FIRST SHIPMENT OF BAFFINLAND’S MARY RIVER IRON ORE

OAKVILLE, ONTARIO, August 10, 2015 Baffinland Iron Mines is pleased to announce that loading of the first shipment of Mary River iron ore is complete.

The Federal Tiber leaving Milne PortThe Federal Tiber bulk carrier departed from Milne port at 17:12 EDT on Saturday, Aug 8, 2015 carrying a total of 53,624 tonnes of iron ore. The ship is bound for Nordenham, Germany, where its cargo will be unloaded and eventually used to make high quality steel.

Tom Paddon, President and Chief Executive Officer of Baffinland stated, “This is a great moment for Baffinland, its investors, and its employees who have worked hard to reach this goal. In just two years the men and women who work at the site, both Inuit or southern, have collaborated to build the mine and its infrastructure and have now moved the new port into full operation – this is their achievement and they can be proud of what they have accomplished. It is also a significant moment for Nunavut with the world’s most northerly open pit mine now fully functional on Baffin Island. Iron ore from the Naluujaak pit at Mary River mine will soon become an ingredient in European steel and Nunavut’s role in contributing to the global economy has just increased. It’s important to note that, again working collaboratively, local communities, Inuit organizations, governments and industry have shown what can be achieved, and Baffinland is especially grateful for the support it has enjoyed in bringing this project to fruition. We remain committed to the responsible stewardship of the Project’s environment in both this and future phases of the Project. We look forward to building our business in Nunavut and expanding the benefits that the Project brings to Nunavummiut.”

For further information, please view the Company’s website at www.baffinland.com

Media inquiries can be directed to:

Greg Missal

Vice President, Corporate Affairs

Baffinland Iron Mines

Phone: (416) 814-3164

Cell:      (905) 399-7070

www.baffinland.com

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