Black Iron Annouces AGM Results

TORONTO, ONTARIO--(Marketwired - May 24, 2013) - Black Iron Inc. ("Black Iron" or the "Company") (TSX:BKI) (FRANKFURT:BIN) reports that the nominees listed in the management proxy circular for the 2013 Annual Meeting of shareholders were elected as directors of the Company with unanimous support from shareholders. Detailed results of the vote for the election of directors held at the Annual Meeting (May 24, 2013) in Toronto are set out below.

Shareholders at the annual meeting also approved the appointment of the Company's auditors.

About Black Iron

Black Iron is an iron ore exploration and development company advancing its 100%-owned Shymanivske project located in Kryviy Rih, Ukraine. This project contains a NI 43-101 compliant resource with 645.8 Mt measured and indicated mineral resources; consisting of 355.1 Mt measured mineral resources at 32.0% iron using a cut off grade of 10% and an indicated resource of 290.7 Mt at 31.1% iron using a cut off grade of 10% iron, and 188.3 Mt of inferred mineral resources grading 30.1% 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.

The technical and scientific contents of this press release have been prepared under the supervision of and have been reviewed and approved by Jim Thompson, P.Eng, Head of Iron Ore Process Development for Forbes & Manhattan, Inc., who is a Qualified Person as defined by NI 43-101. For further information, please see the technical report of the Company, which is available on SEDAR at www.sedar.com.

Forward Looking Information

This press release contains "forward-looking information" which may include, but is not limited to, statements. 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.