Iron

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 September.  LIORC's portion of the IOC dividend is U.S. $25.7 million, or about CDN. $33.6 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 third quarter dividend later in September based on the total amount of cash expected to be received in the quarter, including the IOC dividend.

About Labrador Iron Ore Royalty Corporation

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

SOURCE Labrador Iron Ore Royalty Corporation

Cision View original content: http://www.newswire.ca/en/releases/archive/September2022/02/c9107.html

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LIF:CA,LIFZF

LABRADOR IRON ORE ROYALTY CORPORATION - CASH DIVIDEND FOR THE THIRD QUARTER OF 2022 - $1.00 PER COMMON SHARE

The Directors of Labrador Iron Ore Royalty Corporation (the "Corporation") (TSX: LIF) declared today a quarterly cash dividend of $1.00 per Common Share. The dividend is payable to holders of record at the close of business on September 29, 2022 and is to be paid on October 26, 2022 .

About Labrador Iron Ore Royalty Corporation

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Labrador Iron Ore Royalty Corporation ("LIORC"), (TSX: LIF) announced today its operation and cash flow results for the second quarter ended June 30, 2022 .

Financial Performance

In the second quarter of 2022, LIORC's financial results were negatively affected by lower iron ore prices, partially offset by higher pellet premiums and higher volumes of pellets and concentrate for sale ("CFS") sales. Royalty revenue for the second quarter of 2022 amounted to $65.9 million compared to $78.8 million for the second quarter of 2021. Equity earnings from Iron Ore Company of Canada ("IOC") were $47.2 million in the second quarter of 2022 compared to $66.2 million in the second quarter of 2021. Net income per share for the second quarter of 2022 was $1.23 per share, which was a 29% decrease over the same period in 2021. The adjusted cash flow per share for the second quarter of 2022 was $0.88 per share, which was 52% lower than in the same period in 2021, as a result of lower royalty revenues and because LIORC received a dividend from IOC in the amount of $19.6 million from IOC in the second quarter of 2022, compared to a dividend from IOC in the amount of $74.4 million in the second quarter of 2021.

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