February 24, 2005 OTTAWA, ONTARIO -- The Royal Canadian Mint today endorsed the federal government's move to amend Registered Retirement Savings Plan (RRSP) eligible investments, tabled in the 2005 Federal Budget. The amendment allows investors to include investment grade precious metals of gold and silver in an RRSP. Investment grade precious metals would include Canadian produced coins and bars with a minimum purity of 99.5% for gold, 99.9% and for silver. Legal tender bullion coins will qualify if they are produced by the Royal Canadian Mint and all or substantially all of their fair market value is attributable to their precious metal content. The change will be effective for investment made on or after February 23, 2005. "The Royal Canadian Mint sees this as a great benefit to Canadian investors, the precious metals industry and to the Mint," said David C. Dingwall, President and CEO of the Royal Canadian Mint. "As significant global players, Canadian mining companies will benefit directly through increased interest in precious metal investment products. Investors will also benefit, as this will provide another option to achieve a RRSP balanced portfolio." Including precious metals in a self directed RRSP will allow individuals to create a more diversified portfolio, potentially reducing overall investment risk. In the past, precious metals, in certificate or physical form, were not eligible for inclusion in RRSPs, however investors could hold units in individual shares, or investment pools that included bullion or precious metal certificates. Bullion and Refinery Services is one of four lines of business at the Royal Canadian Mint, a federal commercial Crown Corporation. Respected globally for its refining services, the Mint is the only producer of Canadian legal tender bullion coins in Canada. The gold maple leaf coin embodies the passion for purity that has made it the world's best selling "four nines" gold coin and is 99.99% pure. The Mint anticipates increased interest in its gold refined products and storage services as a result of the new regulations. About the Royal Canadian Mint: The Royal Canadian Mint is responsible for the minting and distribution of Canada's circulation coins. In operation since 1908, the Royal Canadian Mint is recognized as one of the largest and most versatile mints in the world, offering a wide range of specialized, high quality coinage products and related services on an international scale. -30- Information: Pam Aung Thin Vice President Communications Tel.: (613) 993-5092 Cellular: (613) 220-5096 E-mail: aungthin@mint.ca
