LIF.TO · 2022-05-27 12:00:00

Iron ORE Company of Canada Dividend

Corporate Actions

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

LABRADOR IRON ORE ROYALTY CORPORATION

PRESS RELEASE

IRON ORE COMPANY OF CANADA DIVIDEND

Toronto, May 27, 2022

Labrador Iron Ore Royalty Corporation ( “LIORC”) announced that Iron Ore Company of Canada

(“IOC”), in which LIORC holds a 15.1% equity interest, has declared a dividend to be paid in June.

LIORC’s portion of the IOC dividend is U.S. $15.1 million, or about CDN. $19.2 million. For further

clarity, this announcement refers to the declaration of an IOC dividend to be received by LIORC and

is NOT the declaration by LIORC of a dividend to be paid to LIORC shareholders. LIORC typically

declares a s econd quarter dividend in June based on the total amount of cash expected to be

received in the quarter, including the IOC dividend.

For further information, please contact:

John F. Tuer

President & Chief Executive Officer

(416) 362-0066