Central Iron Ore Limited: Drilling Commences

Central Iron Ore Limited (CIO – TSX.V)

(“CIO” or “the Company”) is pleased to announce this Drilling Update.

Central Iron Ore is pleased to announce that the next phase of exploration activities at the British King Project in Western Australia has started on the June 8, 2024, with 39 Reverse Circulation ('RC') and 4 diamond holes scheduled to be completed over a 7-week campaign (Figure 1).

Figure 1. The sun sets after the first day's drilling of the 2024 RC campaign at British King (M37/30)

Highlights:

• Drilling has commenced on 39 RC drillholes for 3,538m that will further test and delineate the known auriferous lode along the length of the tenement at the British King mine (Figure 1).
• One of the key objectives of this drill programme is to increase the drill hole density across the British King primary lode and its multiple associated ancillary lodes to support further resource evaluation work. These targets have confirmed gold mineralisation that are laterally extensive and remain currently open at depth.
• Commencing in July, 200 metres of Diamond Drilling (4 drillholes) will test the primary British King lode. The diamond drillhole core will provide invaluable mineralogical and metallurgical samples.

Figure 2. 2024 Collars being drilled at the British King mine

British King Project (Western Australia)The Company’s British King Project is located across the British King Mine situated on the M37/30 Mining Tenement, approximately 320km northwest of Kalgoorlie and 60km east of Leinster in Western Australia (Figure 3).

Figure 3. British King Project Location

QUALIFIED PERSON

Mr Andrew Bewsher who is a Member of the Australian Institute of Geoscientists and has compiled the information within this report relating to the RC drilling programme. Mr Bewsher has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity currently being undertaken to qualify as a Competent Person as defined in NI 43-101.

On behalf of the Board of DirectorsCENTRAL IRON ORE LIMITED

    “David Deitz”____________________________David Deitz, Director/CEO

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

Investor and Media Inquiries:Direct: [phone]

Email: [e-mail]

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.

Photos accompanying this announcement are available at:https://www.globenewswire.com/NewsRoom/AttachmentNg/4ddc2555-dccf-4a0b-9f5e-3f1389052e63https://www.globenewswire.com/NewsRoom/AttachmentNg/f7f09c8d-3c8a-4c25-ab70-c25fead949d9https://www.globenewswire.com/NewsRoom/AttachmentNg/6d726b15-778d-407c-8566-d2d672c5d7e0