Black Iron Announces Agm Results
BLACK IRON ANNOUNCES AGM RESULTS
For Immediate Release
TORONTO, CANADA, May 31, 2017 – Black Iron Inc. (“Black Ir on” or the “Company”) (TSX:
BKI) reports, in accordance with the policies of the Toronto Stock Exchange, that the nominees
listed in the management information circular dated May 2, 2017 were elected as directors of
the Company at the annual and general meeting of shareholders of the Company (the
“Meeting”) held on May 31, 2017. At the Meeting, shareholders also approved the appointment
of the Company’s auditors, KPMG LLP. Black Iron would like to thank its shareholders for their
participation and continuing support.
Detailed results of the vote for the election of directors are as follows:
Votes For % Votes For Votes
Withheld
% Votes
Withheld
John Detmold 58,445,771 100% Nil Nil
Bruce Humphrey 58,445,771 100% Nil Nil
Pierre Pettigrew 58,435,771 99.98% 10,000 0.02%
David Porter 58,440,271 99.99% 5,500 0.01%
Matthew Simpson 58,445,771 100% Nil Nil
About Black Iron
Black Iron is an iron ore exploration and development company, advancing its 100% owned
Shymanivske project located in Kryviy Rih, Ukraine. This project contains a NI 43-101 compliant
resource estimated to be 645.8 Mt Measured and Indicated mineral re sources, 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. Additiona lly, the Shymanivske project contains
188.3 Mt of Inferred mineral resources grading 30.1% total iron and 18.4% magnetic iron. Full
mineral resource details can be found in the National Instrument 43 -101 compliant technical
report dated January 24, 2014 ti tled "Feasibility Study of the Shymanivske Iron Ore Deposit for
Black Iron Inc." under the Company's profile on SEDAR at www.sedar.com. The Shymanivske
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 producti on. Please visit the Company's
website at www.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 a pproved by Matt Simpson, P.Eng, CEO of Black
Iron, who is a Qualified Person as defined by NI 43-101.
For more information, please contact:
Matt Simpson
Chief Executive Officer
Black Iron Inc.
Tel: +1 (416) 309-2138
Forward-Looking Information
This press release contains forward -looking information. Forward-looking information is based on what
management believes to be reasonable assumptions, opinions and estimates of the date such statements
are made based on information available to them at th at time. Forward -looking information may include,
but is not limited to, statements with respect to the election of directors and the Company’s ability to
develop the Shymanivske project . Generally, forward looking information can be identified by the use of
forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or
variations of such words and phrases or st ate that certain actions, events or results "may", "could",
"would", "might" or "will be taken", "occur" or "be achieved". Forward -looking information is subject to
known and unknown risks, uncertainties and other factors that may cause the actual results, level of
activity, performance or achievements of the Company to be materially different from those expressed or
implied by such forward -looking information, including but not limited to: general business, economic,
competitive, geopolitical and social un certainties; the actual results of current exploration activities; other
risks of the mining industry and the risks described in the annual information form of the Company.
Although the Company has attempted to identify important factors that could cause a ctual results to differ
materially from those contained in forward -looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can be no assurance that such information
will prove to be accurate, as actual results and future events could differ materially from those anticipated
in such statements. Accordingly, readers should not place undue reliance on forward looking information.
The Company does not undertake to update any forward -looking information, except in accordance with
applicable securities laws. The Company notes that mineral resources that are not mineral reserves do
not have demonstrated economic viability.