New Millennium Capital Corp.

New Millennium Capital Corp.

February 01, 2007 19:07 ET

New Millennium Capital Corp.: The Honourable A. Anne McLellan Joins New Millennium as Strategic Advisor

CALGARY, ALBERTA--(CCNMatthews - Feb. 1, 2007) -


New Millennium Capital Corp. ("NML" or "the Company") (TSX VENTURE:NML) announced today that the Honourable A. Anne McLellan has joined the Company as a strategic advisor.

Ms. McLellan is a former Deputy Prime Minister of Canada. First elected to the House of Commons in Edmonton Centre in October 25, 1993, Ms. McLellan served four terms as a Member of Parliament wherein she distinguished herself in several senior cabinet positions including Minister of Natural Resources, Minister of Health, Minister of Justice and Attorney General of Canada, federal interlocutor for Metis and non-status Indians, and as Canada's first Minister of Public Safety.

Robert Martin, President and CEO of New Millennium, said, "We are honoured that someone with Ms. McLellan's reputation and prominent record of contribution to Canadian public life is joining us a strategic advisor. Anne's unique and lengthy experience in the complementary spheres of public policy and corporate strategy will prove invaluable to New Millennium and its shareholders."

Ms. McLellan said "I am excited to be able to join the NML team to assist them in their development as a world class iron ore supplier to the global steel industry."

Since leaving the House of Commons, Ms. McLellan joined Bennett Jones LLP as Counsel in its Edmonton office July 4, 2006, where she provides strategic advice to the firm and its clients. She has also been appointed distinguished scholar in residence at the University of Alberta in the Institute for United States Policy Studies. Ms. McLellan also serves on the Board of Directors of Cameco Corporation (TSX:CCO), Nexen Inc. (TSX:NXY) and Agrium Inc. (TSX:AGU).

About New Millennium

New Millennium holds an 80% interest in the LabMag Iron Ore Project, the world's largest known undeveloped magnetite reserve that is currently at an advanced stage of exploration. The project is located in the province of Newfoundland and Labrador ("NL") about 220 km north of Labrador City and 30 km northwest of Schefferville, Quebec. The development envisions the construction and operation of a mine, crusher, concentrator, slurry pipeline, pellet plant, shiploading facilities and related infrastructure. Subject to positive feasibility studies and project financing, it is expected that pellet production from LabMag would constitute a significant new source of global pellet supply and would be shipped by ocean vessels to markets in Canada, the United States, Western Europe and Asia.

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This release may contain forward looking statements within the meaning of the "safe harbor" provisions of US laws. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward looking statements. New Millennium does not assume any obligation to update any forward looking information contained in this news release.

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