Mr. Dean Journeaux reports

NEW MILLENNIUM ANNOUNCES NEW 7.63 BILLION TONNES RESOURCES AT HOWELLS LAKE - HOWELLS RIVER NORTH DEPOSIT

New Millennium Iron Corp. has released a resource estimate for its 80-per-cent-owned Howells River North and 100-per-cent-owned Howells Lake properties in Newfoundland and Labrador. Data collected from its 2011 drilling campaign (101.0 metres from one hole) and 2012 drilling campaign (1,114.5 metres from 10 holes) in Howells River North, and 2006 and 2011 drilling campaigns (252.0 metres from two holes), and 2012 drilling campaign (6,561.7 metres from 43 holes) in Howells Lake, demonstrate 7.63 billion tonnes of indicated mineral resources and an additional 3.31 billion tonnes of inferred mineral resources, based on an 18-per-cent Davis Tube weight recovery.

Dean Journeaux, NML's president and chief executive officer, said: "These results are of significant importance for the long-term potential of the Millennium iron range. They provide even more compelling evidence that our LabMag and KeMag deposits are essentially continuous with the Howells Lake-Howells River North deposit connecting the two. With these additional NI 43-101-compliant resources, NML is now firmly established amongst the world's largest holders of iron ore resources. The work is continuing to finalize the feasibility study in collaboration with Tata Steel for the Taconite project, comprising the LabMag and KeMag deposits. However, the remaining deposits are either 100 per cent or 80 per cent owned by NML and are available for development with Tata Steel and/or other partners."

The drilled part of the Howells Lake-Howells River North deposit is 7.5 kilometres long and 3.5 kilometres wide with an area of 26.25 square kilometres, and is located between the LabMag and KeMag deposits. These deposits form part of the 210-kilometre-long Millennium iron range, one of Canada's largest iron ore occurrences.

Mineral resource estimate by SGS

NML engaged SGS Canada Inc. to model the iron ore deposits based on the available drill hole results, primarily from 2012 with three holes from previous years, and to complete a mineral resource estimate in compliance with National Instrument 43-101. The geological model was used as the basis for a categorized block model resource estimate to complete a mineral resource estimation for the property. NML will integrate these results into its own geological software system for future open-pit design and mine planning.

             SUMMARY OF HOWELLS LAKE-HOWELLS RIVER NORTH PROPERTIES 
                      (based on a cut-off 18-per-cent DTWR)

           Resource        Tonnes in  Total         Concentrate  Concentrate
Property   classification   millions    Fe%  DTWR%          Fe%        SiO2%

Howells                                                                     
Lake       Indicated           6,502  30.31  28.72        69.65         2.63
           Inferred              734  30.07  25.89        69.67         2.69
Howells                                                                     
River                                                                      
North (1)  Indicated           1,129  30.87  29.83        69.86         2.40
           Inferred            2,576  29.77  27.56        69.84         2.50
                               -----  -----  -----        -----         ----
Total      Indicated           7,631  30.39  28.88        69.68         2.60
Total      Inferred            3,310  29.83  27.19        69.80         2.54

(1) Naskapi LabMag Trust through LabMag Limited Partnership owns the 20 per 
cent.

Mineral resources are concentrations or occurrences of minerals in such form and quantity and of such grade or quality such that they have reasonable prospects for economic extraction. While New Millennium has historically used a cut-off of 18-per-cent DTWR to meet this test, previous studies (2012 National Instrument 43-101 report on the Lac Ritchie deposit, 2009 National Instrument 43-101 report on the KeMag deposit) have shown that the marginal cut-off for Davis Tube weight recovery to meet this test could be lower than 18 per cent. SGS Canada built a pit shell for the Howells River North-Howells Lake properties based on the economic parameters described in the Lac Ritchie National Instrument 43-101 technical report. According to those parameters, the resulting cut-off grade is 4.7-per-cent DTWR. This cut-off grade is significantly lower than the usual 18 per cent, and SGS Canada considers it reasonable to use a cut-off grade of 15-per-cent DTWR for the delineation of mineral resources.

The 15-per-cent DTWR table indicates the effect of a lower DTWR cut-off. At a cut-off of 15-per-cent DTWR, the mineral resources of Howells Lake and Howells River North increase from 7.631 billion to 8.115 billion tonnes of indicated resources (at an average of 28.16-per-cent DTWR) and from 3.31 billion to 3.621 billion tonnes of inferred resources (at an average of 26.29-per-cent DTWR).

           SUMMARY OF HOWELLS LAKE-HOWELLS RIVER NORTH PROPERTIES 
                 (based on a cut-off 15-per-cent DTWR)

           Resource        Tonnes in  Total         Concentrate  Concentrate
Property   classification   millions    Fe%  DTWR%          Fe%        SiO2%

Howells                                                                     
Lake       Indicated           6,972  30.10  27.91        69.61         2.67
           Inferred              838  29.97  24.75        69.67         2.68
Howells                                                                     
River                                                                      
North      Indicated           1,143  30.82  29.67        69.85         2.40
           Inferred            2,783  29.55  26.75        69.82         2.51
                               -----  -----  -----        -----         ----
Total      Indicated           8,115  30.20  28.16        69.64         2.63
Total      Inferred            3,621  29.65  26.29        69.78         2.55

Maxime Dupere, Geo, is the independent qualified person responsible for the mineral resource estimate and the preparation of the technical report in compliance with National Instrument 43-101. Dean Journeaux, Eng, and Moulaye Melainine, Eng, 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.

A technical report in respect of these mineral resource estimates is required to be filed on SEDAR within 45 days. The effective date of this mineral resource estimate is April 30, 2013.

              SUMMARY OF THE NEW MILLENNIUM IRON RANGE RESOURCES 
                  (based on a cut-off of 18-per-cent DTWR)

Property                         Resources category, million tonnes         
                      Proven and probable Measured and indicated    Inferred

KeMag                               2,141                    307       1,014
LabMag                              3,545                  1,045       1,151
Lac Ritchie                                                3,330       1,437
Howells Lake-Howells                                                        
River North                                                7,631       3,310
Sheps Lake                                                 1,967         289
Perault Lake                                               1,612         507
                                    -----                 ------       -----
Total                               5,686                 15,892       7,708

Dean Journeaux, Eng, and Thiagarajan Balakrishnan, PGeo, 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.

We seek Safe Harbor.