Mr. John Tuer reports

LABRADOR IRON ORE ROYALTY CORPORATION (TSX: LIF) - RIO TINTO RELEASES IOC PRODUCTION AND SALES INFORMATION

Rio Tinto has released its quarterly operational report for the fourth quarter ended Dec. 31, 2023, which included Labrador Iron Ore Royalty Corp.'s Iron Ore Company of Canada (IOC) production and sales information. Specifically, Rio Tinto announced that in the fourth quarter of 2023, IOC had total saleable iron ore production of 4.60 million tonnes, comprising 2.39 million tonnes of pellets and 2.21 million tonnes of concentrate for sale (CFS). Rio Tinto also announced that IOC had total iron ore sales in the fourth quarter of 2023 of 4.37 million tonnes, comprising 2.33 million tonnes of pellets and 2.04 million tonnes of CFS. Comparisons with 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 Labrador Iron Ore's royalty. Rio Tinto also released IOC's 2024 production guidance (pellets and CFS) of 16.7 million to 19.6 million tonnes.

Labrador Iron Ore will be releasing its full 2023 annual report after the market close on March 12, 2024.

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.

We seek Safe Harbor.