CIO Completes AUD$3.45 Million Sale of Eureka Gold Project

VANCOUVER, British Columbia, Aug. 06, 2018 -- Central Iron Ore Ltd. (CIO – TSX.V) (“CIO”) is pleased to announce that it has completed the AUD$3.45 million sale of its Eureka Gold Project to ASX listed Tyranna Resources Ltd. (ASX:TYX) (“Tyranna”).

The structure of the total consideration paid to CIO for the Eureka Gold Project consists of:

Tyranna paid CIO AUD$1,869,003 in cash.

Tyranna Issued of 93,205,304 shares in Tyranna at a deemed price of $0.017 per shares totalling AUD$1,584,490.

CIO paid Coral Brook Pty Ltd AUD$144,499 as a fee for facilitating the sale.

On behalf of the Board of Directors
Central Iron Ore Ltd.

“Brett Hodgins”
____________________________
Brett Hodgins, President/CEO

For further information, please contact:
www.centralironorelimited.com

Investor and Media Inquiries:
Direct: +61 2 9397 7555

Email:info@centralironore.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.

ABN: 32 072 871 133