November 13, 2012 08:00 ET
TORONTO, ONTARIO--(Marketwire - Nov. 13, 2012) -
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Century Iron Mines Corporation (TSX:FER) ("Century" or "Century Iron" or the "Company") is pleased to announce that it has filed its consolidated financial statements for the second fiscal quarter ended September 30, 2012 and the related management's discussion and analysis on SEDAR. The Company reports a gain on deemed disposal of a subsidiary of approx. $53.5 million for the quarter and had as at September 30, 2012 cash and cash equivalents of approx. $41.4 million, exploration and evaluation assets of $42.8 million and an investment in the Attikamagen joint venture of $59.5 million. A copy of the financial statements and MD&A are available under Century's SEDAR profile at www.sedar.com.
About the Company
Century Iron is Canada's largest holder of iron ore land claims in a public company, with interests in several properties in the Provinces of Quebec and Newfoundland & Labrador. Century has promising iron ore assets and is firmly entrenched in western Quebec and in the prolific iron ore-producing region of the Labrador Trough in eastern Quebec and western Labrador. The Company has two key strategic partners in WISCO International Resources Development & Investment Limited ('WISCO') and Minmetals Exploration & Development (Luxembourg) Limited S.àr.l., both state-owned Chinese companies with the financial and technical resources to assist the Company with funding and technical expertise for the exploration and development of its iron ore projects.
Century Iron Mines Corporation has interests in mineral exploration projects located in Quebec and Newfoundland & Labrador including:
The Company's objective is to enhance shareholder value through the development of iron ore projects in Canada and to become a major Canadian iron ore producer. Century Iron's website is: www.centuryiron.com.
Century Iron Mines CorporationBob Leshchyshen, MBA, CFAVice-President, Corporate Development & Investor Relations416-977-3188, extension firstname.lastname@example.orgCHF Investor RelationsRobin CookSenior Account Manager416-868-1079 Ext.email@example.com
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