NML New Millennium Iron Corp.

NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

New Millennium Capital Corp. ("NML" or "the Corporation") (TSX VENTURE:NML)
announced today that, subject to regulatory approval, it has granted a total of
3,315,000 options to purchase common shares of NML to the directors, officers,
consultants and employees of NML, in accordance with the Corporation's stock
option plan. These options expire five years from the date of grant, have an
exercise price of $3.36 per share and vest, as to 50%, on each of the first and
second anniversaries of the date of grant (such that the options are fully
vested two years from the date of grant). Out of these options, 1,850,000
options were granted to directors and officers of the Corporation. NML has
determined that exemptions from the various requirements of the TSX Venture
Exchange Policy 5.9 and Multilateral Instrument 61-101 are available for the
issuance of the options to the directors and officers of the Corporation (Formal
Valuation - Issuer Not Listed on Specified Markets; Minority Approval - Fair
Market Value Not More Than 25% of Market Capitalization).


About New Millennium

The Corporation controls the emerging Millennium Iron Range, located in the
Province of Newfoundland and Labrador and in the Province of Quebec, which holds
the world's largest undeveloped magnetic iron ore deposits. In the same area,
the Corporation is also advancing its DSO Project to near term production. Tata
Steel, one of the top 10 steel producers of the world, owns approximately 27.1%
of New Millennium and is the Corporation's largest shareholder and strategic
partner. 


Tata Steel has exercised its exclusive option to participate in the DSO Project
and has a commitment to take the resulting production (see news release 10-16
dated September 14, 2010). Tata Steel also has exercised its exclusive right to
negotiate and settle a proposed transaction in respect of the LabMag Project and
the KeMag Project (see news release 11-09 dated, March 6, 2011).


The Millennium Iron Range currently hosts two advanced projects: LabMag contains
3.5 billion tonnes of Proven and Probable reserves at a grade of 29.6% Fe plus
1.0 billion tonnes of Measured and Indicated resources at an average grade of
29.5% Fe and 1.2 billion tonnes of Inferred resources at an average grade of
29.3% Fe (see news release 06-13 dated July 5 2006 and news release 07-11 dated
July 17, 2007); KeMag contains 2.1 billion tonnes of Proven and Probable
reserves at an average grade of 31.3% Fe, 0.3 billion tonnes of Measured and
Indicated resources at an average grade of 31.3 % Fe and 1.0 billion tonnes of
Inferred resources at an average grade of 31.2% Fe (see news release 09-01 dated
January 16, 2009). 


NML's DSO project contains 64.1 million tonnes of Proven and Probable Mineral
Reserves at an average grade of 58.8% Fe, 8.1 million tonnes of Measured and
Indicated Mineral Resources at an average grade of 58.8% Fe, 7.2 million tonnes
of Inferred Resources at an average grade of 56.8% Fe and about 40.0 - 45.0
million tonnes of historical resources that are not currently in compliance with
NI 43-101 (see news release 09-03 dated February 11, 2009, news release 09-05
dated March 4, 2009, news release 09-16 dated December 9, 2009 and news release
10-12 dated July 8, 2010). A qualified person has not done sufficient work to
classify the historical estimate as current mineral resources and the historical
estimate should not be relied upon.


The Corporation's mission is to add shareholder value through the responsible
and expeditious development of the Millennium Iron Range and other mineral
projects to create a new large source of raw materials for the world's iron and
steel industries. For further information, please visit www.nmlresources.com,
www.tatasteel.com and www.tatasteeleurope.com.

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