Mr. John Tuer reports

LABRADOR IRON ORE ROYALTY CORPORATION - CASH DIVIDEND FOR THE SECOND QUARTER OF 2023 - $0.65 PER COMMON SHARE

The directors of Labrador Iron Ore Royalty Corp. declared today a quarterly cash dividend of 65 cents per common share. The dividend is payable to holders of record at the close of business on June 30, 2023, and is to be paid on July 26, 2023.

About Labrador Iron Ore Royalty Corp.

The corporation holds a 15.10-per-cent equity interest in IOC directly and through its wholl 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.