Labrador City ordered evacuated as wildfire approaches

LABRADOR IRON ORE ROYALTY CORPORATION

P R E S S R E L E A S E

Labrador City ordered evacuated as wildfire approaches

Toronto, July 13, 2024

Iron Ore Company of Canada is initiating a safe and coordinated temporary shut down of its operations in response to the Provincial Government's evacuation order for Labrador City. The order stems from extreme fire behaviour that has occurred yesterday and is expected to continue into today. The fire has the potential to grow significantly closer to Labrador West over the next 24 to 48 hours.

About Labrador Iron Ore Royalty Corporation

Labrador Iron Ore Royalty 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 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.

For further information, please contact:

John F. Tuer President & Chief Executive Officer (416) 362-0066 E-mail- [email protected]

PO Box 957, 31 Adelaide St. E, Toronto, Ontario M5C 2K3 Tel : (416) 362-0066