Black Iron is a Canadian iron ore exploration and development company advancing its 100% owned Shymanivske Project located in Krivoy Rog, Ukraine, to production. This Shymanivske Project contains 345 million tonnes measured and indicated resources grading 32% iron and 469 million tonnes inferred resources grading 31% iron. The project is surrounded by five other operating mines including ArcelorMittal’s iron ore complex. Existing infrastructure, including access to power, rail and port facilities, allows for a quick development timeline to production.

Black Iron also holds an exploration permit for the adjacent Zelenivske Project, which it intends to further explore to determine its potential.

Highlights

•     345 Mt Measured & Indicated resource @ 31.83% Fe
•     Additional 469 Mt of Inferred resource @ 31.05% Fe
•     Potential for resource expansion from further drilling at depth
•     Potential for near term iron ore production
•     Transportation infrastructure in place

Project Description and Location


The Shymanivske iron ore deposit is strategically well-positioned in Ukraine between markets in Europe, Russia, Asia and the Middle East. It is located 330 kms southeast from Kiev in central Ukraine, in the heart of the KrivBass iron ore mining district. The Shymanivske deposit is located in the southern part of KrivBass, 2 or 3 kms away from two open pit mines, the No. 3 mine of NKODPE and Novaya which are primarily magnetite quartzites deposits owned by other companies. There are currently seven operating mines in the district, including the adjacent ArcelorMittal operations purchased in 2005.

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Zelenivske Project

Black Iron’s second iron ore project is the Zelenivske deposite located a few kms south of the Shymanivske Project.

Black Iron holds an exploration permit at Zelenivske covering 3.36 square kms valid until 2014.

During 2011 and 2012 Black Iron intends to assess historical data for the Zelenivske deposit and commence an initial exploration program.

Management

Matthew Simpson , P.Eng, MBA , President & Chief Executive Officer

George Mover , P.Eng , Chief Operating Officer

Paul Bozoki , CA, MBA , Chief Financial Officer

Aaron Wolfe , HBA , Vice President, Corporate Development

Christine Gallo , LL.B, BBA , Corporate Secretary

Stefan Gueorguiev , P.Eng. MPM , Project Manager

Board of Directors

Bruce Humphrey , P.Eng , Chairman

John Detmold , BA (Hons) , Independent Director

Jaroslav Kinach , MBA , Independent Director

Hon. Pierre Pettigrew , M.Phil, LLD (honorary) , Director

Dave Porter , MBA , Independent Director

Matthew Simpson , P.Eng, MBA , President & Chief Executive Officer

Christopher Westdal , BA, MBA , Independent Director