Rogue Iron Ore Corp.
TSX VENTURE : RRS

January 23, 2012 08:00 ET

Rogue Resources Changes Name to Rogue Iron Ore Corp.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 23, 2012) - Rogue Resources Inc. (TSX VENTURE:RRS) (the "Company") announces it has changed its name to ROGUE IRON ORE CORP. At the opening of market of Monday, January 23, 2011, the Company's shares will commence trading under the new name. The Company's trading symbol will remain the same (TSX VENTURE:RRS).

The Company also announces its new website, www.rogueiron.com, is in the final stage and is expected to go live on Wednesday, January 24, 2011.

"The new name is consistent with the Company's mandate to focus on its iron ore project as the Company seeks strategic partners for other non-core assets," commented Company CEO, Stephen de Jong. "There are a number of changes taking place within the Company which we will be announcing in the near future in conjunction with results from the past four months of drilling at Radio Hill."

Exploration Update:

A 10,000 meter diamond drill program is currently underway at the Company's Radio Hill Iron Ore Project with the objective of upgrading historic resource estimates to NI 43-101 compliancy. 24 holes of the program have been completed to date. Results from the first three holes have been announced and included a 141 meter intersection of 41% total iron (news release November 30, 2011).

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 Radio Hill could 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). These studies also showed the Radio Hill ore to be very low in contaminants.

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.

ABOUT ROGUE IRON ORE CORP.

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

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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