IRON ORE COMPANY OF CANADA DIVIDEND

TORONTO, May 27, 2022 /CNW/ - Labrador Iron Ore Royalty Corporation ("LIORC") announced that Iron Ore Company of Canada ("IOC"), in which LIORC holds a 15.1% equity interest, has declared a dividend to be paid in June.  LIORC's portion of the IOC dividend is U.S. $15.1 million, or about CDN. $19.2 million. For further clarity, this announcement refers to the declaration of an IOC dividend to be received by LIORC and is NOT the declaration by LIORC of a dividend to be paid to LIORC shareholders.  LIORC 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.

SOURCE Labrador Iron Ore Royalty Corporation

John F. Tuer, President & Chief Executive Officer, [phone], E-mail- [email protected]