Mr. Hubert Vallee reports

LAMELEE ANNOUNCES CLOSING OF PROSPECTUS OFFERING

Lamelee Iron Ore Ltd. has closed its previously announced prospectus offering under which Lamelee issued 2,040,004 units in the capital of Lamelee at a price of 13 cents per unit and 11,577,002 flow-through common shares in the capital of Lamelee at a price of 15 cents per flow-through share for gross proceeds to Lamelee of $2,001,750.82.

Each unit comprises one common share of the corporation and one-half of one common share purchase warrant. Each warrant shall entitle the holder thereof to acquire one common share of the corporation for a period of 18 months at an exercise price of 19 cents.

The corporation intends to use the proceeds from the sale of units under the offering for working capital and for exploration expenses on the project of the Lac Lamelee South iron property in the province of Quebec. Proceeds from the flow-through share offering will be solely used by the corporation for exploration expenses.

The offering was completed through Secutor Capital Management Corp. as lead agent and sole book runner.

We seek Safe Harbor.