Engagement of Micon International Limited

VAL-D'OR, QUÉBEC -- Nov. 22, 2011 - Abitibi Royalties Inc. ("Abitibi Royalties" or the "Company", (TSX VENTURE:RZZ) announces the engagement of Micon International Limited ("Micon") as an independent consultant to audit results prepared by Osisko Mining Corporation ("Osisko") on the Jeffrey Zone only, which forms part of the Malartic CHL Property currently the object of a joint venture with Osisko and in which the Company holds a 30% free carried interest to production. The results arising from Micon's review are expected to be available during the course of the first quarter of 2012, at which time additional details will be provided.

About Micon International Limited: Micon has provided consulting services to the international mining industry since 1988, with particular focus upon mineral resource estimations, metallurgical services, mine design and production scheduling, preparation of pre-feasibility and feasibility studies, independent reviews of mining and mineral properties, project monitoring, independent engineer roles, financial analysis and litigation support.

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 the Malartic CHL Property, plus a 2% net smelter royalty interest in one claim held by Osisko, which was previously held by Golden Valley Mines Ltd. and vended to Osisko, and may acquire and generate other property and royalty interests.

Forward Looking Statements: This news release contains certain forward-looking statements. These forward-looking statements are subject to a variety of risks and uncertainties beyond the Company's ability to control or predict and are not to be interpreted as guarantees for future performance. These forward-looking statements could cause actual events or results to differ materially from those anticipated in such forward-looking statements. All forward-looking statements speak only as of the date of this news release and the Company does not undertake any obligation to update or publicly release any revisions to such forward-looking statements to reflect events, circumstances, or changes in expectations after the date hereof, except as required by law. Accordingly, readers should not place undue reliance on such forward-looking statements.

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 news release.

CONTACT INFORMATION

Glenn J. Mullan
Director and CEO
819-824-2808, x 204
glenn.mullan@goldenvalleymines.com