Labrador Iron Mines Holdings Limited Announces Filing of Final Prospectus, Approval of Listing on Toronto Stock Exchange under the Ticker Symbol - "LIR".

    TORONTO, Nov. 27 /CNW/ - Labrador Iron Mines Holdings Limited ("LIR" or
the "Company") is pleased to announce that the Final Prospectus in connection
with the proposed Initial Public Offering of units of the Company has been
filed with, and receipted by, the securities regulatory authorities in each of
the provinces of Canada, except for Québec, and that the Toronto Stock
Exchange has conditionally approved the listing of the Company's common shares
and common share purchase warrants.
    The Company has agreed with Canaccord Capital Corporation, as agent, to
offer 11,473,000 units at a price of $4.00 per unit (the "Offering"). Each
unit consists of one common share and one-half of one common share purchase
warrant, each whole warrant exercisable to purchase one additional common
share at a price of $5.00 per share at any time prior to 24 months from the
closing of the Offering. The Offering is expected to close on or about
December 3, 2007.
    The Company's shares and warrants have been conditionally approved for
listing on the Toronto Stock Exchange (TSX) and are expected to commence
trading on an "if, as and when issued" basis on November 27, 2007.

    The Stock Ticker Symbols on the TSX are:
    Common Shares      "LIR"
    Warrants           "LIR.WT"

    In addition, the Company has granted Canaccord an over-allotment option
(the "Over-Allotment Option"), exercisable for a period of 30 days following
the closing of the Offering, to purchase up to an additional 15% of the number
of units issued pursuant to the Offering at a price of $4.00 per unit.
    The Final Prospectus is available on Copies of the Final
Prospectus may also be obtained from Canaccord by contacting Amy Patel,
Canaccord Capital Corporation (416)869-7368.

    This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities in any jurisdiction where it
is not lawful to do so.

    The securities described herein have not been and will not be registered
under the United States Securities Act of 1933, as amended, or the securities
laws of any state and may not be offered or sold in the United States absent
an exemption from registration.

    About Labrador Iron Mines Holdings Limited

    The Company was established with the primary business objective of
exploring for and developing direct shipping iron ore deposits on properties
in which it holds interests located in the Labrador Trough, in the province of
Newfoundland and Labrador, near Schefferville, Québec.

    Cautionary Note:

    This press release contains "forward-looking information" within the
meaning of applicable Canadian securities legislation. No regulatory body has
reviewed or accepts responsibility for the adequacy or accuracy of this press

For further information:

For further information: John F. Kearney, Chairman and CEO, T: (416)
362-6686; Bill Hooley, President and COO, T: (011) 44 778 557 2517; Terence
McKillen, Vice President, T: (416) 362-8243

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Labrador Iron Mines Holdings Limited

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