Labrador Iron Mines Holdings Ltd (LBRMF)

[bobbleheadtwin]

Although an off-take agreement with a partner has yet to be finalized, the PEA economic model assumes a buyer would participate as to 50% of the price appreciation above US$90/dmt (CFR China 62% Fe sinter fines basis), as an
incentive to agree to the point-of-sale being FOB Houston rail siding. The Company notes that if the point of sale were alternatively FOB Port of Sept-Iles, such a price participation arrangement with a buyer would not be anticipated.