CALGARY, ALBERTA--(Marketwire - Feb. 16, 2011) - Freehold Royalties Ltd. (TSX:FRU) (Freehold) announces that the Board of Directors has declared a dividend for February 2011 of Cdn $0.14 per common share to be paid on March 15, 2011 to shareholders of record on February 28, 2011 (ex-dividend date February 24, 2011). Including the March 15, 2011 payment, the twelve-month trailing cash dividends total Cdn $1.68 per common 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.

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)