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CIO.V ·

Commencement of RC Drilling

Exploration Programs

ABN: 32 072 871 133

Central Iron Ore Limited

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

Tel. +61 2 9397 7521

NEWS RELEASE Symbol: CIO-TSXV

10 November, 2023 For Immediate Dissemination

Commencement of RC Drilling

VANCOUVER, BRITISH COLUMBIA – (Marketwire – 10 November 2023), Central Iron Ore

Limited (CIO – TSX.V) (“CIO” or “the Company”) is pleased to announce it has commenced a

small RC drilling programme at its South Darlot Gold Project.

RC DRILLING

A small RC programme targeting the Mermaid, Weebo/Weebo North, Rose, Sylvia and Kynton

prospects at the 70% owned South Darlot Gold Project commenced this week on Monday 6/11.

A total of 2,030 metres have been planned and it is envisaged the programme will be completed

within 10 days. Results are expected in mid-December.

QUALIFIED PERSON

Mr Andrew Bewsher who is a Member of the Australian Institute of Geoscientists and has

compiled the information within this report relating to the RC drilling programme. Mr Bewsher has

sufficient experience relevant to the style of mineralisation and type of deposit under consideration

and to the activity currently being undertaken to qualify as a Competent Person as defined in NI

43-101.

On behalf of the Board of Directors

CENTRAL IRON ORE LIMITED

“David Deitz”

____________________________

David Deitz, Director/CEO

For further information, please contact:

www.centralironorelimited.com

Investor and Media Inquiries:

Direct: +61 2 9397 7521

Email: [email protected]

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, anticipate, 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 t he 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 lo cated, 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 an d 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.sedar.com.