RZZ Abitibi Royalties Inc

Abitibi Royalties Inc. (RZZ-TSX-V: “Abitibi Royalties” or the “Company”) announces that it has received conditional acceptance from the TSX Venture Exchange (“TSX-V”) to conduct the normal course issuer bid (the “2019 NCIB”). Under the 2019 NCIB, Abitibi Royalties may purchase for cancellation, from time to time at its discretion, up to 626,695 of its issued and outstanding common shares (representing 5% of Abitibi Royalties’ issued and outstanding common shares). Purchases will be made on the open market through the facilities of the TSX-V, with TD Securities Inc. conducting the 2019 NCIB on behalf of Abitibi Royalties. The Company is unique among its peer group, as it has been repurchasing its own shares since 2015. Abitibi Royalties outstanding and fully diluted share total are the same and currently stands at approximately 12,540,910.

Abitibi Royalties is of the view that repurchase of its issued shares, to be returned to treasury for cancellation, is warranted when the trading price of the Company’s shares, conservatively calculated, is below management’s estimated after tax net present value. Accordingly, the purchase for cancellation of shares by Abitibi Royalties during these times will benefit the remaining shareholders by increasing their proportionate ownership in the Company.

The 2019 NCIB will commence on October 6, 2019, and will terminate on October 5, 2020, or such earlier time as the 2019 NCIB is completed or at the option of Abitibi Royalties. Any shares acquired by Abitibi Royalties pursuant to the 2019 NCIB will be cancelled.

Under the 2019 NCIB, Common Shares may be repurchased in open market transactions on the TSX-V or by such other means as may be permitted by the TSX-V and under applicable Canadian securities laws. The price paid by Abitibi Royalties will be based on the market price at the time of purchase and not higher than the last independent trade of a board lot (board lot = 100 shares). As part of the 2019 NCIB, Abitibi Royalties may enter into a pre-defined plan with its broker (TD Securities Inc.) to allow for the repurchase of shares at times when Abitibi Royalties ordinarily would not be active in the market due to its own internal trading blackout periods, insider trading rules or otherwise. Any such plans entered into with the Company’s broker will be adopted in accordance with applicable Canadian securities laws.

In accordance with TSX-V policy, purchases by Abitibi Royalties under the 2019 NCIB are limited, when aggregated with the total of all other purchases in the preceding 30 days, to a maximum of 2% of the Company’s issued and outstanding shares at the time the purchases are made.

The actual number of Common Shares which may be purchased, and the timing of such purchases, will be determined by Abitibi Royalties. Decisions regarding purchases will be based on market conditions, share price, best use of available cash, and other factors including other options to expand the Company’s portfolio of assets.

Under the 2018 normal course issuer bid (the “2018 NCIB”), Abitibi Royalties has purchased to date an aggregate 64,500 of its common shares through the facilities of the TSX Venture Exchange, which commenced October 6, 2018 and will end on October 5, 2019. The common shares purchased to date by the Company under the 2018 NCIB were purchased at an average price of $10.94 per common share. All of the common shares purchased to date under the 2018 NCIB have been returned to the Company’s treasury and cancelled.

Abitibi Royalties previously purchased an aggregate of 13,500 of its common shares through the facilities of the TSX Venture Exchange under a normal course issuer bid (the “2017 NCIB”) conducted by the Company, which commenced October 6, 2017 and ended on October 5, 2018. Common shares purchased by the Company under the 2017 NCIB were purchased at an average price of $9.06 per common share. The 13,500 common shares purchased to date under the 2017 NCIB have been returned to the Company’s treasury and cancelled.

About Abitibi Royalties

Abitibi Royalties owns various royalty interests at the Canadian Malartic Mine near Val-d’Or Québec. In addition, the Company is building a portfolio of royalties on early-stage properties near producing mines. The Company is unique among its peers due to its strong treasury, no debt, quarterly dividend, share buyback program and limited number of shares (approximately 12.5 million).

For additional information, please contact:

Shanda Kilborn – Director, Corporate Development2864 chemin SullivanVal-d’Or, Québec J9P 0B9Tel.: 1-888-392-3857Email: info@abitibiroyalties.com

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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.