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Message: Reports Additional Outstanding Results From Steel Producer's Blast Furnace Test

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Reports Additional Outstanding Results From Steel Producer's Blast Furnace Test

posted on Oct 14, 09 06:36PM

October 14, 2009

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

TORONTO, ONTARIO--(Marketwire - Oct. 14, 2009) - Baffinland Iron Mines Corporation ("Baffinland" or the "Company") (TSX:BIM) reported today results from its lump iron ore trial cargo shipped to one of the world's leading steel companies in October 2008. It was the final shipment as part of a 113,217 tonne lump and fine iron ore trial cargo mined during its 2008 bulk sampling program at its wholly-owned Mary River Iron Ore project. Results from the 31,050 tonne lump iron ore sample were excellent and hot metal quality remained high. As a result, it was concluded that Mary River lump iron ore would be useable at a high rate (percentage Mary River lump iron ore in the burden mix) even at high blast furnace productivity.

Of the 31,050 tonnes of lump iron ore reported on today, 11,000 tonnes were consumed during October 2008. As a result of the extraordinarily good results during the initial test and subsequent lab results providing further confidence, the final blast furnace test was conducted in July 2009 under more ambitious conditions than initially planned. Immediately prior to the test in a high productivity environment, the blast furnace burden mix was 2% non-Mary River lump iron ore, 56% sinter and 42% pellets. Mary River lump iron ore was added to the blast furnace burden mix increasing to approximately 25% of the mix. In the test, Mary River lump was substituted directly for pellets, increasing the total lump percentage to 27% and reducing pellet content to 17% of the mix; with sinter content remaining constant.

Michael Zurowski, Executive Vice President of Baffinland said "Baffinland's Mary River lump iron ore is now proven to be an exceptional blast furnace burden feed. Baffinland is again very pleased with the outstanding test results of the trial cargos. Mary River lump iron ore has outstanding chemical, physical and metallurgical characteristics that will make it a premier sales product. The trial cargos have confirmed that once commercial product is achieved, Mary River iron ore will be a sought-after blast furnace feed for a great many years."

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.

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