New Millennium Iron Corp. announced new drill core assay results from its Howells Lake and Perault Lake properties. Before winter, NML completed three drill holes in the Howells Lake area and two drill holes in the Perault Lake area. NML expects to start additional drilling on those properties by early March, 2012. During the 2011 drilling campaign at Howells Lake area, three holes for a total of 347 m were drilled, where the Howells Lake airborne magnetic anomaly occurs. This area covers the taconite formation connecting the LabMag Deposit (NL) and KeMag Deposit QC. One hole 06HR1279D was drilled in 2006. At Perault Lake, two holes for a total of 159 m were drilled. This area occurs south of the LabMag deposit and represents the southern extension of the taconite formation. The Perault Lake airborne magnetic survey anomaly covers a length of approximately 18 km. The core samples were sent to MRC Laboratory for tests and analysis. The drill core samples, half cores, on average 6 meters long, were sent on a regular basis to Midland Research Center Laboratory at Nashwauk, Minnesota, USA for analysis and testing. The core is assayed for Total Iron and the magnetite concentrate is produced using the Davis Tube and given as Davis Tube Weight Recovery percent. The magnetite concentrate is analyzed for iron and silica. Some selected samples will be assayed for other elements. Based on four hole drill core analyzed to date, the Howells Lake Taconite currently averages 31.26% Fe with 29.37% DTWR. The Davis Tube concentrate averages 69.56% Fe and 2.77% SiO2. Three drills are expected to be mobilized in February to start the work by early March, 2012. Approximately 80 holes for a total of 6,500 meters are expected to be drilled at the Howells Lake and Perault Lake areas. In addition, approximately 2,000 m of exploratory drilling will be carried out to evaluate the other airborne magnetic anomalies located in the Millennium Iron Range and in other magnetic taconite prospects occurring outside the MIR, all of which are owned 100% by NML.