IronOne Inc.

IronOne Inc.

August 15, 2011 10:05 ET

IronOne Inc. Announces the Appointment of Senior Officers

TORONTO, ONTARIO--(Marketwire - Aug. 15, 2011) - IronOne Inc. ("IronOne" or the "Company") is pleased to announce the appointment of Craig MacDougall as President and Chief Executive Officer of the Company, effective July 1, 2011 and Paolo De Luca as Chief Financial Officer of the Company, effective September 1, 2011. Mr. Paul Sobie, a founder of the Company and President of MPH Consulting Limited, will continue to act as Director of Exploration for IronOne.

Mr. MacDougall is a professional geologist with 25 years of experience in the mining and exploration industry, including both senior international and junior mining companies. His experience includes exploration for precious and base metals from early stage, "grass roots" to advanced project evaluations, deposit delineations and pre-feasibility studies throughout Canada, Australia and Africa.

For the past 4 years, Mr. MacDougall served as President and CEO of TSX Venture listed Continental Nickel Limited ("Continental") during which time Continental implemented exploration programs leading to the discovery and delineation of NI 43-101 compliant mineral resources at a number of nickel-copper sulphide deposits in southern Tanzania.

Prior to that, he spent 19 years with the Falconbridge/Noranda Group (now Xstrata PLC) rising to progressively senior management roles where he had responsibility for international exploration teams that achieved a number of notable successes including: the discovery and delineation of a major new nickel-copper sulphide deposit at the Kabanga Nickel Project in Tanzania; delineation of a major resource expansion on an advanced copper-gold porphyry deposit in Papua New Guinea (currently undergoing a feasibility study by Xstrata Copper); and the discovery and delineation of significant new mineral resources with completion of a feasibility study and permitting on a lead-zinc-silver deposit in Australia (for which a US $239 million development decision was recently announced by Xstrata Zinc on July 26, 2011).

Mr. De Luca is a Chartered Financial Analyst and Chartered Accountant with over 15 years of financial experience in corporate and capital market environments in Canada and overseas. His wide ranging corporate experience includes the provision of corporate financial services at an executive officer level, senior audit and risk assessment roles, investor relations and capital raisings. Up to 2010, he held the position of Chief Financial Officer at C.A. Bancorp, a merchant bank and alternative asset manager with $500 million in capital invested and under management. More recently he held the position of Investor Relations at a Toronto based hedge fund with over $2 Billion in assets under management.

Mr. Paul Sobie, Director of Exploration commented: "We are very pleased to have attracted such high calibre and accomplished senior officers to the Company and this is an important milestone in the evolution and growth of IronOne. With senior management now in place, the Company will focus on implementing its 2011 exploration programs at its Maguse River and Lac Virot Iron Projects located in Nunavut and Labrador, respectively".

About IronOne

IronOne Inc. is a private exploration company based in Toronto, Canada that is focused on the exploration, discovery and development of the next generation of iron ore deposits in Canada. The Company's key asset is its 100% interest in the 1,800 square kilometre Maguse River Iron Project in coastal Nunavut, near Arviat, which covers some 200 kilometres of iron formation stratigraphy. The Company plans to complete a 6,000 metre diamond drill program to explore prioritized targets with the goal of identifying a new Iron Ore district.

The Company also has an option to earn a 100% interest in the Lac Virot Iron Project located in the prolific Labrador Trough, near Wabush, Labrador, and adjacent to the Iron Ore Company of Canada's Carol Lake iron ore mining operation.

On behalf of IronOne Inc.

Craig MacDougall, President & Chief Executive Officer

Contact Information

  • IronOne Inc.
    Craig MacDougall
    President & CEO
    +1 (647) 931-7112
    +1 (416) 362-7360 (FAX)