Black Iron Strengthens International Profile by Retaining Larry King as a Special Advisor

TORONTO, ONTARIO--(Marketwire - Nov. 28, 2011) - Black Iron Inc. ("Black Iron" or the "Company") (TSX:BKI)(FRANKFURT:BIN) is pleased to announce that it has retained the services of Mr. Larry King, an internationally recognized media host, to provide international advisory and awareness services.

Mr. King, who recently retired from his post with CNN after 25 years as the host of "Larry King Live", is recognized internationally as one of the premier broadcast interviewers. He has won an Emmy Award, two Peabody Awards and ten Cable ACE Awards for work that has been syndicated across the globe. Mr. King has interviewed prominent athletes, actors, writers, politicians and foreign dignitaries, including a number of memorable interviews with Ukrainian and Russian officials.

Matt Simpson, President and Chief Executive Officer of Black Iron commented, "We are very excited to have Larry King join the Black Iron team to help augment our international profile. Larry will provide valuable insight into international affairs, but more importantly, he brings an extensive network of relationships both in Ukraine and abroad. Larry's connections and experience will help Black Iron on many fronts, including raising the profile of Ukraine and Black Iron's project as attractive investment opportunities."

About Black Iron

Black Iron is an iron ore exploration and development company advancing its 100%-owned Shymanivske project located in Krivoy Rog, Ukraine. This project contains a NI 43-101 compliant resource with 345 Mt measured and indicated resources grading 32% iron and 469 Mt of inferred resources grading 31% iron. The project is surrounded by five other operating mines including ArcelorMittal's iron ore complex. The Company believes that existing infrastructure, including access to power, rail and port facilities, will allow for a quick development timeline to production. Further, the Company holds an exploration permit for the adjacent Zelenivske project which it intends to further explore to determine its potential. Please visit the Company's website at www.blackiron.com or write us at info@blackiron.com for more information.

Forward Looking Information

This press release contains "forward-looking information" which may include, but is not limited to, statements with respect to the consequences of the engagement and its effect on the Company's international profile and the future financial or operating performance of the Company and its projects. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "believes" or variations (including negative variations) of such words and phrases, or by the use of words or phrases that state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.

Forward-looking information are based on certain assumptions and analyses made by the Company based on known facts at the time. Forward-looking information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company and/or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained in this press release, including, without limitation those described in the Company's public disclosure documents which may be found under the Company's profile on SEDAR. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in such forward-looking information, there may be other factors that may cause actions, events or results to differ from those anticipated, estimated or intended. Should one or more of these risks or uncertainties materialize or should assumptions underlying such forward-looking information prove incorrect, actual results, performance or achievements may vary materially from those expressed or implied by the forward-looking information contained in this press release. The forward-looking information contained herein are made as of the date of this press release and the Company disclaims any obligation to update or review such information or statements, whether as a result of new information, future events or results of otherwise, except as required by law.