Century Iron Announces Results of 2014 Annual General and Special Meeting and Management Appointments

TORONTO, CANADA--(Marketwired - Sept. 30, 2014) -

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Century Iron Mines Corporation ("Century Iron" or "Century" or the "Company") (TSX:FER) is pleased to announce the results of its 2014 Annual General and Special Meeting of shareholders that was held on September 29, 2014 in Toronto.

The shareholders approved the following resolutions at the meeting:

• The continuation of the Company into British Columbia under the British Columbia Business Corporations Act ("BCBCA");
• The re-appointment of the Company's auditors for the upcoming year; and
• The election of the slate of directors proposed by management.

The shareholders approved the continuation of the Company's jurisdiction of incorporation from a federally-incorporated company under the Canada Business Corporations Act into British Columbia under the BCBCA for reasons described in the Management Information Circular. One of the important advantages of the continuation is that it provides the Company with a more recent corporate statutory environment in which to govern its business. The BCBCA allows for greater flexibility with respect to the composition of the Board of Directors (the "Board"). The Board will no longer be required to have a minimum number of Canadian resident directors, thereby permitting it to have a broader international focus. The Company believes that this broader international focus will make it more attractive for a potential international listing in the future. Century will now proceed with the required administrative and regulatory steps to complete this continuation, and will advise shareholders when the transition to the BCBCA takes effect.

In addition, PricewaterhouseCoopers LLP have been re-appointed as auditors of the Company.

Director Appointments

Century Iron is pleased to announce the re-election of all the previous directors of the Board, and the additional appointment of Kit Ying (Karen) Lee, as a new director of the Board.

Kit Ying (Karen) Lee is a seasoned senior executive with over 20 years of experience in the financial markets, serving as a senior executive in various positions with the regulatory authorities and exchanges in Hong Kong. Ms. Lee's previous roles include serving as the Taskforce Leader for the successful and timely execution of the merger in 1999-2000 of the Stock Exchange of Hong Kong Limited, Hong Kong Futures Exchange Limited and Hong Kong Securities Clearing Company Limited to form Hong Kong Exchanges and Clearing Limited ("HKEx"), and the completion of its subsequent public listing in 2000. Subsequently, Ms. Lee became the Head of Listing, Risk Management and Regulation of HKEx and then she served as the Chief Financial Officer overseeing the Finance and Treasury functions of HKEx. Ms. Lee is currently an independent non-executive director of Tianjian Capital Environmental Protection Company Ltd., a company listed on the Hong Kong Stock Exchange and the Shanghai Stock Exchange, and China Blue Chemical Ltd., a public company listed on the Hong Kong Stock Exchange. Ms. Lee is a fellow member of the Institute of Chartered Accountants in England and Wales and an associate member of Hong Kong Institute of Certified Public Accountants. Ms. Lee received a Bachelor of Arts in Accountancy from City of London Polytechnic (currently London Metropolitan University) and a Master of Science in Financial Engineering from City University of Hong Kong.

The results of the proxy submitted for the vote on the election of directors are as follows:

Results of the Proxy submitted for the Vote on the Election of Directors

Director	Votes For	% of Votes For	Votes Withheld	% of Votes Withheld
Sandy Chim	87,002,767	99.97	28,350	0.03
Paul Murphy	86,994,425	99.96	36,692	0.04
Ben Koon (David) Wong	87,002,767	99.97	28,350	0.03
Hua Bai	87,002,767	99.97	28,350	0.03
Maurice Strong	86,862,158	99.81	168,959	0.19
Howard Bernier	87,002,767	99.97	28,350	0.03
Jun Feng	87,002,767	99.97	28,350	0.03
Wei Ke Peng	87,002,767	99.97	28,350	0.03
Jionghui Wang	86,994,767	99.96	36,350	0.04
Kit Ying (Karen) Lee	87,002,767	99.97	28,350	0.03

The Board passed a resolution immediately following the Annual General and Special Meeting pursuant to which Sandy Chim was elected Chairman of the Board and Howard Bernier was elected Lead Director of the Board.

Management Appointments

The Company is pleased to announce the appointment of Denis Frawley and Chun Wa (Ivan) Wong as Co-Secretaries of the Company. In addition to the role of Co-Secretary, Mr. Wong will continue his role as Senior Vice President (Corporate Finance and Project Development) of the Company.

Denis Frawley is currently a partner at Ormston List Frawley LLP and was previously a partner of a leading Canadian law firm, having practiced both in Toronto and in New York. Mr. Frawley practices in the areas of corporate, commercial and securities law, with an emphasis on advising businesses who require securities advice under both Canadian and U.S. law. Mr. Frawley also has significant experience with negotiated acquisitions and secured and unsecured lending. He has experience with a variety of transactions, including securities offerings, purchases and sales of private businesses and divisions of public enterprises, joint ventures, intellectual property licensing and bank lending.

Chun Wa (Ivan) Wong is a Fellow Member of the Association of Chartered Certified Accountants and the Hong Kong Institute of Certified Public Accountants. Mr. Wong's other current appointments are: Member of the Supervisory Board of Maanshan Iron & Steel Co. Ltd., a company listed in Hong Kong and Shanghai, the PRC; and Independent Non-executive Director and Chairman of the Audit Committee of China Zhongwang Holdings Ltd., a company listed in Hong Kong, the PRC.

About Century

Century is an iron exploration and development company and has significant properties in the prolific Labrador Trough in Québec and Newfoundland and Labrador, as well as the James Bay area of Québec. Century has two key strategic partners, WISCO International Resources Development & Investment Limited and Minmetals Exploration & Development (Luxembourg) Limited S.àr.l., 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, the Joyce Lake open pit Direct Shipping Ore ("DSO") project, is a joint venture between the Company and WISCO located close to Schefferville, Québec. Annual DSO production is targeted at two million tonnes per year. A bankable feasibility study is expected to be completed early in 2015.

The Company's mission is to enhance shareholder value through the development of iron projects in Canada and to become a major Canadian iron ore producer. Century's website is: www.centuryiron.com.

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