Franco-Nevada for C$262 Million

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VANCOUVER, BRITISH COLUMBIA and TORONTO, ONTARIO--(Marketwire - Jan. 5, 2011) -



This press release contains forward-looking statements. Reference should be made to the "Cautionary Statements on Forward-looking Information" at the end of this press release.


Further to their press release dated December 22, 2010, Quadra FNX Mining Ltd. (TSX:QUX) ("Quadra FNX") and Franco-Nevada Corporation (TSX:FNV) ("Franco-Nevada") announced today that Quadra FNX has completed the sale of its 56,464,126 common shares of Gold Wheaton Gold Corp. ("Gold Wheaton") to Franco-Nevada for aggregate gross proceeds of C$262,558,185 or C$4.65 per share. Further to their press release dated December 13, 2010, Franco-Nevada and Gold Wheaton are in the process of negotiating and finalizing a definitive arrangement agreement pursuant to which Franco-Nevada would acquire the issued Gold Wheaton common shares that it does not already own. The consideration in that transaction is valued at C$5.20 per share. If the transaction is completed on these terms, Quadra FNX's former Gold Wheaton shareholdings will be topped up to $5.20 per share for a total cash consideration of approximately C$293 million.



About Quadra FNX



Quadra FNX Mining Ltd. is a leading mid-tier copper mining company with corporate offices in Vancouver, B.C. and Toronto, Ontario. Quadra FNX produces copper, gold and platinum group metals from its operating mines: Robinson in Nevada, Carlota in Arizona, Franke in northern Chile, Levack, which includes Morrison, Podolsky and McCreedy West in Sudbury, Ontario. Quadra FNX possesses several advanced development projects, including the Sierra Gorda copper-molybdenum project in Chile and the Victoria project, an advanced exploration project, in Sudbury. Quadra FNX employs approximately 1,700 people in North and South America.



About Franco-Nevada



Franco-Nevada Corporation (TSX:FNV) is a gold-focused royalty company with additional interests in platinum group metals, oil and gas and other assets. Its portfolio of high-margin cash flow producing assets is located principally in the United States, Canada and Mexico. Franco-Nevada also holds a pipeline of potential future cash flowing assets that are being developed, permitted or explored.