Great Northern Iron Ore Properties : First Quarter

GREAT NORTHERN lRON ORE PROPERTIES

TRUSTEES:

JOSEPH S.MICALLEF

PRESIOENT

CHIEF ExrcU'Illlf 0FFICE" ROOER W. STAEHLE ROBERT A. STEIN JAMES E. SWEARINOEN

0FFJCE OF THE TR USTEES

W-1290 FLRST NATIONAL BANK BU ILDING

332 MINNESOTA STREET

SAINT PAUL, MINNESOTA 55101-1361

[phone]

FAX [phone] www.gniop.com

GNI
(CUSIP NO. 391064102)

FACSIMILE TRANSMISSION FACE SHEET:

THOMAS A. JANOCHOSKI

VtCE PAESIOENT ANO SECAE'TA'W CHIEF FtHANCIAL OFFtCE..

ROGER P. JOHNSON

MANAGER OF MINES

KENNETH A. BAEHR

MANAGER OF ACCOUNTliNQ

Date: March 8, 2013

Number ofPages (including this face sheet): l

Message:

DISTRIBUTION DECLARED

The Trustees of Great Northem Iron Ore Properties, at their meeting held on March 8, 2013, declared a first quarter 2013 distribution amounting to $2.25 per share payable on Aprii 30, 2013, to certificate holders of record on March 28, 2013. The first, second, third and fourth quarter 2012 distributions amounted to $2.25, $3.00, $3.50 and $5.25 per share, respectively.
Barring any unexpected production cutbacks from our lessees' mining plans in 2013, and subject to the econom y's continued recovery and the impact of the producer price indices on our royalty rates, we stili think 2013 will be another good year for the Trust, though it is not anticipated to reach the historical record eamings of the last two years.

GNI, St. Paul, Minnesota, owns minerai and nonmineral lands on the Mesabi Iron Range of Minnesota. Income is mainly derived from royalties on iron ore minerals (principally taconite) mined from these properties which are under lease to major steel producers. As previously reported, the Trust of Great Northem Iron Ore Properties wili terminate on Aprii 6, 2015, pursuant to the terms of its originai 1906

Trust Agreement. The certificate holders (shareholders) at the end of the Trust will receive a fina!
distribution after its wind-down and final accounting, which distribution will essentially represent the net monies remaining at that time. Upon Trust terrnination, the shares will be cancelled, ali properties will be conveyed to the reversioner and, thereafter, the final distribution to the certificate holders will occur. More information on the termination of the Trust is available on the Trust's Web site at www.gniop.com or within the Trust's Annua) Report, which is also available on the Trust 's Web site or may be requested by calling the Trust office at the telephone number listed above.

/siJoseph S. Micalle(

Joseph S. Micallef, President and ChiefExecutive Officer