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CIO.V ·

Central Iron ORE Files Amended Rights Offering Circular

Financings

ABN: 32 072 871 133

Central Iron Ore Ltd.

Suite 1 Level 2, 49-51 York Street, Sydney 2000 Australia

Tel. 61 2 9397 7555 Fax. 61 2 9397 7550

NEWS RELEASE Symbol: CIO-TSXV

August 19, 2024 For Immediate Dissemination

CENTRAL IRON ORE FILES AMENDED RIGHTS OFFERING CIRCULAR

Central Iron Ore Ltd. (TSXV: CIO) (the “Company”) is pleased to announce that, further to its

press release of August 2, 2024, the Company has filed an amended rights offering circular (the

"Circular") dated August 19, 2024, amending the rights offering circular of the Company dated

August 2, 2024 , in connection with its rights offering (the "Rights Offering") to holders of its

ordinary shares at the close of business on the record date of August 13, 2024 (the "Record

Date").

At the request of the Australian Securities & Investments Commission (the "ASIC"), the Company

revised the offer information statement (the "OIS"), which is Exhibit "I" to the Circular, and filed a

replacement OIS with the ASIC on August 15, 2024 (the "Revised OIS"). Other than replacing

the OIS with the Revised OIS as Exhibit "I" to the Circular , no other changes were made to the

Circular.

The following changes were made to the OIS:

• Section 2 (Important Notices), Section 3.16 (Disclosure of Interests), Section 4.16

(Substantial Shareholders), Section 4.17 (Directors’ Interests and Participation), Section

4.19 (Effect on Control of the Company), Section 6.2 (Future Capital Requirements ),

Section 6.13 (Exploration Costs Risk), Section 6.25 (Unforeseen Expenditure Risk),

Section 8.3 (Disclosure of Directors’ Interests) and Section 8.5 (Agreements with Directors

or other Related Parties) have been amended to include additional information.

• Consequential amendments have been made to the Investment Overview in Section 3

(including Section 3.5 (Key Risks), Section 3.11 (Substantial Shareholders) and Section

3.16 (Disclosure of Interests)) and the Glossary in Section 11.

For further information, readers are encouraged to review the Circular, including the Revised OIS,

which is annexed to the Circular as Exhibit "I", which will be available under the Company's profile

at www.sedarplus.ca and on the Company's website at www.centralironorelimited.com

For more information, please contact:

David Deitz, Director

Tel.: +61 411 858 830

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies

of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES SERVICES OR FOR DISSEMINATION

IN THE UNITED STATES.

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking information within the meaning of Canadian securities laws. Although the

Company believes that such information is reasonable, it can give no assurance that such expectations will prove to

be correct. Forward -looking information is typically identified by words such as: believe, expect, an ticipate, intend,

estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company

cautions investors that any forward -looking information provided by the Company is not a guarantee of future results

or performance, and that actual results may differ materially from those in forward looking information as a result of

various factors, including, but not limited to, the state of the financial markets for the Company’s equity securities, the

state of the market for iron ore or other minerals that may be produced generally, recent market volatility; variations in

the nature, quality and quantity of any mineral deposits that may be located, the Company's ability to obtain any

necessary permits, consents or authorizations required for its activities, to raise the necessary capital or to be fully able

to implement its business strategies and other risks associated with the exploration and development of mineral

properties. The reader is referred to the Company's disclosure documents for a more complete discussion of such risk

factors and their potential effects, copies of which may be accessed through the Company’s page on SEDAR + at

www.sedarplus.ca.