Notice of Labrador Iron Mines Second Quarter Results Conference Call and Webcast

TORONTO, ONTARIO--(Marketwire - Oct 16, 2012) - Labrador Iron Mines Holdings Limited ("LIM" or the "Company") (LIM.TO) will be releasing its September 2012 Second Quarter results before the market opens on Thursday, November 15, 2012. LIM''s financial statements and Management''s Discussion and Analysis will be available on the Company''s website and filed on SEDAR (www.sedar.com).

Members of the senior management team will host a conference call and webcast on Thursday, November 15, 2012 at 11:00 am (ET) to discuss the results.

Via Conference Call (Telephone):

Local and International: +1 (416) 641-6104

Canada and US Toll-free: +1 (866) 696-5894

Please reference "Labrador Iron Mines Second Quarter Conference Call" when prompted.

Via Webcast:

A live audio webcast will be available on LIM''s homepage at http://www.labradorironmines.ca/.

Replay:

For those who are unable to participate in the live conference call, a replay will be available until the end of day on November 29, 2012.

Local and International: +1 (905) 694-9451

Canada and US Toll-free: +1 (800) 408-3053

Passcode: 7575211

The webcast will be archived on LIM''s website for 180 days.

About Labrador Iron Mines Holdings Limited (LIM)

Labrador Iron Mines (LIM) is Canada''s newest iron ore producer. We own a portfolio of direct shipping (DSO) iron ore operations and projects located in the prolific Labrador Trough. Initial production commenced at our 100%-owned James Mine in June 2011 and we recorded the sale of 400,000 tonnes of iron ore in our first start-up season. The first full production season commenced in April 2012 and we are forecasting sales of 1.7 million tonnes of iron ore for the 2012 year.

LIM is focused on a strategic and robust growth plan arising from our portfolio of 20 iron ore deposits in Labrador and Quebec, all within 50 kilometres of the town of Schefferville. The James Mine is connected by a direct rail link to the Port of Sept-Iles, Québec. The area also benefits from established infrastructure including the town, airport, hydro power and railway service. Starting with the James Mine and leading to the development of the expanding Houston flagship project, our objective is to provide shareholders with long-term value as we ramp up production and sales towards 5 million tonnes per year.

We are currently the only independently-owned Canadian iron ore producer listed on the Toronto Stock Exchange and trade under the symbol LIM.

For further information, please visit LIM''s website at www.labradorironmines.ca.

Cautionary Statements:

Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company''s actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of iron ore and steel, general market conditions, the uncertainty of future profitability and access to additional capital, risks inherent in mineral exploration and risks associated with development, construction and mining operations, delays in obtaining or failures to reach agreements with any potentially impacted aboriginal groups or to obtain required governmental, environmental or other project approvals. There can be no assurance that the Company will be successful in reaching any agreement with any First Nations groups who may assert aboriginal rights or may have a claim which affects the Company''s properties or may be impacted by the Schefferville Area project. Caution should be exercised on placing undue reliance on forward looking information.