implement the Plan, the Board of Directors of the Company have authorized the issue of one Right in respect of each common share of the Company outstanding to holders of record at 5:00 p.m. (Toronto time) on September 21, 2000. The Rights will trade with the common shares and be represented by certificates representing common shares. It is not the intention of the Plan to prevent take-over bids. Those bids that meet certain requirements intended to protect the interest of shareholders are permitted under the Plan to be "Permitted Bids". A Permitted Bid is a take-over bid made by way of a circular for all outstanding common shares, which remains open for at least 45 days and satisfies certain other conditions. In the event of a take-over bid that does not meet the Permitted Bid requirements, the Rights will entitle all other shareholders to purchase additional common shares at a substantial discount to the market value of such shares. Franco-Nevada is the leading precious metals royalty company in the world. The Company has royalty interests in the world's major gold camps and a total royalty portfolio spanning 5 million acres in six countries. Franco- Nevada has growing profits, remains debt free and fully unhedged, and has over $1 billion of working capital and marketable securities. -0- 09/21/2000 For further information: Seymour Schulich, Chairman and Co-CEO, Tel: (416) 480-6496; Sharon E. Dowdall, Vice President, General Counsel & Secretary, Tel: (416) 480-6491; franco-nevada.com