Labrador Iron Mines Holdings Ltd (LIM)

[NYBob]

LABRADOR IRON ORE ROYALTY CORPORATION CLARIFIES TIMING OF TWO-FOR-ONE SUBDIVISION OF STAPLED UNITS APPROVED BY UNITHOLDERS
ON MAY 30, 2011

http://www.cnxmarketlink.com/en/releases/archive/June2011/14/c5912.html

TORONTO, June 14, 2011 /CNW/ - Labrador Iron Ore Royalty Corporation
(TSX: LIF.UN) ("LIORC") announced today that it has filed articles of
amendment and entered into an amendment to the note deposit agreement to
subdivide its stapled units on a two-for-one basis with effect on July 1,
2011. The new certificates will be mailed to registered holders of stapled
units on July 4, 2011. The stapled units will commence trading on the Toronto
Stock Exchange on a subdivided basis at the opening of business on June 28,
2011 (and not on June 29, 2011 as previously announced on May 30, 2011) as the
July 1, 2011 record date for the subdivision is a statutory holiday. LIORC
also confirmed that the cash distribution of $0.75 per stapled unit announced
on May 30, 2011 payable to holders of record at the close of business on June
30, 2011 and to be paid to such holders on July 25, 2011 is payable on a
pre-subdivision basis. As such, the $0.75 distribution will represent $0.375
per outstanding stapled unit on the date of payment. About LIORC LIORC is a
Canada corporation resulting from the conversion of Labrador Iron Ore Royalty
Income Fund (the "Fund") under an Arrangement effective July 1, 2010. It holds
a 15.10% equity interest in Iron Ore Company of Canada ("IOC") directly and
through its wholly-owned subsidiary, Hollinger-Hanna Limited, and receives a
7% gross overriding royalty and a 10 cent per tonne commission on all iron ore
products produced, sold and shipped by IOC.



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-30-

/For further information:
Bruce C. Bone President & Chief Executive Officer [phone]
/

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