Labrador Iron Ore Royalty Corporation Announces Results of Election of Directors

Labrador Iron Ore Royalty Corporation Announces Results of Election of Directors

Toronto, May 16, 2023

Labrador Iron Ore Royalty Corporation (the “Corporation”) (TSX: LIF) announced the results of

the election of directors at its annual meeting of holders of common shares held today by way of

a hybrid meeting conducted virtually and in person.

The following nominee directors listed in the Corporation’s management information circular dated

April 10, 2023 were elected as dir ectors of the Corporation. The vote was conducted by ballot

online and in person . The number of common shares voted for or against the election of each

director was as indicated below:

Votes For Votes Against

Number Percent Number Percent

Mark J. Fuller 23,044,140 93.37% 1,636,860 6.63%

Douglas F. McCutcheon 23,547,618 95.41% 1,133,382 4.59%

Dorothea E. Mell 23,544,310 95.39% 1,136,690 4.61%

William H. McNeil 18,647,305 75.55% 6,033,695 24.45%

Sandra L. Rosch 22,750,680 92.18% 1,930,320 7.82%

John F. Tuer 23,783,894 96.37% 897,106 3.63%

Patricia M. Volker 20,433,832 82.79% 4,247,168 17.21%

Final results on all matters voted at the annual meeting will be filed shortly with the Canadian

securities regulators.

About Labrador Iron Ore Royalty Corporation

The Corporation holds a 15.10% equity interest in Iron Ore Company of Canada (“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.

For further information, please contact:

John F. Tuer

President & Chief Executive Officer

(416) 362-0066

E-mail- [email protected]