Abitibi Royalties Update on Canadian Malartic Mine Royalties Plus Two New Royalties Acquired Near the Rainy River Mine & 777 Mine

VAL-D'OR, QUEBEC--(Marketwired - Feb. 21, 2017) - Abitibi Royalties Inc. (TSX VENTURE:RZZ) ("Abitibi Royalties" or the "Company") is pleased to provide an update on the Company's various assets, including its net smelter royalties ("NSR") at the Canadian Malartic Mine, near Val-d'Or, Québec. In addition, the Company has acquired two new royalties, which are located near New Gold's Rainy River Mine and Hudbay's 777 Mine.

Malartic CHL - Odyssey North Zone (3% NSR)

Abitibi Royalties holds a 3% NSR on the Odyssey North Zone located within the Malartic CHL Property. Odyssey North is proximate to the Odyssey South Zone and together, these zones comprise the "Odyssey Zones", "Odyssey deposit", "Odyssey", "Odyssey property" or "deposits" that is east of the main Canadian Malartic Mine open pit. The Canadian Malartic Mine and Malartic CHL Property are jointly operated by Agnico Eagle Mines Limited ("Agnico Eagle") and Yamana Gold Inc. ("Yamana") through the Canadian Malartic General Partnership. The information in this news release regarding the Odyssey Project and the internal zones is based on and derived from information contained in Agnico Eagle's Q4-2016 news release (February 15, 2017), Yamana's Q4-2016 news release (February 16, 2017) Agnico Eagle's Q2-2016 news release (July 27, 2016) and Yamana's Q2-2016 news release (July 28, 2016) and without independent verification.

a) Initial Resource Estimate Odyssey Property

The mine operators reported that during 2016, a total of 155 holes (119,396 metres) were completed at the Odyssey Property. The 2016 results have been incorporated with previous work to estimate an initial mineral resource for the Odyssey Property (inclusive of Odyssey North and South zones). The initial inferred mineral resource was estimated by the mine operators at 1.43 million ounces of gold (20.7 million tonnes grading 2.15 g/t gold). The Company anticipates receiving in Q2 2017 a separate report from the mine operators that outlines the total resource attributable to the Malartic CHL Property where Abitibi Royalties holds a 3% NSR.

b) New Internal Zone

The mine operators also announced a number of significant drill results from the newly discovered internal zones that extend from the Odyssey North Zone. These results were not included in the initial Odyssey Project resource calculation stated above.

The mine operators state that the drilling carried out to date indicates that the internal zones could increase mineral resources and enhance the economics of the Odyssey Project by adding higher grade ounces that would require minimal additional infrastructure to access.