New Millennium Iron Corp. welcomed the announcement by the Government of Quebec that it has signed an Agreement-in-Principle with TS Global Minerals Holdings, a Tata Steel group company, regarding possible participation in the direct shipping ore ("DSO") project near Schefferville, Quebec. The DSO project is owned and operated by Tata Steel Minerals Canada Limited, in which NML holds a 6% interest.

According to the Quebec announcement, a decision is expected before March 31, 2016.