Managemenrt

& Directors

Glenn J. Mullan (Interim President & CEO) - Chairman

Mr. Mullan holds a B.Sc. (Geology) from Concordia University and has 30 years of experience in the mining and mineral exploration industries. As a geologist, he has directed exploration programs for diamonds, precious and base metals, across Canada. As an independent prospector, Mr. Mullan has assembled and acquired many mining prospects ranging from grass-roots ventures through advanced-stage projects, many of which became part of Canadian Royalties Inc. at its inception through its Qualifying Transaction. Mr. Mullan was instrumental in assembling the properties which form today the Nunavik Nickel Project. Mr. Mullan is a founder of Canadian Royalties, and from 1998 until 2003, he was also the President and Chief Executive Officer. As part of the Company's efforts to improve its Corporate Governance practices, Mr. Mullan recently completed the Directors' Education Program (DEP), offered through the Institute of Corporate Directors (ICD) and the Desautels Faculty of Management, McGill University.

Daniel Poisson, CA (Interim CFO)

W. Grant Arnold (VP Exploration) – Mr. Grant Arnold graduated from the University of New Brunswick in 1985 with a B.Sc. (geology). He is seasoned explorer experienced in the field of Base metals exploration as well as mine feasibility and development. While with Falconbridge he was involved in consecutive record-breaking Nickel resource increases at Raglan. During his tenure in Matagami he lead the exploration group and was the key team member involved in the Perseverance Zn-Cu discovery (currently under development by Xstrata ), and was a core member for its feasibility study. In 2001 his team received the Prospector of the Year Award at the PDAC. Mr. Arnold also held the position of Geology Superintendent responsible for all exploration activities including mine geology, and participated as a member of the Matagami Mine senior management group.

Patrick Godin (VP Operations & General Mine Manager) –

Mr. Godin graduated in 1991 from Laval University in Mining Engineering. He has extensive experience in open pit and underground mining operations. Prior to joining Canadian Royalties, he was President and General Manager of the Camp Caiman Gold project in French Guyana for Iamgold (Cambior). Prior positions with Cambior include, from 1999 to 2004 the position of manager of the Mouska mine in Rouyn-Noranda, and from 1998 to 1999 the position of Superintendent Projects for the Doyon and Mouska mines.

Robert Ménard (VP Construction and Engineering) –

Mr. Ménard was Vice-President, Projects and Construction for Cambior Inc. for over 12 years. In that capacity, he was responsible for all of Cambior’s development projects, from engineering studies through to site construction, start-up and reclamation. Mr. Ménard participated in the development of the following mining projects: Bouchard Hebert, Gonzague Langlois, Omai Gold Mines, Rosebel Gold Mines, Omai Bauxite Mining, Ressources Orleans, Mine Chimo and Doyon.

C. Jens Zinke (VP Business Development) –

Mr. Zinke has a background in Geophysics as well as in Investment Banking and Investment Management. At Canadian Royalties, his responsibilities include the assessment of business development and financing options. Mr. Zinke holds a M.S. (Mining Engineering & Geophysics) and a Ph.D. (Geophysics), and has related work experience from projects in Russia, South Africa, Norway, Germany, and in the USA. Mr. Zinke gained his financial experience from working as an Investment Banker with Kodiak Capital, as Investment Analyst with Cannell Capital Management, and as an Investment Manager of Protea Ventures LLC, a private equity fund.

R. Bruce Durham (Director) –

Mr. Durham is a Professional Geologist, who graduated from the University of Western Ontario in 1976. He is currently Executive Chairman of Temex Resources Corporation. Between 1998 and 2007, he held various management positions with Canadian Royalties, including as its President (2003-2006), Vice President Exploration and Vice President Business Development. During his career in mineral exploration, Mr. Durham has been predominantly involved with junior mining companies exploring for precious and base metal deposits in Ontario and Quebec, but also with companies exploring across Canada, in the USA, and in Africa. Mr. Durham has been an integral member or leader of various exploration teams credited with the discovery or definition of significant mineral deposits including: the David Bell Mine (Hemlo), the Golden Giant Mine (Hemlo), the Redstone Nickel Mine (Timmins), the Bell Creek Mine (Timmins), as well as several of Canadian Royalties’ nickel-copper-PGM deposits which are part of the Nunavik Nickel Project.

Bryan Coates (Director) –

Mr. Coates received an Honours Bachelor of Commerce degree from Laurentian University in Sudbury, Ontario, and he is a member of the Institute of Chartered Accountants of Ontario. Mr. Coates is currently Vice President Finance and CFO at Osisko Exploration. He was previously Vice President Finance and CFO at Cambior (2001-2007) and participated in the successful development of the $2.2 billion Antamina copper and zinc project in Peru as Vice President Finance and Administration. He also sits on the board of directors of two other resource companies.

David Holowack (Director) –

Mr. Holowack received his MBA from the Ivey School of Business at the University of Western Ontario and his B.Sc. from the University of Waterloo. He is a member of the Institute of Chartered Accountants of Ontario. Currently he is Managing Director of the Pentlan Group Inc., a consultancy specializing in mining and metals. Previously, he was a corporate officer and Vice President Strategy for Falconbridge Limited. In this role he directed commercial and recycling activities and he was instrumental in achieving a long-term multi-billion copper anode and concentrate off-take agreement with Inco. As Director of Marketing for Falconbridge Europe, based in Brussels, Belgium, Mr. Holowack was responsible for nickel and cobalt sales into the European and Indian markets. Mr. Holowack also spent four years working at Falconbridge’s ferronickel mine and smelter in the Dominican Republic. During this time he was responsible for Finance, Information Technology, Purchasing and Logistics.

Raymond Savoie (Director) –

Mr. Savoie graduated in law from the University of Laval and practiced as a notary in Quebec. He held the office of Minister of Mines of Quebec from 1985 to 1990, and subsequently that of Minister of Revenue from 1990-1994. Upon retirement from public service, Mr. Savoie continued his involvement in the resource sector and today is a principal in two publicly traded resource companies, Gastem Inc. and Ditem Exploration Inc., whose activities include oil and gas, and diamond exploration.

Mike Wilson (Director) –

Mr. Wilson has a Masters Engineering degree in Mining (McGill University 1980), and a B.Sc. (Honors) in Geology (University of Western Ontario 1976) He is an established senior engineer and independent technical consultant, having worked throughout North America and internationally, designing mines and economic analysis of the development, construction, and expansion of mining operations for major international mining companies. Mr. Wilson currently works with McIntosh Engineering (North Bay, Sudbury, Yellowknife & Tempe, Arizona) and is an independent director with Canadian Royalties.