IRON ORE DEVELOPMENT: 2010 start for Labrador Iron

labradOR — Toronto-based Labrador Iron Mines is moving steadily forward toward a 2010 start-up at its direct-shipping iron ore project near Schefferville.

Drilling at the James and Redmond deposits has been completed. Mining is to begin at both of them next year. Drilling is also complete at the Knob Lake deposit and continues on the Houston deposit. The next two pits will be developed at these deposits.

Labrador Iron says that results of metallurgical studies are encouraging. A 6,500-t bulk sample was taken from the James and Redmond deposits, and was found to yield high grades (60% to 67% Fe) with low levels of impurities. Testing continues.

Additional details of the project are available at www.LabradorIronMines.ca.