Labrador Iron Ore Royalty Income Fund - Fund to receive special dividend

April 5, 2006

TORONTO, April 5 /CNW/ - Labrador Iron Ore Royalty Income Fund announced
that Iron Ore Company of Canada today declared a dividend payable on May 31,
2006. The amount to be received by the Fund is U.S.$11.3 million or
approximately Cdn.$13.3 million, equating to Cdn.$0.42 per unit of the Fund.
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