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Press release from Marketwire

Noranda Income Fund Announces A Cash Distribution for the Month of July 2012 of $0.04167 Per Priority Unit

Friday, July 20, 2012

Noranda Income Fund Announces A Cash Distribution for the Month of July 2012 of $0.04167 Per Priority Unit08:00 EDT Friday, July 20, 2012SALABERRY-DE-VALLEYFIELD, QUEBEC--(Marketwire - July 20, 2012) - Noranda Income Fund (the "Fund") (TSX:NIF.UN) announced today that the Board of Trustees of Noranda Operating Trust ("the Board") has approved a distribution for the month of July 2012 of $0.04167 per priority unit (each, a "Priority Unit") payable on August 27, 2012 to Priority Unitholders of record as at the close of business on July 31, 2012. There is no assurance that monthly distributions will continue in the future, nor is there any assurance that, if they do continue, the level or frequency of such monthly distributions will not vary from the level of the most recent monthly cash distributions.Noranda Income Fundis an income trust whose units trade on the Toronto Stock Exchange under the symbol "NIF.UN". Noranda Income Fund was created to acquire Noranda Inc.'s CEZ processing facility and ancillary assets (the "CEZ processing facility") located in Salaberry-de-Valleyfield, Québec. The CEZ processing facility is the second-largest zinc processing facility in North America and the largest zinc processing facility in eastern North America, where the majority of zinc customers are located. It produces refined zinc metal and various by-products from zinc concentrates purchased from mining operations. The CEZ processing facility is operated and managed by Canadian Electrolytic Zinc Limited.Further information about Noranda Income Fund can be found at www.norandaincomefund.com.FOR FURTHER INFORMATION PLEASE CONTACT: Vice President & Chief Financial OfficerMichael BooneCanadian Electrolytic Zinc LimitedNoranda Income Fund's Manager416-775-1561info@norandaincomefund.com