Century Iron Mines Corporation Announces Results of 2013 Annual General and Special Meeting and Management Appointments

TORONTO, ONTARIO--(Marketwired - Sept. 30, 2013) -

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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 2013 Annual General and Special Meeting of shareholders held on September 26, 2013. Sandy Chim, (President & CEO), Ben Koon (David) Wong, Maurice Strong, Howard Bernier, Paul Murphy, Hua Bai, Yi Jun Kuang, Wei Ke Peng and Jionghui Wang were elected to the Company's board of directors.

The detailed results of the proxies submitted for the vote on the election of directors are as displayed in the table below. The final voting results on each of the other items of business and respective resolutions have been filed on SEDAR.

Results of Proxies Submitted for the Vote on the Election of Directors

Director	Votes For	% of Votes For	Votes Withheld	% of Votes Withheld
Sandy Chim	81,145,587	100.00%	NIL	00.00%
Ben Koon (David) Wong	81,138,227	99.99%	7,410	0.01%
Maurice Strong	81,052,490	99.89%	93,147	0.11%
Howard Bernier	81,138,227	99.99%	7,410	0.01%
Paul Murphy	81,138,227	99.99%	7,410	0.01%
Hua Bai	81,138,227	99.99%	7,410	0.01%
Yi Jun Kuang	81,138,227	99.99%	7,410	0.01%
Wei Ke Peng	81,138,227	99.99%	7,410	0.01%
Jionghui Wang	81,138,227	99.99%	7,410	0.01%

PricewaterhouseCoopers LLP have been re-appointed as auditors of the Company. The shareholders approved the amendments to the Company's stock option plan which has been renamed the "Equity Incentive Plan". The principal purpose of these amendments is to allow the Company to grant other forms of equity-based incentive compensation, in addition to stock options, as part of compensation to employees, directors and consultants of the Company.

In addition, shareholders approved the removal of the insider participation limit to provide the Company with sufficient flexibility to use equity-based incentive compensation awards as part of its compensation strategy for all levels of management.

Shareholders also approved amendments to the Company's By-Law No. 1 so as to modify the rule regarding the number of directors that must be present in order for a quorum to be established at a board meeting to facilitate the on-going conduct of the board in circumstances where less than a majority of board members are present.

The board of directors passed a resolution immediately following the Annual General and Special Meeting pursuant to which Mr. Sandy Chim was elected Chairman of the board of directors of Century Iron and Mr. Paul Murphy, Lead Director.

Management Appointments

Century Iron is pleased to announce the appointment of Rebecca Ng, CPA, CA, as Chief Financial Officer (CFO) of the Company, and the appointment of Ivan Wong, formerly the CFO, as Senior Vice President, Corporate Finance and Project Development of the Company.

Ms. Ng is a seasoned finance executive and leader in the global mining industry. Ms. Ng has over 12 years of extensive experience in finance, controllership, governance and reporting in various multi-national mining companies with significant expertise in finance integration, restructuring and capital management. Most recently Ms. Ng was the Financial Controller at Xstrata Nickel from 2006 to 2013, before the merger with Glencore International plc in May 2013. Prior to that, Ms. Ng was Group Controller with Noranda Inc. and Falconbridge Limited before their acquisition by Xstrata in 2006. Ms. Ng received a Bachelor of Arts degree from the University of Hong Kong and was qualified as a Chartered Accountant in Ontario. She is a member of the Institute of Chartered Accountants of Ontario since 2000.

Mr. Wong, CPA, has over 17 years of knowledge and experience in professional auditing, accounting, corporate finance and advisory services. Mr. Wong worked for KPMG and Ernst & Young. He held positions as Financial Controller and Company Secretary of a Hong Kong listed company. His other current appointments include Supervisor of Maanshan Iron & Steel Company Limited, 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 Limited, a company listed in Hong Kong, the PRC. Mr. Wong graduated with a Bachelor of Arts (Honours) Degree in Accountancy from the Hong Kong Polytechnic University. He is a Fellow Member of the Association of Chartered Certified Accountants and the Hong Kong Institute of Certified Public Accountants.

About Century

Century is an exploration and development company of iron projects in Canada. The Company has significant interests in several properties in western Québec and in the prolific iron ore-producing region of the Labrador Trough in eastern Québec and western Newfoundland and Labrador. Century has two key strategic partners, 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 projects.

Century has interests in the following mineral exploration projects located in the Provinces of Québec and Newfoundland and Labrador:

• The Attikamagen Project ("Attikamagen") in which Labec Century Iron Ore Inc. ("Labec Century") has a registered 56% interest and in which it has requested a further 4% interest under the Attikamagen Joint Venture Agreement with Champion Iron Mines Limited ("Champion"). Champion is completing its due diligence investigations with respect to the transfer of the 4% interest. Labec Century is a joint venture company owned by Century and WISCO. The Joyce Lake Deposit of Attikamagen is in the development stage and is the most advanced of all deposits with a NI 43-101 compliant resource estimate and preliminary economic assessment completed;
  
  
• The Sunny Lake Project, which is a joint venture between Century and WISCO under the Sunny Lake Joint Venture Agreement;
  
  
• The Duncan Lake Project in which Century currently has earned a 65% interest under an option and joint venture agreement with Augyva Mining Resources Inc. (TSX VENTURE:AUV). Century has entered into a Joint Venture Framework Agreement with WISCO pursuant to which WISCO may earn a 40% joint venture interest in the Duncan Lake Project; and
  
  
• The Astray, Grenville, Menihek and Schefferville projects acquired from Altius Minerals Corp. (TSX:ALS) (100% owned by the Company). These projects are 100% owned by Century, except that Century has sold 80% of its interest in part of the Astray project and retained a 20% interest.
  
  

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 Iron's website is: www.centuryiron.com.

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