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Q1 ended June 30, 2013 Corporation Presentation November 2013 Centur y TSX: FER www.centuryiron.com IRON MINES CORPORATION

Century Iron Mines Corporate Presentation - November 2013

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Century Iron Mines Corporate Presentation - November 2013

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Page 1: Century Iron Mines Corporate Presentation - November 2013

Q1 ended June 30, 2013

Corporation PresentationNovember 2013Centur

y TSX: FER www.centuryiron.com

IRON MINES CORPORATION

Page 2: Century Iron Mines Corporate Presentation - November 2013

2

Forward Looking Statement

Except for statements of historical fact, this presentation contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “project”; “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices for metals, the conclusions of detailed feasibility and technical analyses, lower than expected grades and quantities of mineralization and resources, mining rates and recovery rates and the lack of availability of necessary capital, which may not be available to the Corporation on terms acceptable to it or at all, changes in and the effect of government policies with respect to mineral exploration and exploitation, the ability to obtain required permits, delays in exploration and development projects and the possibility of adverse developments in the financial markets generally, potential environmental issues and liabilities associated with exploration and development and mining activities. The Corporation is also subject to the specific risks inherent in the mining business as well as general economic and business conditions. The Corporation undertakes no obligation to update forward-looking information if circumstances or management’s estimates should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. More detailed information about potential factors that could affect financial results is included in the documents that may be filed from time to time with the Canadian securities regulatory authorities by the Corporation.

Century Iron Mines Corporation

Page 3: Century Iron Mines Corporate Presentation - November 2013

19951996

19971998

19992000

20012002

20032004

20052006

20072008

20092010

20112012

Aug YTD 13

Aug Mth 13

-

100

200

300

400

500

600

700

800

900

0%

10%

20%

30%

40%

50%

60%

657 649 690

661 665 720 699 722

748 799 788

826 856

815

655

780 807 831

794 769

95 101 109 115 124 129 152 182 222 273 356

421 490 512

577 637 683 717

775 795

Global Crude Steel ProductionChina's Share V.S. Rest of the World

(in million tonnes)World Exc. China China China's Share (in percentage)

The momentum of the Chinese economy continues ... In August 2013, its steel production surpassed the rest of the world for the first time …. and the rest of the world will recover for sure

>50%

2013 August month & YTD figures are annualized _

3Century Iron Mines Corporation

Page 4: Century Iron Mines Corporate Presentation - November 2013

A stabilizing spot market is driving higher long-term price forecasts on record high iron ore import to China @ 74.6Mt in Sept 2013 with low port inventory @ 73.3Mt …

4Century Iron Mines Corporation

29/05/09

29/07/09

29/09/09

29/11/09

29/01/10

01/04/10

01/06/10

01/08/10

01/10/10

01/12/10

01/02/11

01/04/11

01/06/11

01/08/11

01/10/11

01/12/11

01/02/12

01/04/12

01/06/12

01/08/12

01/10/12

01/12/12

01/02/13

01/04/13

01/06/13

01/08/13

01/10/13

0

50

100

150

200

250

$133.6

$26.7

$106.09

C3(Brazil-China) TSI FE 62% Spot Brazil FOB

TSI Fe 62% Daily Spot Price CFR China VS Brazil Daily FOBUS $Closing Price

@October 14, 2013

Page 5: Century Iron Mines Corporate Presentation - November 2013

… Large valuation gap – trading below working capital & JV cash …

Financial highlights (Sept. 30, 2013 except otherwise stated)Cash and cash equivalents Total working capital

$33.7M$54.0M

Cash in JV for project development not included aboveCash received from WISCO per JV agreement on September 19, 2013

$ 2.9M$20.0M

Capital structure (Nov. 13, 2013)Shares outstanding 94,187,071

Options (@$2.92 - $4.00) outstanding 9,870,000

Fully diluted 104,175,571

Share Price $0.485

Market Capitalization (approximately) $46 million

Share structureFounding shareholders and directors (excluding management) (Note 1) 32.0%

Management (Note 1) 22.7%

WISCO (approx. 24.6% & 60% Off take) and Minmetals (4.9%) – Strategic Partners 29.5%

Public Shareholders 15.8%

Total 100.0%

Century Iron Mines Corporation 5(Note 1: Approx. 52.9% subject to voluntary min. lockup of 3 yrs from May 2011 to production)

Page 6: Century Iron Mines Corporate Presentation - November 2013

6

Strategic Partnerships – A Proxy for China

Joint Venture

Champion Iron Mines Ltd.

(TSX: CHM)

Attikamagen Project

NSR

Note 2

100%(Note 2)

Minmetals Exploration & Development (Luxembourg) Limited S.à.r.l

WISCO International Resources

Development & Investment

Ltd (PRC)

Approx.

5%Approx.

25%

60%

Sunny Lake Project

Duncan Lake Project

Augyva Mining Resources Inc. (TSXV: AUV)

35%100%

Four projects acquired from

Altius Minerals Inc. (TSX: ALS) (Note 3)

100%

65%(Note 1)

40%Interest +60% off-take

James Bay Area

Duncan Lake

Note 1: Currently a 65% interest under an option and joint venture agreement with Augyva Mining Resources Inc.Note 2: Entered into an agreement with Champion to acquire all its remaining interest in Attikamagen on Sept 30, 2013 for 2M shares plus warrants & NSRNote 3: A portion of the Astray has been spun out to Northern Star which will assume the exploration obligations while Century maintains a 20% therein

Century Iron Mines Corporation (TSX: FER)

3

4

NI 43-101 Resources Hayot

Joyce (DSO)

Full Moon

Duncan Total

Measured &

indicated- 10.0 Mt 7.3 Bt 1.1 Bt 8.4 Bt

Inferred 1.7 Bt 5.6 Mt 8.7 Bt 0.6 Bt 11.0 Bt

132

4

2

1

(in B

illio

ns o

r mill

ion

of to

nnes

)

Iron Ore ProjectsMulti Bt resources under management

Full Moon

Hayot

JoyceDSO

Page 7: Century Iron Mines Corporate Presentation - November 2013

7Century Iron Mines Corporation

Century is the top six largest attributable contained iron ore resource in the world (without Vale)

Century is trading at the lowest EV per contained Fe tonne

Century has more equity interest in DSO and taconite projects with a production target of 2015

Source: Company data, Credit Suisse estimates

Credit Suisse Analysis

Page 8: Century Iron Mines Corporate Presentation - November 2013

Two Prong Strategy: Short-Term Low Capital Intensity DSO & Long-Term High Volume Project Development Approach to Maximize Economic & Strategic Value to China …

8Century Iron Mines Corporation

2015 2016 2017 2018 20190

5

10

15

20

25

30

DSO Taconite

High Volume

DSO

Taco

nite

Full Moon

Joyce DSO

ProductionMtpa Target

1 2 3

4

Closest distanceTarget 2 Mtpa

On capex <$100M

(conceptual illustration only. Does not represent Company’s current actual assessment of its resource(1)

Taconite DSO

DSO

1.7Bt (Inferred) 1

2

3

TSH & QNSL Rail to Sept Iles

7.3 Bt (M&I)8.7 Bt (Inferred)

DSO

4

Taconite

10.0 Mt (M&I)5.6 Mt (Inferred)

Labrador Trough

18km

20 km

(1) Please see cautionary disclaimer statement on page 2

DSO

Page 9: Century Iron Mines Corporate Presentation - November 2013

9

Progressive DSO Project DevelopmentLow capital intensity, short development cycle …

Joyce Lake Schefferville W. Lac Le Fer Other DSOs

Ownership 60% WISCO – 40%

100% 60% WISCO – 40%

100% 60%

Resource M+I: 10Mt Inf: 5.6Mt Continued drilling

to expand/upgrade resource

Geophysics Orientation drilling Resource drill

ready

Geophysics Orientation drilling Resource drill

ready

Exploration

PEA BFS Target completion 2014

Succeeding DSO projects to sustain a continuous DSO operation with movable equipment designed for possible minimal capex

EIS In progress Target completion

2014

Production 2Mtpa (target) Targeting 2015-16

Infrastructure Joyce Lake spur rail / road infrastructure will benefit subsequent DSO projects Existing capacity can accommodate

Off take 60% WISCO 100% available 60% WISCO 60% WISCO

Century Iron Mines Corporation

Page 10: Century Iron Mines Corporate Presentation - November 2013

10Century Iron Mines Corporation

Joyce Lake DSO Deposit

Resource Category Million Tonnes Grade Tfe%

Measured 5.0 60.44

Indicated 5.0 58.44

Total M & I 10.0 59.45

Inferred 5.6 55.78

NI 43-101 Resource Estimate

Resource model based on 118 holes Assay coverage contains 3,854 assay intervals totaling

11,739 metres Covering an area of 1.1Km along strike & 600m width The mineralization remains open to the south Continuing exploration to expand resource

SGS Mineral Resource Estimate Summary(at 50% Fe cutoff – March 7, 2013)

Resource Highlights

Page 11: Century Iron Mines Corporate Presentation - November 2013

11Century Iron Mines Corporation

Joyce Lake DSO DepositPreliminary Economic Assessment (March 25, 2013)

Pre-tax Post-tax

Payback 2.5 years 2.6 years

IRR 37% 27%

NPV @8% $90.4M $51.8M

Based on 100% ownership of the project

2 Mtpa of lump (35%) and sinter fines (65%) production at 62.2% Fe with a mine life of 4 years (first year: 1Mt) as a first stage

Total estimated capital costs (excluding sustaining capital) of C$96.6 million

Total estimated operating costs (loaded in a ship at Port of Sept-Iles) of C$62.8 per tonne of lump and sinter fines

Note: The PEA is preliminary in nature. It may incorporate inferred mineral resources which are considered too geologically speculative to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There can be no certainty that the estimates contained in the PEA will be realized. In additional, mineral resources that are not mineral reserves do not have demonstrated economic viability.

Page 12: Century Iron Mines Corporate Presentation - November 2013

12Century Iron Mines Corporation

Joyce Lake Preliminary Economic Assessment

FOB Operating Cost (Note 1) $/tonne

Mine 21.40

Crushing & Screening Plant 4.35

General and Administration 6.85

Product Hauling 2.82

Rail Yard Operation 0.86

Rail Transportation 22.36

Port Handling 4.16

Total Opex FOB, Sept Iles 62.80

Capital Cost $ millions

Joyce Lake Mine 10.8

Crushing & Screening Plant 10.5

Railroad and Yard (1) 10.3Rail Cars (2) 20.4Haulage Road and Infrastructure (1) 24.3Trucks (2) 6.7

Total Direct Cost 83.0

Indirect Cost at 10% of Direct(excluding mobile equipment)

5.6

Contingency 10% of Direct Cost 8.0

Total Project Cost 96.6

Highlights:

Infrastructure benefiting future operation (1) 34.3Trucks & Ore Cars (leasable) (2) 27.0

.. A bite-size project within reach of balance sheet & market cap

Highlights:

2.0 Mtpa of lump (35%) and sinter fines (65%) production at 62.2% Fe with a mine life of 4 years (first year: 1Mt) as a first stage

PEA FOB price assumptions:Lump $ 108/tSinter fines $ 93/t

Note 1: Opex is estimated on FOB Sept Iles basisNote 2: Based on 100% ownership of the project

Page 13: Century Iron Mines Corporate Presentation - November 2013

13

Post-PEA Drilling Update on JoycePotentially expanding & upgrading resource ...

Century Iron Mines Corporation

Page 14: Century Iron Mines Corporate Presentation - November 2013

Joy 13-140: 3-39 m at 60.27% TFe

Joy 13-120, 134, 138 and 147

Joy 13-130: 132-159 m @61.30%; : Joy 13-143: 126-168 m 63.93% Fe ;Joy 13-145: 3-48m @ 57.40% and 108-126 m 66.12% Fe

Section 1N

.. Recent positive post PEA drilling results suggest potential expansion of resource ..

Post-PEA drilling results announced Oct 7, 2013 reporting expected high grade mineralization & new high grade intercepts (some within 70m from PEA pit limits)

Potential expansion and upgrade of current resource estimate

An addition drilling program to further test the potential of the extension of Joyce commenced September

14Century Iron Mines Corporation

Page 15: Century Iron Mines Corporate Presentation - November 2013

15

Joyce Lake Development Roadmap

2013 2014 2015 2016

  Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2

Environmental Studies                  

Feasibility (BFS)                 

Permitting & IBA               

Construction & Overburden removal / Mining & Pre-Production                        

Commercial Production & Shipping                       

Century Iron Mines Corporation

Page 16: Century Iron Mines Corporate Presentation - November 2013

Helluva DSO Target

P8 DSO Target

P9 DSO Target

P2 DSO Target

P3 DSO Target

P1 DSO Target

Hayot North DSO Target

Joyce LK DSO Deposit

Joyce South DSO Target

Prudhomme DSO Target

Red Dragon DSO Target

Wishart No. 4 DSO Target

DSO Beyond Joyce LakeA number of DSO targets under exploration

Page 17: Century Iron Mines Corporate Presentation - November 2013

Additional DSO TargetsSunny Lake – Lac Le Fer Section

Prospect #2 Prospect #3

Sample Fe % Mn %SiO2

% Sample Fe %Mn %

SiO2 %

5376 48.6 0.05 31.82 5383 56.4 0.36 15.1

5377 41.1 0.06 35.92 5384 59 0.08 15.42

5378 46.9 0.11 22.28 5385 59.5 0.11 13.9

5379 46.6 0.05 31.78 5386 41.4 0.25 37.48

5380 48.5 0.69 31.68 5387 67.1 0.22 1.88

5381 59.7 0.14 2.76 5388 58.4 0.11 10.65

Prospect #4 5391 50.8 0.55 23.4

9957 66.8 0.3 2.06 5392 63.8 0.22 5.91

9958 55.8 0.06 18.54 5394 57.7 0.17 14.08

Prospect #5 5395 59.4 0.11 13.12

9759 43.3 0.21 34.9 5396 58.8 0.22 4.03

9760 43.5 0.03 35.61 5397 63.3 0.17 6.06

9761 60.2 0.06 11.52 5398 62.1 1.83 5.34

9762 58.8 0.24 13.87 5399 57.6 0.28 14.24

Prospect #6 5400 42.8 4.32 28.43

9763 44.9 2.88 34.02 9751 61.2 2.67 6.98

9764 61.5 0.12 7.93 9752 67.4 0.1 2.27

9765 23.8 0.24 59.9 9753 66.6 0.23 3.46

9766 38.3 0.12 40.51 9961 63.1 0.28 7.72

9767 61.5 0.21 2.67 Fe samples > 55%*

9768 56.7 0.09 10.09

* Assay results from 1951 exploration program (M. Tremblay)

Century Iron Mines Corporation 17

Page 18: Century Iron Mines Corporate Presentation - November 2013

LLF P3 DSO Target, Mag and Gravity

Completed HolesProposed Holes

Completed Holes

LLF-P3-00462.3% FeT/45.0m(ended in IF)

LLF P3 DSOLLF-P3-004 Assay result

Sample ID From to

Length (m)

TFe %

502509 3 9 6 9.48

502510 9 12 3 52.5

502511 12 15 3 56.3

502513 15 18 3 58.5

502514 18 21 3 60.5

502515 21 24 3 60.8

502516 24 27 3 64.5

502517 27 30 3 64.7

502518 30 33 3 64.6

502519 33 36 3 65.3

502520 36 39 3 64.6

502521 39 42 3 64.7

502522 42 45 3 66.2

502523 45 48 3 65.5

502524 48 51 3 67.1

502526 51 54 3 58.3

Naturally enriched >62% grade & good thickness

Century Iron Mines Corporation 18

Page 19: Century Iron Mines Corporate Presentation - November 2013

Schefferville West: Red Dragon DSO target

Re-trenching and exploratory drilling

Three gravity anomalous belts are delineated, length at 5 – 12 km long; corresponding to leached BIF;

Two correlated to magnetic low; High grade mineralized ore

exposed; Two RC holes encountered 12-15

m >60% TFe zone.

Redmount

Century Iron Mines Corporation 19

Page 20: Century Iron Mines Corporate Presentation - November 2013

20

Drill Section SWI 12-1203

9-54 m: 54.33%Incld: 9-24 m: 65.82%

Century Iron Mines Corporation

Page 21: Century Iron Mines Corporate Presentation - November 2013

Full Moon Taconite Deposit, Rainy LakeFirst Resource Estimate by SRK

Century Iron Mines Corporation 21

Resource model based on 124 diamond holes on 22,900 meters (out of total 2010-12 total drilling of 30,941 meters over 148 diamond holes;

An update resource estimate to come upon complete results on all holes modeled & analyzed

11km strike length (open both to the north & south of the Deposit) & up to 4km across

Combined true thickness of iron ore units often exceeds 200m

* Mineral Resource Evaluation, Full Moon Taconite Iron Deposit SRK Consulting,, Jean-Francois Couture, December 6, 2012

Mineral Resource Estimate* (at 20% Fe cutoff – December 6, 2012)

Resource category Billion tonnes Grade TFe%

Indicated 7.260 30.18

Inferred 8.694 29.86

Resource Highlights

Page 22: Century Iron Mines Corporate Presentation - November 2013

Full Moon Taconite DepositThicker than usual, better economics

28.4%341m

30.2%224m

30.4%272m

29.1%234m

31.3%152m

29.0%115m

27.9%242m

2.75km Section Line 0Usual taconite

thickness 100m

Century Iron Mines Corporation 22

Iron

Ore U

nits

Iro

n O

re U

nit

sIr

on

Ore

Un

its

100m

Page 23: Century Iron Mines Corporate Presentation - November 2013

Transportation – Iron Projects in Labrador Trough

Sept-Iles

Pointe-Noire

Port-Cartier

QN

S&

LCFC

Ross Bay Junction

Mont-Wright

Labrador City

Schefferville

Sunny Lake

Attikamagen

Tshiuetin Rail

Railway Distance:

Schefferville to Ross Bay Junction: 217 km

Ross Bay Junction to Sept-Iles: 356 km

Labrador City to Ross Bay Jct: 58 km

Mont-Wright to Port Cartier: 400 km0 50 100 km

Adriana (WISCO)

Altius Projects

QNS&L (Common Carrier) runs 573km from Schefferville to Sept-Iles

Attikamagen to Schefferville: 15km (from the closest point)

Joyce Lake targets 1-3Mtpa DSO• Using existing Railroad

infrastructures: QNS&L & TSR Rainy Lake (Full Moon) targets

20Mtpa+

Full Moon Lac Le Fer

Joyce & Hayot

Century Iron Mines Corporation 23

Page 24: Century Iron Mines Corporate Presentation - November 2013

Port of Sept-Iles: 50Mtpa Expansion

Main port is over 23.2 m in depth

Accommodates Capesize or larger vessels

Fully equipped, can be operated year-round

50Mtpa $220M expansion plan to be completed in 2014 with more than $100M in commitments from miners and governments, $55M from federal government

Alumina Plant

Multi user Berth

By Port of Sept-Iles

• Natural shelters, deep water for year-round access by iron ore ships

• Ability to expand as required

0 500 m

IOC Port

Century Iron Mines Corporation 24

Page 25: Century Iron Mines Corporate Presentation - November 2013

Sandy ChimPresident

& CEO Hubert Vallee SVP, Mine Development & Logistics

Ghislain Arel, Mining

Robert Girardin, Logistics

Ivan Wong, SVP Corp Finance & Project Development

Rebecca Ng, CFO

Ricky Chan, VP, Planning & Operations

Claude Britt, Chief Geologist

Michael Skutezky, General Counsel & Corporate Secretary

Bob Leshchyshen, VP, IR & Corporate Development

ManagementGearing up for 2015-6 production & beyond

Century Iron Mines Corporation 25

New iron ore mine development

Resource discovery & development

China steel mill & iron ore trading

Capital market & building materials

Iron ore mining & logistic operations

Co

re c

om

pet

ence

, exp

erti

se

and

exp

erie

nce

Page 26: Century Iron Mines Corporate Presentation - November 2013

Low capital intensity 2Mtpa DSO production Joyce Lake Project within reach of balance sheet and market cap

Global Fortune 500 Strategic Partners (WISCO & Minmetals) / Off-takers from China – A proxy for China

Top 10 iron resource company in the world providing economic and strategic value for China … second phase longer term development on high volume taconite projects

Management with track record of performance – managed through the last part of cycle well to put company in a strong cash position in a very tough market

Trading below working capital / cash in JV – large valuation gap

Summary

Century Iron Mines Corporation 26

Page 27: Century Iron Mines Corporate Presentation - November 2013

27

What sets Century Iron Mines apart

Projects

•Labrador Trough•Long history as mining camp with operating infrastructure

•Joyce Lake (DSO)•PEA BFS•~20km to Schefferville / rail

•EIS permit 2014•Targets 2Mtpa on >$100M capex – bite size

•Other DSO targets & high volume deposits along strike•Global Fortune 500 Strategic partners: WISCO & Minmetals

Products

•DSO (Direct Shipping Ore) – •One of most popular products for blast furnaces

•Off-take: 60% WISCO, with balance available to other strategic partners (Minmetals) & traders•Concentrate & pellet products over the long term

Competitiveness

•Bite-size DSO projects•Low capital intensity•Quick to production

•Reasonable cost•2Mtpa – existing infrastructure can accommodate

Capital

•$>$100M capex•$50M working capital on balance sheet•Received an additional $20M (Sept) from WISCO by JV

Century Iron Mines Corporation

Page 28: Century Iron Mines Corporate Presentation - November 2013

28Century Iron Mines Corporation

Appendices

Page 29: Century Iron Mines Corporate Presentation - November 2013

29Century Iron Mines Corporation

Comparable Table (based on total resources)

Prepared by: Bob Leshchyshen, MBA, CFA

Companies in the Labrador Trough NI43-101 Resources Disclosed

Stock (Mils) tonnes Proven & Measure Symbol Probable & Indicated Inferred Total

ADI Adriana Resources Inc. (1) 0 20,640 6,840 27,480NML New Millennium Capital Corp. (2) 5,750 14,016 4,405 24,171CEV Cap-Ex Ventures Ltd. 0 0 7,200 7,200

CHM Champion Iron Mines Ltd. 0 858 3,997 4,854FEO Oceanic Iron Ore 1,359 1,268 193 2,821ADV Alderon Resource Corp. (7) 669 1,275 523 2,466LIM Labrador Iron Mines Holdings Limited 0 44.6 5.2 49.8

Major Iron CompaniesMT ArcelorMittal (including Baffinland) 2,340 4,903 1,510 8,753CLF Cliffs Natural Resources (3) 649 1,976 711 3,336RIO Rio Tinto plc (IOC) (5) 1,374 1,091 1,372 3,837

FER Century Iron Mines Corp. (4)Duncan Lake 0 1,051 563 1,614Joyce Lake 0 10.0 5.6 15.6Hayot Lake 0 0 1,723 1,723Rainy Lake 0 7,260 8,694 15,953Total FER 0 8,321 10,985 19,306

Total all companies 12,141 54,391 37,741 104,273

(1) Adriana: Wisco has 60% interest in the property

(2) New Millennium: Tata Steel has 80% interest in all the properties except Lac Ritchie

(3) Cliffs: WISCO has a 25% interest in Bloom Lake

(4) Century: Auguyva has 35% in Duncan Lake and WISCO has 40% interest in all of the other properties.

(5) Rio Tinto plc has a 58.72% in IOC, Mistibishi has 26.18% interest and Labrador Iron Ore Royalty Corp. has a 15.1% interest.

(6) Alderon: Hebei Iron & Steel Group Co.

Ltd has a 25% interest in Kami iron project.

Page 30: Century Iron Mines Corporate Presentation - November 2013

30Century Iron Mines Corporation

Comparable Table (based on attributable resources)

Prepared by: Bob Leshchyshen, MBA, CFA

Companies in the Labrador Trough Attributable Tonnes Contained FE tonnes Fe% Fe% Fe%

Stock (Mils) tonnes Proven & Measure Proven & Measure Proven & Measure Symbol NI43-101 Resource Estimates Probable & Indicated Inferred Probable & Indicated Inferred Probable & Indicated Inferred Total

ADI Adriana Resources Inc. (1) 0 6,145 2,038 0 28.94% 30.40% 0 2,402 832 3,234NML New Millennium Capital Corp. (2) 1,757 4,121 1,303 30.55% 29.63% 30.31% 351 2,493 813 3,657CEV Cap-Ex Ventures Ltd. 0 0 2,102 0 0 29.20% 0 0 2,102 2,102

CHM Champion Iron Mines Ltd. 0 172 1,670 0 30.58% 28.49% 0 277 1,105 1,382FEO Oceanic Iron Ore 438 410 64 32.21% 32.36% 32.90% 438 410 64 912ADV Alderon Resource Corp. (7) 197 378 154 29.52% 29.68% 29.45% 148 284 115 547LIM Labrador Iron Mines Holdings Limited 0.0 25.2 2.9 0 56.45% 55.42% 0.0 25.2 2.9 28.0

Major Iron CompaniesMT ArcelorMittal (including Baffinland) 809 1,471 603 34.56% 30.00% 39.94% 809 1,471 603 2,883CLF Cliffs Natural Resources (3) 198 595 20 30.55% 30.11% 28.60% 155 534 20 709RIO Rio Tinto plc (IOC) (5) 522 417 521 38.00% 38.21% 38.00% 307 245 306 858

FER Century Iron Mines Corp. (4)Duncan Lake 0 256 139 0 24.39% 24.70% 0 167 90 257Joyce Lake 5.9 3.1 0 59.45% 55.78% 0.0 3.6 1.9 5.4Hayot Lake 0 0 538 0 0 31.25% 0 0 323 323Rainy Lake 0 2,191 2,596 0 30.18% 29.86% 0 1,315 1,558 2,872Total FER 0 2,453 3,277 0 29.45% 29.81% 0 1,485 1,973 3,458

Total all companies 3,921 16,189 11,755 32.30% 29.76% 31.15% 2,207 9,625 7,937 19,769

Page 31: Century Iron Mines Corporate Presentation - November 2013

31Century Iron Mines Corporation

Comparable Table (based on attributable resources)

Prepared by: Bob Leshchyshen, MBA, CFA

FE EV P&P FE Close Market Enterprise M&I EV/ Total* EV/

Stock 13-Nov 52 week Shares Cap Cash Value mils FE mils FEsymbol Name 2013 Low High O/S (mils) $mils ($mils) ($mils) tonnes tonne tonnes tonne

NML New Millennium Capital Corp. $0.71 $0.60 $1.63 180.0 $127.8 $47.2 $85.4 2,844.0 $0.030 3,657.2 $0.023ADI Adriana Resources Inc. $0.19 $0.175 $0.495 157.6 $29.9 $50.9 ($21.0) 2,401.9 ($0.009) 3,233.6 ($0.006)CEV Cap-Ex Ventures Ltd. $0.055 $0.055 $0.50 97.8 $5.4 $1.7 $3.9 0.0 n/a 2,102.4 $0.002CHM Champion Iron Mines Ltd. $0.22 $0.155 $0.81 137.4 $30.2 $3.1 $27.1 276.7 $0.098 1,381.7 $0.020FEO Oceanic Iron Ore Corp. $0.095 $0.08 $0.20 196.6 $18.7 $4.2 $17.6 848.2 $0.021 911.9 $0.019ADV Alderon Resource Corp. $1.77 $0.88 $2.23 130.1 $230.4 $113.8 $116.5 431.7 $0.270 547.2 $0.213

$442.4 $221.0 $229.5 6,802.6 $0.034 11,834.0 $0.019

FER Century Iron Mines Corp. $0.485 $0.30 $1.05 94.2 $45.7 $33.7 $12.0 1,484.8 $0.008 3,457.6 $0.003

* Total includes Proven and Probable, Measure and Indicated and Inferred Resources.

Page 32: Century Iron Mines Corporate Presentation - November 2013

32Century Iron Mines Corporation

Century Iron Mines CorporationBob Leshchyshen

VP, Corporate Development and IR(416) 977-3188 Ext. 109

[email protected]

CHF Investor RelationsRobin Cook

Senior Account Manager(416) 868-1079 Ext. 228

[email protected]

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