Drilling Commences

/EIN News/ -- VANCOUVER, British Columbia, May 01, 2025 (GLOBE NEWSWIRE) -- Central Iron Ore Limited (CIO – TSX.V) (“CIO” or “the Company”) is pleased to announce this Drilling Update.

Central Iron Ore Limited is pleased to announce that the next phase of resource expansion drilling at the British King Project in Western Australia has commenced (Figure 1). 78 Reverse Circulation ('RC') drillholes are scheduled to be completed over a 9-week campaign.

Figure 1. The sun sets after another successful day's drilling of the 2025 Phase 1 RC campaign at the British King Project

Highlights:

• Phase 1 Resource expansion drilling has commenced at British King.
• 78 RC (Reverse Circulation) drill holes for 10,601m has been planned to further extend in all directions the recently updated British King resource along the entire extent of the deposit (Figure 2).
• Phase 1 is designed to expand the footprint of the existing British King geological model, whilst drilling at a tight enough collar spacing to allow for an inferred resource to be modelled of the resultant extended British King lode.
  
  

Planned drilling for 2025 has been structured in two phases (Figure 3):

• Phase 2 will focus on targeted infill drilling to upgrade the Phase 1 inferred resource to indicated status.
  

Figure 2. Phase 1 Collars for 2025 Resource Expansion

Figure 3. Phase 1 and Phase 2 Collars for the 2025 drilling

British King Project (Western Australia)
The Company’s British King Project is located across the British King Mine situated on the M37/30 Mining Tenement, approximately 320km northwest of Kalgoorlie and 60km east of Leinster in Western Australia (Figure 4).

Figure 4. British King Project Location

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: info@centralironorelimited.com

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 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.sedar.com.

Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/5c7eab14-3784-434f-8d57-aa7affbb3568
https://www.globenewswire.com/NewsRoom/AttachmentNg/5f541db5-c3d5-42cf-b34c-bb1e0b40772a
https://www.globenewswire.com/NewsRoom/AttachmentNg/4ff9245d-c8ab-4799-bef8-7ad8eb9b3acc
https://www.globenewswire.com/NewsRoom/AttachmentNg/03e088dd-8c27-4b2a-b13f-f24358b690df

Figure 1

The sun sets after another successful day's drilling of the 2025 Phase 1 RC campaign at the British King Project

Figure 2

Phase 1 Collars for 2025 Resource Expansion

Figure 3

Phase 1 and Phase 2 Collars for the 2025 drilling

Figure 4

British King Project Location