LIF.TO · 2024-07-23 12:00:00

IOC Restarting Operations in Labrador City

Mine Development & Operations

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

LABRADOR IRON ORE ROYALTY CORPORATION

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

Toronto, July 23, 2024

On July 12, 2024 more than 7,000 residents of Labrador City (including more than 2,000 Iron Ore

Company of Canada (“IOC”) employees) were ordered by provincial authorities to evacuate the

town due to the threat of nearby forest fires. That evacuation order was officially lifted on Monday

July 22, 2024, and IOC has begun the process of restarting iron ore operations in Labrador City. In

addition, IOC has announced that it has donated CAN$125,000 to the Canadian Red Cross to

support relief efforts in connection with the recent wildfires in the Labrador West region and has

committed an additional CAN$75,000 to support community organizations assisting with the

recovery phase.

About Labrador Iron Ore Royalty Corporation

Labrador Iron Ore Royalty 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