Labrador Iron Ore Royalty Income Fund - Cash Distribution For the First Quarter of 2006 - $0.35 per Trust Unit

March 7, 2006

TORONTO, March 7 /CNW/ - The Trustees of The Labrador Iron Ore Royalty
Income Fund declared today a cash distribution for the first quarter of 2006
of $0.35 per Trust Unit payable to holders of record at the close of business
on March 31, 2006 and to be paid on April 25, 2006.
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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