Cash Dividend for the First Quarter of 2024 - $0.45 per Common Share

LABRADOR IRON ORE ROYALTY CORPORATION

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

CASH DIVIDEND FOR THE FIRST QUARTER OF 2024 - $0.45 PER COMMON SHARE

Toronto, March 12, 2024

The Directors of Labrador Iron Ore Royalty Corporation (the "Corporation") (TSX:LIF) declared today a quarterly cash dividend of $0.45 per Common Share. The dividend is payable to holders of record at the close of business on March 28, 2024 and is to be paid on April 26, 2024.

About Labrador Iron Ore Royalty Corporation

The Corporation holds a 15.10% equity interest in IOC directly and through its wholly-owned subsidiary, Hollinger-Hanna Limited, and receives a 7% gross overriding royalty on all iron ore products produced, sold and shipped by IOC and a 10 cent per tonne commission on all iron ore products produced and sold by IOC.

For further information, please contact:

John F. Tuer President & Chief Executive Officer (416) 362-0066 E-mail- [email protected]

PO Box 957, 31 Adelaide St. E, Toronto, Ontario M5C 2K3 Tel : (416) 362-0066