Notice of Hearing: In the Matter of Baffinland Iron Mines Corporation et al.

IN THE MATTER OF THE SECURITIES ACT,
R.S.O. 1990, c. S.5 AS AMENDED

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BAFFINLAND IRON MINES CORPORATION, IRON ORE HOLDINGS, LP
AND
NUNAVUT IRON ORE ACQUISITION INC.

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IN THE MATTER OF AN APPLICATION BY
NUNAVUT IRON ORE ACQUISITION INC.

NOTICE OF HEARING
(Section 127)

TAKE NOTICE that the Ontario Securities Commission (the “Commission”) will hold a hearing (the “Hearing”) at its offices at 20 Queen Street West, 17^th Floor, Toronto, Ontario commencing on Thursday, January 6, 2011, at 10:00 a.m. or as soon thereafter as the Hearing can be held;

TO CONSIDER whether it is in the public interest to make a cease trade order in respect of the Shareholder Rights Plan of Baffinland Iron Mines Corporation pursuant to an application by Nunavut Iron Ore Acquisition Inc.

Dated at Toronto this 21^st day of December, 2010