International Royalty Corporation (IRC) was formed for the purpose of acquiring and creating natural resource royalties with a specific emphasis on mineral royalties. Royalty interests include acquired royalty interests in production stage, development stage, feasibility stage, and exploration stage properties. During the year ended December 31, 2008, approximately 91% of the Company’s revenues were generated from the Voisey’s Bay Royalty. The Company generates revenue from mineral royalties. On October 9, 2008, the Company acquired three additional royalties on the Pinson gold project in Nevada, United States. On September 11, 2008, the Company acquired an overriding royalty interest on the Skyline Coal Mine located in Utah, United States.