New Millennium Iron Corp. Announces Tata Steel Minerals Canada's Positive Agreement with the Iron Ore Company of Canada

New Millennium Iron Corp. Announces Tata Steel Minerals Canada's Positive 
Agreement with the Iron Ore Company of Canada Regarding the
Shipment of its Direct Shipping Ore Products 
CALGARY, ALBERTA -- (Marketwired) -- 07/04/13 -- New Millennium Iron
Corp. ("NML" or the "Corporation") (TSX:NML)(OTCQX:NWLNF) announced
today that Tata Steel Minerals Canada ("TSMC"), in which NML has a
20% interest, advises that it has entered into a confidential
agreement for the sale of TSMC's iron ore production to the Iron Ore
Company of Canada ("IOC"). The contract shall allow TSMC to commence
shipment of its products in the current year. 
Under the confidential sales agreement with IOC, TSMC's production
will be sold by IOC's marketing organization for delivery to several
markets, the details of which will be negotiated between the two
parties. In 2012, TSMC produced approximately 300,000 mt of 62% Fe
direct shipping ore ("DSO") sinter fines from a portable screening
plant. Production resumed in mid-June this year and is expected to
continue until October. Meanwhile, construction of the Timmins
Processing Plant is progressing and it is now planned to start the
plant in November producing DSO grade sinter fines using the crushers
and screens and drying for winter shipping. The wet processing and
upgrading section of the plant is currently expected to be
operational in Q1, 2014. The target is to ship about 2.0 million
tonnes in 2013. 
Dean Journeaux, President and CEO of NML, said, "This is an important
step for NML as we transform ourselves from being a developer to a
producer by entering the iron ore market. This interim sales
agreement with IOC will enable TSMC to continue production until TSMC
can use the new multi-user dock now being constructed by the Port of
Sept-Iles at Pointe-Noire, Quebec. We are pleased with the progress
of the DSO Project and will continue to work together with TSMC to
ensure the completion of plant construction and the continuing
transition to a successful production and sales operation." 
About IOC 
IOC is Canada's largest iron ore producer from its mines located in
Western Labrador and is a leading global supplier of iron ore pellets
and concentrates. IOC's major shareholder and operator is the
international mining group Rio Tinto which ha
s activities in more
than 40 countries throughout the world. IOC owns 100% of the Quebec
North Shore and Labrador ("QNS&L") Railway and, at the port of
Sept-Iles, owns established storage and ore handling facilities,
including its shipping dock capable of taking ocean going vessels up
to 240,000 (dwt) tonnes. 
About New Millennium 
The Corporation controls the emerging Millennium Iron Range, located
in the Province of Newfoundland and Labrador and in the Province of
Quebec, which holds one of the world's largest undeveloped magnetic
iron ore deposits. In the same area, the Corporation and Tata Steel
Limited, one of the largest steel producers in the world, are
advancing a DSO Project to near term production. Tata Steel Limited
owns approximately 26.3% of New Millennium and is the Corporation's
largest shareholder and strategic partner. 
Tata Steel exercised its exclusive option to participate in the DSO
Project and has a commitment to take the resulting production (see
news release 10-16 dated September 14, 2010). The DSO Project is
owned and operated by TSMC, which in turn is 80% owned by Tata Steel
and 20% owned by NML. The DSO Project contains 64.1 million tonnes of
Proven and Probable Mineral Reserves at an average grade of 58.8% Fe,
21.0 million tonnes of Measured and Indicated Mineral Resources at an
average grade of 59.2% Fe, 10.3 million tonnes of Inferred Resources
at an average grade of 58.3% Fe and about 25.0 - 30.0 million tonnes
of historical resources that are not currently in compliance with NI
43-101 (see news release 09-03 dated February 11, 2009, news release
09-05 dated March 4, 2009, news release 09-16 dated December 9, 2009,
news release 10-12 dated July 8, 2010 and news release 12-14, dated
May 31, 2012). A qualified person has not done sufficient work to
classify the historical estimate as current mineral resources or
mineral reserves, the Corporation is not treating the historical
estimate as current mineral resources or mineral reserves and the
historical estimate should not be relied upon. 
The Millennium Iron Range currently hosts two advanced projects:
LabMag contains 3.5 billion tonnes of Proven and Probable reserves at
a grade of 29.6% Fe plus 1.0 billion tonnes of Measured and Indicated
resources at an average grade of 29.5% Fe and 1.2 billion tonnes of
Inferred resources at an average grade of 29.3% Fe (see news release
06-13 dated July 5, 2006 and news release 07-11 dated July 17, 2007);
KeMag contains 2.1 billion tonnes of Proven and Probable reserves at
an average grade of 31.3% Fe, 0.3 billion tonnes of Measured and
Indicated resources at an average grade of 31.3 % Fe and 1.0 billion
tonnes of Inferred resources at an average grade of 31.2% Fe (see
news release 09-01 dated January 16, 2009). Tata Steel also exercised
its exclusive right to negotiate and settle a proposed transaction in
respect of the LabMag Project and the KeMag Project (see news release
11-09 dated March 6, 2011). 
The Millennium Iron Range now hosts other taconite deposits. 
The first is the Lac Ritchie property located at the north end of the
Range. The initial 2011 drilling of 40 holes in this property
revealed Indicated Resources of 3.330 billion tonnes at an average
grade of 30.3% Fe, and Inferred Resources of 1.437 billion tonnes at
an average grade of 30.9% Fe (see news release NR 12-11, dated April
02, 2012). 
Two other taconite deposits are located south of the LabMag deposit
in the Millennium Iron Range. The initial 2012 drilling of 23 holes
in the Sheps Lake property and of 50 holes in the Perault Lake
property revealed Indicated Resources of 3.580 billion tonnes at an
average grade of 31.22%, and Inferred Resources of 795 million tonnes
at an average grade of 30.56% (see news release NR 13-04, dated
February 11, 2013). 
The Howells Lake - Howells River North deposit is located between the
LabMag and KeMag deposits, and evidences mineral continuity in the
Range. The 2011 and 2012 drilling of 11 holes in the Howells River
North property and of 45 holes in the Howells Lake property, revealed
Indicated Resources of 7.631 billion tonnes at an average grade of
30.39% Fe, and Inferred Resources of 3.310 billion tonnes at an
average grade of 29.83% Fe (see news release NR 13-15, dated May 23,
2013). 
The Corporation's mission is to add shareholder value through the
responsible and expeditious development of the Millennium Iron Range
and other mineral projects to create a new large source of raw
materials for the world's iron and steel industries. 
For further information, please visit www.NMLiron.com,
www.tatasteel.com, www.tatasteelcanada.com, and
www.tatasteeleurope.com. 
Dean Journeaux, Eng., and Thiagarajan Balakrishnan, P. Geo., are the
Qualified Persons as defined in National Instrument 43-101 who have
reviewed and verified the scientific and technical mining disclosure
contained in this news release. 
Forward-Looking Statements 
This document may contain "forward-looking statements" within the
meaning of Canadian securities legislation and the United States
Private Securities Litigation Reform Act of 1995. These
forward-looking statements are made as of the date of this document
and the Corporation does not intend, and does not assume any
obligation, to upd
ate these forward-looking statements. 
Forward-looking statements relate to future events or future
performance and reflect management of the Corporation's expectations
or beliefs regarding future events and include, but are not limited
to, statements with respect to the estimation of mineral reserves and
resources, the realization of mineral reserve estimates, the timing
and amount of estimated future production, costs of production,
capital expenditures, success of mining operations, environmental
risks, unanticipated reclamation expenses, title disputes or claims
and limitations on insurance coverage. In certain cases,
forward-looking statements can be identified by the use of words such
as "plans", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or variations of such words and
phrases or statements that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be
achieved" or the negative of these terms or comparable terminology.
By their very nature forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Corporation to be
materially different from any future results, performance or
achievements expressed or implied by the forward-looking statements. 
Such factors include, among others, risks related to actual results
of current exploration activities; changes in project parameters as
plans continue to be refined; future prices of resources; possible
variations in ore reserves, grade or recovery rates; accidents,
labour disputes and other risks of the mining industry; delays in
obtaining governmental approvals or financing or in the completion of
development or construction activities; as well as those factors
detailed from time to time in the Corporation's interim and annual
financial statements and management's discussion and analysis of
those statements, all of which are filed and available for review on
SEDAR at www.sedar.com. 
Although the Corporation has attempted to identify important factors
that could cause actual actions, events or results to differ
materially from those described in forward-looking statements, there
may be other factors that cause actions, events or results not to be
as anticipated, estimated or intended. There can be no assurance that
forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not place
undue reliance on forward looking statements.
Contacts:
New Millennium Iron Corp.
Dean Journeaux
President & CEO
(514) 935-3204
www.NMLiron.com 
Investor Relations
Andreas Curkovic
(416) 577-9927
 
 
Press spacebar to pause and continue. Press esc to stop.