Lamelee Files NI 43-101 Technical Report on the Preliminary Economic Assessment for the Lamelee Project

MONTREAL, QUEBEC--(Marketwired - Dec. 19, 2014) -

NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO US NEWSWIRE SERVICES.

Lamêlée Iron Ore Ltd. ("Lamêlée" or the "Company") (TSX VENTURE:LIR) has filed on SEDAR a National Instrument 43-101 Technical Report (the "Technical Report") summarizing the results of its recently completed preliminary economic assessment (the "PEA") in respect of the Company's Lac Lamêlée South Property Project (the "Lamêlée Project") located in the Province of Québec, 50 km south of Fermont. The Technical Report provides the details of the positive PEA results reported in the Company's press releases dated November 25, 2014 and November 28, 2014, entitled "Lamêlée completed a Preliminary Economic Assessment which offers very promising results". The full Technical Report can be accessed from the Company's SEDAR profile at www.sedar.com or from the Company's website at http://www.lameleeiron.com/.

About Lamêlée Iron Ore Ltd

The Company is a new iron ore mineral exploration company focused on the development of an iron mine project located in the southern segment of the Labrador Trough near the border with Newfoundland and Labrador, approximately 50 km south of the city of Fermont (Quebec). The project consists of 29 mineral claims covering 1,524 hectares or 15 km². The common shares are listed on the TSX-V under the symbol "LIR". In December 2013, the Company acquired 100% of Fancamp Exploration's Lac Lamêlée South Iron Project located in the Fermont Mining District of northeastern Quebec, subject to a 1.5% Net Smelter Return royalty in favour of the Sheridan Platinum Group Ltd., of which 0.5% is subject to a buy-back option by the Company for $1.5 million. The Company also granted an additional 1.5% Net Smelter Return royalty in favor of Fancamp Exploration on the Lac Lamêlée South Iron Project, of which 0.5% is subject to a buy-back option by the Company for $1.5 million.

Information set forth in this news release may contain forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are no guarantees of future performance. Lamêlée cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Lamêlée's control. Except as required under applicable securities legislation, Lamêlée undertakes no obligation to publicly update or revise forward-looking information.

Not for release or distribution in the United States or for dissemination to US Newswire Services.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.