New Millennium Iron Corp. announced that Robert Patzelt, President and Chief Executive Officer since January 2014, will leave the Company as both an officer and director at the end of 2016. Mr. Patzelt will be succeeded by Ernest Dempsey, currently NML's Vice President -Marketing and Corporate Affairs, who becomes Chief Executive Officer on an interim basis effective January 1, 2017.

Mr. Dempsey has over forty years of international experience in the iron ore industry, having served in executive roles at Iron Ore Company of Canada, as representative of Rio Tinto's iron ore businesses in Europe, and with Mitsubishi Development Pty. Ltd. in Australia. He joined NML in 2011 and has had multiple responsibilities, including day-to-day management, business development and investor and government relations.