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NR1702

05/18/2017

CALGARY, Alberta, Canada (Marketwired – May 18, 2017) – New Millennium Iron Corp. (“NML” or the “Company”) (TSX:NML) announced today that pursuant to its advance notice bylaw adopted by the Board of Directors effective May 1, 2014 and ratified by the shareholders at the annual meeting held on June 25, 2014, it has received a notice of nomination of directors from H. Dean Journeaux, a shareholder of the Company, in respect of  two director nominees who are expected to be nominated by Mr. Journeaux at the Company’s upcoming annual general meeting of shareholders to be held on June 21, 2017, in Toronto (the “Meeting”).  Mr. Journeaux has advised that he intends to put forward himself and Robert A. Martin for election as directors of the Company (the “Shareholder Nominees”).

The Board of Directors met on May 9, 2017 to consider approval of the Management Information Circular and other matters related to the Meeting and, at that time, requested that the matter of the Shareholder Nominees being added as management nominees for election as directors be considered by the Corporate Governance and Compensation Committee (the “Committee”) with a view to making a recommendation to the Board.  The Board determined that a recommendation by the Committee to any changes to the management nominees would need to be considered by the Board. 

The Committee met on May 15, 2017 and, after careful consideration, determined that, in light of the current operations of the Company and market conditions,  the size of the Board should not be increased and the number of directors of the Company to be elected at the Meeting be fixed at seven (7).  The Management Information Circular in respect of the Meeting will be mailed to shareholders on May 18, 2017 and will include information on the Shareholder Nominees and outline the Company’s voting recommendations to shareholders, including with respect to director nominees for election to the Board.


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