Cash Dividend for the Second Quarter of 2023 - $0.65 per Common Share

LABRADOR IRON ORE ROYALTY CORPORATION

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

CASH DIVIDEND FOR THE SECOND QUARTER OF 2023 - $0.65 PER COMMON SHARE

Toronto, June 14, 2023

The Directors of Labrador Iron Ore Royalty Corporation (the "Corporation") (TSX:LIF) declared today a quarterly cash dividend of $0.65 per Common Share. The dividend is payable to holders of record at the close of business on June 30, 2023 and is to be paid on July 26, 2023.

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 and a 10 cent per tonne commission on all iron ore products produced, sold and shipped by IOC.

For further information, please contact:

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

PO Box 957, STN Adelaide, Toronto, Ontario M5C 2K3 Tel : (416) 362-0066