Labrador Iron ORE Royalty Corporation (Tsx:lif) – RIO Tinto Releases Ioc Production and Sales Information
PO Box 957, STN Adelaide, Toronto, Ontario M5C 2K3 Tel : (416) 362-0066
P R E S S R E L E A S E
LABRADOR IRON ORE ROYALTY CORPORATION (TSX:LIF) – RIO TINTO RELEASES IOC
PRODUCTION AND SALES INFORMATION
Toronto, April 20, 2022
Rio Tinto re leased its quarterly operational report for the first quarter ending March 31, 2022, which
included Iron Ore Company of Canada (IOC) production and sales information. Specifically, Rio Tinto
announced that in the first quarter of 2022, IOC had total saleab le iron ore production of 4.09 million
tonnes, comprised of 2.46 million tonnes of pellets and 1.64 million tonnes of concentrate for sale (CFS). Rio
Tinto also announced that IOC had total iron ore sales in the first quarter of 2022 of 3.43 million tonne s,
comprised of 2.41 million tonnes of pellets and 1.02 million tonnes of CFS. Comparisons to prior quarters
and Rio Tinto's commentary on the changes can be found in Rio Tinto's quarterly operational report which is
posted on its website. Please note that the IOC sales tonnages are calculated slightly differently for the
LIORC Royalty. Rio Tinto also announced that IOC 2022 production guidance (pellets and CFS) of 17.0 to 18.7
million tonnes remains unchanged.
LIORC will be releasing its first quarter 2022 results of operations after the market close on May 5, 2022.
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.
For further information, please contact:
John F. Tuer
President & Chief Executive Officer
(416) 362-0066
E-mail- [email protected]
Forward-Looking Statements
This press release may contain "forward-looking" statements that involve risks, uncertainties and other factors that may
cause the actual results, performance or achievements to be materially different from any future results, performance or
achievements expressed or implied by such forward -looking st atements. Words such as "may", "will", "expect",
"believe", "plan", "intend", "should", "would", "anticipate" and other similar terminology are intended to identify
forward-looking statements. These statements reflect current assumptions and expectations regarding future events and
operating performance as of the date of this press release. Forward -looking statements involve significant risks and
uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate
indications of whether or not such results will be achieved. A number of factors could cause actual results to vary
significantly, including iron ore price and volume volatility, exchange rates, the performance of IOC, market conditions in
the steel industry, mining risks and insurance, relationships with indigenous groups, natural disasters, severe weather
conditions and public health crises, changes affecting IOC's customers, competitio n from other iron ore producers,
estimates of reserves and reso urces, government regulation and taxation and cybersecurity. A discussion of these
factors is contained in LIORC's annual information form dated March 11, 2022 under the heading, "Risk Factors ".
Although the forward-looking statements contained in this press release are based upon what management of LIORC
believes are reasonable assumptions, LIORC cannot assure investors that actual results will be consistent with these
PO Box 957, STN Adelaide, Toronto, Ontario M5C 2K3 Tel : (416) 362-0066
forward-looking statements. These forward-looking statements are made as of the date of this press release and LIORC
assumes no obligation, except as required by law, to update any forward-looking statements to reflect new events or
circumstances. This press release should be viewed in conjunction with LIORC's other publicly available filings, copies of
which can be obtained electronically on SEDAR at www.sedar.com.