Century Iron Mines Corporation TSX: FER-- March 2014

Corporation Presentation March 2014

Century TSX: FER www.centuryiron.com

IRON MINES CORPORATION

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

Financial Highlights & Capital Structure Financial highlights (Dec 31, 2013) Cash and bank $33.2M Receivables (accounts & tax) $23.6M

Total corporate working capital $56.8M JV (Attikamagen) cash (in addition to corporate working capital) $22.3M

Exploration and evaluation assets $26.1M

Investment in a joint venture $59.5M

NAV $148.2M

Capital structure (Dec 31, 2013) Shares outstanding 98,804,071 Fully diluted Options/Grants: 10,354,000 Warrants: 1,000,000

110,168,071

Market capitalization (@ share price closed at $0.58, Mar 12, 2014)

$57.3M

Share structure Founding shareholders 34.1% Management 17.7% WISCO (23.5%) MinMetals (4.7%)

28.2%

Public shareholders 20.0% Total 100.0%

3 Century Iron Mines Corporation

4

Strategic Partnerships – A Proxy for China

Joint Venture

Attikamagen Project

100%

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 2)

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: 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)

2

4

NI 43-101 Resources Hayot Joyce

(DSO) Full

Moon Duncan Total

Measured & indicated - 24.3 Mt 7.3 Bt 1.1 Bt 8.4 Bt

Inferred 1.7 Bt 0.8 Mt 8.7 Bt 0.6 Bt 11.0 Bt

3 2 1

4

1

3

(in B

illio

ns o

r mill

ions

of t

onne

s)

Iron Ore Projects Multi Bt resources under management

Full Moon

Hayot

Joyce DSO


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

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


0

5

10

15

20

25

30

2015 2016 2017 2018 2019

DSO Taconite

High Volume

DSO

Full Moon

Joyce DSO

Production Mtpa Target

1 2 3

4

Closest distance Target 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

24.3 Mt (M&I) 0.8 Mt (Inferred)

Labrador Trough

18km

(1) Please see cautionary disclaimer statement on page 2

DSO

Progressive DSO Project Development Low 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: 24.3Mt Inf: 0.8Mt 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 EA

EIS Target completion 2014

EA Target completion 2015

Production 2Mtpa (target) Targeting 2015-16

Infrastructure Joyce Lake road and rail loop for all DSO and future projects Existing rail and port capacity can accommodate

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


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Joyce Lake DSO Deposit 143% increase in M&I resource estimate

SGS Mineral Resource Estimate Comparison Summary (at 50% Fe cutoff, in tonnes )

Resource Classification

Previous Estimate

March 20132

Current Estimate

February 2014 % Change

Measured (“M”) 5,050,000 18,650,000 + 269

Indicated (“I”) 4,950,000 5,640,000 + 14

M+I 10,000,000 24,290,000 + 143

Inferred 5,600,000 840,000 - 85

1. at 50% Fe cut-off 2. NI 43-101 Technical Report, Joyce Lake DSO Iron Project, Newfoundland & Labrador, April 18, 2013, filed on SEDAR

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Post-PEA Drilling Update on Joyce


Resource Highlights

M+I resource estimate of 24.3 Mt Resource model based on 172 holes

and 18,845 metres An aerial extent of 1.1 km strike &

600m width The mineralization remains open to

the south along strike

February 2014 Estimate Tonnes3 % Fe % SiO2 % Al2O3 % Mn

Measured (“M”) 18,650,000 58.67 13.02 0.55 0.81

Indicated (“I”) 5,640,000 58.14 14.39 0.51 0.54

M+I 24,290,000 58.55 13.34 0.54 0.75

Inferred 840,000 62.00 8.43 0.43 0.78 1. Mineral resources are not mineral reserves and do not have demonstrated economic viability. 2. Within Mineralized envelope, % Fe cut-off on individual blocks. The base case for public disclosure DSO is the statement with cut-off of 50% Fe. 3. Variable SG density (equation derived from core measurements), tonnes rounded to nearest 10,000.


Joyce Lake DSO Deposit Preliminary 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

Moving into a planned BFS process based on the new resource

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.

PEA based on 10,000,000 tonnes estimated March 25, 2013

Resource Classification

March 20131

Estimate February 2014

Estimate %

Change

Measured (“M”) 5,050,000 18,650,000 + 269

Indicated (“I”) 4,950,000 5,640,000 + 14

M+I 10,000,000 24,290,000 + 143

Inferred 5,600,000 840,000 - 85 1. At 50% Fe Cutoff, in tonnes 2. NI 43-101 Technical Report, Joyce Lake DSO Iron Project, Newfoundland & Labrador, April 18, 2013, filed on SEDAR.

Post PEA Resource Estimate Comparison


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) 10.3 Rail Cars (2) 20.4 Haulage Road and Infrastructure (1) 24.3 Trucks (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) 34.3 Trucks & 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/t Sinter fines $ 93/t Note 1: Opex is estimated on FOB Sept Iles basis Note 2: Based on 100% ownership of the project

Joyce Lake Development Roadmap

2013 2014 2015 2016

Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2

Environmental Studies

Feasibility (BFS)

EA/Permitting & IBA Construction & Overburden removal/ Mining & Pre-Production

Commercial Production & Shipping


2014 Catalysts

Completion of Environmental Impact Study on Joyce Lake Bankable Feasibility Study for Joyce Lake

Helluva

Joyce Lake

Prudhomme

DSO Beyond Joyce Lake A number of DSO targets under exploration

Lac Le Fer Area

Joyce Lake Area

Schefferville West Area

LLF P3 DSO Target, Mag and Gravity

Completed Holes Proposed Holes

Completed Holes

LLF-P3-004 62.3% 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 14

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.


Redmond

Easier access and close to the railway

Close to LIM’s Redmond Mine Further exploration planned in

2014

Full Moon Taconite Deposit, Rainy Lake First 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 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

Transportation – Iron Projects in Labrador Trough

Sept-Iles

Pointe-Noire Port-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 km 0 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


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


Sandy Chim President

& CEO

Peter Jones, Executive VP, Mine Development & Logistics

Ivan Wong, SVP Corp Finance & Project Development

Rebecca Ng, CFO

Claude Britt, Chief Geologist

Michael Skutezky, General Counsel & Corporate Secretary

Bob Leshchyshen, VP, IR & Corporate Development

Management Gearing up for 2015-6 production & beyond


New iron ore mine development

Resource discovery & development

China steel mill & iron ore trading

Capital market & building materials

Iron ore mining & logistic operations

Cor

e co

mpe

tenc

e, e

xper

tise

an

d ex

perie

nce

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


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



Appendices


Comparable Table (based on total resources)

Prepared by: Bob Leshchyshen, MBA, CFA

(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.

Companies in the Labrador Trough NI43-101 Resources Disclosed

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

ADI Adriana Resources Inc. (1) 0 20,640 6,840 27,480NML New Millennium Capital Corp. (2) 5,750 14,048 4,405 24,203CEV 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. (6) 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 24.3 0.8 25.1Hayot Lake 0 0 1,723 1,723Rainy Lake 0 7,260 8,694 15,953Total FER 0 8,335 10,980 19,315

Total all companies 12,141 54,437 37,736 104,314


Comparable Table (based on attributable resources)


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 4,140 1,303 30.55% 29.63% 30.31% 351 2,496 813 3,661CEV 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. (6) 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 14.2 0.5 0 59.45% 55.78% 0.0 8.7 0.3 9.0Hayot 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 2,462 3,274 0 29.45% 29.81% 0 1,490 1,971 3,461

Total all companies 3,921 16,216 11,753 32.30% 29.79% 31.14% 2,207 9,634 7,935 19,777


Comparable Table (based on attributable resources)


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

Stock 12-Mar 52 week Shares Cap Cash Value mils FE mils FEsymbol Name 2014 Low High O/S (mils) $mils ($mils) ($mils) tonnes tonne tonnes tonne

NML New Millennium Capital Corp. $0.45 $0.47 $1.17 180.0 $81.0 $8.0 $73.0 2,847.8 $0.026 3,660.9 $0.020ADI Adriana Resources Inc. $0.225 $0.155 $0.385 157.6 $35.4 $50.9 ($15.5) 2,401.9 ($0.006) 3,233.6 ($0.005)CEV Cap-Ex Ventures Ltd. $0.045 $0.040 $0.285 97.8 $4.4 $1.0 $3.5 0.0 n/a 2,102.4 $0.002CHM Champion Iron Mines Ltd. $0.34 $0.155 $0.43 137.9 $46.9 $8.1 $38.8 276.7 $0.140 1,381.7 $0.028FEO Oceanic Iron Ore Corp. $0.095 $0.08 $0.20 196.6 $18.7 $8.1 $13.7 848.2 $0.016 911.9 $0.015ADV Alderon Resource Corp. $1.62 $0.88 $2.13 130.1 $210.8 $113.8 $97.0 431.7 $0.225 547.2 $0.177

$397.3 $190.0 $210.5 6,806.3 $0.031 11,837.7 $0.018

FER Century Iron Mines Corp. $0.58 $0.30 $0.72 98.9 $57.3 $33.2 $24.1 1,489.9 $0.016 3,461.2 $0.007

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


Century Iron Mines Corporation Bob Leshchyshen

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

[email protected]

CHF Investor Relations Robin Cook

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

[email protected]

Contact Information

mailto:[email protected]

mailto:[email protected]