TSX: FER TSX: FER www.centuryiron.com www.centuryiron.com Corporate Presentation November 2012 Sustainable Development Century Iron Mines Corporation The largest iron ore resource (attributed) & iron claims owner & developer
May 12, 2015
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.
Century Iron Mines 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%
Century Iron Mines Corporation
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%
Century Iron Mines Corporation 7
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
Century Iron Mines Corporation
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
Century Iron Mines Corporation
(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
11Century Iron Mines Corporation
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)
12Century Iron Mines Corporation
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
Century Iron Mines Corporation 13
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)
Century Iron Mines Corporation 14
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 15
Full Moon Taconite Deposit, Rainy LakeFirst Resource Estimate by SRK
Century Iron Mines Corporation 16
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
Century Iron Mines Corporation 17
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
Century Iron Mines Corporation 18
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
Century Iron Mines Corporation 19
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
Century Iron Mines Corporation 20
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
Century Iron Mines Corporation 21
22Century Iron Mines Corporation
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
23Century Iron Mines Corporation
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)
24Century Iron Mines Corporation
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
25Century Iron Mines Corporation
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
Century Iron Mines Corporation 26
New iron ore mine development
Resource discovery & development
China steel mill & iron ore trading
Capital market & building materials
Iron ore mining & logistic operation
Cor
e co
mpe
tenc
e, e
xper
tise
and
succ
essf
ul e
xper
ienc
e
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
Century Iron Mines Corporation 27
28Century Iron Mines Corporation
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.
29Century Iron Mines Corporation
Century Iron Mines Corp.Bob Leshchyshen
VP, Corporate Development and IR(416) 977-3188 Ext. 109
CHF Investor RelationsRobin Cook
Senior Account Manager(416) 868-1079 Ext. 228
Contact Information