Labrador Iron Ore Royalty Corporation (TSX:LIF) - IOC Fire at Reclaimer no. 2

April 3, 2021

Canada NewsWire

TORONTO , April 3, 2021 /CNW/ - Labrador Iron Ore Royalty Corporation (the "Corporation") announced today that it has been advised by Iron Ore Company of Canada ("IOC") that on March 31, 2021 , there was a fire at reclaimer no. 2 at IOC's Sept-Îles port facilities. The fire was brought under control and there were no injuries. The cause of the fire remains unknown at this time, and an investigation process is ongoing and IOC is still assessing the impact on its operation. IOC has declared force majeure on its contracts and is working with customers to minimize disruption.

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

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