AMEX:ROY

    TSX:IRC

    DENVER, CO, Sept. 4 /PRNewswire-FirstCall/ - International Royalty
Corporation (AMEX: ROY, TSX: IRC) (the "Company" or "IRC") is pleased to
announce that it has acquired four mineral royalties from Atna Resources
Ltd. ("Atna") for US $20 million in cash. The portfolio includes a net
smelter return ("NSR") interest in all precious metals produced from the
development-stage Wolverine massive sulphide project in the Yukon. These
acquisitions expand the number of royalties in IRC's portfolio to 84.

    The Wolverine royalty is a sliding-scale, net smelter return that
applies to silver and gold production. The royalty rate is a step function
based on the price of silver. At silver prices below US$5.00 per ounce,
there is no royalty payment; at prices between US$5.00 and US$7.50 per
ounce, the rate is 3.778%; and at prices above US$7.50, the rate is 9.445%.
For illustration purposes, using a US$830 per ounce gold price and a
US$13.50 per ounce silver price, IRC would expect to receive approximately
US$6 million annually from this royalty once the project is commissioned.

    Wolverine is owned by Yukon Zinc Corp. ("Yukon Zinc") which was
recently acquired by two Chinese firms, Jinduicheng Molybdenum Group, Ltd.
("Jinduicheng") and Northwest Nonferrous International Investment Company,
Ltd. Jinduicheng is one of the two largest molybdenum producers in
China(1).

    According to a Technical Report(2) prepared by Wardrop Engineering Inc.
on October 22, 2007, life-of-mine operating costs at the Wolverine mine are
expected to be US$0.265 per pound of zinc after deducting by-product
revenue on the basis of average metal prices over the preceding two years.

    The Wolverine deposit contains Proven and Probable Reserves of 5.15
million tonnes grading 9.7% zinc, 282 grams per tonne of silver (46.7
million contained ounces), 0.9% copper, 1.4 grams per tonne of gold
(225,000 contained ounces), and 1.3% lead. Projected mine life based on
reported Reserves is eight years. There is an additional Inferred Resource
of 1.7 million tonnes grading 12.2% zinc, 385 grams per tonne of silver,
1.2% copper, 1.7 grams per tonne gold, and 1.7% lead.(3)



    The other acquired royalties include:

    1. 3% NSR royalty on the feasibility-stage McDonald-Keep Cool epithermal
       gold deposits in Montana, United States. This project is operated by
       Newmont Mining Corp. The royalty applies to the exploration lands
       surrounding the current McDonald deposit as well as approximately
       2/3 of the entire Keep Cool deposit.

    2. A 0.4% NSR royalty on the exploration-stage Minera Hispaniola copper
       and gold project in the Dominican Republic. This project is operated
       by Energold Mining Limited and GoldQuest Mining Corp.

    3. A 2.5% NSR royalty on the exploration-stage Mina Cancha precious
       metals epithermal project in Argentina. The project operator, Yamana
       Gold Inc., holds a first right of refusal on this royalty.
    This press release has been reviewed by Martin Raffield of SRK
Consulting (U.S.) Inc, a qualified person for the purposes of National
Instrument 43-101.

    Notice of Webcast and Conference Call:

    --------------------------------------

    The Company will host this webcast and conference call on Friday,
September 5, 2008 at 11:00 AM (EDT) / 9:00 AM (MDT) to discuss these
acquisitions.

    To participate via webcast, go to:
http://w.on24.com/r.htm?e=118834&s=1&k=558E0F8142821AC3AFD7509E3465B750

    To participate in the conference call, please dial (416) 644-3422 or
North American toll free (800) 594-3790, at least five minutes prior to the
scheduled start of the call.

    A replay of the conference call will be available as of 1:00 PM (EDT) /
11:00 AM (MDT) September 5, 2008 to September 12, 2008. Please dial (877)
289-8525 and enter the following access code 21282013#.

    A copy of the presentation will be available for download on the
Company's website at http://www.internationalroyalty.com.



    References:
    -----------

    1. http://www.researchandmarkets.com/reports/c79031
    2. Wardrop Amended Technical Report on the Wolverine Property-Finlayson
       District, Yukon, October 22, 2007
    3. Yukon Zinc Corporation press release January 22, 2007
    International Royalty Corporation

    ---------------------------------

    International Royalty Corporation (IRC) is a global mineral royalty
company. IRC holds 84 royalties including an effective 2.7% NSR on the
Voisey's Bay mine, a sliding-scale NSR on the Pascua gold project in Chile,
a 1.5% NSR on the Las Cruces copper project in Spain and a 1.5% NSR
approximately 3.0 million acres of gold lands in Western Australia. IRC is
senior listed on the Toronto Stock Exchange (TSX:IRC) as well as the
American Stock Exchange (AMEX: ROY ).

    On behalf of the Board of Directors,

    INTERNATIONAL ROYALTY CORPORATION

    Douglas B. Silver

    Chairman and CEO

    Cautionary Statement Regarding Forward-Looking Statements

    Some of the statements contained in this release are forward-looking
statements and assume that the acquisition of the royalty interests from
Atna will be completed, such as statements that describe IRC's planned
acquisition of royalty interests in the Wolverine, McDonald-Keep Cool,
Minera Hispaniola and Mina Cancha projects, reported state of development
in such projects; and estimated mine life, costs and projected capital
costs at these projects; mineralization and reported Proven and Probable
Reserves and Inferred Resources on the Wolverine project; and projected
benefits and timing of acquisitions. Information related to the projects;
estimated reserves, resources and mineralization; timing of development,
construction and costs; and projected production and revenues is derived
from information provided to IRC by Atna Resources Ltd. and/or the
operators and may constitute forward-looking statements. Since
forward-looking statements are not statements of historical fact and
address future events, conditions and expectations, forward-looking
statements by their nature inherently involve unknown risks, uncertainties,
assumptions and other factors well beyond IRC's ability to control or
predict. Actual results and developments may differ materially from those
contemplated by such forward-looking statements. Material factors that
could cause actual revenues to differ materially from those contained in
such forward-looking statements include non-completion of the acquisition
of the royalties from Atna Resources Ltd., fluctuations in mineral
commodity prices; timing of production; accuracy of the operators'
projections and production capacities; the effects of weather, operating
hazards, adverse geological conditions and availability of labor, materials
and equipment; changes in governmental laws, regulations, economic
conditions or shifts in political attitudes or stability. These
forward-looking statements should not be relied upon as representing IRC's
views as of any date subsequent to the date of this release. IRC has relied
on published data from Atna Resources Ltd. and public records, which it
cannot independently verify. Accordingly, readers should not place undue
reliance on any forward-looking statements.

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