New Millennium Iron Corporation has announced new drill core assay results from its Howells Lake and Perault Lake properties. Before winter, NML completed three drill holes in the Howells Lake area and two drill holes in the Perault Lake area. NML expects to start additional drilling on those properties by early March 2012.

Mr Dean Journeaux president & CEO of NML said that "We continue to be impressed with the results of our new drilling, which are similar to those obtained at LabMag and KeMag. This is particularly exciting since Howells Lake covers the area between the LabMag and KeMag deposits and suggests that the two currently discrete deposits may be connected in a much larger one. Overall, I am very encouraged by the indication of the possible existence of a 90 kilometers long mineralized belt extending from KeMag to Perault Lake. These results give credence to the enormous potential of the Millennium Iron Range and NML's objective of expanding the resource potential of one of the largest undeveloped magnetite deposits in the world."

Howells Lake and Perault Lake Drilling Results:
During the 2011 drilling campaign at Howells Lake area, three holes for a total of 347 meters were drilled, where the Howells Lake airborne magnetic anomaly occurs. This area covers the taconite formation connecting the LabMag Deposit and KeMag Deposit. One hole was drilled in 2006 and the results were published in 2011.

At Perault Lake, two holes for a total of 159 meters were drilled. This area occurs south of the LabMag deposit and represents the southern extension of the taconite formation. The Perault Lake airborne magnetic survey anomaly covers a length of approximately 18 kilometers. The core samples were sent to MRC Laboratory for tests and analysis.