Century Iron Mines Corporation
TSX : FER

Century Iron Mines Corporation

October 09, 2015 14:13 ET

Century Iron Announces Change on Its Board of Directors

TORONTO, ONTARIO--(Marketwired - Oct. 9, 2015) -

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES

Century Iron Mines Corporation ("Century" or the "Company") (TSX:FER) announced today that Mr. Jun (James) Feng had resigned from its Board of Directors. Mr. Feng has been a valuable member of Century's Board of Directors as a representative of WISCO International Resource Development & Investment Limited ("WISCO").

The Board of Directors has appointed Mr. Xinting (Tony) Wang as a director to replace Mr. Feng on the Board of Directors. Mr. Wang currently serves as Chief Executive Officer and President of WISCO Canada Resources Investment Limited. He is a mining engineer by profession with over 20 years of experience with operations and investment in the iron ore mining industry. Mr. Wang also has a wealth of experience in overseas mining investment and management, having served as a director of Hong Kong WISCO GUANGXIN KAM WAH Resources Limited, which managed the development of the Soalala project in Madagascar. Mr. Wang attended the Xi'an University of Technology and Architecture in China, majoring in mining engineering and subsequently the Wuhan University of Technology and Science as the mining engineering graduate student. Mr. Wang also holds a Master Business Administration degree from Ohio University, USA.

Sandy Chim, President and Chief Executive Officer of Century, commented:

"We thank Mr. Feng for his valuable contributions to the Company and wish him well in his future endeavors. We welcome Mr. Wang to the Board of Directors and are confident that his extensive global mining experience will make him a valuable addition to our Board as the Company evolves."

About Century

Century is an exploration and development company with significant properties in the prolific Labrador Trough in Québec, Newfoundland and Labrador, as well as the James Bay area of Québec. Century has two key strategic partners, WISCO and Minmetals, both Chinese state-owned enterprises. Each provides financial resources and technical expertise to assist the Company in advancing its projects. Century's most advanced project is the Joyce Lake DSO project, a joint venture with WISCO located close to Schefferville, Québec. Century owns 60% in the joint venture and WISCO owns 40%. It is planned as a 2.5 million tonne per annum direct shipping iron ore project. A feasibility study was completed in March 2015. The Company is also committed to exploring and evaluating strategic opportunities outside of the iron ore market and to creating shareholder value through the efficient allocation of capital resources.

Century's website is www.centuryiron.com.

CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION

THIS PRESS RELEASE CONTAINS "FORWARD-LOOKING INFORMATION" WITHIN THE MEANING OF CANADIAN SECURITIES LEGISLATION. THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF CENTURY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. FORWARD-LOOKING INFORMATION INCLUDES INFORMATION THAT RELATES TO, AMONG OTHER THINGS, CENTURY'S INTENTION TO EVALUATE PROSPECTIVE TRANSACTIONS ARISING FROM THE REVIEW BY CENTURY OF ITS STRATEGIC OPTIONS AND ITS AVAILABLE WORKING CAPITAL. FORWARD-LOOKING INFORMATION IS BASED ON, AMONG OTHER THINGS, OPINIONS, ASSUMPTIONS, ESTIMATES AND ANALYSES THAT, WHILE CONSIDERED REASONABLE BY CENTURY AT THE DATE THE FORWARD-LOOKING INFORMATION IS PROVIDED, ARE INHERENTLY SUBJECT TO SIGNIFICANT RISKS, UNCERTAINTIES, CONTINGENCIES AND OTHER FACTORS THAT MAY CAUSE ACTUAL RESULTS AND EVENTS TO BE MATERIALLY DIFFERENT FROM THOSE EXPRESSED OR IMPLIED BY THE FORWARD-LOOKING INFORMATION. THE RISKS, UNCERTAINTIES, CONTINGENCIES AND OTHER FACTORS THAT MAY CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE EXPRESSED OR IMPLIED BY THE FORWARD-LOOKING INFORMATION MAY INCLUDE, BUT ARE NOT LIMITED TO, RISKS GENERALLY ASSOCIATED WITH CENTURY'S BUSINESS, AS DESCRIBED IN CENTURY'S ANNUAL INFORMATION FORM FOR THE YEAR ENDED MARCH 31, 2015. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE CENTURY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

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