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BLACK IRON SIGNS MOU WITH GLENCORE FOR FUNDING CONSTRUCTION OF THE SHYMANIVSKE IRON ORE PROJECT

TORONTO, CANADA, February 20, 2019 – Black Iron Inc. (“Black Iron”) (TSX: BKI; OTC: BKIRF; FRANKFURT: BIN) is pleased to announce the signing of a non-binding Memorandum of Understanding (the “MOU”) with a subsidiary of Glencore plc (“Glencore”), pursuant to which the parties agree to engage in formal negotiations to finance the construction of the