Ms. Michelle McAuliffe reports

NEVADA IRON ANNOUNCES FIRST PASS DRILLING RESULTS FROM SECTION 27 INDICATE BROAD IRON MINERALISATION FROM SURFACE WITH HIGH GRADE CORE-AMENDED

Nevada Iron Ltd. is releasing drill results from its first-pass drill program over the Section 27 prospect at the Buena Vista iron project in Nevada, United States. Section 27 is located approximately 5.1 kilometres to the northeast of the proposed processing plant and 3.5 kilometres to the northeast of the proposed primary crusher location at the Section 5 pit.

Ground mapping over the Section 27 prospect has identified an area 800 metres long by an average width of 180 metres wide, with an extensive magnetite surface float. The first phase of drilling has covered approximately 60 per cent of the strike length and indicates that the mineralization is open to both the north and south, and at depth.

Results include:

• 33.5 metres grading 20.1 per cent total iron in hole 2714-002;
• 76 metres grading 22 per cent total Fe in hole 2714-003, including 9.7 metres grading 52.1 per cent total Fe;
• 30.4 metres grading 21.9 per cent total Fe in hole 2714-004;
• 80.8 metres grading 23.4 per cent total Fe in hole 2714-006, including 6.5 metres grading 51.8 per cent total Fe and 3.2 metres grading 60 per cent total Fe;
• 73.1 metres grading 20.0 per cent total Fe in hole 2714-009.