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, 2024

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

the election of directors at its annual and special 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 8, 2024 were elected as directors 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 24,489,774 72.47% 9,304,398 27.53%

Douglas F. McCutcheon 33,476,269 99.06% 317,903 0.94%

Dorothea E. Mell 33,481,535 99.07% 312,637 0.93%

William H. McNeil 30,729,278 90.93% 3,064,894 9.07%

Sandra L. Rosch 32,083,243 94.94% 1,710,930 5.06%

John F. Tuer 33,352,457 98.69% 441,716 1.31%

Patricia M. Volker 30,906,086 91.45% 2,888,086 8.55%

Final results on all matters voted at the annual and special 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 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

E-mail- [email protected]