NetworkNewsBreaks – Black Iron Inc. (TSX: BKI) (

NetworkNewsBreaks – Black Iron Inc. (TSX: BKI) (OTC: BKIRF) (GR: BIN) Renews Access Agreements for Port and Power

Canadian iron ore exploration and development company Black Iron Inc. (TSX: BKI) (OTC: BKIRF) (GR: BIN) this morning announced the renewal of its letter of intent (“LOI”) with TransInvestServis (“TIS”) for storage and cape-size ship loading capacity at TIS’ privately owned berth at Port Yuzhny in an effort to match projected production from the phased build of Black Iron’s Shymanivske Project. In addition, the company has renewed its LOI with DTEK DNIPRO GRIDS JSC to secure the required electricity to operate the mine and processing plant. “Renewal of our major infrastructure LOIs is important to provide confidence for investors in Project construction that the port, rail and power providers still have sufficient space capacity to meet Black Iron’s needs. The TIS cape-size terminal at Port Yuzhny allows Black Iron to achieve competitive landed costs in all our targeted markets, including Europe, the Middle East and Asia Pacific,” Black Iron CEO Matt Simpson said in the news release. “The benefits of access to a large power grid are significant in terms of affordable and reliable power supply. We appreciate the close cooperation we have received from TIS, DTEK and Ukraine’s national railway in renewing the respective LOIs, which helps us move closer to Project construction phase.”

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