Mr. Iqbal Kassam, an investor, reports

IQBAL KASSAM ANNOUNCES CHANGE IN HIS BENEFICIAL OWNERSHIP IN NOBLE IRON INC.

Iqbal Kassam has acquired, indirectly through a company controlled by him, 1610488 Ontario Ltd., ownership of 3.5 million common shares of Noble Iron Inc. at $1 per share as part of a private placement by Noble Iron for an aggregate of six million common shares for gross proceeds of $6-million.

As a result of the acquisition, Mr. Kassam owns, directly or indirectly, 13,683,689 common shares of Noble Iron, representing approximately 49.91 per cent of the issued and outstanding common shares of Noble Iron.

The common shares of Noble Iron were acquired for investment purposes. Mr. Kassam's investments will be reviewed on a continuing basis and the holdings may be increased or decreased in the future.