CASH DISTRIBUTION FOR THE FIRST QUARTER OF 2009 - $0.50 PER TRUST UNIT

Toronto, February 27, 2009
The Trustees of The Labrador Iron Ore Royalty Income Fund declared today a cash distribution for the first quarter of 2009 of $0.50 per Trust Unit payable to holders of record at the close of business on March 31, 2009 and to be paid on April 24, 2009.

For tax purposes, the income from the cash distribution of $0.50 per Trust Unit will be considered to be:

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

For further information, please contact:

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