Century Files Technical Report for Mineral Resources Statement for Black Bird DSO Deposit
TORONTO, ONTARIO--(Marketwired - Apr 15, 2015) - Century Iron Mines Corp. ("Century" or "Century Iron" or the "Company") (TSX:FER) announced today the filing of a technical report pursuant to National Instrument 43-101 ("Report") to support the initial mineral resources estimate for the Company's Black Bird Direct Shipping Ore ("DSO") Deposit (the "Deposit"). The Mineral Resource Statement in the technical report is consistent with the statement disclosed in the news release dated March 2, 2015. The date of the Report is April 14, 2015 and a copy of the Report is available under Century's SEDAR profile at www.sedar.com and will be posted on Century's website at www.centuryiron.com. The Black Bird DSO Deposit is located 65 kilometres northwest of Schefferville, in Québec and approximately 50 kilometres from the Joyce Lake DSO Project in Labrador, for which a technical report summarizing a feasibility study is concurrently filed on SEDAR. The Black Bird Deposit is part of the Sunny Lake Properties in which Century has a joint venture interest of 81.4% and WISCO International Resources Development & Investment Limited ("WISCO") has 18.6% interest. The Mineral Resource Statement was prepared by SRK Consulting (Canada) Inc. of Toronto, Ontario.
About Century
Century is an iron exploration and development company and has significant properties in the prolific Labrador Trough in Québec and Newfoundland and Labrador, as well as the James Bay area of Québec. Century has two key strategic partners, WISCO and Minmetals Exploration & Development (Luxembourg) Limited S.àr.l., both Chinese state-owned enterprises. Each provides financial resources and technical expertise to assist the Company in advancing its projects.
Century's most advanced project is the Joyce Lake open pit DSO project, a joint venture with WISCO located close to Schefferville, Québec. It is planned as a 2.5million tonne per annum direct shipping iron ore project. The NI-43101 compliant technical report for a feasibility study is being released concurrently with this press release.
The Company's mission is to create shareholder value through the efficient allocation of capital resources. In addition to its strategic joint venture with WISCO to develop its iron ore resources, Century is also committed to exploring and capitalizing on strategic opportunities outside of the iron ore market to create additional shareholder value. Century's website is: www.centuryiron.com.
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. All statements, other than statements of historical fact, included herein including, without limitation; statements about future exploration and development of and production from the Joyce Lake DSO Project, and the future exploration and development of the Black Bird DSO deposit are forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration and development; the possibility that the test work may not be demonstrated on a larger scale; the need for permits; fluctuations in commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the potential for conflicts of interest among certain officers, directors or promoters with certain other projects; the inability to conclude contracts for rail, port and power infrastructure; disputes with First Nations groups; the absence of dividends; competition; dilution; the volatility of our common share price and volume and the additional risks identified in the "Risk Factors" section of the Company's Annual Information Form for the year ended March 31, 2014, other reports and filings with the Toronto Stock Exchange (TSX) and applicable Canadian securities regulations. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and Century Iron Mines Corp. undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.
Contact
Century Iron Mines Corp.
Bob Leshchyshen, MBA, CFA
Vice-President, Corporate Development & Investor Relations
416-977-3188, ext. 109
bob.leshchyshen@centuryiron.com
www.centuryiron.com
CHF Investor Relations
Robin Cook
Senior Account Manager
416-868-1079, ext. 228
robin@chfir.com
