BKI Black Iron Inc

Black Iron Inc. ("Black Iron" or the "Company") (TSX:BKI)(FRANKFURT:BIN) plans
to release the results of its Current Bankable Feasibility Study ("BFS") for its
wholly- owned Shymanivske Iron Ore Project in Kriyviy Rih, Ukraine prior to
market open on January 23, 2014. 


Black Iron continues to advance its Shymanivske Project and de-risk its pathway
to production. As previously announced in September and October 2013 and earlier
this month, the Company recently secured access to all three major
infrastructure requirements for a successful iron ore producer including: 20
million tonnes per annum of rail capacity; 140 megawatts of power; and more than
9.5 million tonnes per annum of port capacity. In addition, as announced earlier
in January, Black Iron has obtained all regulatory approvals to complete its
strategic development arrangement with Metinvest B.V., Ukraine's largest company
and a top 10 iron ore producer globally, a partnership that will provide
significant capital and resources towards development of the Project. This
strategic arrangement was originally announced on July 23, 2013 and is expected
to close within two months. 


Following the release of the BFS, there will be an analyst and shareholder
conference call with webcast at 8:30am EST on the same day. To participate in
the call please dial the following:


International: +1 647 788 4901 

Toll Free North America: 1 877 201 0168 

To register and listen to the webcast of the call, please go visit Black Iron's
website at www.blackiron.com.


About Black Iron

Black Iron is an iron ore exploration and development company, advancing its 100
percent-owned Shymanivske project located in Kryviy Rih, Ukraine. This project
contains an NI 43-101 compliant resource, with 645.8 Mt Measured and Indicated
mineral resources, consisting of 355.1 Mt Measured mineral resources grading
32.0% Total iron and 19.5% Magnetic iron, and Indicated mineral resources of
290.7 Mt grading 31.1% Total iron and 17.9% Magnetic iron, using a cut-off grade
of 10% Magnetic iron. Additionally, the project contains 188.3 Mt of Inferred
mineral resources grading 30.1% Total iron and 18.4% Magnetic 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, follow us on
Facebook: BlackIronInc or Twitter: @BlackIronBKI 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 Matt Simpson,
P.Eng, President and CEO of Black Iron 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 with respect to the timing of delivery of the
Updated 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Black Iron Inc.
Michael McAllister
Manager, Investor Relations
+1 (416) 309-2950
info@blackiron.com


Black Iron Inc.
Matt Simpson
President & Chief Executive Officer
+1 (416) 309-2138
www.blackiron.com

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