LIF.TO · 2020-04-06 12:00:00

Labrador Iron Ore Royalty Corporation - Renewal of Mining Leases

Corporate Updates

Labrador Iron Ore Royalty Corporation -

Renewal of Mining Leases

TORONTO

April 6, 2020

/CNW/ - Labrador Iron Ore Royalty Corporation ("

LIORC

") (TSX: LIF)

announced today that the Ministry of Natural Resources of the Government of

Newfoundland

and

Labrador

has granted renewals of all 12 of LIORC's mining leases in accordance with their terms

for an additional 30 years.

The mining leases were initially granted in 1960, 1962, 1965 and 1971 and were for terms of 30

years with the right to renew the leases for two additional 30 year terms. All leases were renewed

for a third term and will now expire in 2050, 2052, 2055 and 2061. LIORC subleases the mining

leases to the Iron Ore Company of

Canada

IOC

"). IOC's mining operations are presently

conducted on lands governed by four of the 12 leases, which now have terms expiring in 2050 and

2052.

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/April2020/06/c7699.html

%SEDAR: 00030172E

For further information:

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

CO: Labrador Iron Ore Royalty Corporation

CNW 18:34e 06-APR-20