Houston Flagship Deposit Development Plan

Product Mix & Specifications Run-of-mine ore: Size fraction -6" (150 mm) Lump: - Product Mix Element Content % Element Current <40% Size fraction -32 mm, +6 mm Content % Product Mix Current -10% Fe 62-64% Fe 61-63% SiO2 5-7% Future n/a SiO2 5-8% Future -10% Sinter Fines: Size fraction -6 mm Ultra Fines: Size fraction -2 mm Product Mix Product Mix Element Fe Content % 63-65% Element Content % Current ~40% Current n/a Fe 62-66% SiO2 4 - 6% Future -80% SiO2 5-8% Future -10% ■ Moisture content typically 6% to 7% Typically low phosphorus (P) and alumina (Al2O3) Labrador Iron Mines – TSX: LIM LIM 41

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