Freehold Royalties Ltd. Declares Dividend for May 16, 2011

CALGARY, ALBERTA--(Marketwire - April 15, 2011) - Freehold Royalties Ltd. (Freehold) (TSX:FRU) announces that its Board of Directors has declared a dividend for April 2011 of Cdn. $0.14 per common share to be paid on May 16, 2011 to shareholders of record on April 30, 2011 (ex-dividend date April 27, 2011). Including the May 16, 2011 payment, the twelve-month trailing cash dividends total Cdn. $1.68 per common share (including distributions paid on trust units of Freehold Royalty Trust prior to its conversion).

These dividends are designated as "eligible dividends" for Canadian income tax purposes.

Freehold also announces that it has amended its dividend reinvestment plan (DRIP) to allow for the issuance of shares from treasury at a 5% discount to market commencing with the dividend to be paid on May 16, 2011. The amended DRIP document is available on Freehold's website www.freeholdroyalties.com.

Freehold's primary focus is on acquiring and managing oil and gas royalties. The majority of Freehold's production comes from royalty assets (mineral title and gross overriding royalties). The Company's common shares trade on the Toronto Stock Exchange in Canada under the symbol FRU.