Baffinland Reports Outstanding Results From Steel Producer's Blast Furnace Tests of Its Mary River Lump Iron Ore Trial Cargo

09/17/2009

TORONTO, ONTARIO--(Marketwire - Sept. 17, 2009) - Baffinland Iron Mines Corporation ("Baffinland" or the "Company") (TSX:BIM) reported today results from its lump iron ore trial cargo shipped to ThyssenKrupp Steel ("ThyssenKrupp") in October 2008. A 54,464 tonne lump iron ore cargo was shipped to ThyssenKrupp Steel as part of Baffinland's 113,217 tonne lump and fine iron ore trial cargos mined in 2008 for its bulk sample program at its wholly-owned Mary River Iron Ore project.

"The trial cargo of Mary River lump iron ore is a high quality lump ore that has many advantages as a blast furnace feed in comparison with other lump ores. It will be one of the world's preferred blast furnace lump iron ore feeds", stated Dr Peter Schmole, Head of Technology and Senior Manager Hot Metal Production, ThyssenKrupp Steel, under whose supervision the work was completed. The lump iron ore exhibited excellent physical attributes and caused no problems in handling or transportation. Mary River lump ore also exhibited excellent metallurgical characteristics and high quality in comparison to other lump iron ores.

In July 2009, ThyssenKrupp consumed the lump iron ore in the Schwelgern #2 blast furnace, one of the largest blast furnaces in the world. ThyssenKrupp used an average 16% of Mary River lump iron ore and 84% of sinter as its burden in the blast furnace. Approximately 1,600 kilograms of iron ore is used to produce one tonne of hot metal. The lump iron ore was consumed in a low productivity environment caused by the steel market conditions with ThyssenKrupp using 100% coke in the blast furnace. In normal operations, ThyssenKrupp would use a combination of coke and injected pulverized coal as auxiliary reducing agent.

Michael Zurowski, Executive Vice President of Baffinland said "Baffinland's Mary River lump iron ore has now passed the ultimate test, the rigours of the commercial blast furnace. Baffinland is very pleased with the outstanding test results of the trial cargos. Mary River lump iron ore is an exceptional lump iron ore and should be an attractive alternative for pellets as a cheaper burden feed with no loss of productivity. Although the extensive metallurgical testwork completed on drill core and surface samples has continuously defined Mary River lump ore as a superior quality lump iron ore, its use in the blast furnace provides the final confirmation of the superb physical, chemical and metallurgical properties of the Mary River iron ore deposits."

Baffinland is a Canadian publicly-traded junior mining company that is focused on its wholly-owned Mary River iron ore deposits located on Baffin Island, Nunavut Territory, Canada. Baffinland's shares trade on the Toronto Stock Exchange under the trading symbol BIM.