Rogue Iron Ore Corp.
TSX VENTURE : RRS

Rogue Iron Ore Corp.

February 01, 2012 08:30 ET

Rogue Iron Ore Appoints Roger Walsh as Strategic Advisor

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 1, 2012) - Rogue Iron Ore Corp. (TSX VENTURE:RRS) (the "Company") is pleased to announce it has appointed Roger Walsh as a strategic advisor to work with management to evaluate opportunities for non-core assets as the Company continues to advance exploration at its Radio Hill Iron Ore Project in Timmins, Ontario.

Roger Walsh has extensive experience and relationships in the international mining and exploration sector and has worked with a wide range of companies on the acquisition, divestment, and joint venturing of mineral properties in numerous jurisdictions.

Mr. Walsh was most recently Vice President Corporate Development for Aurizon Mines and prior to that held a similar Corporate Development role at Jinshan Gold Mines Inc. Prior to joining Jinshan Mr. Walsh spent two years as VP Corporate Development for Ivanhoe Mines Ltd.

Prior to joining Ivanhoe, Mr. Walsh was a founding partner of a corporate advisory firm providing acquisition, divestment and strategic advisory services to the international mining sector.

"We are fortunate to have Roger join our team as we look to add value through strategic partnerships on our non-core assets," commented Company President and CEO, Stephen de Jong. "The Company's focus continues to be the exploration of untested targets as well as the definition of historic iron ore resources at Radio Hill. We will continue to explore the potential of leveraging our other assets to complement this strategy. We are also pleased to announce the launch of our new website which can be viewed at www.rogueiron.com."

The Company is currently assessing the potential of the following assets:

Langmuir Nickel:

  • $7.5 million spent to date on exploration and resource definition
  • High-grade, near surface nickel sulphide deposit (43-101 resource estimate completed June 2010)
  • 14,000 hectare land package staked along favorable stratigraphy
  • Located 35 km southeast of Timmins, Ontario

Timmins West Gold:

  • 12,0000 hectare package along Destor-Porcupine Fault Zone
  • Same geological structure as Lake Shore Gold and Explor Resources' deposits.
  • Airborne survey conducted - numerous unexplored exploration targets

Others Assets:

  • Brinklow Gold Project (Dryden, Ontario)
  • South Porcupine Gold Project (Timmins, Ontario)
  • Bathurst VMS Project, (Bathurst, New Brunswick)
  • Abitibi East VMS Project (Timmins, Ontario)

RADIO HILL EXPLORATION UPDATE:

The Company commenced a 10,000 meter drill program on its Radio Hill Iron Project in August 2011 and has completed 26 holes to date. Initial results for three holes were announced November 30, 2011 and included an 141 meter intersection of 41% total iron. Drilling is ongoing at Radio Hill and the Company expects to announce additional results in the near future.

ABOUT RADIO HILL

The Radio Hill project, located 80 km southwest of Timmins, Ontario, was first developed in the late 1950s and early 1960s by Kukatush Mining Corp. who spent an estimated $10 million in 2011 dollars on exploration and metallurgical work, including 140 drill holes and a number of metallurgical studies. Following resource definition*, a study to determine the feasibility of a mine being put into production was conducted. This study was initiated on the upper portion of the deposit and was deemed encouraging enough that Kukatush laid railway grade from the Canadian National (CN) mainline to the Radio Hill deposit, a distance of approximately 3.5 km. The historical feasibility study conducted by FENCO Ltd. indicated a 3.5 concentration ratio (3.5 tons of iron ore produced 1 ton of concentrate) which would produce a high-grade concentrate of between 66% and 68.5%. At that time recovery and pelletizing tests were also conducted which included both laboratory and pilot testing of grinding, concentrating and pelletizing practices (Neal and Ridell, 1965). This historic metallurgical test work indicated that a commercially acceptable iron concentrate could be produced from Radio Hill mineralized material. These studies also showed the Radio Hill ore to be very low in contaminants.

ABOUT ROGUE RESOURCES

Key milestones expected in the near term are:

  • Results from drilling at Radio Hill Iron Project
  • Completion of Radio Hill resource estimate
  • Announcement of JVs or other partnerships on non-core assets
  • Appointment of key personnel to technical and management teams

ON BEHALF OF THE BOARD OF DIRECTORS

Stephen de Jong, President & CEO

*The historical estimates and feasibility values mentioned in this document are not in accordance with the mineral resources or mineral reserves classifications contained in the CIM Definition Standards on Mineral Resources and Mineral Reserves, as required by National Instrument 43-101 ("NI 43-101"). Accordingly, the Company is not treating these historical estimates as current mineral resources or mineral reserves as defined in NI 43-101 and such historical estimates should not be relied upon. A qualified person has not done sufficient work to date to classify the historical estimates as current mineral resources or mineral reserves. The term "ore" in this document is being used in a descriptive sense for historical accuracy, and is not to be misconstrued as representing current economic viability.

Cautionary Note Regarding Forward Looking Statements: Certain disclosure in this release, including statements regarding the use of the proceeds from the private placement, constitute forward-looking statements. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company, including that the Company is able to obtain any government or other regulatory approvals required to complete the Company's planned exploration activities, that the Company is able to procure personnel, equipment and supplies required for its exploration activities in sufficient quantities and on a timely basis and that actual results of exploration activities are consistent with management's expectations. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors include, among others, that actual results of the Company's exploration activities will be different than those expected by management and that the Company will be unable to obtain or will experience delays in obtaining any required government approvals or be unable to procure required equipment and supplies in sufficient quantities and on a timely basis. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

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