Clayton Walker , the President and Chief Executive Officer of Iron Ore Company of Canada (IOC), has announced that he has accepted a role in the Rio Tinto Copper product group as the Chief Operating Officer, Copper, based in

Labrador Iron Ore Royalty Corporation

(TSX:LIF) - IOC Management Changes

TORONTO

,

March 19, 2021

/CNW/ -

Clayton Walker

, the President and Chief Executive Officer of

Iron Ore Company of

Canada

(IOC), has announced that he has accepted a role in the Rio Tinto

Copper product group as the Chief Operating Officer, Copper, based in

Salt Lake City

. As a result,

Clayton will be stepping down as IOC's President and CEO effective

April 16

. A search for his

replacement is underway, and in the interim,

Donald Tremblay

, the Chief Financial Officer of IOC,

will be acting CEO. Clayton will stay on as Chairman of the board of directors of IOC until a

replacement is identified to ensure continuity and a smooth transition.

The management and directors of Labrador Iron Ore Royalty Corporation would like to thank

Clayton for his dedicated and effective leadership of IOC and wish him continued success in his new

role within Rio Tinto. During his tenure as CEO, IOC made significant operational and partnership

advancements that positions IOC as a premier producer of high quality iron ore products.

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.

SOURCE

Labrador Iron Ore Royalty Corporation

View original content:

http://www.newswire.ca/en/releases/archive/March2021/19/c3017.html

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For further information:

John F. Tuer, President & Chief Executive Officer, (416) 362-0066, E-

mail- [email protected]

CO: Labrador Iron Ore Royalty Corporation

CNW 15:56e 19-MAR-21