June 14 (Reuters) - New Millennium Iron Corp NML.TO :
* New Millennium Iron Corp. announces cost reduction
measures
* Measures include a workforce reduction of 11 full-time
employees
* Net annualized payroll savings will be approximately $1.35
million
* Level of exploration spending over next five years
necessary to preserve NML's mining claims will reduce by as much
as $3.4 million
* Cost reduction initiatives provide co with sufficient
capital to support activities through 2018 at present
expenditure levels
Source text for Eikon: ID:nCCN8vVj3k
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