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The James Mine is connected by a direct rail link to the Port of Sept-Iles, Quebec. The project also benefits from established infrastructure including the town, airport hydro power and railway service. Starting with the James Mine and leading to the development of the expanding Houston flagship project, our objective is to provide shareholders with long-term value with a plan to increase production towards 5 million tonnes per year from a portfolio of 20 iron ore deposits in Labrador and Quebec, all within 50 kilometres of the town of Schefferville.

LIM is currently the only independently-owned Canadian iron ore producer listed on the Toronto Stock Exchange and trades under the symbol LIM.

For further information, please visit LIM's website at www.labradorironmines.ca.

Cautionary Statements:

Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of iron ore and steel, general market conditions, the uncertainty of future profitability and access to additional capital, risks inherent in mineral exploration and risks associated with development, construction and mining operations, delays in obtaining or failures to reach agreements with any potentially impacted aboriginal groups or to obtain required governmental, environmental or other project approvals. There can be no assurance that the Company will be successful in reaching any agreement with any First Nations groups who may assert aboriginal rights or may have a claim which affects the Company's properties or may be impacted by the Schefferville Area project. Caution should be exercised on placing undue reliance on forward looking information.

To view Figure 2, please visit the following link: www.labradorironmines.ca/images/Figure-2-2012-Exploration-Map.jpg.

Table 2: 2012 Total Metres Drilled

A summary table for 2012 exploration drill program is shown below.

----------------------------------------------------------------------------                                               Diamond         RC      TotalProvince             Property                 Drilling   Drilling   Drilling                                           ---------------------------------                                                   (m)        (m)        (m)--------------------------------------------------------------------------------------------------------------------------------------------------------Newfoundland & Labrador (NL)       James Mine + South          2,086          -      2,086                     -------------------------------------------------------                     Houston 1-2-3               4,504      1,468      6,121                     -------------------------------------------------------                     NL Stockpiles                   -      2,552      2,552                     -------------------------------------------------------                     Elizabeth Taconite          1,728          -      1,728---------------------=======================================================Quebec (QC)          Malcolm 1                       -      1,599      1,599---------------------=======================================================                     TOTAL                       8,318      5,619     13,937----------------------------------------------------------------------------