Northern Iron's Karas property Intersects of 474 metres of magnetite mineralization

Northern Iron today released assay results for drill holes KA-11-26 and 27 on the Karas property. The drill holes continue testiartificial sand comparison with natural sandng the true thickness of the magnetite mineralization in line with the previously released holes, testing the central and eastern part, and down dip extension and plunge of the magnetite mineralized zone. The magnetite mineralized zone remains open at depth.

Mr. Basil Botha, President & CEO stated, "These are excellent results and the Karas property continues to demonstrate continuity. After releasing the initial Davis Tube test results on 22nd of February, management believes that together with the past producing Griffith mine property we should be able to demonstrate, following the resource calculation by Roscoe Postle and Associates, two sizable properties. The tightly folded banded iron formation on the Karas property demonstrates a continuous formation from surface to depth with a magnetic signature of 800 metres by 500 metres at surface." Hole KA-11-26 is the longest and deepest hole drilled on the Karas property (738.11m), drilled at 55 degrees and ending 550m below surface. The hole tests the down dip extension and...