Vancouver, British Columbia, Canada – February 25, 2013.
Northern Iron Corp. (“Northern” or the “Company”) (TSX-V: NFE) (OTCQX- NHRIF) (FRANKFURT: N8I) is pleased to announce the premier of its animated short video series entitled ‘The New Iron Age’.
“’The New Iron Age’ is a complete departure for the Company, and as far as we know, for the Canadian resource industry,” says Company CEO Basil Botha. “This highly entertaining and informative style of animation is the perfect medium for us to use to tell an inherently fundamental but necessarily complicated story to a wide global audience. We are an iron ore company, which is about as fundamental as it gets, but when we begin to tell the story of our primary asset – a value-added engineered metallic and form of direct reduced iron known as HBI (hot briquetted iron), we were losing a percentage of our audience amid the variables and complexities.”
The New Iron Age chronicles the history of iron and steelmaking, and explains in very broad, entertaining strokes, the complex relationships between our strongest natural resource, steel and scrap steel supply and demand, global growth and economics, and sustainability. The short’s unique style of animation is at once simple and sophisticated, and it delivers information in a way that is both engaging and educational.
“What we want is to provide a baseline of understanding – of iron ore and its relationship to human development past, present and future – at large and in boardrooms. Once we have answered the basic questions and created the bigger picture, we can effectively discuss the technical, economic and geological variables that govern an extraordinary opportunity for Canada domestically, and as a supplier to China and the United States. The reality is that, we can answer forecasted global shortfalls, increase domestic production, and reduce North American dependence on imported HBI – most critically now, on the eve of the ‘Rebuilding of America’. And that’s a great story,” adds Botha.
About The New Iron Age:
The 12-minute animation, which took eight weeks to complete and involved five animators, is unconventional and at times fantastical – a hybrid style developed en-route to accommodate the delivery of inherently technical information that is not easily visualized. The steely narrative was voiced by Juno Award-Winning actor-musician Jim Byrnes – whose St. Louis bluesy style seemed made for the project. Part One of The New Iron Age story premieres Monday February 25th, with subsequent chapters broadcast as follows:
The New Iron Age Broadcast Schedule
(part one) The Backbone of Civilization: a history of steel (3:34) Feb 25, 2013
(part two) Hot Briquetted Iron: HBI: balancing global metallics supply and demand (5:44) Feb 27, 2013
(part three) Ironclad Opportunity: re-starting Canada’s historic Griffith iron-ore mine (2:57) Mar 04, 2013
(trilogy) The New Iron Age: a cleaner, greener, infinitely more sustainable future (12:08) Mar 06, 2013
About Northern Iron Corp.
The Company is a 100% owner of five iron ore properties in the Red Lake district containing over 500 million tonnes of historical resources with grades ranging from 22% to 31% Fe. The Red Lake district is situated in an established mining area in Ontario, where the company has two near term development projects, the past producing Griffith mine and the Karas property.
A qualified person has not done sufficient work to classify the historical estimate as current mineral resources, the issuer is not treating the historical estimate as current mineral resources.
The Company is currently working towards the production of HBI, a transportable form of direct reduced iron. HBI is complementary and a viable metallic alternative to scrap steel. Quality scrap is a critical raw material in the steel making process. With the diminishing supply of quality scrap steel and ever increasing market demand, steel producers around the world will be looking to secure alternative supplies of metallic products.
As part of the business plan, the Company acquired the past producing Griffith mine, which produced pellets and sponge iron (Direct Reduced Iron/DRI) from 1968 to 1986. The mine was owned and operated by STELCO and supplied pellets and sponge iron to the Hamilton and Nanticoke steel mills in Ontario. The metallurgy of the deposit has been proven over eighteen years of production.
Almost the entire transportation infrastructure is currently in place to both produce HBI and to ship produced HBI into the North American market via rail and lake barges and into Asian markets via rail through the port of Prince Rupert. Existing infrastructure includes all weather roads, 115kV power line, natural gas line, rail bed and port facilities.
The Company is focusing on de-risking the project by seeking out potential joint venture partners, off-take agreements or a combination thereof.
The foregoing information may contain forward-looking statements relating to the future performance of the Company. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from the Company’s plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by the Company with the TSX Venture Exchange and securities regulators. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
For Further Information, Please Contact:
President & CEO
Northern Iron Corp.