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Press release from Marketwire

Freehold Royalties Ltd. Declares Dividend for January 16, 2012

Monday, December 12, 2011

Freehold Royalties Ltd. Declares Dividend for January 16, 201213:24 EST Monday, December 12, 2011CALGARY, ALBERTA--(Marketwire - Dec. 12, 2011) - Freehold Royalties Ltd. (Freehold) (TSX:FRU) announces that its Board of Directors has declared a dividend of Cdn. $0.14 per common share to be paid on January 16, 2012 to shareholders of record on December 31, 2011. Including the January 16, 2012 payment, the twelve-month trailing cash dividends total Cdn. $1.68 per common share.These dividends are designated as "eligible dividends" for Canadian income tax purposes.Freehold's primary focus is on acquiring and managing oil and gas royalties. The majority of production comes from royalty assets (mineral title and gross overriding royalties). Freehold's common shares trade on the Toronto Stock Exchange in Canada under the symbol FRU.FOR FURTHER INFORMATION PLEASE CONTACT: Karen TaylorFreehold Royalties Ltd.Manager, Investor Relations and Corporate Secretary403.221.0891 or Toll Free 1.888.257.1873403.221.0888 (FAX)ktaylor@rife.comwww.freeholdroyalties.com