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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: mimur who wrote (14282)	7/9/2006 10:29:53 AM
From: aknahow	Respond to of 78419

Yes, indeed. And the best news would be the worst news. I for one would cheer to discover at some nearby future date that loss of this litigation had cost CZZ over #100,000,000 in a period of just three years.

To: mimur who wrote (14282)	7/11/2006 10:42:03 AM
From: aknahow	Respond to of 78419

mimur, let me demur on you concerns over litigation. This is a minor issue, concerning only the 1% nsr on any future production from the expo properties. CZZ won previous suits involving not just smelter returns but the claims themselves. This is a non issue, since even if, and it is a big IF, CZZ lost, the more the claimant collected on the smelter returns would only be the result of CZZ smelting more ore. Press Release Source: Canadian Royalties Inc. Canadian Royalties Inc.: Vendor Seeks Return of NSR Thursday April 13, 5:17 pm ET MONTREAL, QUEBEC--(CCNMatthews - April 13, 2006) - Canadian Royalties Inc. (TSX:CZZ - News) reports that the vendor of a 1% NSR royalty in the Expo-Ungava property is now seeking to have the sale of the NSR rescinded. On January 12, 2001, 582556 Alberta Inc., the Vendor, became a party to the Option/Joint Venture Agreement in respect of the Expo-Ungava property, for the sole purpose of selling its 1% net smelter return royalty to Canadian Royalties Inc., in consideration for $25,000. The Vendor alleges that Canadian Royalties was in possession of certain material information at the time of negotiating the sale. The arguments contained in the Statement of Claim appear similar to those put forth by Gogama Gold Inc., also a party to the NSR sale on January 12, 2001. ADVERTISEMENT click here Canadian Royalties' position is that this action is wholly without merit and the Company denies the allegations contained therein. Canadian Royalties owns an undisputed 70% interest in the Expo Ungava property, and will vest as to an additional 10% interest upon the delivery of a bankable feasibility study. In addition, Canadian Royalties owns the 2% NSR Royalty on the property, the subject of the actions by 582556 Alberta Inc. and Gogama Gold Inc.