NML New Millennium Iron Corp.

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

New Millennium Iron Corp. ("NML" or the "Corporation") (TSX:NML) announced today
that Mr. N.K. Misra, Mumbai, India, resigned as a director of the Corporation.
The Tata Steel Group assigned him new duties as Executive Director, Finance, of
Tata Steel Europe.


Lee Nichols, Non-Executive Chairman of NML, said "New Millennium Iron Corp.
thanks Mr. N. K. Misra for his many contributions, especially in the arena of
financial custodial services provided to New Millennium's Board of Directors.
His tenure on the board brought sound, conservative advice to New Millennium's
operations and strategic planning. We wish him well in his future endeavours at
Tata Steel Europe."


Mr. Sandip Biswas has been appointed to the NML Board as a replacement. Mr.
Biswas is currently the Group Director - (Corporate Finance and M & A) for Tata
Steel Limited. In this role, he oversees the Tata Steel Group's financing
strategies, capital structure, mergers and acquisitions, planning and execution
of capital raising activities for both debt and equity, liquidity management,
foreign exchange risk management, investor relations activities and
corporate/legal affairs among other responsibilities. Prior to taking up this
assignment, Mr. Biswas was Group Head - Corporate Finance, Treasury and Investor
Relations, Chief Corporate Finance and Treasury, and Chief Foreign Exchange &
Treasury Management for Tata Steel Limited. 


Mr. Biswas is currently also serving as a Director of various Tata Steel
subsidiaries and joint ventures both in India and abroad, namely Kalimati
Investment Company Limited, Rujuvalika Investments Limited, Tata Steel Holdings
Pte. Limited, Tulip Netherlands (No.1) B.V., Tata Steel Netherlands B.V., Tata
Steel KZN (Pty) Limited, The Dhamra Port Company Limited, Black Ginger 461
(Proprietary) Limited, Tata Steel International (Singapore) Holdings Pte. Ltd.,
Orchid Netherlands (No.1) B.V., ProCO Issuer Pte. Ltd., Tata Steel Minerals UK
Limited, Tata Steel Global Holdings Pte. Ltd., Tata Steel Global Minerals
Holdings Pte. Ltd., Tata Steel Minerals Canada Limited, Tata NYK Shipping Pte.
Limited, Singapore and Sedibeng Iron Ore (proprietory) Limited.


Before taking employment in Tata Steel, Mr. Biswas worked with American Express
Bank, ANZ Grindlays Bank, First India Mutual Fund, CEAT Finance Ltd, Usha Martin
Industries Ltd and Price Waterhouse.


Mr. Biswas is a member of the Institute of Chartered Accountants of India and
also of the Institute of Company Secretaries of India. He holds a bachelor's
degree in Commerce from The University of Calcutta.


Dean Journeaux, NML's President and CEO, said "Sandip will be a strong force in
NML and Tata Steel's future development of the Taconite Project. In addition,
his experience and knowledge of the international financial markets will be of
great value to us in the development of NML's other 100% owned properties. We
welcome him to the Board."


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
one of 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 Limited, one of the largest steel producers in the world, owns
approximately 27% 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 or mineral
reserves, the Corporation is not treating the historical estimate as current
mineral resources or mineral reserves 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.NMLiron.com,
www.tatasteel.com and www.tatasteeleurope.com. 


Dean Journeaux, Eng., is the Qualified Person as defined in National Instrument
43-101 who has reviewed and verified the scientific and technical mining
disclosure contained in this news release.


Forward-Looking Statements 

This document may contain "forward-looking statements" within the meaning of
Canadian securities legislation and the United States Private Securities
Litigation Reform Act of 1995 These forward-looking statements are made as of
the date of this document and the Corporation does not intend, and does not
assume any obligation, to update these forward-looking statements. 


Forward-looking statements relate to future events or future performance and
reflect management of the Corporation's expectations or beliefs regarding future
events and include, but are not limited to, statements with respect to the
estimation of mineral reserves and resources, the realization of mineral reserve
estimates, the timing and amount of estimated future production, costs of
production, capital expenditures, success of mining operations, environmental
risks, unanticipated reclamation expenses, title disputes or claims and
limitations on insurance coverage. In certain cases, forward-looking statements
can be identified by the use of words such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate", or "believes", or variations
of such words and phrases or statements that certain actions, events or results
"may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or
the negative of these terms or comparable terminology. By their very nature
forward-looking statements involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or achievements of
the Corporation to be materially different from any future results, performance
or achievements expressed or implied by the forward-looking statements. Such
factors include, among others, risks related to actual results of current
exploration activities; changes in project parameters as plans continue to be
refined; future prices of resources; possible variations in ore reserves, grade
or recovery rates; accidents, labour disputes and other risks of the mining
industry; delays in obtaining governmental approvals or financing or in the
completion of development or construction activities; as well as those factors
detailed from time to time in the Corporation's interim and annual financial
statements and management's discussion and analysis of those statements, all of
which are filed and available for review on SEDAR at www.sedar.com. Although the
Corporation has attempted to identify important factors that could cause actual
actions, events or results to differ materially from those described in
forward-looking statements, there may be other factors that cause actions,
events or results not to be as anticipated, estimated or intended. There can be
no assurance that forward-looking statements will prove to be accurate, as
actual results and future events could differ materially from those anticipated
in such statements. Accordingly, readers should not place undue reliance on
forward looking statements.

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