Mary River

Baffinland: owned 50 % by ArcelorMittal and 50 % by Nunavut Iron Ore (NIO)

Year-round presence at Milne Port Site…

…and Mary River Mine site

Located in Qikiqtani Region, Nunavut on Baffin Island

Project consists of nine plus high-grade lump and fine iron ore deposits…

...that can be mined, crushed and screened into saleable products ( no tailings)

IIBA signed on September 6, 2012

Site activity commenced in May, 2013

Currently 300+ people at Mary River and Port site

All materials brought in by Sealift:

Extensive ongoing environmental monitoring and data collection

Mining production starts in Q3 of this year!

First ore shipment to occur in 2015 open water season