RZZ Abitibi Royalties Inc

Abitibi Royalties (TSX VENTURE:RZZ) (the "Company" or "Abitibi Royalties") is
pleased to provide an update to its shareholders and announces that it has
received initial gold mineral reserve and resource estimates from Osisko Mining
Corporation ("Osisko") on the portion of the Charlie and Gouldie gold deposits
that lie within the single claim (the "Royalty Claim") held by Osisko and on
which Abitibi holds a 2% Net-Smelter-Return ("NSR"). The Royalty Claim is
located in Malartic, Quebec and is contiguous to the Canadian Malartic Mine,
currently being mined for gold by Osisko. 


The information received from Osisko is summarized as follows:



----------------------------------------------------------------------------
                                             Ore Gold Grade   Contained Gold
Category                 Area       Ore Tons          (g/t)         (ounces)
----------------------------------------------------------------------------
Proven                                                                      
 Reserves     Gouldie-Charlie        719,374           1.14           26,301
----------------------------------------------------------------------------
Probable                                                                    
 Reserves     Gouldie-Charlie      2,932,363           0.97           91,561
----------------------------------------------------------------------------
Proven &                                                                    
 Probable                                                                   
 Reserves     Gouldie-Charlie      3,651,736           1.00          117,863
----------------------------------------------------------------------------



The following resources, which have also been provided to Abitibi by Osisko, are
in addition to the reserves noted above:




----------------------------------------------------------------------------
                                                  Gold Grade  Contained Gold
Category                  Area           Tons          (g/t)        (ounces)
----------------------------------------------------------------------------
Measured                                                                    
 Resources     Gouldie-Charlie        763,893          1.089          26,757
----------------------------------------------------------------------------
Indicated                                                                   
 Resources     Gouldie-Charlie      2,720,641          0.772          67,533
----------------------------------------------------------------------------
Measured &                                                                  
 Indicated                                                                  
 Resources     Gouldie-Charlie      3,484,534          0.842          94,290
----------------------------------------------------------------------------
Inferred                                                                    
 Resources     Gouldie-Charlie        907,300          0.807          23,541
----------------------------------------------------------------------------



If all required authorizations are received in a timely manner from the Quebec
government allowing mining of the Gouldie and Charlie deposits, and if the
Royalty Claim achieves commercial production, Abitibi is to receive a royalty
equal to 2% of the net smelter returns derived from the Royalty Claim. Osisko is
solely responsible for all of the costs required to bring the Royalty Claim to
commercial production. 


Glenn J. Mullan has said: "As operator, Osisko has provided us with their
estimate of the gold reserves, and resources, on the portion of the Charlie and
Gouldie gold deposits that lie completely within the Royalty Claim and which we
believe to be potentially beneficial to our shareholders. The Company also
announced indicated and inferred resources on January 17th, 2012 and March 2,
2012 on the Jeffrey Zone which forms part of the Malartic CHL Property." 


Glenn J. Mullan, P. Geo (OGQ and APGO (Temporary)) and Chief Executive Officer
of Abitibi Royalties, is the Qualified Person (as such term is defined in
National Instrument 43-101) who has reviewed this news release and is
responsible for the technical information reported herein. 


About Abitibi Royalties Inc.: Abitibi Royalties Inc. holds title to interests in
the Luc Bourdon and Bourdon West Prospects (also known as the McFaulds Lake
Property) and a 30% free carried interest on the Malartic CHL Property which is
the object of a joint venture with Osisko Mining Corporation. In addition, the
Company holds a 2% net smelter royalty interest in one claim held by Osisko
Mining Corporation, and may acquire and generate other property and royalty
interests.


Forward Looking Statements: 

This news release contains certain statements that may be deemed
"forward-looking statements. Forward looking statements are statements that are
not historical facts and are generally, but not always, identified by the words
"expects", "plans", "anticipates", "believes", "intends", "estimates",
"projects", "potential" and similar expressions, or that events or conditions
"will", "would", "may", "could" or "should" occur. Although the Company believes
the expectations expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of future performance
and actual results or realities may differ materially from those in forward
looking statements. Forward looking statements are based on the beliefs,
estimates and opinions of the Company's management on the date the statements
are made. Except as required by law, the Company undertakes no obligation to
update these forward-looking statements in the event that management's beliefs,
estimates or opinions, or other factors, should change.

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