Rogue Resources Inc.
TSX VENTURE : RRS

Rogue Resources Inc.

February 13, 2012 07:30 ET

Rogue Iron Ore Intersects 171 Meters of 42% Total Iron

- OTHER HIGHLIGHTS INCLUDE 164 METERS OF 37.9% TOTAL IRON (RH-11-06)

- CENTRAL PORTION OF IRON FORMATION NOW BEING TESTED IN PHASE 2 DRILLING

- 10,000 METER DRILL PROGRAM UNDERWAY - NO SEASONAL DRILLING CONTSRAINTS ON PROJECT

- DRILLING FOCUSED ON RADIO HILL IRON FORMATION - PROPERTY ALSO CONTAINS 12KM LONG NAT RIVER IRON FORMATION

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 13, 2012) - Rogue Resources Inc. (TSX VENTURE:RRS) (the "Company") is pleased to announce the second set of results from its recently completed Phase I drilling at its Radio Hill Iron Ore project located 80 km southwest of Timmins, Ontario. Phase II drilling has commenced with both phases expected to comprise about 10,000 m culminating with a 43-101 compliant resource estimate expected in the spring. Mineralization at Radio Hill comes to surface and the iron formation forms a hill rising approximately 200 feet above the surrounding terrain, an advantage in open pit mining.

"We continue to be pleased by the robust grades and widths early in the first phase of our drill program," commented Company President and CEO, Stephen de Jong. "These results have given us a good indication of the southern limit of the Radio Hill iron formation. We are now focusing on the central portion where iron mineralization is known to have been thickened by folding. This should have a positive impact on our results and suggests the potential for even greater widths. Given the infrastructure advantages we have with rail, power and a highway in the immediate vicinity these results are even more impressive and demonstrate the high potential of developing a strong project."

Table 1: Radio Hill Phase One Drilling
Hole # From (m) To (m) Core interval
(m)
Total Iron %
(Fe2O3)
DTWR %
RH-11-02 12.0 66.0 54.0 46.65 34.11
RH-11-03 10.0 39.0 29.0 40.47 27.96
and 120.6 152.9 32.3 43.45 28.45
and 213.9 231 17.1 47.32 40.33
and 292.3 333.6 41.3 46.16 39.35
RH-11-04 117.0 143.6 26.6 42.11 25.59
RH-11-05 195.0 230.0 45.0 36.47 26.16
and 283.4 303.0 19.6 44.74 38.95
RH-11-06 96.1 260.2 164.1 37.89 26.26
RH-11-07 71.5 84.1 12.6 43.17 24.93
and 153.0 210.0 57.0 46.08 37.50
RH-11-08 29.9 78.0 48.2 40.82 28.31
RH-11-10 9.0 180.1 171.1 42.15 29.58
Davis Tube Weight Recovery% (DTWR%) is calculated whereas, DTWR=1.546(Satmagan) - 0.858.
Core intervals lengths are between 60 to 80% true width.

To view geological and geophysical maps of the Radio Hill Project including the Nat River Iron Formation please click on the following link:

http://media3.marketwire.com/docs/RadioHill_figs.pdf

As of February 8, 2012, the Company has completed 26 holes at Radio Hill for a total of 6,165 meters. Results for 10 holes have been announced so far. The first phase of drilling tested the geological constraints along the southern boundary whereas current drilling is being conducted on the thicker northern portions of the historical iron ore deposit resource*. The Radio Hill Iron Formation is thickened by isoclinal folding and dips steeply to the north. Drill samples have been submitted on a weekly basis since September such that a steady flow of results is expected into the spring.

The outcome of the current drill program will be a NI 43-101 compliant resource estimate. Results to date appear to be consistent with historical work and are now being incorporated with historical data to create an internal resource model. As the analyses previously used to calculate iron content does not allow for a correlation with current assay results, coupled with the fact that historic drill core does not exist, the NI 43-101 compliant resource estimate will likely be comprised entirely of new drill data from the current 10,000 meter program.

The Radio Hill property is transected by a heavy gauge portion of the CN Rail mainline at the active Kukatush rail siding. There is power and water in the immediate vicinity and Highway 101 to Timmins is located only 8 km by road to the north of the present drilling. In addition to the 5 km strike length of the Radio Hill formation, the property contains a 12 km long magnetic feature known as the Nat River Iron Formation, which is easily identified in both Company geophysical and Government geological maps. The Nat River Iron Formation has not been explored aside from 6 diamond drill holes in a concentrated area in 1960.

* 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.

RECENT NEWS:

January 23, 2012: the Company changed its name from Rogue Resources Inc. to Rogue Iron Ore Corp. to better reflect its primary focus. The Company's TSX Venture stock symbol has remained the same (RRS). The Company also launched an updated website which includes current information on Radio Hill including a Google Map highlighting the projects advantageous location and proximity to infrastructure.

February 2, 2012: the Company announced it had appointed Roger Walsh as a strategic advisor to the Company to help assess and explore various scenarios for both Radio Hill and the Company's non-core assets, including its Langmuir Nickel Project.

HISTORICAL WORK AT RADIO HILL

The values, estimates, and quotes referenced below and in the section HISTORICAL WORK AT RADIO HILL are used by the Company to provide a target range and help guide exploration and are stated here for information purposes to inform the reader why the Company is interested in the area and should not be relied upon. Accordingly these rough estimates should not be relied upon for making investment decisions. Significant work needs to be completed by the Company prior to any publication of known resources or concentration characteristics of mineralized material at Radio Hill.

The Radio Hill project 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. 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). Historical metallurgical work (shown below) indicated material from Radio Hill could be concentrated to a high-grade, high quality concentrate with minimal residual deleterious elements. As background information for the reader, iron's benchmark price is commonly set using a 62% Fe concentrate with recent premiums for higher grade concentrations approximately $4 for every 1% higher than 62%, and even higher increases above the 65% level. Although the rail bed was laid the 3.5km from the railway to Radio Hill, the project never advanced through to production due to weak iron prices.

To help guide exploration strategies at Radio Hill formation the Company has used the historic resource of 427 million tons of 27.3% iron (Gerson 1961) as a potential target. It is important to note the 27.3% iron refers to acid-soluble iron content and not total iron content.

Highlights from historical reports at Radio Hill:

Radio Hill Formation (Group): "The potential of this group is estimated at one billion tons." (Gerson 1961, pg2 - reference to a 7,000 foot portion of the 3 mile (4.8 km) Radio Hill Iron Formation after the completion of 52,592 feet of diamond drilling, mapping, geophysical work and a 3,000 ton bulk sample and the Nat River Formation mentioned below.)
Nat River Formation: "The potential of the magnetite bands as indicated by the ground magnometer survey is estimated at 30,000,000 gross tons of crude ore for every 100 feet of depth." (Gerson 1961, pg3, pg57 - reference to 2500 foot section of the 7.4 mile (12 km) Nat River Iron Formation after the completion of 4,053 feet of diamond drilling.

Given the Radio Hill formation is known to extend below 1200 feet in depth, the tonnage potential for Nat River remains a potential addition to the overall project and could possibly augment future resources at Radio Hill. The entire property had an airborne VTEM and Mag survey completed in 2008 including the Nat River in which both formations are clearly defined. Aside from the airborne survey the Nat River iron formation has not seen any modern day iron exploration.

QUALITY CONTROL AND ASSURANCE

All drill core samples have been split and shipped by the Company to SGS Lakefield, where the samples are prepared and analyzed by fusion with lithium tetraborate-XRF for SiO2, Al2O3, CaO, Fe2O3, K2O, MgO, TiO2, P, Mn and Cr2O3 and retained moisture (LOI) by multi-temperature. Satmagan readings are done on each sample. A magnetite concentrate is produced using Davis Tube concentrator (DT) giving a weight recovery percentage (DTWR). The concentrate is then analysed by fusion with lithium tetraborate-XRF for SiO2, Al2O3, CaO, Fe2O3, K2O, MgO, TiO2, P, Mn and Cr2O3 and retained moisture (LOI) by multi-temperature. The company inserts systematic duplicates, blanks and standard samples every 30 samples to verify and assure acceptable consistency of analysis. SGS labs are an internationally recognized leader in iron ore analysis. Kevin Montgomery, P.Geo. is the qualified person for the purposes of National Instrument 43-101 and has reviewed the technical contents of this press release.

ABOUT ROGUE IRON ORE CORP.

Rogue Iron Ore is an iron exploration and development company with offices in Vancouver BC, and Timmins, ON. The Company's primary asset is its Radio Hill Iron Project located 85km southwest of Timmins, Ontario.

Key Company milestones expected in the near term are:

  • Ongoing 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

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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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