LABRADOR IRON MINES

November 2017Corporate Presentation

Labrador Iron Mines Holdings Limited (“LIM” or the “Company”) has prepared this presentation for informationpurposes only. The information contained herein was prepared by management on a best efforts basis and isbelieved to be accurate. It contains forward-looking statements about the Company's plans for the mining,development and exploration of its properties.

Forward-looking information may include reserve and resource estimates, estimates of future production, unit costs,costs of capital projects and timing of commencement of operations, and is based on current expectations thatinvolve a number of business risks and uncertainties. Factors that could cause actual results to differ materially fromany forward-looking statement include, but are not limited to, failure to establish estimated resources and reservesthe grade and recovery of ore which is mined varying from estimates, capital and operating costs varyingsignificantly from estimates, delays in obtaining or failures to obtain required governmental, environmental or otherproject approvals, delays in the development of projects, changes in exchange rates, fluctuations in commodityprices, inflation and other factors.

Forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results todiffer materially from expected results. There can be no assurance that the Company will be successful in anyagreement with any First Nations groups who may assert aboriginal rights or may have a claim which affects theCompany’s properties or may be impacted by the Schefferville Projects.

Shareholders and prospective investors should be aware that these statements are subject to known and unknownrisks uncertainties and other factors that could cause actual results to differ materially from those suggested by theforward-looking statements. Shareholders are cautioned not to place undue reliance on forward-looking information.By its nature, forward-looking information involves numerous assumptions, inherent risks and uncertainties, bothgeneral and specific, that contribute to the possibility that the predictions, forecasts, projections and various futureevents will not occur. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking information whether as a result of new information, future events or other such factors which affect thisinformation, except as required by law.

Labrador Iron Mines 2

Forward Looking Information

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Labrador Iron Mines Holdings Limited

Schefferville Mines Inc.

Labrador Iron Mines Limited

51%Other Shareholders

49%

100%

100%

2% RoyaltyHouston Iron

Royalties Limited

Labrador Iron Mines 4

Successful Completion of

Financial Restructuring

On December 19, 2016 Labrador Iron Mines Holdings Limited (“LIMH”), LabradorIron Mines Limited (“LIM”) and Schefferville Mines Inc (“SMI”) implemented a Plan ofCompromise and Arrangement (the “Plan”) under the Companies’ CreditorsArrangement Act (“CCAA”), which was sanctioned by the Ontario Superior Court ofJustice on December 14, 2016.

Following implementation of the Plan, LIMH owns 51% of the shares of LIM whichowns 100% of the shares of SMI. LIM and SMI hold all of the Schefferville iron oreproperties and assets. Former creditors of LIM and SMI hold the other 49% of LIM.

The Plan implements a restructuring of LIM’s business to preserve its mining assets,continue its mine site activities in a care and maintenance standby mode and positionLIM to refinance an orderly resumption of its iron ore mining activities wheneconomic conditions warrant, while providing creditors with an equity participationin LIM’s assets and business.

Houston Iron Royalties Limited holds a 2% net revenue royalty on LIM’s Houstonproperty and SMI’s Malcolm property.

LIM’sAdvantage and Expertise in the Labrador Trough

Labrador Iron Mines

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LIM was the first iron ore producer in the

Schefferville/Menihek Area in 30 years

Labrador Iron Mines: A First Mover

James Mine was the first deposit developed by LIMin Schefferville and operated 2010 to 2013

50 Million Tonnes of DSO Resources

The Labrador Trough: Canada’s

foremost iron ore producing region

LIM Advantages

Three Years Operating Experience

(2011 – 2013)

Projects close to extensive & existing infrastructure

Superior leverage to iron ore spot price recovery

‘s Iron OreSchefferville/Menihek Region, Labrador Trough

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2011 – 2013:

of iron ore to China

LIM iron ore sold (wmt)

LIM Three Years ofCompleted Operations

Note: Commercial production achieved at the James Mine in April 2012

LIM is one of only a handful of Canadian mining

companies to have exported iron ore into seaborne iron

ore market

LIM’s Current Portfolio of Iron Deposits

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40 mt57% Fe

NI 43-101 Resource1

Houston & Malcolm

DSO Deposits

80 mt 62% Fe

Historic Resource2

Trough 1

LanceRidge

Wollett

Fleming9

Eclipse

(northwest–

not shown onmap)

South Zone

North Zone

Central Zone

North Central

South Central

DSODeposits

1 NI 43-101 compliant resource as at March 31, 2013.

2 Historical resources identified by IOC prior to 1983 were not prepared in accordance with NI 43-101. Tonnage in dry tonnes

Currently focused on

developing the

Houston Project

Initial Elizabeth Taconite Resource3

620 mt 32% Fe

3 NI 43-101 compliant resource as at June 15, 2013

Road accessDirect rail access to Port

Our Projects: Access to Extensive Infrastructure

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Hydro power

Direct rail link to port

Roads, airstrip, town

LIM Wet Process Plant

Town of Schefferville with airstrip

LIM Dry Process StreamHydro Power Connection LIM Process Plant

LIM Road AccessLIM Direct to Port Rail Access

LIM Train to Port

Labrador Iron Mines

.

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Mine and Products– Houston + surrounding deposits

– Sinter and lump products

Rail– TSH, QNS&L: LIM spur line

– Railcar maintenance facility

Port of Sept-Îles– Ore handling facilities with access

to cape-size vessels

– New 50 million tonne Berth at the

Port at Sept-Iles

Complete Mine-to-MarketSolution

James Mine: Three Years of Iron Ore Production

Completed

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(2011 – 2013)

▪ James Mine: ~4.6 million tonnes ore mined and ~8.2 million tonnes

waste removed in three operating seasons (2011, 2012, 2013)

James Mine

Mining & Processing Operations

Labrador Iron Mines

Rail Operations

TSH Railway(Tshiuetin Rail

Transportation Inc.)

Leased locomotives and

operated LIM’s 6 km

spur line

to Emeril Junction in

Labrador: ~200 km

QNS&L(Quebec North Shore

& Labrador Railway)

to Port of Sept-Îles: ~360 km

GWRR(Genesee & Wyoming)

Three

Operating

Seasons(2011 – 2013)

Railed to Port of Sept-Îles

14Using longer 164-car train sets

Rail Operations

▪ Loading rail cars at Silver Yards

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Western Europe (Rotterdam) 5,000 km

Eastern Europe (Constantza) 6,100 km

China (Tianjin) 22,000 km

Deep sea port

on Atlantic

seaboard

» Access to markets:

Europe, Asia and

NorthAmerica

Shipping advantage to

markets in NorthAmerica

and Europe

» Shorter distance relative

to other primary iron ore

regions

✓

’s Shipping Advantage

✓

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Strategic Location Enables Multiple Avenues

Port of Sept-Iles, Multi-User Wharf

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Completed: August 2015

Total Capacity: 50,000,000 tonnes per year

Overhead View

LIM Shipping Operations

▪ Year 1: Frontier Mirage carrying 173,000 wmt of LIM iron ore

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LIM Shipping Operations

▪ Year 2: First Eagle carrying ~176,000 wmt of LIM iron ore

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LIM Shipping Operations

▪ Year 3: SamJohn Dream carrying 186,500 wmt of LIM iron ore

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LIM’sOperations & Projects

-Houston Deposit

-Elizabeth Deposit

-Environmental

Compliance

Labrador Iron Mines

Houston: Projected Eight to Ten Year Mine-Life

Houston Flagship Deposit

Labrador Iron Mines 221 NI 43-101 compliant resource as at March 31, 2013; See Technical Report filed on SEDAR.

2 Historical resources identified by IOC prior to 1983 were not prepared in accordance with NI 43-101.

Aerial view – Houston Deposit.

Houston

31.3 mt M+I @ 57.5% Fe

+ 3.2 mt Inf @ 56.9% Fe

Malcolm (NW extension)

9.2 mt M+I @ 57.8% Fe

+ 0.5 mt Inf @ 56.4% Fe

Total resource

40.5 mt 57.6% Fe1

Upside Potential: Houston and Malcolm deposits remain open along strike

Excellent resource conversion:More than triple the original historical resource2

Houston Flagship Deposit

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Houston + Malcolm

• ~15 km SE of James mine

• Consistent high quality iron ore

product expected

Houston access road

tree clearing complete

Houston Flagship Deposit

Phase 1 Development1

▪ Access road (10km) + bridge

▪ New dedicated rail siding (6km)

▪ In-pit crushing and screening

Houston Development Plan

Revised lower capital development plan1:

▪ Capital investment to put Houston into production relatively modest andlead time for development relatively short, compared with most other iron oreproducers under development in the Labrador Trough

▪ Simple Development Plan

▪ Surface and mining leases in place

Labrador Iron Mines 241 Subject to detailed engineering , design, permitting and financing

Elizabeth Taconite Project - First Resource

▪ Significant potential for resource

expansion; open to NW and SE

▪ Nearby Gagnon taconite target(Quebec)

Taconite targets

represent potential

additional strategic

value component

▪ 620 million tonnes

inferred @ 31.8% Fe1

▪ Exploration potential of

350 – 600 million

tonnes @ 31.9% Fe1

▪ Alongside existing

infrastructure (roads,

rail bed and power line

corridor);

▪ 4 km from James:

direct rail to Sept-Îles

Labrador Iron Mines 251 As at June 15, 2013. See Technical Report filed on SEDAR.

LIM’s exploration efforts have identified a significant iron orebody

Environmental Compliance and Rehabilitation

1 LANDFILL PROJECT

New dry materials

landfill constructed near

the Redmond Mine

2

Fulfilling all environmental /

regulatory obligations

FISH HABITAT

Redmond Creek fish

habitat facility creating

~1,500 m2 of spawning

and rearing habitat for

brook trout

3 JAMES MINE

REHABILITATION

Perimeter berms

constructed around

open pit and settling

ponds area reclaimed

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LIM’sStrategic Partnerships

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Relationships with First Nations

Impact and BenefitAgreements

July 2008 Innu Nation of Labrador (left)

September 2010Naskapi Nation of

Kawawachikamach (2nd from left)

June 2011 Innu Matimekush-Lac John(2nd from right)

February 2012 Innu of Uashat (right)

Social License to Operate

December 2012Economic Partnership

Agreement with NunatuKavut

Local employment

Training programs

Business opportunities

Environmental protection

Community engagement

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Directors & Executive Team

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John Kearney

Chairman & CEO

Mining executive with over 40 years of industry experience. Chairman and CEO

of numerous mining companies, including Canadian Zinc Corporation, Anglesey

Mining plc., Minco plc., Conquest Resources Ltd., and Xtierra Inc.

Board of Director, Mining Association of Canada and Director and Former

President, NWT & Nunavut Chamber of Mines

Rod Cooper

COO

Mining engineer with over 30 years of experience in resource industry.

Previously COO, Baffinland Iron Mines Corporation, VP and Senior Analyst,

Mining, Dundee Securities and VP, Technical Services, Kinross Gold.

Richard Pinkerton

CFO

10 years as an investment banker in mining sector and five years with

PricewaterhouseCooper LLP.

Aiden Carey

SVP, Operations

Held senior operating positions with Barrick Gold Corporation and Cliffs Natural

Resources Inc.

Joseph Lanzon

VP, Corporate Affairs

Over 30 years experience in nuclear and minerals industries including

Aboriginal engagement, contract administration, training and procurement . VP

of Canadian Zinc Corporation, previously held positions with General Electric

and Legislative Assembly of the Northwest Territories.

Jason Macintosh

Corporate Controller

20 years of experience in corporate finance and financial reporting. Previously

held positions within the mining and manufacturing industries, including Dumas

Contracting.

Neil Steenberg,

Corporate Secretary

Securities lawyer with over 30 years experience in mineral exploration and

corporate finance law.

Larry LeDrew

Consultant

Over 30 years of experience in science and environment field; previously held

positions with Sikumiut Environmental Management Ltd., Newfoundland and

Labrador Hydro and the Department of Fisheries and Oceans.

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LIM Executive Team

John Kearney

Chairman & CEO

Mining executive with over 40 years of industry experience;

Chairman and CEO of numerous mining companies.

Bill Hooley

Vice Chairman

Professional mining engineer with 40 years experience.

CEO of Anglesey Mining plc and former President & COO of LIM.

Matthew Coon

Come

Former Grand Chief of the Grand Council of the Crees (Eeyou Istchee) Quebec and former National Grand Chief of the Assembly of First Nations (AFN). Director Goldcorp Inc.

Eric Cunnigham Independent mining consultant since 1996.

Gerry GauthierMining engineer. COO of Xtierra Inc. and Director of Conquest Resources Limited.

Former COO of Nevsun Resources Ltd.

Brendan Lynch

Chief Financial Officer of the Gerald Group, an international commodities merchant engaged in the physical merchanting, trade and structured financing of commodities, and provides trading and investment solutions to both producer and consumer clients worldwide.

Danesh VarmaOver 30 years of experience in the mining finance industry. Director of Anglesey Mining plc and Minco plc. Form CFO of LIM and has held senior positions in the banking, corporate finance and accounting fields.

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LIMH Board of Directors

Main Office

55 University Avenue

Suite 1805

Toronto, Ontario, Canada

M5J 2H7

www.labradorironmines.ca

Contact Us:

John F. Kearney

Chairman and CEO

+1 (647) 728-4101

Rod Cooper

COO

+1 (647) 729-1287

Richard Pinkerton

Chief Financial Officer

+1 (647) 728-4104

Labrador Iron Mines