LABRADOR IRON ORE ROYALTY CORPORATION ANNOUNCES CHANGE IN CFO

TORONTO, Oct. 28, 2025 /CNW/ - Labrador Iron Ore Royalty Corporation (the "Corporation") (TSX: LIF) announced that Alan R. Thomas, its Chief Financial Officer, plans to step down effective October 31, 2025. Mr. Thomas was first appointed as a trustee of the Corporation's predecessor, the Labrador Iron Ore Royalty Income Fund, in 2004 and assumed the Chief Financial Officer role in 2007. Stephen D. Pearce (CPA), who has provided administration and financial services to the Corporation since 2000, has been appointed by the Board to succeed Mr. Thomas effective November 1, 2025.

"On behalf of the Board, I want to express our sincere appreciation to Alan for his leadership and professionalism," said John Tuer, President and Chief Executive Officer of LIF. "During his tenure, Alan has played a key role in maintaining the Corporation's strong financial position and in delivering consistent returns to shareholders. I also want to congratulate Stephen on his appointment as Chief Financial Officer. Stephen's long history of providing financial and administrative services to LIF will ensure a smooth transition."

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 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.

SOURCE Labrador Iron Ore Royalty Corporation