Black Iron Inc.

TSX : BKI
FRANKFURT : BIN


Black Iron Inc.

May 13, 2014 17:01 ET

Black Iron Announces AGM Results

TORONTO, ONTARIO--(Marketwired - May 13, 2014) - Black Iron Inc. ("Black Iron" or the "Company") (TSX:BKI)(FRANKFURT:BIN) reports, in accordance with the policies of the Toronto Stock Exchange, that the nominees listed in the management proxy circular dated April 3, 2014 for the 2014 Annual and Special Meeting of shareholders (the "Meeting") were elected as directors of the Company.

Detailed results of the vote for the election of directors held at the Meeting on May 13, 2014 in Toronto, Ontario are set out below.

Votes
For
% Votes
For
Votes
Withheld
% Votes
Withheld
John Detmold 67,894,960 99.99 % 0 0.01 %
Bruce Humphrey 67,904,960 100 % 0 0 %
Jaroslav Kinach 67,894,960 99.99 % 0 0.01 %
Pierre Pettigrew 67,892,960 99.98 % 0 0.02 %
David Porter 67,904,960 100 % 0 0 %
Matthew Simpson 67,904,960 100 % 0 0 %
Christopher Westdal 67,892,960 99.98 % 0 0.02 %

A total of 68,785,860 common shares were voted in connection with the Meeting, representing approximately 38.9% of the issued and outstanding common shares of the Company. The results of other matters considered at the Meeting are reported in the Report of Voting Results as filed by the Company on SEDAR (www.sedar.com).

About Black Iron

Black Iron is an iron ore exploration and development company, advancing its 51% owned Shymanivske project located in Kryviy Rih, Ukraine. This project contains an NI 43-101 compliant resource, with 645.8 Mt Measured and Indicated mineral resources, consisting of 355.1 Mt Measured mineral resources grading 32.0% Total iron and 19.5% Magnetic iron, and Indicated mineral resources of 290.7 Mt grading 31.1% Total iron and 17.9% Magnetic iron, using a cut-off grade of 10% Magnetic iron. Additionally, the project contains 188.3 Mt of Inferred mineral resources grading 30.1% Total iron and 18.4% Magnetic iron. Full mineral Resource details can be found in the National Instrument 43-101 compliant technical report dated December 17, 2012 titled "Feasibility Study of the Shymanivske Iron Ore Deposit for Black Iron Inc." under the Company's profile on SEDAR at www.sedar.com. The project is surrounded by five other operating mines, including ArcelorMittal's iron ore complex. The Company believes that existing infrastructure, including access to power, rail and port facilities, will allow for a quick development timeline to production. Further, the Company holds an exploration permit for the adjacent Zelenivske project, which it intends to further explore to determine its potential. Please visit the Company's website at www.blackiron.com, or write us at info@blackiron.com for more information.

The technical and scientific contents of this press release have been prepared under the supervision of and have been reviewed and approved by Matt Simpson, P.Eng, President and CEO of Black Iron Inc., who is a Qualified Person as defined by NI 43-101. For further information, please see the technical report of the Company, which is available on SEDAR at www.sedar.com.

Forward-Looking Information

This press release contains forward-looking information. Forward-looking information is based on what management believes to be reasonable assumptions, opinions and estimates of the date such statements are made based on information available to them at that time, including those factors discussed in the section entitled "Risk Factors" in the Company's annual information form for the year ended December 31, 2013 (and dated March 14, 2013) or as may be identified in the Company's public disclosure from time to time, as filed under the Company's profile on SEDAR at www.sedar.com. Generally, forward looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved".. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; other risks of the mining industry and the risks described in the annual information form of the Company. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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