Black Iron to Release Bankable Feasabilty Study for the

Black Iron to Release Bankable Feasabilty Study for the Shymanivske
Iron Ore Project and Host Conference Call on November 15, 2012 
TORONTO, ONTARIO -- (Marketwire) -- 11/08/12 -- Black Iron Inc.
("Black Iron" or the "Company") (TSX:BKI)(FRANKFURT:BIN) plans to
release the initial results of its Bankable Feasibility Study ("BFS")
for its wholly- owned Shymanivske Iron Ore Project in Kriyviy Rih,
Ukraine prior to market open on November 15, 2012.  
The BFS represents the fourth significant milestone delivered on time
by Black Iron since the Company's initial public offering in March
2011. The Company continues to advance its Shymanivske Project and
remains on track within its planned development schedule for
anticipated construction completion in the second half of fiscal
Following the release of the BFS, there will be an analyst and
shareholder conference call with webcast at 8:00am EST on the same
day. To participate in the call please dial the following: 

     International:                +1 416 340 8527     
     Toll Free North America:      1 877 240 9772      

To register and listen to the webcast of the call, please go to Black
Iron's website at 
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 using a cut off
grade of 10% magnetite iron; consisting of 355.1 Mt measured mineral
resources grading 32.0% iron, an indicated resource of 290.7 Mt
grading 31.1% 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 or write us at for more
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 
Forward Looking Information 
This press release contains "forward-looking information" which may
include, but is not limited to, statements with respect to the timing
of delivery of the BFS and its conclusions, the development potential
of the Company and its projects, the timing and amount of future
exploration and development of the project, receipt of necessary
approvals, 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.
Black Iron Inc.
Michael McAllister
Manager, Investor Relations
+1 (416) 309-2950 
Black Iron Inc.
Matt Simpson
President & Chief Executive Officer
+1 (416) 309-2138
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