Cash Distribution for the Second Quarter of 2008 - $1.00 per Trust Unit

    TORONTO, June 18 /CNW/ - 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

    %SEDAR: 00002722E

For further information:

For further information: Bruce C. Bone, Chairman & Chief Executive
Officer, (416) 863-7133

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