Cartier Completes Summer Field Work on Gagnon Holdings

Cartier Iron Corporation (CNSX:CFE) ("Cartier Iron" or the "Company") is pleased
to announce a summary of its 2013 field exploration programme. The work was
completed during the past field season and involved surface exploration of all
the mineral concessions comprising its optioned Gagnon Holdings in the southern
Labrador Trough. Potential iron resource targets were ground-truthed, grab- and
channel-samples were collected and assayed, and, where possible, the spatial
attitude and orientation of the iron formation was assessed. 


Cartier Iron will continue to prioritize its focus on the Penguin Lake Project,
where it intersected 1600 metres of high-grade iron formation during a 10-hole,
3,315 m drilling campaign this past winter. A Mineral Resource estimate from
this programme is expected in the coming weeks. The recent ground exploration
programme will allow the company to prioritize exploration programmes going
forward and reduce land holdings and costs in areas identified with limited or
no resource potential. The Gagnon Holdings are currently being explored pursuant
to an option agreement with Champion Iron Mines Limited (TSX:CHM), whereby
Cartier Iron was granted the right to earn a 65% interest in the iron-rich
mineral concessions (see Cartier Iron's press release dated December 11, 2012). 


John Langton, Cartier Iron's President, remarked, "The Company took full
advantage of the opportunity for boot and hammer field work that presented
itself this summer due to the poor market conditions. Geological mapping is a
cost-effective, project-generative exploration tool that is fundamental to any
effective exploration programme. With a better understanding of the geology, the
Company can better focus its exploration programmes going forward, and more
clearly communicate the economic potential of its projects to stakeholders."


Overall, 221 geological information points (GIP's) were visited at the Big Three
Lake, Aubertin-Tougard, Silicate-Brutus and Round Lake properties. A total of
100 samples, comprising 81 grab samples and 19 channel samples from 13 channels,
were collected and sent for analysis.


Big Three Lake

A total of 34 GIP's (outcrops) were visited, from which 8 samples were collected
for assay. Average grade of total iron (FeT) from the collected iron formation
samples is 35.5% FeT. 


The potential for the property comprises a 3 km long, 25-35 metre thick,
northwest-trending "J"-shaped specular-hematite unit hosted in a tight
overturned syncline whose northern limbs dips gently to the east. No follow-up
drilling is planned for Big Three Lake at this time.


Aubertin-Tougard 

Two principal iron-formation target areas were investigated: 1) the eastern part
of the main claim-block, which is underlain by a 5 km long magnetic/gravity
anomaly coincident with a synformal core of quartz-magnetite gneiss, and; 2) the
western part of the claims, which is underlain by two northwest-trending
magnetic/gravity anomalies coincident with hematite iron formation packages, as
confirmed on the ground by the presence of abundant, large angular blocks of
quartz-specular hematite +/- magnetite gneiss and lean iron formation. 


During the mapping programme 92 outcrop sites were visited, from which 30
samples were collected. In addition, 11 of these sites were chosen for channel
sampling, from which 17 samples were collected. Average concentrations of total
iron (FeT) from the five main sample areas (Aubertin zone - 32.6% FeT; Aubertin
North zone - 31.6% FeT; Lise Lake zone - 30.4% FeT; Hydro zone - 33.2% FeT, and;
Speck Lake - 33.2% FeT), show that the project hosts high-grade quartz-hematite
+/- magnetite iron formation and lean iron formation.


Follow-up drilling of both principle anomalies at Aubertin-Tougard is needed for
further assessment.


Silicate-Brutus

A total of 95 outcrops were visited, from which 45 samples, two from cut
channels, were collected for assay. The collected iron formation samples that
were visually estimated to contain potential resource-grade iron content (i.e.,
greater than 15% iron), averaged 30.6% FeT, indicating that the project hosts
the potential for deposits of high-grade quartz-hematite/magnetite iron
formation. Composite assay results reported from historical (1961) drilling
averaged 30.3% FeT(i) (GM12097, page 12).


(i)These results are from historic drilling and are therefore are not considered
to be in accordance with National Instrument 43-101 standards, and should
therefore not be relied upon. The historic analytical results and accompanying
historic mineral resource is reported in assessment file GM12097 by Quebec
Cartier Mining Co. This resources assessment was considered inferred in the
original report, but has not been verified, is not being treated as a current
estimate, and should not be relied upon. Historic drill hole intercepts are not
true widths, and are also reported in the same assessment file.


As the principle anomalies at Silicate-Brutus straddle the property boundary
shared with ArcelorMittal, Cartier Iron does not intend to inject significant
capital into exploring the Property until a mutually satisfactory exploration
and development arrangement with ArcelorMittal is brokered.


Round Lake

Exploration on the Round Lake Property comprised reconnaissance geological
mapping and prospecting, around provincially catalogued iron occurrences,
namely: Aubrey Lake, Black Dan, Heart Lake, and Themines 4. High-grade
magnetite-rich iron formation was noted at all of these locations. The following
are preliminary observations of the high-grade magnetite mineralization: Aubrey
Lake (west side) - 40 metres wide (on surface) dipping -50 degrees northeast;
Black Dan (south end), 70 metres (on surface) of high-grade (25-40% magnetite),
dipping -60 degrees to -80 degrees northeast; Heart Lake (south end), 50 metres
(surface-width) of high-grade magnetite dipping -25 degrees to -50 degrees
northeast; Themines 4, 25-35 metre wide zone (on surface) with -55 degrees dip
to the northeast.


A total of 53 samples were collected for assay, 42 of which contain potential
resource-grade iron content (i.e., greater than 15% iron): these samples
averaged 29.7% FeT. 


The Round Lake Property also hosts the Penguin Lake Project. Further exploration
will be required to determine whether these nearby deposits can be advanced
concurrently with Penguin Lake as part of an area development.


About Cartier Iron Corporation 

Cartier Iron is an exploration and development Company focused on discovering
and developing significant iron ore resources in eastern Canada, particularly in
the provinces of Quebec. The Company's projects include the Gagnon Holdings in
the Cote-Nord Region of east-central Quebec, and the Borel River Prospect in the
Nunavik Region of northern Quebec. 


The technical information in this news release was prepared by John Langton
(P.Geo.), President and a Director of the Company, and a Qualified Persons under
NI 43-101 standards.


To view Figure 1, please visit the following link:
http://media3.marketwire.com/docs/903083-cartier-fig1.pdf


FOR FURTHER INFORMATION PLEASE CONTACT: 
Cartier Iron Corporation
[phone]
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www.cartieriron.com