Houston Flagship Deposit Development Plan

LIM Recent Developments Enhancing long-term port access Estimated $220 million New multi-user CAPEX berth Expected completion: March 31, 2014 5 million tonne capacity reserved LIM would benefit from first-mover advantage as only current producer; Good progress: » Dredging completed this summer » Ship-loader contract awarded Major civil / structural contract awarded » Mobilization for pile driving completed >> Port indicates construction on time and on budget Dredging commenced for new multi-user deep water dock Artist rendering: Potential new multi-user dock at Port of Sept-Iles LIM 24 Labrador Iron Mines - TSX: LIM LIM

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