Black Iron Webinar – Company Overview & Exciting 2021 Plans

TORONTO, January 12, 2021 - Black Iron Inc. ("Black Iron" or the "Company") (TSX:BKI); (OTC:BKIRF); (FWB:BIN) is pleased to announce that Black Iron management will be hosting a web-based presentation for current and future potential shareholders on January 19^TH at 10am to provide an overview of the Company and its exciting plans for 2021. People interested to attend this session can sign up on Black Iron's website www.blackiron.com/registration/ post which you will receive a video and phone number to access the event that you need to save.

Iron ore had the greatest price appreciation of any mainstream commodity in 2020, largely due to governments globally spending hundreds of millions on infrastructure projects to get people back to work and stimulate the economy. Black Iron is a low-cost undeveloped iron ore project on the brink of securing financing for construction with several major milestones targeted for this coming year, which will be covered during this presentation.

Given substantial recent developments including a US$100 million royalty, progress with off take parties and increased public enquiries received, management has decided to conduct a 45-minute web-based presentation followed by a question period for attendees.

Matt Simpson, CEO of Black Iron, stated: "2021 is shaping up to be a pivotal year for Black Iron as we look to move the financing and land acquisition matters, which were well advanced in 2020, to a head with binding agreements. Given Black Iron's share price appreciation, we have received a substantial increase in public enquiries and feel this is a great time and opportunity to tell our story, explain what investors can expect for 2021, and answer any questions people may have. These types of presentations are generally only available to institutional investors or those who pay to attend conferences, however we believe anyone who wishes to learn more about Black Iron should have the ability to do so."

I encourage you to sign up early on Black Iron's website www.blackiron.com/registration/ post which you will receive a video and phone number to access the event that you need to save.

About Black Iron

Black Iron is an iron ore exploration and development company, advancing its 100% owned Shymanivske project located in Kryviy Rih, Ukraine. The Shymanivske project contains a NI 43-101 compliant mineral resource estimated to be 646 Mt Measured and Indicated mineral resources, consisting of 355 Mt Measured mineral resources grading 32.0% total iron and 19.5% magnetic iron, and Indicated mineral resources of 290 Mt grading 31.1% total iron and 17.9% magnetic iron, using a cut-off grade of 10% magnetic iron. Additionally, the Shymanivske project contains 188 Mt of Inferred mineral resources grading 30.1% total iron and 18.4% magnetic iron. Full mineral resource details can be found in the NI 43-101 compliant technical report entitled "Preliminary Economic Assessment of the Re-scoped Shymanivske Iron Ore Deposit" effective November 21, 2017 (the "PEA") under the Company's profile on SEDAR at www.sedar.com. The Shymanivske project is surrounded by five other operating mines, including ArcelorMittal's iron ore complex. Please visit the Company's website at www.blackiron.com for more information.

The technical and scientific contents of this press release have been prepared under the supervision of and have been reviewed and approved by Matt Simpson, P.Eng, CEO of Black Iron, who is a Qualified Person as defined by NI 43-101.

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Forward-Looking Information

This press release contains forward-looking information. Forward-looking information is based on what management believes to be reasonable assumptions, opinions and estimates of the date such statements are made based on information available to them at that time. Forward-looking information may include, but is not limited to, statements with respect to the financial viability of the Shymanivske project (the "Project"), the price of iron ore, the demand for iron ore, the Company's ability to obtain adequate financing, including offtake financing, the Company's ability to enter into definitive agreements with investors, the Company's ability to acquire the requisite land for Project construction, the Company's ability to develop the Project, the ceasefire of conflict in Ukraine and the Company's future plans. Generally, forward looking information can be identified by the use of forward-looking terminology such as "plans," "expects" or "does not expect," "is expected," "budget," "scheduled," "estimates," "forecasts," "intends," "anticipates" or "does not anticipate," or "believes," or variations of such words and phrases or state that certain actions, events or results "may," "could," "would," "might" or "will be taken," "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; other risks of the mining industry and the risks described in the annual information form of the Company. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. The Company notes that mineral resources that are not mineral reserves do not have demonstrated economic viability.

SOURCE: Black Iron Inc.