Baffinland Acknowledges the Nunavut Impact Review Board’s Reconsideration Report and Recommendations on Baffinland’s Production Increase Proposal

September 3, 2018

September 3, 2018 – Baffinland welcomes the Nunavut Impact Review Board’s (NIRB) favourable recommendations for the construction of a 15 million litre fuel tank and a 380-person camp and associated infrastructure developments at Milne Inlet. The increased fuel on site and added accommodations at Milne Inlet will allow Baffinland to advance significant improvements at the Mary River Mine.

Baffinland is currently reviewing the NIRB’s recommendations related to trucking and shipping volumes. We thank the NIRB for their comments in the report related to information gaps and will consider and respond expeditiously after consulting with all stakeholders.

Baffinland has filed an environmental impact statement for a conversion of the trucking operation to rail, together with an increase in volume to 12 Mtpa. Subject to receiving required permits in 2019, Baffinland believes this expansion can be completed in late 2020 or early 2021.

About Baffinland Iron Mines Corp.

Baffinland Iron Mines Corporation (Baffinland) is a Canadian mining company, mining iron ore at the Mary River operation in the Qikiqtani region of North Baffin, Nunavut, Canada. It is jointly owned by The Energy and Minerals Group and ArcelorMittal and operates a high-grade iron ore mine here. Our mine produces the highest grade of direct shipping iron ore in the world. Baffinland is committed to operating the Mary River Mine in an environmentally and socially responsible manner that benefits all stakeholders.

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