Labrador Iron Mines Reports March 2012 Year-End Results and Provides Outlook for 2012 Mining Season

TORONTO, ONTARIO--(Marketwire -06/20/12)- Labrador Iron Mines Holdings Limited ("LIM" or the "Company") (LIM.TO) today reported its operating and audited financial results for the fiscal year ended March 31, 2012.

The Company is also pleased to report that it continues to successfully deliver results on a number of key initiatives for the start of the 2012 operating season, including three shipments and sales of iron ore totalling 515,000 tonnes.

Pre-Production Highlights

During the pre-production planning period from January 1 to March 31, 2012, LIM carried out a number of initiatives in support of a successful 2012 operating season:

John Kearney, LIM's Chairman and CEO, commented: "Our strategy during the off-production winter months was to carry out key objectives in order to build a strong foundation for the 2012 mining season. These objectives were designed to address both the operational and organizational requirements critical for the success of our business as we enter the first full season of mining operations in 2012."

Recent Highlights

Full-scale mining operations re-commenced at the James Mine on April 2, 2012 in its first full season of production. To date, the Company has executed key deliverables as follows:

"Given the strong start and progress made to date, we fully expect to achieve our two million tonne production target in 2012" commented Rod Cooper, LIM's President and COO. "With the groundwork at hand, we will continue to focus on optimizing and expanding our operations to achieve excellent results in 2012 and beyond."

Outlook: On Track in 2012

James Mine and Silver Yards

Go here to read the rest:
Labrador Iron Mines Reports March 2012 Year-End Results and Provides Outlook for 2012 Mining Season