Cash Distribution for the First Quarter of 2007 - $0.35 per Trust Unit

March 13, 2007

TORONTO, March 13 /CNW/ - The Trustees of The Labrador Iron Ore Royalty Income Fund declared today a cash distribution for the first quarter of 2007 of $0.35 per Trust Unit payable to holders of record at the close of business on March 30, 2007 and to be paid on April 25, 2007.

For tax purposes, the income from the cash distribution of $0.35 per Trust Unit will be considered to be:

-   Interest income of $0.25
-   Dividend income of $0.10

%SEDAR: 00002722E


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