Mr. John Tuer reports

CASH DIVIDEND FOR THE FIRST QUARTER OF 2024 - $0.45 PER COMMON SHARE

The directors of Labrador Iron Ore Royalty Corp. have declared a quarterly cash dividend of 45 cents per common share. The dividend is payable to holders of record at the close of business on March 28, 2024, and is to be paid on April 26, 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 on all iron ore products produced, sold and shipped by IOC, and a 10-cent-per-tonne commission on all iron ore products produced and sold by IOC.