🕐19.01.10 - 14:54 Uhr

Plan of Arrangement between Royal Gold and International Royalty Corporation Mov
es Forward with Procurement of Interim Order



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Plan of Arrangement between Royal Gold and International Royalty
Corporation Moves Forward with Procurement of Interim Order
DENVER, COLORADO.

JANUARY 19, 2010: ROYAL GOLD, INC.
(NASDAQ:RGLD; TSX:RGL) and INTERNATIONAL ROYALTY CORPORATION
("IRC") (TSX:IRC; NYSE-A:ROY) today announced that they obtained an Interim Order
from the Ontario Superior Court of Justice approving the calling, holding and conducting of a
special meeting of the IRC shareholders to consider the Plan of Arrangement ("Arrangement")
between Royal Gold and IRC as announced on December 18, 2009, whereby Royal Gold would
acquire all of the issued and outstanding common shares of IRC.
Mailing of the meeting materials to IRC shareholders is planned to commence today.

All
shareholders of record as of January 14, 2010, will receive a Notice of the Meeting, Management
Information Circular, Form of Proxy, Letter of Transmittal and an Election Form.

The meeting
materials will also be available at www.sedar.com and www.sec.gov.

The special meeting of
IRC shareholders to approve the combination will be held on Tuesday, February 16, 2010, at
9:00 a.m.

MST at the Inverness Hotel and Conference Center, Evergreen Room, 200 Inverness
Drive West, Englewood, Colorado.

The hearing for the Final Order is expected to take place on
Friday, February 19, 2010, subject to the approval of the Arrangement by IRC shareholders at
the special meeting.
Under the Arrangement, IRC shareholders may elect to receive either C$7.45 in cash or
0.1385 common shares of Royal Gold or a combination of both, subject to a maximum of
US$350 million in cash and a maximum of 7.75 million common shares of Royal Gold.

If IRC
shareholders elect to receive more than approximately US$314 million in cash, the number of
Royal Gold common shares issued will be reduced on a pro-rated basis until such cash election
reaches a maximum of US$350 million.

Assuming the maximum share election, the
consideration under the Arrangement will consist, on average, of 0.0771 Royal Gold common
shares plus US$3.12 in cash for each IRC common share, implying 56% share consideration.
Assuming the maximum cash election, the consideration under the Arrangement will consist, on
average, of 0.0700 Royal Gold common shares plus US$3.48 in cash for each IRC common
share, implying 51% share consideration.
Royal Gold has entered into voting agreements with IRC directors, senior officers, and
several significant IRC shareholders who collectively represent approximately 34% of IRC
Common Shares on a fully-diluted basis.
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About Royal Gold
Royal Gold is a precious metals royalty company engaged in the acquisition and
management of precious metal royalty interests.

The Company currently owns royalties on 118
properties on six continents, including royalties on 21 producing mines and 12 development
stage projects.

Royal Gold is publicly traded on the NASDAQ Global Select Market under the
symbol "RGLD," and on the Toronto Stock Exchange under the symbol "RGL."
About International Royalty Corporation
International Royalty is a global mineral royalty company.

IRC currently holds 84
royalties including an effective 2.7% NSR on the Voisey"s Bay mine, a sliding-scale NSR on the
Chilean portion of the Pascua-Lama project, a 1.5% NSR on the Las Cruces project and a 1.5%
NSR on 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 NYSE Amex (NYSE-A:ROY).
For further information, please contact:
Karen Gross
Vice President and Corporate Secretary
(303) 575-6504
Cautionary "Safe Harbor" Statement Under the Private Securities Litigation Reform Act
of 1995: With the exception of historical matters, the matters discussed in this press release are
forward-looking statements that involve risks and uncertainties that could cause actual results to
differ materially from projections or estimates contained herein.

Such forward-looking
statements include the statement regarding the proposed acquisition of IRC.

The Company
disclaims any obligation to update any forward-looking statement made herein.

Readers are
cautioned not to put undue reliance on forward-looking statements.




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