RZZ Abitibi Royalties Inc

Abitibi Royalties Inc. (TSX VENTURE:RZZ) ("Abitibi Royalties" or the "Company")
is pleased to advise on the current status of the proceedings that it filed with
the Quebec Superior Court on May 30, 2014. 


Abitibi Royalties filed these proceedings to seek provisional, interlocutory and
permanent injunction orders to enforce its contractual rights under the joint
venture arrangement between Abitibi Royalties and Osisko Mining Corporation
("Osisko") to explore and develop the Malartic CHL property, in which Abitibi
Royalties holds a 30% free carried interest. The Malartic CHL property is
located immediately adjacent to and on trend with the Canadian Malartic Mine in
Quebec, currently owned and operated by Osisko. 


Abitibi Royalties filed these proceedings in response to Osisko, Agnico Eagle
Mines Limited ("Agnico") and Yamana Gold Inc. ("Yamana") entering into an
arrangement agreement dated April 16, 2014 (the "Arrangement Agreement")
pursuant to which Osisko agreed to transfer all of its Canadian Malartic assets,
including the Malartic CHL property, to a new partnership that would ultimately
be owned by Agnico and Yamana as to 50% each. 


Abitibi Royalties claims that under the terms of its various agreements with Osisko:



1.  it had the right to consent to the transfer of the Malartic CHL property
    under the provisions of the Arrangement Agreement; 
2.  its rights under the joint venture agreement with Osisko have not been
    respected; and 
3.  its rights to re-acquire the Malartic CHL property under a right of
    first refusal have been triggered. 



Following the issuance of Abitibi Royalties' proceedings, Osisko, Agnico and
Yamana then agreed to make several significant changes to the Arrangement
Agreement in response to Abitibi Royalties' claims. These included the removal
of the Malartic CHL property from the definition of Canadian Malartic assets
such that:




--  the Malartic CHL property is not being transferred to the partnership
    along with the other Canadian Malartic assets and will be retained by
    Osisko; and 
    
--  the proposed 5% NSR to be granted on the Canadian Malartic assets does
    not include the Malartic CHL property. 



As a result, at a Court hearing on June 5, 2014, Abitibi Royalties agreed to
postpone the hearing of its motion for a provisional injunction and advised the
Court that, notwithstanding the proposed changes to the Arrangement Agreement,
it would be continuing to take steps to enforce its consent rights and its right
of first refusal over the Malartic CHL property. At the same time, Osisko
advised the Court that it would be seeking to have Abitibi Royalties' claims
sent to arbitration. Osisko's request has been scheduled to be heard by the
Court on June 13, 2014. 


Abitibi Royalties has also advised Osisko, Agnico and Yamana that,
notwithstanding the changes proposed to be made to the Arrangement Agreement,
Abitibi Royalties intends to appear in Court on June 9, 2014, to make
submissions at the hearing for final approval of the Arrangement Agreement to
ensure that all of Abitibi Royalties' rights are respected and preserved.
Furthermore, Abitibi Royalties intends to continue with all legal steps that are
required to ensure that all of its rights under its agreements with Osisko and
as a 30% owner of the Malartic CHL property are enforced. These rights include
those now asserted under the existing claims and also its right to institute
further proceedings as may be required.


Cancellation of options; Two new director nominees standing for election 

Abitibi Royalties also announces that options previously granted to each of its
four directors, entitling each director to purchase 32,500 common shares of
Abitibi Royalties have been cancelled by written agreement between Abitibi
Royalties and each of the directors in order to create room in its option plan
reserve to grant options to Joseph Groia, a founder of Groia & Company, and Ian
Ball, President of McEwen Mining Inc., two recently engaged consultants, who
will also be standing for election to the Abitibi Royalties' board at this
year's Annual General and Special Meeting to be held on June 30, 2014.


About Abitibi Royalties Inc. 

Abitibi Royalties holds 100% title to the Luc Bourdon and Bourdon West Prospects
in Ontario and a 30% free-carried interest on the Malartic CHL property near
Val-d'Or, Quebec which is the subject of a joint venture with Osisko. In
addition, the Company holds a 2% net smelter royalty interest in one additional
claim held by Osisko, and may acquire and generate other property and royalty
interests.


Gold Valley Mines Ltd. holds an approximate 62.7% interest in Abitibi Royalties Inc.

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 expressional, 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
performances and actual results or realities may differ materially from those in
forward looking statements. Forward looking statements are based on the beliefs,
estimates and opinion 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.


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 and accuracy of this news release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Glenn J. Mullan
President
2864 chemin Sullivan
Val-d'Or, Quebec J9P 0B9
819-824-2808, x 204
glenn.mullan@goldvalleymines.com

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