Compensation and Nominating Co mmittees immediately following th e Annual Meeting on

LABRADOR IRON ORE ROYALTY CORPORATION

P R E S S R E L E A S E

COMMITTEE CHANGE

TORONTO, May 9, 2016

On February 24, 2016, the Board of Directors of Labrador Iron Ore Royalty Corporation designated William H. McNeil as the successor to Bruce C. Bone as President and CEO with effect on September 1, 2016. Mr. McNeil was intending to step down as a member of the Audit, Compensation and Nominating Committees immediately following the Annual Meeting on May 27, 2016. However, a question has come up as to whether it is appropriate for him to continue as a member of the Committees in the interim. Accordingly, Mr. McNeil resigned from the three Committees on May 7, 2016.

For further information, please contact:

William J. Corcoran Chairman of the Board (416) 863-7133 E-mail- [email protected]

26th Floor, 40 King Street West, Toronto, Ontario M5W 2X6 Tel : (416) 863-7133 Fax : (416) 863-7425