2015-04-09 09:04 ET - News Release

http://www.marketwired.com/press-release/lamelee-concludes-a-memorandum-of-understanding-with-duro-felguera-tsx-venture-lir-2008098.htm

Mr. Hubert Vallee reports

LAMELEE CONCLUDES A MEMORANDUM OF UNDERSTANDING WITH DURO FELGUERA

Lamelee Iron Ore Ltd. has concluded a memorandum of understanding with Spanish company Duro Felguera S.A., pursuant to which Duro Felguera will perform the work required to complete certain chapters of the bankable feasibility study of the Lamelee iron ore project, or portions therewith, at no cost to Lamelee, up to a value of $1-million.

For its part, Lamelee has agreed to award to Duro Felguera the engineering, procurement, construction and services agreement for the Lamelee iron ore project, if certain cost and financial parameters are met.

Hubert Vallee, president and chief executive officer of Lamelee, stated: "We are proud to have concluded this important agreement with Duro Felguera, a world-class company involved in major mining projects worldwide. The agreement is a strong indication of the high-value Duro Felguera executives place in our project. It provides Lamelee substantial financial support and access to their international network of clients and suppliers at a critical juncture in the development of the Lamelee iron ore project."