Noranda Income Fund reduces 2007 production and sales forecast

VALLEYFIELD, QC, June 18, 2007 - The Noranda Income Fund (TSX: NIF.UN) announced today its 2007 production and sales forecast has been revised to 265,000 tonnes and 272,000 tonnes respectively. For the second quarter, production is expected to be 63,000. Production in 2007 has been negatively impacted by process difficulties in the hydrometallurgical section of the plant. Further details will be given in the second quarter results.

This change is not expected to impact the 2007 monthly distributions.

Noranda Income Fund is an income trust whose units trade on the Toronto Stock Exchange under the symbol "NIF.UN". The Noranda Income Fund owns the CEZinc processing facility and ancillary assets (the "CEZinc processing facility") located in Salaberry-de-Valleyfield, Qu'ebec. The CEZinc 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 its customers are located. It produces refined zinc metal and various by-products from zinc concentrates purchased from mining operations. The Processing Facility is operated and managed by Canadian Electrolytic Zinc Limited, a wholly-owned subsidiary of Falconbridge Limited.

Further information about the Noranda Income Fund can be found at www.norandaincomefund.com.

For further information:

Financial information:
Michael Boone
Vice President & Chief Financial Officer of Canadian Electrolytic Zinc Limited,
Noranda Income Fund's Manager
Tel: (416) 775-1561
request@norandaincomefund.com

Renmark Financial Communications Inc.
Christine Stewart : cstewart@renmarkfinancial.com
Christopher Wells : cwells@renmarkfinancial.com
Tel. : (514) 939-3989
Fax : (514) 939-3717
www.renmarkfinancial.com