MONTREAL, Nov. 14 /CNW Telbec/ - Canadian Royalties Inc. (TSX:CZZ) ("Canadian Royalties" or the "Corporation") announces that it filed its financial results on November 14, 2008, for the third quarter ended September 30, 2008.

Financial Results Quarter Ended September 30, 2008

For the nine month period ended September 30, 2008, the Corporation is reporting net loss of $12.8 million or $0.13 per share compared to a loss of $0.9 million or $0.01 per share for the same period last year.

The Corporation has made satisfactory progress on the implementation of the Asset Conservation Plan ("ACP") announced by way of press release on August 5, 2008. Critical construction activities have been completed and beginning of October all construction personnel were demobilized from the Nunavik Nickel Project site. All engineering designs and detailed technical plans have been inventoried and archived to enable an orderly project re-start when more favourable market conditions return. Non essential equipment has been backhauled from the Project site and special care and maintenance measures taken to protect equipment and material left on site. Permanent presence will be maintained on site. The implementation of the ACP and temporary suspension of the Project development has led to the departure of many of the Corporation's senior executives, employees and consultants.

The Corporation's 2008 field exploration campaign was completed and the analysis of the results are progressing.