CASH DISTRIBUTION FOR THE SECOND QUARTER OF 2008 - $1.00 PER TRUST UNIT

Toronto, June 18, 2008

The Trustees of The Labrador Iron Ore Royalty Income Fund declared today a regular quarterly cash distribution of $0.50 per Trust Unit and an extra distribution of $0.50 per Trust Unit payable to holders of record at the close of business on June 30, 2008 and to be paid on July 25, 2008.

For tax purposes, the income from the cash distribution of $1.00 per Trust Unit will be considered to be:

• Interest income of $0.25
• Dividend income of $0.75

For further information, please contact:

Bruce C. Bone
Chairman and Chief Executive Officer
(416) 863-7133