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Black Iron Files Favourable Preliminary Economic Assessment

Dec 22, 2020 Full mineral resource details can be found in the NI 43-101 compliant technical report entitled Preliminary Economic Assessment of the Re-scoped Shymanivske Iron Ore Deposit effective November 21, 2017 under the Company's profile on SEDAR at www.sedar.com.

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Jun 23, 2020 READ: Black Iron raising C$1.8 million to advance Shymanivske iron ore project through to construction. A preliminary economic assessment (PEA) estimated an after-tax unlevered internal rate of return (IRR) of 34% and net present value of US$1.4 billion using a 10% discount rate.

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Nov 14, 2019 Black Iron's Preliminary Economic Assessment incorporates a reasonable amount of money, based on benchmarks of land value and precedent transactions, for the compensation to be paid to the Ministry of Defense within the US$436 million estimated costs to construct its first phase 4 million tonnes per annum of production.

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