Labrador Iron Mines

Holdings Limited

TSX: LIM

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Resource Estimate & Technical Report on the Houston Iron Ore Deposit, Western Labrador (May 18, 2010).
May 25, 2010

Labrador Iron Mines Holdings Limited (TSX: LIM) is focused on the development and production of the Schefferville Projects located in western Labrador and north eastern Quebec. The project comprises 20 direct shipping ("DSO") iron ore deposits forming part of the historic Schefferville area iron ore district where mining of adjacent deposits was previously carried out by the Iron Ore Company of Canada from 1954 to 1982. LIM plans mining in varying stages, the first of which comprises the James and Redmond deposits located in close proximity to existing infrastructure. Upon receipt of all remaining necessary permits, licenses and approvals, the Company plans to commence site construction of the mine and beneficiation facilities during the summer of 2010 towards start up and initial production before year end. Full scale production is expected in April 2011 with production of 2 million tonnes of iron ore. At fiscal year end March 31, 2010, the Company had $48.3 million in cash and cash equivalents with no debt.

Building of the 4.5km rail spur line from the Sept-Iles-Schefferville main line to LIM's processing site at Silver Yards has been completed.

Further pictures of the spur line construction are available by clicking here.

The LIM Advantage		Latest News
100% interest in 20 Direct Shipping (DSO) iron ore deposits in western Labrador and Quebec Extensive infrastructure in place from previous IOC operations including power, airport, roads, 565km of rail, deep sea port Low risk start-up involving several previously developed brownfield sites Low capex open-pit mining, technically simple processing Well capitalized with approximately $45 million in treasury at March 31, 2010 and no debt High quality lump and fines products suitable for European and Asian markets		03-09-2010 - LIM reaches agreement with Quebec Innu to remove barriers | Mine and plant construction to commence immediately 03-09-2010 - LIM parvient à un accord avec les Innus du Québec pour enlever les barricades | La construction de l'usine et la mine commencent immédiatement 16-08-2010 - LIM reports first quarter 2010 financial results and update at its Schefferville iron ore projects 28-07-2010 - LIM Receives Approvals to Commence Construction of Mining Facilities | Mine Development Plan Approved by Government 30-06-2010 - LIM reports fiscal 2010 year end financial results Strong balance sheet with $48.3 million in cash

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