TORONTO, ONTARIO – May 30, 2007 – Baffinland Iron Mines Corporation (“Baffinland”) is pleased to announce that Mr. Donald Charter has joined Baffinland’s board of directors.

Mr. Charter is a senior executive with over 20 years of experience in the capital markets and mining industry. He practiced securities law for 13 years with a major Toronto law firm and was Executive Vice President of Dundee Corporation for 10 years as well as Chairman and CEO of Dundee Securities Corporation.

A graduate of McGill University, Mr. Charter holds a B.A. (honours, economics) and an LL.B. He has considerable public company board experience and currently sits on the boards of a number of public companies including: IAMGOLD Corporation, Glencairn Gold Corporation, Lundin Mining Corporation, Dundee Real Estate Investment Trust and Great Plains Exploration Inc.

“We are pleased to have Don Charter, an experienced business leader, join our board of directors and we look forward to his valued contribution”, said Gordon A. McCreary, President and Chief Executive Officer.

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.