Mr. David Deitz reports

CENTRAL IRON ORE ANNOUNCES PRIVATE PLACEMENT

Central Iron Ore Ltd. has arranged a non-brokered private placement financing for gross proceeds of up to $216,046.22 through the issuance of up to 3,000,642 units at a price of 7.2 cents per unit.

Each unit shall consist of one ordinary share in the capital of the company and one ordinary share purchase warrant. Each warrant shall entitle the holder thereof to purchase one ordinary share at a price of 12 cents per ordinary share until Oct. 15, 2030.

Gross proceeds raised from the offering will be used for contribution to the company's South Darlot joint venture, drilling at the company's British King mine area, and for corporate and general working capital purposes.

Closing of the offering is subject to receipt of all necessary corporate and regulatory approvals, including the approval of TSX Venture Exchange. All securities issued in connection with the offering will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation.

We seek Safe Harbor.