Management Discussion & Analysis of the Company for the fiscal year ended
ABN: 32 072 871 133
Central Iron Ore Ltd
# 916 – 925 West Georgia Street, Vancouver, BC V6C 3L2 Canada Tel. 604.687.0775 Fax. 604.687.0710
NEWS RELEASE Symbol: CIO-TSXV
December 1, 2010 For Immediate Dissemination
VANCOUVER, BRITISH COLUMBIA – (Marketwire – December 1, 2010, CENTRAL IRON ORE LIMITED (CIO-TSXV) (the “Company”) is pleased to announce that its Annual General Meeting was held on November 30, 2010. At the meeting, shareholders received the audited consolidated Financial Statements and Management Discussion & Analysis of the Company for the fiscal year ended June 30, 2010 including the auditors’ report and resolved to:
1. Re-elect Mr Andrew Spinks as a director of the Company;
2. Re-elect Mr Bruce Burrell as a director of the Company;
3. Re-elect Mr David Taylor as a director of the Company;
4. Re-elect Mr Brett Hodgins as a director of the Company;
5. Re-elect Mr Richard Homsany as a director of the Company;
6. Approve the appointment of Canadian Auditors, Davidson & Company;
7. Approve the ratification of the option plan; and
8. Approve the issue of Tranche 2 shares and Tranche 2 Warrants to Brooklyn Bay Pty Ltd and Golden Sword Investments Pty Ltd.
Full details of the resolutions passed are contained in the Notice of Meeting and the Management Information Circular. Details of proxies received are contained in Schedule 1.
Central Iron Ore Limited (CIO) is an exploration and development company engaged in the search for and development of iron ore and gold in Australia. Both of our gold properties, Eureka and British King are 100% owned, NI43-101 compliant and are capable of producing a positive cash flow from gold sales in the first twelve months of operation. Central Iron Ore has commenced its iron ore strategy by applying for iron ore tenements in the Yilgarn Iron Ore Province.
On behalf of the Board of Directors
CENTRAL IRON ORE LTD.
“Andrew Spinks”
____________________________ Andrew Spinks, President/CEO
For further information, please contact:
Investor and Media Inquiries:
Capital Street Group 1641 Lonsdale Ave, Suite 869 North Vancouver, B.C. V7M 2J5 TOLL Free IR Line : 1-888-684-1183 Direct: (604) 988-8186 Email:[email protected]
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Central Iron Ore Limited
November 30, 2010
Total votes reported 17,099,849 65.89%
Total shares issued and outstanding 25,950,718
Against/ For Withhold % For % Against Resolution 1: Directors
| 1.1 Election of A. Spinks | 16,875,136 | 224,713 | 98.69% | 1.31% |
| 1.2 Election of B. Burrell | 16,875,186 | 224,663 | 98.69% | 1.31% |
| 1.3 Election of D. Taylor | 16,875,136 | 224,713 | 98.69% | 1.31% |
| 1.4 Election of B. Hodgins | 16,875,186 | 224,663 | 98.69% | 1.31% |
| 16,875,186 | 224,663 | 98.69% | 1.31% |
1.5 Election of R. Homsany
Resolution 2: Appointment of Canadian Auditors, Davidson & Company
Total 17,099,849 0 100.00% 0.00%
Resolution 3: Ratification of Stock Option Plan
Total 16,897,136 202,713 98.81% 1.19%
Resolution 4. Issue of Shares and Warrants to Brooklyn Bay Pty Ltd and Golden Sword Pty Ltd*
Total 12,097,136 2,713 99.98% 0.02% *2.5m shares held by Golden Sword Resources and 2.5m held by Brooklyn Bay have not been included in the vote for motion #4.