CASH DISTRIBUTION FOR THE FIRST QUARTER OF 2008 - $0.35 PER TRUST UNIT

Toronto, March 3, 2008

The Trustees of The Labrador Iron Ore Royalty Income Fund declared today a regular quarterly cash distribution of $0.35 per Trust Unit payable to holders of record at the close of business on March 31, 2008 and to be paid on April 25, 2008.

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