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Mesabi Trust Press Release New York, New York

The following excerpt is from the company's SEC filing.

April 15, 2016

The Trustees of Mesabi Trust (NYSE: MSB) declared a distribution of twenty cents ($0.20) per Unit of Beneficial Interest payable on May 20, 2016 to Mesabi Trust Unitholders of record at the close of business on April 30, 2016. This compares to no distribution for the same period last year.

The twenty cents ($0.20) per Unit increase in the current distribution, as compared to the same quarter last year, is primarily attributable to the Mesabi Trustees determination that the Mesabi Trust has sufficient cash available to make such a distribution in light of the Trusts receipt of total roy alty payments of $2,423,257 on January 29, 2016, which was payment for shipments of iron ore products by Northshore during the three months ended December 31, 2015, and the March 14, 2016 announcement by Cliffs Natural Resources Inc. that it will be restarting iron ore pellet production at its Northshore mining operations in Minnesota by May 15, 2016. At the...


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