Central Iron Ore Limited
TSX VENTURE : CIO

Central Iron Ore Limited

February 01, 2010 08:30 ET

Central Iron Ore Limited: Application for Additional Iron Ore Tenements

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 1, 2010) -

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Central Iron Ore Ltd (TSX VENTURE:CIO) ("the Company") is pleased to announce that following retention of the services of a Kalgoorlie based group of consultants it has successfully identified prospective Iron areas in the Gadacie and Lake Barlee region of Western Australia prospective for iron ore exploration.

The Gadacie and Lake Barlee regions are located within the Yilgarn Iron Ore Province ("YIOP"). The Yilgarn province is considered highly prospective, given its history of large-scale iron ore production, with the Koolyanobbing operation (formerly Portman Limited) currently producing at a rate of about 5Mtpa of Direct Shipping Ore ("DSO").

Following provision of the consultants' services, the Company has made 3 new successful Exploration Licence applications as detailed in the table below:

Tenement Application Area (km2)
     
ELA30/414 22/12/09 93
ELA30/415 22/12/09 93
ELA30/1749 22/12/09 111
     

Subject to TSX Venture Exchange approval, the Company will pay a total cash fee of $50,000 and issue 1 million shares to the Consultants for their services. The shares will be escrowed for 4 months. These applications are in addition to the applications in the recent news release dated January 20, 2010.

Tenement Application Area (km2)
     
ELA77/1736 7/12/09 42
     

The ground holding within the YIOP is over 450km2 (45,000 hectares) and this marks a significant change of focus for the company. The company believes the shift towards Iron Ore exploration and will provide a new phase of growth for the company.

The strategy and objective of the Company will be to evaluate the occurrence of both magnetite ore and DSO. Exploration planning is underway to carry out rock chip sampling and target generation within the tenement holding has commenced.

QUALIFIED PERSON

Mr. Andrew Spinks B.App.Sc, Grad.Dip (Mining), a member of AusIMM, and a consultant geologist, is a Qualified Person as defined in National Instrument 43-101 -Standards of Disclosure for Mineral Projects ("NI 43-101").

On behalf of the Board of Directors

CENTRAL IRON ORE LIMITED

Andrew Spinks, President/CEO

For further information, please contact: www.internationalgoldmining.com

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