Cash Dividend FOR the Third Quarter of 2022 - $1.00 PER Common Share

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

LABRADOR IRON ORE ROYALTY CORPORATION

PRESS RELEASE

CASH DIVIDEND FOR THE THIRD QUARTER OF 2022 - $1.00 PER COMMON SHARE

Toronto, September 15, 2022

The Directors of Labrador Iron Ore Royalty Corporation (the "Corporation") (TSX:LIF) declared today

a quarterly cash dividend of $1.00 per Common Share. The dividend is payable to holders of record

at the close of business on September 29, 2022 and is to be paid on October 26, 2022.

About Labrador Iron Ore Royalty Corporation

The Corporation holds a 15.1 0% equity interest in IO C dir ectly a nd 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]