Labrador Iron Ore Royalty Corporation (TSX: LIF) - Iron Ore Company of Canada Reaches Agreement with Innu Communities

Labrador Iron Ore Royalty Corporation (TSX:

LIF) - Iron Ore Company of Canada Reaches

Agreement with Innu Communities

TORONTO

,

Dec. 4, 2020

/CNW/ - Labrador Iron Ore Royalty Corporation (the "Corporation")

announced today that it has been advised that the Innu communities of Uashat mak Mani-utenam

and Matimekush-Lac John signed a Reconciliation and Collaboration Agreement with the Iron Ore

Company of

Canada

("IOC").

The life of mine agreement lays the groundwork for a mutually beneficial relationship based on

dialogue, collaboration and trust between the company and the two communities over the coming

decades. Among other things, it will facilitate greater participation from the communities in IOC's

activities such as training and development, employment, collaboration on environmental projects,

procurement partnerships and will provide them with financial benefits.

The agreement also calls for an end to the legal action initiated by Uashat mak Mani- utenam and

Matimekush-Lac John against IOC, allowing IOC to continue its activities in Sept-Î les and

Labrador

City

and its economic contributions to Labrador West and the North Shore.

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/December2020/04/c4820.html

%SEDAR: 00030172E

For further information:

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

mail- [email protected]

CO: Labrador Iron Ore Royalty Corporation

CNW 09:09e 04-DEC-20