CALGARY, ALBERTA--(Marketwire - Jan. 18, 2011) - Freehold Royalties Ltd. (Freehold) (TSX:FRU) announces that the Board of Directors has declared a dividend for January 2011 of Cdn $0.14 per common share to be paid on February 15, 2011 to shareholders of record on January 31, 2011 (ex-dividend date January 27, 2011). Including the February 15, 2011 payment, the twelve-month trailing cash dividends total Cdn $1.68 per share (including the distributions paid on trust units of Freehold Royalty Trust prior to its conversion).

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

Forward-Looking Statements – Certain information set forth in this document contains forward-looking statements. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Freehold's control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, taxation, regulation, stock market volatility and ability to access sufficient capital from internal and external sources. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Freehold's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements. No assurance can be given that any of the events anticipated will transpire or occur.

Contact Information: Freehold Royalties Ltd.
Karen Taylor
Manager, Investor Relations and Corporate Secretary
403.221.0891 or Toll-free: 1-888-257-1873
403.221.0888 (FAX)