Century Iron Mines Corporation

TSX: FERTSX: FERwww.centuryiron.comwww.centuryiron.com

Corporate Presentation November 2012

Sustainable Development

Century Iron Mines Corporation

The largest iron ore resource (attributed) & iron claims owner & developer

2

Forward Looking StatementExcept 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 bywords such as “plan”, “project”; “intend”, “believe”, “anticipate”, “estimate” and other similar words, orstatements that certain events or conditions “may” or “will” occur. Forward-looking statements are basedon the opinions and estimates of management at the date the statements are made, and are subject to avariety of risks and uncertainties and other factors that could cause actual events or results to differmaterially from those anticipated in the forward-looking statements. Factors that could cause actualresults to differ materially from those in forward-looking statements include market prices for metals, theconclusions of detailed feasibility and technical analyses, lower than expected grades and quantities ofmineralization and resources, mining rates and recovery rates and the lack of availability of necessarycapital, which may not be available to the Corporation on terms acceptable to it or at all, changes in andthe effect of government policies with respect to mineral exploration and exploitation, the ability to obtainrequired permits, delays in exploration and development projects and the possibility of adversedevelopments in the financial markets generally, potential environmental issues and liabilities associatedwith exploration and development and mining activities. The Corporation is also subject to the specificrisks inherent in the mining business as well as general economic and business conditions. TheCorporation undertakes no obligation to update forward-looking information if circumstances ormanagement’s estimates should change except as required by law. The reader is cautioned not to placeundue reliance on forward-looking statements. More detailed information about potential factors thatcould affect financial results is included in the documents that may be filed from time to time with theCanadian securities regulatory authorities by the Corporation.


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US$

per

tonn

e

Monthly Average Spot Price (1)

(62%Fe CFR Tianjin)

Iron Ore Price Trend Update

Century Iron Mines Corporation 3

Price pressure: Construction industry

slowdown—result of months of property price inflation controls

Low steel prices squeezing margins on mills

Destocking—accelerated by transformation from CIF spot to physical spot

No recovery in export markets (especially Europe)

Positive outlook: 1 trillion RMB fiscal program

announced New leadership continuing

domestic/fixed asset investment‐driven policy

Prices still at historic highs compared with pre‐crisis level

(1) FOB annual benchmark price prior to Q4 2008; thereafter CIF spot price

Spot CRF TianjinFOB

$122/t (16 Nov, 2012)

$122/t (16 Nov, 2012)

China and India (half of world production) are growing and the other half shrinking overall

Developing countries taking the lead going forward

Half the world is growing

(‘000 tonnes)Jan-Aug

2011Jan-Aug

2012Increase

%

China 470,855 476,615 1.22%India 47,956 50,696 5.71%ROW 493,377 490,948 -0.49%

Global 1,012,188 1,018,259 0.60%

1.22%

5.71%

-0.49%0.60%

-1.00%

0.00%

1.00%

2.00%

3.00%

4.00%

5.00%

6.00%

7.00%

China India ROW Global

Crude Steel Production Increase 2011 vs. 2012

(Jan – Aug)

4Century Iron Mines Corporation

678

57

735

246

981151

532 683

475

1158

21

51 72

92 164

0

500

1000

1500

2000

2500

2001 2001-2011Growth

2011 2012-2021Growth (CRU)

2021 (CRU)

ROW China India

Developing Countries Driving Future Steel Growth

850

640 1490

2303813

Mtpa

Other developingeconomies

177

Developedeconomies 69

Over the next 10 years: Developing economies drive growth Ex-China developing countries contribute 1/3

of global growth and > 1/2 of China’s growth for the same period

China, though slowing down, still contributes 58% of tonnage growth

Over the next 10 years: Developing economies drive growth Ex-China developing countries contribute 1/3

of global growth and > 1/2 of China’s growth for the same period

China, though slowing down, still contributes 58% of tonnage growth

Source: World Steel Association, CRU, Century Century Iron Mines Corporation 5

China’s growing reliance on importsBuying 70% of seaborne iron ore

Under the current Five Year Plan, “China targets to import 50% of its iron ore from Chinese-owned mines

elsewhere in the world”(CISA)

6

0.0%10.0%20.0%30.0%40.0%50.0%60.0%70.0%80.0%90.0%

Iron ore imports to China as % of total consumption—12-month rolling

comparison

2010-11 2011-1261.4 65.6%61.4%


Financial Highlights & Capital Structure

Financial highlights (Sept. 30, 2012)Cash and cash equivalents(Closed first WISCO JV, received $20M Sept 27, 2012)

$41,442,432

Exploration and evaluation assetsInvestment in joint venture

$42,846,544$59,548,098

Capital structure (Nov 13, 2012)Shares outstanding 94,864,071

Warrants and options (@$2.92) outstanding 8,954,027

Fully diluted 103,818,098

Share Price $1.03

Market capitalization (approximately) $98 millionShare structureFounding shareholders and management (voluntary lock-up) 53.94%

WISCO (approx. 25%) and MinMetals (5%) – Strategic Partners 30.00%

Public shareholders 16.06%

Total 100.00%


8

Corporate Structure & Project

Joint Venture

Champion Iron Mines Ltd. (TSX: CHM)

Attikamagen Project

40-44% 56-60%(Note 2)

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

WISCOInternational Resources

Development & Investment

Ltd (PRC)

Approx. 5%

Approx. 25%

60%

Sunny Lake Project

Duncan Lake Project

Augyva Mining Resources Inc.

(TSXV: AUV)

35-49%

100%

Four projects acquired from

Altius Minerals Inc.(TSX: ALS)

100%

51-65%(Note 1)

40%

James Bay Area James Bay Area

Duncan Lake

Note 1: Currently a 51% registered interest has funded to a 65% interest under an option and joint venture agreement with Augyva Mining Resources Inc.Note 2: Currently a 56% registered interest and has funded to a 60% interest under an Option/JV Agreement with Champion Iron Mines Inc.Note 1: Currently a 51% registered interest has funded to a 65% interest under an option and joint venture agreement with Augyva Mining Resources Inc.Note 2: Currently a 56% registered interest and has funded to a 60% interest under an Option/JV Agreement with Champion Iron Mines Inc.

CenturyIron Mines Corporation (TSX: FER)

3

4

$120M to earn in 40% JVs

60% Off-take 70% capex to

fund in debt

NI 43-101 Resources Hayot Full Moon Duncan Total

Measured & indicated - 7.3 Bt 1.1 Bt 8.4 Bt

Inferred 1.7 Bt 8.7 Bt 0.6 Bt 11.0 Bt

132

4

2

1

(in Billions of ton

nes)

Iron Ore Projects20Bt resources under management

Full Moon

Hayot

Joyce

Profile raising $600M BFS 70% debt financing 60-70% product presold Lead order of $900M from

partner (top up) FER valuation supported by

BFS & very substantial resources/reserves

Production Capex: $5BShared pro-rata JV financing with SOE

Financing Strategy IllustrationA User-Banker Model With Strategic Partner

9

in m

illio

ns o

f $

FER financing

Total project development & production cost

70%

18%

12%

50 100

3500

900600 5150

0

1000

2000

3000

4000

5000

6000

Fund source fromSOE strategicpartnership


0

5

10

15

20

25

30

2014 2015 2016 2017 2018

DSO Taconite

High Volume

Project Development Roadmap A strategy of progressive development of 18Bt well located resources Executed by a mining team with outstanding track record Targeting a 100Mpta strategic partner & 700Mtpa end user country

10

DSODSO

Full MoonFull Moon

JoyceJoyce

ProductionMtpa Target

12

3

4

Closest distanceTarget 1mtpa


(conceptual illustration)

From closest low capex high grade DSO projects (target 2015) to high volume & capex taconite project along strikeTaconiteDSO

Taconite

18.5km

Labrador Tough

Schefferville

DSO

DSO

Hayot

1.7Bt (Inferred)

1

2

3

TSH &QNSL Rail

to Sept Iles

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

JoyceDSO

4Full Moon

Lac Le Fer

Taconite


Schefferville Projects: Location & Geology

Central Section, Labrador TroughKnob Lake GroupSokoman Iron Formation, equivalent to Wabush Iron Formation at South

Adriana (WorldLink & WISCO)

New Millennium (Tata Steel)

Schefferville

Otelnuk Deposit*

Labrador Trough

Lac Le Fer Section

Attikamagen

DSO Projects:Tata Steel investing up to C$300m

Full Moon DepositRainy Lake Section

Century’s Projects

LabMag*

KéMag*

MI&I 11.35 Bt @ 28.9% Fe (average)

MI&I 3.46 Bt @ 31.24%Fe (average)

MI&I 5.13 Bt @ 29.4%Fe (average)

Proven classic iron formation in a mining camp

* Information regarding reserves, resources and production capacity are from management and publicly available sources including press releases and NI 43-101 technical reports filed on www.sedar.com. Century has not confirmed the resource and reserve data and it cannot be relied upon.

Joyce Lake: DSOHayot Lake: Taconite

Prospect 3: DSO

Full Moon: Taconite

Hayot 1.72 Bt @ 31.25% Fe (average)

7.3 Bt @ 33.18% Fe (M&I) 8.7 Bt @ 29.86% Fe (Inf)


Attikamagen – Joyce Lake: DSOTarget 2015 Production Confirming grades & thickness

Selected Composite Assay results Joyce Lake From To Core* Grade

Hole No. (m) (m) Length (m) FE%JOY-11-06 3 142 139 52.80

includes 96 138 42 64.19 JOY-11-07 12 93 91 52.46

includes 12 54 42 65.26 JOY-11-23 2 129 127 50.65

includes 48 81 33 61.15 and 102 114 12 66.28

2011: drilled 40 holes totalling 5,159 m* Core lengths are down hole length and not true widths of the mineral zones.

More typical grades & thicknessSelected Composite Assay results

Joyce Lake From To Core* GradeHole No. (m) (m) Length (m) FE%

JOY-12-85 90 132 42 59.80 JOY-12-103 63 102 39 61.02 JOY-12-104 57 123 66 62.75 JOY-12-105 72 93 21 66.40 JOY-12-107 39 75 36 63.52

JOY-12-110A 105 129 24 62.05 JOY-12-111 93 150 57 66.72 JOY-12-117 117 150 33 63.41

2012: drilled 74 holes totalling 7,807 m

L4N L3N L2N L1N

L0

L5N

Drill Sections at Joyce Lake DSO Prospect

Line 3+50N

Line 2N

Line 3N

Line 4N

OBD

Mixed TFe 32%

Leached DSO TFe > 64%

Line 4+50N

Trench near Joy 12-65


Sunny Lake – Lac Le Fer Section (DSO Potential)

Prospect #2 Prospect #3

Sample Fe % Mn %SiO2

% Sample Fe %Mn %

SiO2 %

5376 48.6 0.05 31.82 5383 56.4 0.36 15.15377 41.1 0.06 35.92 5384 59 0.08 15.425378 46.9 0.11 22.28 5385 59.5 0.11 13.95379 46.6 0.05 31.78 5386 41.4 0.25 37.485380 48.5 0.69 31.68 5387 67.1 0.22 1.885381 59.7 0.14 2.76 5388 58.4 0.11 10.65

Prospect #4 5391 50.8 0.55 23.49957 66.8 0.3 2.06 5392 63.8 0.22 5.919958 55.8 0.06 18.54 5394 57.7 0.17 14.08

Prospect #5 5395 59.4 0.11 13.129759 43.3 0.21 34.9 5396 58.8 0.22 4.039760 43.5 0.03 35.61 5397 63.3 0.17 6.069761 60.2 0.06 11.52 5398 62.1 1.83 5.349762 58.8 0.24 13.87 5399 57.6 0.28 14.24

Prospect #6 5400 42.8 4.32 28.439763 44.9 2.88 34.02 9751 61.2 2.67 6.989764 61.5 0.12 7.93 9752 67.4 0.1 2.279765 23.8 0.24 59.9 9753 66.6 0.23 3.469766 38.3 0.12 40.51 9961 63.1 0.28 7.729767 61.5 0.21 2.67 Fe samples > 55%*

9768 56.7 0.09 10.09

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


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


Full Moon Taconite Deposit, Rainy LakeFirst Resource Estimate by SRK


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 oftenexceeds 200m

SRK Mineral Resource Estimate Summary(at 20% Fe cutoff – October 22, 2012)

Resource category Billion tonnes Grade TFe%

Indicated 7.260 30.18Inferred 8.694 29.86

Resource Highlights

Full Moon 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


Iron Ore U

nitsIron O

re Units

Iron

Ore

Uni

tsIro

n O

re U

nits

Iron

Ore

Uni

tsIro

n O

re U

nits

Hayot Lake Iron Project

DomainVolume Quantity Grade

(Mm3) Mt SG TFe %

Inferred Mineral Resources

LC 60.8 178.8 2.94 23.92

JUIF 125.6 414.9 3.31 31.99

URC 162.6 536.3 3.3 32.89

PGC 100.2 328.8 3.28 32.10

LRGC 80.5 264.4 3.28 31.27

TOTAL 529.6 1,723 3.25 31.25

Mineral Resource Statement Sept 25, 2012

Reported at a cut-off grade of 20% total iron inside a conceptual pit envelope optimized considering reasonable open pit mining, processing and selling technical parameters and costs benchmark against similar taconite iron projects and a selling price of US$110 per dry metric tonne of iron concentrate.

LCJUIF

URCPGC LRGC


The Altius iron ore package has been divided into four broad groups based on the geology and iron ore target type: Schefferville: potential for direct-shipping ore

(DSO) comprised of soft red hematite-goethite typical of what was previously mined (and currently being re-opened) in the Schefferville camp; also potential for taconite.

Astray: potential for large resources of taconite as well as DSO comprised of high-grade specularite-rich DSO similar to Sawyer lake.

Menihek: target is large tonnage magnetite-rich taconite similar in structure and geological setting to the large Labmag/Kemag deposits to the north.

Grenville: targets are polydeformed, recrystallized magnetite-specularite taconite akin to the deposits mined by IOCC at Carol Lake.

Further Potential of Altius Projects


Transportation – Iron Projects in Labrador Trough

Sept-Iles

Pointe-NoirePort-Cartier

Ross Bay Junction

Mont-Wright

Labrador City

Schefferville

Sunny Lake

Attikamagen

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) runs573km 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 à, TSR

Rainy Lake (Full Moon) targets 20Mtpa+

Full Moon Lac Le Fer

Joyce & Hayot


Port of Sept-Iles: 50Mtpa Expansion

Largest iron ore exporting port in Canada - 25.1Mt in 2010 compared to 19.2Mt in 2009 Port Zone consists of a 10 km

sheltered port zone, with a natural ocean basin for ships up to 400,000 dwt 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



Duncan Lake Iron Project

10 km south of LG2 regional airport 50 km south of Radisson Hydro Quebec’s LG1 & LG2 within 100 km 120 km (approx.) from James Bay Highway 109 connects Matagami and

Radisson through the property

Mineral Resource Estimate Summary(at 16% Fe cutoff – updated Aug 27, 2012)

Resourcecategory

Million tonnes

Grade %

Measured 406 23.9

Indicated 645 24.7

Subtotal 1,050 24.4

Inferred 563 24.7

Well-Established Infrastructure

Duncan Project


Pipeline Solution in a Well-Studied Area

A planned 150km slurry pipeline1

between the hydro plant in Radisson and the slurry receptor plant on James Bay.

Based on historic data and compared with similar existing pipeline systems in commercial operations, the operating cost is estimated at US$1.00~1.25 per tonne2

Quebec government plans identify a proposed nearby deep-water port location at Kuujjuaraapik (200km north of Duncan Project) Note: 1) Where the pipeline crosses junctions or rivers, it will be constructed

above-ground with insulation or heat tracing techniques to reduce the negative operational impact of extreme cold. 2) Based on publicly available sources and management calculations.

Duncan Lake Project – Land Transportation

Robert-Bourassa, the world’s 10th -largest hydroelectric power plant Robert-Bourassa, the world’s 10th -largest hydroelectric power plant

DUNCAN PROJECT

LG1

LG2

Kuujjuaraapik (about 200km)


Shipping Considerations Commercial shipping in Hudson Bay has

been well established for 70+ years (e.g. Port of Churchill) James Bay water depths permit deep-sea

marine terminal for Capesize vessels, 80-100 metres in Hudson Bay. Up to 150 days of ice-free shipping, year-

round shipping with ice class vessels Possible future direct North-West Passage

to Asia

Ongoing Studies

Identified two locations for port site

Extensive shipping study is underway

Partnering with shipping and engineering companies to work out logistic options

Duncan Lake Project – Oceanic Shipping

KuujjuaraapikKuujjuaraapik

ProjectMeters

Completed (September)

Meters to complete in

2012

Resources calculation target PEA

Duncan 54,306 Completed 1.05(M+I)+.56(I) BtAug 27, 2012 Q4 / Q1 2013

Full Moon 26,187 2,5007.3 (M+I)+8.7 (I) Bt

Oct 22, 2012 Update Q1 2013

Q2‐Q3 2013

Joyce Lake DSO 13,329 1,000 Q4 2013

LLF P3 DSO 826 7,000 * 2013 2013

Hayot Taconite 6,286 Completed 1.72Bt (I)Sept 25, 2012

To be developed with Full Moon in concert

Altius Gravity, EM, mapping and orientation drilling

2012-3 Exploration Milestones2015 Target Production: Joyce

2015P

roduction from Joyce enhancing

production from other targets thereafter

Simultaneous parallel exploration / development strategy Achieving near-term cash flow & enhancing future world scale development of taconite / magnetite

* Planned meters subject to agreement with local First Nations and to be executed over fall 2012 to 2013


Sandy ChimPresident

& CEO

Hubert ValleeSPV, Mine Development & Logistics

Ghislain Arel, Mine Development

Robert Girardin, Logistics

Ivan Wong, CFO

Ricky Chan, VP, Planning & Operations

Claude Britt, Chief Geologist

Michael Skutezky, General Counsel & Corporate Secretary

Bob Leshchyshen, VP, IR & Corporate Development

Management For SuccessMine development & logistics in place 2012 for 2015 production


New iron ore mine development

Resource discovery & development

China steel mill & iron ore trading

Capital market & building materials

Iron ore mining & logistic operation

Cor

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mpe

tenc

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xper

tise

and

succ

essf

ul e

xper

ienc

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EV per tonne in-situ under favourable conditions:• Secured off take (60-70%) – captive end-user market• Leverage on capex in place (up to 70% debt) – end-user as banker• Chinese SOEs strategic partners – equity & JV asset interests

Multi-billion tonne resources & growing (starting with 1.6Bt)• Largest claimholding in proven world class iron ore camp• With near-term production of target 2015 from 1 Mtpa• With resource backing expansion to 20 Mtpa and beyond

Strong strategic partners: WISCO & Minmetal – unusual sponsorship of 2 Global Fortune 500 Chinese SOEs – equity, debt & market support A development company with an A team of Canadian iron ore

development & mining expertise executing and targeting near-term production & cash flow

Enterprise Value Building Highlights



Comparable Table (based on attributable resources)

Prepared by: Bob Leshchyshen, MBA, CFA

Iron Ore Industry in Labrador Trough FE

EV P&P FEWith NI43‐101 Resources Close Market Enterprise M&I EV/ Total* EV/

Stock 14‐Nov 52 week Shares Cap Value mils FE mils FEsymbol Name 2012 Low High O/S (mils) $mils ($mils) tonnes tonne tonnes tonneADV Alderon Resource Corp. $1.46 $1.41 $3.83 129.9 $189.7 $172.4 333.5 $0.517 415.3 $0.415NML New Millennium Capital Corp. (2) $1.21 $1.14 $3.23 178.3 $215.7 $116.1 1,759.3 $0.066 2,326.5 $0.050CHM Champion Iron Mines Ltd. (3) $0.46 $0.47 $2.27 119.3 $54.9 $28.9 172.5 $0.168 1,842.1 $0.016ADI Adriana Resources Inc. (1) $0.43 $0.43 $1.38 157.5 $66.9 $19.1 1,314.0 $0.015 2,820.6 $0.007FEO Oceanic Iron Ore Corp. $0.16 $0.13 $0.45 174.7 $27.1 $25.0 848.2 $0.029 911.9 $0.027

$554.4 $361.5 4,427.5 $0.082 8,316.4 $0.043

FER Century Iron Mines Corp. (4) $1.05 $0.92 $2.35 94.9 $99.6 $45.2 1,414.5 $0.032 3,220.1 $0.014

* Total includes Proven and Probable, Measure and Indicated and Inferred Resources.(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) Champion: Century and WISCO together have 60% interest in Hayot Lake property.(4) Centruy: Champion Iron Mines has 40% interest in Hayot Lake, Augyva Mining Resources has 35% in Duncan Lake and WISCO has 40% interest in all of the properties.


Century Iron Mines Corp.Bob 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]

Contact Information

Economy & Finance

Century Iron Mines Corporation