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Labrador Iron Reaches Agreement With Quebec Innu To Remove Barriers - Quick Facts

(RTTNews) - Anglesey Mining Plc's (AYM.L) 41% owned associate Labrador Iron Mines Holdings Limited (LIM.TO) has reported that agreement has been reached with the Innu Matimekush-Lac John to immediately remove the barriers that had restricted normal access from the town of Schefferville to adjacent mining properties and thereby enable the ongoing development of the LIM's iron ore projects in Western Labrador and Quebec.

Under the agreement with Innu Matimekush - Lac John, which was ratified by public meeting of the community on September 1, Labrador Iron Mines, together with New Millennium Capital Corp., have committed to jointly support a number of local social activities, including some education, training, health and youth programs and, with Government participation, improvements to the community arena facility in Schefferville.

LIM is now planning to immediately commence ground clearing, in parallel with contractor mobilization, to be followed by civil construction and mechanical erection of the plant in the subsequent weeks. It is expected that the beneficiation plant will be fully erected in about 12 weeks.

The construction of the plant and the initiation of mining activities will enable commercial production activities to commence in the spring of 2011.