Item 2.02 Results of Operations and Financial Condition.

On July 17, 2009, Mesabi Trust issued a press release announcing that it will not distribute any royalty income for the three months ended July 31, 2009. A copy of the press release is being furnished as Exhibit 99.1 to this Form 8-K.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

99.1 Press release, dated July 17, 2009.

In accordance with general instruction B.2 to Form 8-K, the information in this Form 8-K shall not be deemed to be "filed" for purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that section.

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