TSXV: CAA
VANCOUVER, Aug. 15, 2011 /PRNewswire/ - Callinan Royalties
Corporation has received interim payments of $4,217,740 and $88,667.50 from HudBay Minerals Inc.
These figures respectively represent 75% of an estimate by
Hudbay Minerals Inc. of Callinan's 6 2/3 % net profits
interest and $0.25 per ton of ore
mined for the quarter ended June 30,
2011.
The quarterly payments are due to Callinan's royalty interests
on lands that include the 777 Mine at Flin Flon, Manitoba.
On Behalf of the Board of Directors,
Roland Butler
Roland Butler, CEO
About Callinan
Callinan Royalties Corporation is a mineral
royalty company based in Canada. Its principal business
activities centre on acquiring and creating a portfolio of mineral
royalties while diligently managing its royalty interests and
investments.
The Corporation currently has two producing
royalties. Callinan holds a 6 2/3 % net profits interest royalty
and a $0.25 per ton royalty on lands
that include the 777 Mine owned by Hudbay Minerals Inc. located at
Flin Flon, Manitoba as well as the
adjacent 777 North Mine scheduled for production in 2012.
Callinan also holds the War Baby property (777 Deeps) and an
associated royalty option located in proximity to the 777 Mine.
Callinan is a Tier 1 company listed on the TSXV
under the symbol CAA. The Corporation has a strong financial
position with approximately $30
million in cash. There are currently 49,009,000 shares
outstanding.
For more information, please visit
www.callinan.com.
Cautionary Statement on Forward-Looking
Information
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
Certain of the information presented in this
News Release may constitute "forward-looking statements" or
"forward-looking information" within the meaning of Canadian
securities legislation (together referred to as "forward-looking
statements"). . The forward-looking statements are subject to
risks, uncertainties and other factors that may cause actual
results to be materially different from those expressed or implied
by such forward-looking statements, including any delays in the
receipt of consents or approvals. Although Callinan Royalties has
attempted to identify important factors that could cause actual
actions, events or results to differ materially from those
described in forward-looking statements, there may be other factors
that cause actions, events or results not to be as anticipated,
estimated or intended. There can be no assurance that such
statements will prove to be accurate as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking statements contained in this News Release and in
any document referred to in this News Release. Forward-looking
statements are made based on management's beliefs, estimates and
opinions on the date the statements are made and Callinan Royalties
undertakes no obligation to update forward-looking statements if
these beliefs, estimates and opinions or other circumstances should
change, except as required by applicable law.
SOURCE Callinan Royalties Corporation