New Millennium Capital Corp. Changes Name to "New Millennium Iron Corp."

Corporation's shares continue to trade under stock symbol "NML"


CALGARY, ALBERTA--(Marketwire - June 14, 2011) -

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

New Millennium Capital Corp. (TSX VENTURE:NML) ("NML" or the "Corporation") today announced that, effective today, it will adopt a new brand identity and change its name to New Millennium Iron Corp. The stock symbol will remain "NML". The name change was approved by the shareholders of the Corporation at the annual general and special meeting held on June 8, 2011.

Effective June 15, 2011, the common shares of the Corporation will commence trading on the TSX Venture exchange under the name New Millennium Iron Corp.

Robert A. Martin, President and Chief Executive Officer, said, "Our new name, New Millennium Iron Corp., clearly positions the Corporation within the iron mining industry, which was not the case with our former name. Adopting our new name at this time emphasises New Millennium's transition toward a producing iron ore company but also captures the heritage and investor recognition of our former name."

The Company has also adopted a new logo. Modern yet classic, the square shape of NML's new logo conveys the Corporation's stability and strength. The design evokes a block of stratified stone and the colours reflect that of iron ore, the key elements in the Corporation's activities. Symbolizing an upward curve, the layers represent NML's promising future.

About New Millennium

The Corporation controls the emerging Millennium Iron Range, located in the Province of Newfoundland and Labrador and in the Province of Quebec, which holds the world's largest undeveloped magnetic iron ore deposits. In the same area, the Corporation is also advancing its DSO Project to near term production. Tata Steel, one of the top 10 steel producers of the world, owns approximately 27.1% of New Millennium and is the Corporation's largest shareholder and strategic partner.

Tata Steel has exercised its exclusive option to participate in the DSO Project and has a commitment to take the resulting production (see news release 10-16 dated September 14, 2010). Tata Steel also has exercised its exclusive right to negotiate and settle a proposed transaction in respect of the LabMag Project and the KéMag Project (see news release 11-09 dated, March 6, 2011).

The Millennium Iron Range currently hosts two advanced projects: LabMag contains 3.5 billion tonnes of Proven and Probable reserves at a grade of 29.6% Fe plus 1.0 billion tonnes of measured and indicated resources at an average grade of 29.5% Fe and 1.2 billion tonnes of inferred resources at an average grade of 29.3% Fe (see news release 06-13 dated July 5, 2006, and news release 07-11 dated July 17, 2007); KéMag contains 2.1 billion tonnes of proven and probable reserves at an average grade of 31.3% Fe, 0.3 billion tonnes of measured and indicated resources at an average grade of 31.3 % Fe and 1.0 billion tonnes of inferred resources at an average grade of 31.2% Fe (see news release 09-01 dated January 16, 2009).

NML's DSO project contains 64.1 million tonnes of proven and probable mineral reserves at an average grade of 58.8% Fe, 8.1 million tonnes of measured and indicated mineral resources at an average grade of 58.8% Fe, 7.2 million tonnes of inferred resources at an average grade of 56.8% Fe and about 40.0 - 45.0 million tonnes of historical resources that are not currently in compliance with NI 43-101 (see news release 09-03 dated February 11, 2009, news release 09-05 dated March 4, 2009, news release 09-16 dated December 9, 2009, and news release 10-12 dated July 8, 2010). A qualified person has not done sufficient work to classify the historical estimate, as current mineral resources and the historical estimate should not be relied upon.

The Corporation's mission is to add shareholder value through the responsible and expeditious development of the Millennium Iron Range and other mineral projects to create a large new source of raw materials for the world's iron and steel industries. For further information, please visit www.nmlresources.com, www.tatasteel.com and www.tatasteeleurope.com.

Dean Journeaux, Eng., is the Qualified Person, as defined in National Instrument 43-101, who has reviewed and verified the scientific and technical mining disclosure contained in this news release.

Forward-Looking Statements

This document may contain "forward-looking statements" within the meaning of Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995 These forward-looking statements are made as of the date of this document and the Corporation does not intend, and does not assume any obligation, to update these forward-looking statements.

Forward-looking statements relate to future events or future performance and reflect management of the Corporation's expectations or beliefs regarding future events and include, but are not limited to, statements with respect to the estimation of mineral reserves and resources, the realization of mineral reserve estimates, the timing and amount of estimated future production, costs of production, capital expenditures, success of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative of these terms or comparable terminology. By their very nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, risks related to actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of resources; possible variations in ore reserves, grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of development or construction activities; as well as those factors detailed from time to time in the Corporation's interim and annual financial statements and management's discussion and analysis of those statements, all of which are filed and available for review on SEDAR at www.sedar.com. Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking statements.

NEITHER THE 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.

Contact Information:

New Millennium
Robert Martin
President and Chief Executive Officer
(514) 935-3204
www.nmlresources.com

Investor Relations
Andreas Curkovic
(416) 577-9927