Black Iron Hires Experienced Iron Ore Marketer to Initiate Offtake and Construction Financing Outreach

Black Iron (“Black Iron” or the “Company”) (BKI.TO) is pleased to announce the hiring of Bill Hart as Senior Vice President Corporate Development. Mr. Hart’s main responsibility will be to reach out to his extensive list of relationships with steel mills and trading houses to solicit interest for companies to invest in the construction of Black Iron’s Shymanivske iron ore project pursuant to an offtake or constructing financing arrangement.

Mr. Hart has over 30 years of international experience selling iron ore and coal to steel mills and trading houses while working for companies including Rio Tinto, Cliffs Natural Resources and most recently Roy Hill Holdings Ltd. He speaks fluent Japanese and has exceptional relationships across Asia.

On July 19, 2017, Black Iron announced the engagement of BBA to develop a new National Instrument 43-101 compliant Preliminary Economic Assessment (“PEA”) for the Shymanivske iron ore project (the “Project”). The revised PEA will be based on a plan to initiate operations with an annual production of 4 million tonnes of high-grade 68% iron ore concentrate followed by an expansion to 8 million tonnes per annum.

The results from the PEA are on track to be released later this month followed by the comprehensive report within 45 days of such release.

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