Houston Flagship Deposit Development Plan

LIM Shipping Advantage Deep sea port on Atlantic seaboard » Access to European, Asian and North American markets Shipping advantage to North American and European markets Schefferville Rotterdam Sept-Îles Tianjin >> Shorter distance relative to other primary iron ore regions Pta Madeira Current access to key Asian markets through IOC (Rio Tinto) agreement >> Use of cape-size vessels >> Lower counter-party risk 口 Carajas Port Hedland Western Europe (Rotterdam) 5,000 km Eastern Europe (Constantza) 6,100 km China (Tianjin) 22,000 km Labrador Iron Mines - TSX: LIM LIM 23

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