Labrador Iron Mines Holdings Limited announced that it has filed its unaudited financial statements and MD&A for the second quarter ended September 30th 2009.

At September 30th 2009, the company had cash and cash equivalents in excess of USD 28 million and working capital was USD 27 million with no borrowings or debt.

Throughout the 6 months ended September 30th 2009 and subsequently, the company has made steady progress in advancing its Schefferville Project towards production with ongoing active programs, including drilling, metallurgical testing, environmental permitting and marketing.

LIM's Schefferville area project involves the development of eight direct shipping iron ore deposits in Western Labrador near Schefferville. The company's properties are 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.