Black Iron Inc.

Black Iron Inc.

September 21, 2011 07:30 ET

Black Iron Strengthens Management Team With Addition of Nikolay Bairak as Vice President Government & Community Relations

- Black Iron Hires Nikolay Bairak as Vice President, Government & Community Relations to Be Based in Kryviy Rih and Kyiv, Ukraine

- Bairak is the Founder of the Members of Parliament Club, A Non-Partisan Ukrainian Organization Made Up of 300 Parliament Deputies of All Convocations, Including the President of Ukraine

- Bairak is A Former Member of Ukraine's Parliament Where He was Deputy of the Supreme Power Verkhovna Rada and A Former Deputy of Zaporizhzhya Regional Council

- Bairak has Significant Experience and Contacts Within the Ukrainian Government and Broader Community, Both in Kyiv and the Dnepropetrovsk Region Where Black Iron's Projects Are Located

TORONTO, ONTARIO--(Marketwire - Sept. 21, 2011) - Black Iron Inc. ("Black Iron" or the "Company") (TSX:BKI)(FRANKFURT:BIN) is pleased to announce the appointment of Nikolay Bairak, P.Eng, MA, Ph.D Political Science, as its Vice President, Government and Community Relations. Mr. Bairak founded and was President of the Members of Parliament Club, Ukraine, the only organization in Ukraine to include more than three hundred members of Ukrainian Parliament, across all political parties, including the President of Ukraine. Mr. Bairak's knowledge and contacts within the Ukrainian government and broader community will be of great value to the Company and Black Iron is pleased to welcome him aboard.

Mr. Bairak is held in high regard in Ukraine and has been honoured with a number of National Awards including: the Order of Merit (Level III); Honourable diploma of the President of Ukraine; Honourable diploma of Zaporizhzhya Regional Council; Honourable diploma of Ministry of Emergency Situations of Ukraine; Honourable Order of Ministry of Internal Affairs and Ministry of Emergency Situations of Ukraine; Gratitude Warrant from the Head of the Kyiv Regional Council; Gratitude Warrant from the Commander-in-Chief of the Naval Forces of Ukraine.

Matt Simpson, President and Chief Executive Officer of Black Iron commented, "We are very excited to have Nikolay Bairak join the Black Iron team as lead of our government and community relations initiatives in Ukraine. Nikolay will add to our senior presence on the ground in Ukraine, but more importantly, he brings a wealth of knowledge, experience and relationships within the various levels of Ukrainian government including government and community leaders in the Dnepropetrovsk region where both our Shymanivske and Zelenivske Projects are located. Further, as a qualified Metallurgical Engineer with experience in heavy industry, Nikolay will play a significant role in helping us communicate the many safety, environmentally friendly and technical advantages that Black Iron's Projects offer relative to other existing operations."

In 1999, Mr. Bairak founded the Members of Parliament Club, a non-partisan Ukrainian organization whose membership is made up of Ukrainian parliament Deputies of all convocations, including the President of Ukraine. Membership, which has grown from just Mr. Bairak himself, into more than three hundred professionals, also draws support from many business enterprises across Ukraine. Prior to founding the Members of Parliament Club, Mr. Bairak served as First Deputy Head, Zaporizhzhya Regional State Administration from 2001-2003, as Head of Department, Ministry of Emergency Situations of Ukraine from 2000-2001, and a Consultant to the Ukrainian Academy of Political Science from 1998-2000, and as a Member of Parliament, Supreme Council of Ukraine from 1994-1998. Prior to these roles, from 1985-1994, Mr. Bairak was employed is a range of successive more senior engineering roles at both DniproAzot, Dneprodzherzhinsk and Southern Engineering Plant, Dnepropetrovsk.

About the Company

Black Iron is an iron ore exploration and development company advancing its 100%-owned Shymanivske project located in Krivoy Rog, Ukraine. This project contains a NI 43-101 compliant resource with 345Mt measured and indicated resources grading 32% iron and 469Mt of inferred resources grading 31% iron. 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 or write us at for more information.

The technical contents of this press release have been prepared under the supervision of and has been reviewed and approved by Farshid Ghazanfari, P.Geo., Chief Geologist, 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

Forward Looking Information

This press release contains "forward-looking information" which may include, but is not limited to, statements with respect to the anticipated effect of the appointment on the Company's operations and. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "believes" or variations (including negative variations) of such words and phrases, or by the use of words or phrases that state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.

Forward-looking statements regarding the appointment are based on management's assessment on the date such assessments are made, based on past experience and competencies of the appointee. Forward-looking information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company and/or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained in this press release, including, without limitation those described in the Company's public disclosure documents which may be found under the Company's profile on SEDAR. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in such forward-looking information, there may be other factors that may cause actions, events or results to differ from those anticipated, estimated or intended. Should one or more of these risks or uncertainties materialize or should assumptions underlying such forward-looking information prove incorrect, actual results, performance or achievements may vary materially from those expressed or implied by the forward-looking information contained in this press release. The forward-looking information contained herein are made as of the date of this press release and the Company disclaims any obligation to update or review such information or statements, whether as a result of new information, future events or results of otherwise, except as required by law.

Contact Information

  • Investor Cubed
    Investor Relations
    +1 (647) 258-3311 or Toll Free: 1 888 258 3323

    Black Iron Inc.
    Matt Simpson
    President & Chief Executive Officer
    +1 (416) 309-2138