LIF.TO · 2024-03-12 12:00:00

Cash Dividend FOR the First Quarter of 2024 - $0.45 PER Common Share

Corporate Actions

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

LABRADOR IRON ORE ROYALTY CORPORATION

PRESS RELEASE

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 in terest in IOC directly and throug h 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