Central Iron Ore Ltd.: Drilling Completed at Perinvale South Iron Ore Hub

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES.


Central Iron Ore Ltd. (TSX VENTURE:CIO) ("CIO" or "the Company") is pleased to
announce that diamond drilling has now been completed at the Walling Rock
Project, which is a part of the Company's Perinvale South Iron Ore Hub in
Western Australia. The Company drilled two holes in this programme.


The aim of drilling was to provide the Company with samples for initial
metallurgical test-work for this project. The test-work is aimed at prioritising
the various options for upgrading the magnetite ore by a combination of magnetic
separation and screening. Results from this test-work are anticipated in the
first quarter of 2013.


Yilgarn Iron Ore Project Area

The Company now has a total of 16 iron ore tenements, covering 1,594km2, located
within the Yilgarn Iron Ore Province ("Yilgarn IOP") in Western Australia, of
which ten tenements are granted and six tenements are pending applications. The
Yilgarn IOP is considered highly prospective given its history of large-scale
iron ore production, with the Cliffs Natural Resources Ltd-owned Koolyanobbing
operation (formerly operated by Portman Limited) currently producing at a rate
of approximately 8Mtpa of Direct Shipping Ore ("DSO"). The Yilgarn IOP is
increasingly being recognised as an attractive location for the development of
iron ore projects, given its proximity to rail and access to ports. 


To view the maps accompanying this press release please click on the following
link: http://media3.marketwire.com/docs/CIO0906.pdf


QUALIFIED PERSON

Mr. Andrew Spinks B.App.Sc, Grad.Dip (Mining), a member of AusIMM, and a
consultant geologist, a qualified person as defined in NI 43-101, has reviewed
and approved the technical content of this announcement.


On behalf of the Board of Directors

CENTRAL IRON ORE LTD.

Brett Hodgins, President/CEO

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.


ABN: 32 072 871 133