Black Iron Inc. is a TSX-listed, Canada-based company advancing the 100%-owned Shymanivske project located in Kryviy Rih, Ukraine, a globally top-ranked iron ore project. The Shymanivske project is surrounded by five operating iron ore mines, including several owned by Metinvest and ArcelorMittal’s iron ore complex. The project considers a mining and mineral processing operation having an initial nominal capacity of 4.0 Mtpa of dry 68% iron content blast furnace pellet feed concentrate. The flowsheet and process equipment for the initial 4.0 Mtpa of concentrate will be replicated in order to double the production capacity with construction starting in year 3 to allow for production of 8.0 Mtpa starting in year 5 of production. The present re-scoped PEA replaces the previous 2014 Feasibility Study NI 43-101 Report as the current report for the Shymanivske Project.