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Newsletter - issue nbr 7 - January 2014

01/27/2014

Message from President and CEO

Personally and on behalf of New Millennium Iron Corp. (“NML”), I wish a Happy New Year to all our readers.

The Direct-Shipping Ore (“DSO”) Project is approaching completion of construction. Tata Steel Minerals Canada (“TSMC”) shipped 270,000 tonnes of iron ore to overseas markets in 2013. We hope that 2014 will see much higher production.

The Taconite Project feasibility study is nearing completion. Our principal challenges in 2014 will be to find one or two more financial partners (iron ore off-takers) in addition to Tata Steel and to initiate the environmental assessment procedures to allow construction to start as early as possible. Given the importance of social acceptability, the support of many of you will be important.

I stepped down as President and CEO of NML effective January 13, 2014. Mr Robert Patzelt, formerly Senior Vice-President, Corporate Development, Scotia Investments Limited, took my place. I shall be available as Executive Vice-Chairman to assist him in transitioning into his new role. I have great confidence in his ability to take over the multi-faceted task of running NML and to make it a great success. I wish him all the best. As well as assisting Mr Patzelt, I shall concentrate my efforts on seeing the Taconite Project through to production.

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