Labrador Iron Mines Holdings Ltd (LBRMF)

[bobbleheadtwin]

Toronto, Ontario, Canada, March 30, 2023. Labrador Iron Mines Holdings Limited (the
“Company” or “LIMH”) (OTC Pink: LBRMF) reports the result of the Special Meeting of Shareholders of Labrador Iron Mines Limited (“LIM”) held today.
At the Special Meeting, LIM Shareholders approved by the requisite two thirds majority a special resolution to authorize the Amalgamation of LIM with a wholly owned subsidiary of the Company, involving the issue of shares of the Company to LIM shareholders, such that LIM will, once again, be a wholly owned subsidiary of the Company. Details of the proposed Amalgamation are set out in the News Release of LIMH dated March 17, 2023, available on
the Company’s website. Pursuant to the special resolution, the board of directors of LIM is authorized, in its sole discretion, to determine whether to proceed with the Amalgamation, without further approval of LIM Shareholders.
The board of directors of LIM is now considering the timing for completion of the Amalgamation.