Baffinland and Qikiqtani Inuit Association Sign Three-Year Training MOU for the Proposed Mary River Project

June 3, 2008

June 3rd (Stockhouse) – Baffinland Iron Mines Corporation (“Baffinland”)(TSX: BIM) and the Qikiqtani Inuit Association (“QIA”) are pleased to announce a new and collaborative relationship between Baffinland and the Qikiqtani Inuit Association, Qikiqtaaluk Corporation and Kakivak Association to support a variety of training initiatives associated with the proposed Mary River Project (“the Project”).

Through a Memorandum of Understanding (“MOU”) signed May 31, 2008 the parties have agreed to develop and promote the delivery of mine-related training, training related to economic and community development, labour market research, curriculum development, career development and other related activities for the benefit of Inuit in the communities associated with the Project. A key goal of the agreement is to facilitate Inuit participation in the construction of the Project, which is anticipated to commence in 2010.

The activities developed under the MOU will build on training initiatives already underway at the Project, including heavy equipment operator training, job-shadowing programs and cultural orientation seminars.

Encouraging education and training programs for students, coordinating of work placements, and reducing barriers to Inuit participation will be critical to the success of the program. Funding is anticipated to involve both private and public sector sources. The initial term of the MOU is three years.

Thomasie Alikatuktuk, President of the Qikiqtani Inuit Association, stated, “A lot of the jobs at the Baffinland mine will call for Inuit to get training. QIA is glad to have Baffinland committed to working with us on training programs to help Inuit succeed in getting these jobs.”

Rod Cooper, Chief Operating Officer for Baffinland Iron Mines Corporation, stated “This memorandum of understanding reflects the extremely high level of importance that Baffinland places on ensuring full participation of Inuit in all aspects of the Project, including the exploration, bulk sample, construction, operations and reclamation – the entire mining life-cycle. By working in a spirit of cooperation and collaboration, we will continue to build on our early successes.”

Baffinland is a Canadian publicly-traded junior mining company that is focused on its wholly-owned Mary River iron ore deposits located on Baffin Island, Nunavut Territory, Canada.

The Qikiqtani Inuit Association (QIA) administers the Nunavut Land Claims Agreement for, and represents the interests of the Inuit of the Baffin Region of Nunavut. Qikiqtaaluk Corporation is QIA’s wholly-owned business arm, and Kakivak Association is QIA’s community economic development and training organization.


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