RRS Rogue Resources Inc

NOT FOR DISSEMINATION TO THE UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN
THE UNITED STATES


Rogue Iron Ore Corp. (TSX VENTURE:RRS) (the "Company") is pleased to announce a
non-brokered private placement (the "Private Placement") to raise up to $545,000
through the issuance of up to 4.96 million subscription receipts ("Subscription
Receipts") at a price of $0.11 per Subscription Receipt (the "Subscription
Price"). Each Subscription Receipt represents the right to receive on
conversion, automatically and for no further consideration at the Conversion
Date (as defined below), one (1) flow-through share (as defined in the Income
Tax Act (Canada)) in the capital of the Company (a "FT Common Share") and
one-half of one (0.5) non flow-through, non-transferable share purchase warrant
(a "Warrant"). Each whole Warrant will entitle the subscriber, upon exercise, to
purchase one common share in the capital of the Company (a "Common Share") at a
price of $0.15 up to and including the day that is eighteen (18) months
following the Conversion Date (the "Warrant Expiry Date").


Subscription proceeds will be held in escrow by Computershare Trust Company of
Canada (the "Escrow Receipt Agent") until the Conversion Date. At the earlier of
(i) the business day following closing of the spin-out by the Company of its
shareholdings in Rapier Gold Inc. ("Rapier") pursuant to a plan of arrangement
between the Company and Rapier or (ii) December 21, 2012 (whichever is first to
occur being the "Conversion Date"), each Subscription Receipt shall be released
from escrow to the subscribers and shall automatically convert to FT Common
Shares and Warrants and the subscription proceeds shall be released from escrow
to the Company.


In connection with the Private Placement, the Corporation shall pay Marquest
Asset Management Inc. a finder's fee comprised of (i) a cash fee equal to seven
percent (7%) of the gross subscription proceeds, and (ii) broker warrants
("Broker Warrants") entitling Marquest, upon exercise of the Broker Warrants, to
purchase, in aggregate, Common Shares equal to seven percent (7.0%) of the
number of FT Common Shares sold pursuant to the Private Placement. Such Broker
Warrants shall be exercisable at a price of $0.15 per Common Share until the
Warrant Expiry Date.


In compliance with Canadian securities laws and the rules of the TSX Venture
Exchange, (i) the FT Common Shares, the Warrants and the Broker Warrants will be
subject to a hold period of four (4) months following the Conversion Date, and
(ii) the Common Shares underlying the Broker Warrants will be subject to a four
(4) month hold period following their issuance upon exercise of the Broker
Warrants.


The Private Placement and any modifications thereto are subject to compliance
with applicable securities laws and to receipt of the approval of the TSX
Venture Exchange. The subscription proceeds from the Private Placement shall be
used to fund exploration expenditures on the Company's Canadian mineral projects
(primarily the Company's Radio Hill property) and will qualify as Canadian
exploration expenses (as defined in the Income Tax Act (Canada)).


The Company reserves the right to increase the size of the private placement or
to modify the type, nature and/or price of the units for any reason.


ABOUT ROGUE IRON ORE CORP.

Rogue Iron Ore Corp. is an exploration and development company with offices in
Vancouver, BC and Timmins, ON. The Company's primary asset is its Radio Hill
iron ore project located 80 km southwest of Timmins, ON.


KEY COMPANY MILESTONES



--  Further announcements of additional completed phases of Radio Hill
    metallurgical results 
--  National Instrument 43-101 compliant resource estimate completion,
    following metallurgical study 
--  Spinout of gold company, Rapier Gold Inc., to capitalize on Rio Tinto
    gold discovery (visible gold in 11 separate drill intervals) in Abitibi
    area, Porcupine-Destor Deformation Zone near Timmins, Ontario. 
--  Announcement of additional joint ventures or other partnerships on non-
    core assets.



ON BEHALF OF THE BOARD OF DIRECTORS

Freeman Smith, President & CEO

Follow Rogue Iron Ore Corp. On:

Facebook: http://www.facebook.com/rogueiron

Twitter: http://twitter.com/rogueiron 

This news release does not constitute an offer to sell or a solicitation of an
offer to buy nor shall there be any sale of any of the common shares in any
jurisdiction in which such offer, solicitation or sale would be unlawful. The
common shares have not been and will not be registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act") or the securities
laws of any state of the United States and may not be offered or sold within the
United States or to, or for the account or the benefit of, any person in the
United States unless registered under the U.S. Securities Act and applicable
state securities laws or pursuant to an exemption from such registration
requirements.


Cautionary Note Regarding Forward-Looking Statements: Certain disclosure in this
release constitutes forward-looking statements. In making the forward-looking
statements in this release, the Company has applied certain factors and
assumptions that are based on the Company's current beliefs as well as
assumptions made by and information currently available to the Company,
including that the Company is able to obtain any government or other regulatory
approvals required to complete the Company's planned exploration activities or
the Private Placement, that the Company is able to procure personnel, equipment
and supplies required for its exploration activities in sufficient quantities
and on a timely basis and that actual results of exploration activities are
consistent with management's expectations. Although the Company considers these
assumptions to be reasonable based on information currently available to it,
they may prove to be incorrect, and the forward-looking statements in this
release are subject to numerous risks, uncertainties and other factors that may
cause future results to differ materially from those expressed or implied in
such forward-looking statements. Such risk factors include, among others, that
actual results of the Company's exploration activities will be different than
those expected by management and that the Company will be unable to obtain or
will experience delays in obtaining any required government approvals or be
unable to procure required equipment and supplies in sufficient quantities and
on a timely basis, or be able to close the Private Placement and receive the
requisite governmental or regulatory approvals. Readers are cautioned not to
place undue reliance on forward-looking statements. The Company does not intend,
and expressly disclaims any intention or obligation to, update or revise any
forward-looking statements whether as a result of new information, future events
or otherwise, except as required by law.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Rogue Iron Ore Corp.
Mike McCormick
Corporate Communications
(604) 638-1157
mike@rogueiron.com
www.rogueiron.com

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