Labrador Iron Mines Holdings Ltd (LBRMF)

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Kearney :The related parties with which the Company transacted during the nine months ended December 31, 2022 were
Energold Minerals Inc. (“Energold”), a corporation controlled by John F. Kearney, and Buchans Resources Limited
(“Buchans”), a company in which John F. Kearney and Danesh Varma, directors and/or officers of the Company,
serve as directors and/or officers.
During the nine months ended December 31, 2022, the Company incurred costs payable to Energold in the amount of
$22,500 (2021 - $22,500) for administrative services. At December 31, 2022, $117,500 (March 31, 2022 - $95,000)
remained payable to Energold for such services.
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During the nine months ended December 31, 2022, the Company had an office sharing arrangement with Buchans
pursuant to which the Company incurred office sharing costs of $33,750 (2021 - $18,000). At December 31, 2022,
$18,750 (March 31, 2022 - $Nil) of office sharing costs was payable to Buchans.
The amounts payable by the Company to related parties are unsecured and non-interest bearing.
During the nine months ended December 31, 2022, John F. Kearney, a director, advanced $100,000 to the Company
on a non-interest bearing basis with no fixed repayment terms for working capital purposes.