Mr. John Tuer reports

LABRADOR IRON ORE ROYALTY CORPORATION - IRON ORE COMPANY OF CANADA DIVIDEND

Iron Ore Company of Canada (IOC), in which Labrador Iron Ore Royalty Corp. holds a 15.1-per-cent equity interest, has declared a dividend to be paid in June. Labrador Iron Ore's portion of the IOC dividend is $15.1-million (U.S.), or about $20.6-million (Canadian). For further clarity, this announcement refers to the declaration of an IOC dividend to be received by Labrador Iron Ore and is not the declaration by Labrador Iron Ore of a dividend to be paid to Labrador Iron Ore shareholders. Labrador Iron Ore typically declares a second quarter dividend in June based on the total amount of cash expected to be received in the quarter, including the IOC dividend.

About Labrador Iron Ore Royalty Corp.

The corporation holds a 15.10-per-cent equity interest in IOC directly and through its wholly owned subsidiary, Hollinger-Hanna Ltd., and receives a 7-per-cent gross overriding royalty and a 10-cent-per-tonne commission on all iron ore products produced, sold and shipped by IOC.