Black Iron (BKI
- TSX) Hires Formed Ferrexpo General Director as COO
May 24, 2011
Investor Cubed is pleased to forward a press release issued by
Black Iron (BKI - TSX) highlighting the following:
·
George Mover is the Chief Operating Officer of Black Iron to be
based at the project site in Krivoy Rog, Ukraine.
·
Mr. Mover has significant experience working in former Soviet Union
countries as well as Canada, and will be instrumental in Black
Iron's development.
·
Mr. Mover is the former Project General Director at Ferrexpo Ag and
led the development of their Greenfield iron project in Ukraine
which is similar to Black Iron's.
"George will play a significant role in helping us operate in
Ukraine, while maintaining the controls and standards expected by
international capital markets."
Matt Simpson, President & CEO of Black Iron
If
you have any questions or would like to meet with Black Iron's
management team please contact Investor Cubed at 647 258 3311 or
info@investor3.ca.
Black Iron Hires Former Ferrexpo General Director as Chief Operating
Officer
TORONTO,
ONTARIO--(Marketwire - May 24, 2011) - Black Iron
Inc. ("Black Iron" or the "Company") (TSX:BKI) is pleased to
announce the appointment of George A. Mover, P. Eng., as its Chief
Operating Officer. Mr. Mover is the former Project General Director
of Ferrexpo Yeristovo Mining, a subsidiary of Ferrexpo AG, where he
led the development of an open pit iron ore mine and refinery slated
to produce 10 million tonnes per annum of pellets; this development
is similar in concept and size to Black Iron's current plans for its
100% owned Shymanivske project.
Matt Simpson, President and Chief
Executive Officer of Black Iron, commented, "We are excited to have
George Mover join the Black Iron team to lead our operations in
Ukraine. George gives us a much needed senior presence on the ground
in Ukraine, but more importantly, he brings a wealth of knowledge
and experience including the development of an iron ore mine in
Ukraine that is similar in scale to our initial plans for
Shymanivske. Further, having had the opportunity over his career to
work in many former Soviet Union countries and in Canada, George
will play a significant role in helping us operate in Ukraine, while
maintaining the controls and standards expected by international
capital markets."
In his capacity as Project General
Director with Ferrexpo, Mr. Mover was responsible for the start-up
and overall development and operations of their Ukraine Greenfield
iron ore open pit mine concentrator and pellet plant from 2007 until
2009.
Other highlights from Mr. Mover's career
include:
-
Overall
responsibility for the development of one of the world's largest
silver deposits in north eastern Russia on behalf of Pan
American Silver Corporation.
-
Vice President CIS
Operations for World Wide Minerals accountable to restart four
uranium mines and processing plants in Kazakhstan.
-
Resident Manager
Magadan for Davy International EPCM consultants
About the Company
Black Iron is an iron ore exploration and
development company advancing its 100%-owned Shymanivske project
located in Krivoy Rog, Ukraine. This project contains a NI 43-101
compliant resource with 345Mt measured and indicated resources
grading 32% iron and 469Mt of inferred resources grading 31% 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
or write us at info@blackiron.com for more information.
The technical contents of this press
release have been prepared under the supervision of, and reviewed
by, Matt Simpson, President & Chief Executive Officer of the
Company, 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 anticipated effect of the
appointment on the Company's operations and . 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 statements regarding the
appointment are based on management's assessment on the date such
assessments are made, based on past experience and competencies of
the appointee. 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:
Investor Relations
Investor Cubed
(647) 258-3311
Toll Free: 1 888 258 3323
OR Matt Simpson
Black Iron Inc.
President & Chief Executive Officer
(416) 309-2138
info@blackiron.com
www.blackiron.com
