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Century Iron Mines Corporation Corporate Presentation
1. Century Iron Mines Corporation
Corporate Presentation – September 2012
www.centuryiron.com Sustainable Development TSX: FER
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 2
3. Iron Ore Price Trend in Context
US$
200
Price level correction over the past year due to
180
very unfavourable international economic & the
160
resulted slowing down of growth in China
140
120
Current price level is still historical high when
100
compared with pre-financial crisis levels
80
Historical annually negotiated benchmark FOB price
60
40
Spot
China CIF Iron Ore
20 Fines 62% Fe Spot
Price in US$
0
May-83
May-86
May-89
May-92
May-95
May-98
May-01
May-04
May-07
May-10
Feb-84
Feb-87
Feb-90
Feb-93
Feb-96
Feb-99
Feb-02
Feb-05
Feb-08
Feb-11
Nov-84
Nov-87
Nov-90
Nov-93
Nov-96
Nov-99
Nov-02
Nov-05
Nov-08
Nov-11
Aug-82
Aug-85
Aug-88
Aug-91
Aug-94
Aug-97
Aug-00
Aug-03
Aug-06
Aug-09
Aug-12
14000.00
12000.00
10000.00
8000.00
6000.00
4000.00
2000.00
0.00
Century Iron Mines Corporation Source: Index Mundi, TSI 3
4. Global Crude Steel Growth Trend 2001 - 2021
Mtpa
2500 ROW China India
Over the next 10 years:
The world will grow faster in the last 813 2303
China will still grow 90% as much as the last 92 164
Developing economies will contribute over
2000 90% of growth 475
Developing economies driving growth
640 1490 246 1158
1500 51 72
532 683
1000 Other
850 21 57 developing 177
151 economies
500 Developed 981
economies 69
678 735
0
2001 2001-2011 2011 2012-2021 2021 (CRU)
Growth Growth (CRU)
Century Iron Mines Corporation Source: World Steel Association, CRU, Century 4
5. $10 Billion in Canadian Iron Ore in One Year
Acquisitions, Investments, Expansions
1 2 3 4 Century Iron (FER)
$240M including investment by WISCO & MinMetals
5 Consolidated Thompson (CLM.TO)
$5B acquisition by Cliffs Natural Resources
12 Iron Ore Company (IOC)
$1B expansion from 17Mtpa to 25Mtpa at Carol Lake
13 ArcelorMittal (MT)
$2.1B expansion from 14Mtpa to 24Mtpa at Mt. Wright
7 Tata (TTM)
$300M DSO, $50M (BFS) + $5B (Capex) Taconite
investment at Millennium Iron Range
9 Adriana Resources (ADI.V)
$120M investment by WISCO
10 Baffinland Iron Mines Corp. (BIM.TO)
$600M investment by ArcelorMittal
11 Advanced Explorations Inc. (AXI.V)
$50m+$1B investment into Roche Bay
TOTAL: $10 Billion +
Century Iron Mines Corporation 5
6. Financial Highlights & Capital Structure
Financial highlights (June 30, 2012)
Cash and cash equivalents $54,437,941
Exploration and evaluation assets $55,122,267
Capital structure (Sept 5, 2012)
Shares outstanding 94,864,071
Warrants and options outstanding 8,954,027
Fully diluted 103,818,098
Share Price $1.25
Market capitalization (approximately) $120 million
Share structure
Founding shareholders and management 53.94%
WISCO (approx. 25%) and MinMetals (5%) – Strategic Partners 30.00%
Public shareholders 16.06%
Total 100.00%
Century Iron Mines Corporation 6
7. Structure and Project Overview
Corporate Structure Iron Ore Projects
Approx. Approx. 3
WISCO 25% 5%
International Minmetals
Resources Century Iron Exploration &
Development Mines Development
& Investment Corporation (Luxembourg)
Ltd (PRC) (TSX: FER) Limited S.à.r.l
$120M 40% 60%
100%
to earn in
40% JVs
Off take: 60% Four projects being
Procure up to acquired from
70% capex by Altius Minerals Inc.
debt Joint Venture (TSX: ALS) 4
Labrador Iron Mines Holdings Ltd. Projects
Champion 40-49% Augyva Mining
35-49%
Minerals Inc. Resources Inc.
(TSX: CHM) 56-60% 100% 51-65% (TSXV: AUV)
(Note 2) (Note 1)
Attikamagen Sunny Lake Duncan Lake James Bay Area
Project 2 Project 3 Project 1
Note 1: Currently a 51% interest with an option to increase to a 65% interest under an
option and joint venture agreement with Augyva Mining Resources Inc.
Note 2: Currently a 56% interest with an option to increase to a 60% interest under an Duncan Lake
Option/JV Agreement with Champion Minerals Inc.
Century Iron Mines Corporation 7
8. Corporate Vision & Project Profile
To become one of the largest
iron ore producers in Canada Largest claim
holder in the iron
Development Product ore camp of
Project / Location Target production Canada
focus target
Labrador Trough
Joyce Lake, DSO: Lump 3-4 years
Lac Le Fer high grade low Sinter fines From 3mtpa
Schefferville W volume DSO Super fines to 10mtpa
Labrador Iron Mines Holdings Ltd. Projects
Rainy Lake Taconite: Pellets 5-6 years
(Full Moon) high tonnage Concentrate From 20mtpa
Hayot lower grade & up
James Bay Area
James Bay
Duncan Lake Magnetite: Pellets 5-6 years
high volume From 10mtpa
lower grade & up Duncan Lake
Century Iron Mines Corporation 8
9. 2012-3 Exploration Milestones
Meters Approximate
Resources
Completed up to meters to
Project calculation PEA
about mid- complete in
target
August 2012
Published on
Duncan 54,306 Q4 / Q1 2013
August 27, 2012
Q3 & further
Full Moon 24,117 4,000 2013
updated 2013
Joyce Lake DSO 11,769 1,000 Q4 2013
LLF P3 DSO 826 2,000 2013 2013
Hayot Taconite 6,286 Q3
Altius Gravity, EM, mapping and orientation drilling
Century Iron Mines Corporation 9
10. Financing Strategy Illustration
An User-Banker Model With Strategic Partner
6000 Production Capex: $5B
5150 Shared pro-rata JV
600
5000 financing with SOE
900 12%
In millions of $
Fund source from
18% SOE strategic
4000 partnership
3500
Total project
70% development &
3000
production cost
FER financing
2000 Profile raising $600M
BFS
1000 70% debt financing
60-70% product
presold
50 100
0 Lead order of $900M
from partner (top up)
FER valuation
supported by BFS &
very substantial
resources/reserves
Century Iron Mines Corporation 10
11. A Winning Formula for Success
Corporate Interest JV/Project Interest Market
30% Chinese Strategic 40% Chinese SOEs 60-70%
Partners
Chinese
70% Canadian & public 60% Century (TSX: FER) off-take
investors
Up to 70% financing by debt Accretive &
capital by end user/banker Equity enhancing
Securing success
• Financial structure:
• Capex requirement to enter production of only 13%
• Balance funded by end-user/banker
• 60-70% of end product pre-sold
• Access to technical competence of major international
companies with successful experience in mega-projects
• Being a Canadian company with a substantial Chinese interest
Century Iron Mines Corporation 11
12. Century Iron Mines Projects
1 Duncan Lake Project
• Magnetite
• Over 1Bt measured & indicated
• Over 500 Mt inferred
2 Sunny Lake Project
• DSO & Taconite Potential*
• On the same strike with NML & ADI
3 Attikamagen Project
• DSO & Taconite Potential*
• On the same strike with NML & ADI
4 Altius Project (4)
• DSO & Taconite Potential*
* The potential quantity and grade is conceptual in nature. There has
been insufficient exploration to define a mineral resource and it is
uncertain if further exploration will result in the target being delineated
as a mineral resource.
Century Iron Mines Corporation 12
13. Duncan Lake Iron Project
Well-Established Infrastructure
10 km south of LG2 regional airport
50 km south of Radisson
LG1 & LG2 of Hydro Quebec within 100 km
120 km (approx.) from James Bay
Highway 109 goes through the property
connecting Matagami and Radisson
Mineral Resource Estimate Summary
(at 16% Fe cutoff – updated Aug 27, 2012)
Duncan
Project Resource Million Grade
category tonnes %
Measured 406 23.9
Indicated 645 24.7
Subtotal 1,050 24.4
Inferred 563 24.7
Century Iron Mines Corporation 13
14. Duncan Lake NI43-101 Iron Ore Resources
Duncan Lake Iron Ore Property Mineral Resources at 16% Fe cutoff
(Update August 27, 2012)
2010
Mineral Resource Million DTWR
Fe % DT Fe % NI43-101
Class Tonnes %
(Mt)
Measured 406 23.9 26.8 67.3 5.7
Indicated 645 24.7 28.1 66.9 25.6
Measured &
1,050 24.4 26.5 67.0 31.3
Indicated
Inferred 563 24.7 28.0 66.5 821.1
(Note 1: DTWR % is the Davis Tube Weight Recovery; DT Fe % is the Davis Tube Fe Concentrate Grade)
(Note 2: Total tonnage may vary due to rounding)
(Note 3: The effective date of the mineral resource estimate is August 24 th, 2012)
(Note 4: Resource estimate is based on all six Duncan Lake zones)
Century Iron Mines Corporation 14
15. Duncan Lake – Exploration Programs
• 51% JV and operator of the Duncan Lake Project
• Option agreement to earn up to 65%
Completed Exploration Programs
Magnetic Map of Duncan Lake Area
1973 drilling = 22 boreholes for
■ 99 claims 4,143m on deposits 3, 4, and 6
■ 4,615 hectares Completed 54,467m of drilling over
■ 6 banded iron 177 holes (2008-2012)
formation
deposits NI43-101 Mineral Resource
identified along a Deposit 6
Estimate updated by Met-Chem &
25km belt
published August 27, 2012.
Over 30 times in the M+I categories
(over 1Bt) than last estimate, with
over 500Mt in Inferred
In Progress
Preliminary economic assessment
by Met-Chem
Completed Environmental Scoping
study; now performing Environmental
Baseline study
On-going internal logistics study
Century Iron Mines Corporation 15
16. Duncan Lake: Canadian Competitive Advantage
ABUNDANT WATER AND ELECTRICITY IN THE AREA
Water
Canada, particularly Quebec, enjoys
abundant water, which is important for
concentration operations
Electricity
Located near Hydro-Québec’s James Bay
Robert-Bourassa hydro-electric power
plant on La Grande River, the world’s 10th
largest, which will provide low-cost energy
for the project
Direct Benefits:
• Reduced cost of construction and operation of facilities to supply water and electricity
• Long-term competitive advantage for concentration and pelletizing operations
Century Iron Mines Corporation 16
17. Duncan Lake Project – Land Transportation
Kuujjuaraapik
Pipeline Solution in a Robert-Bourassa, the world’s 10th - (about
200km)
largest hydroelectric power plant
Well-Studied Area
A planned 150km slurry pipeline1
between the hydro plant in
Radisson and the slurry receptor
LG2
plant on James Bay.
LG1
Based on historic data and
compared with similar existing
pipeline systems in commercial DUNCAN
operations, the operating cost PROJECT
is estimated at US$1.00~1.25 per
tonne2
Plan Nord identifies a proposed
nearby deep-water port location at
Kuujjuaraapik (200km north of
Note: 1) Where the pipeline crosses junctions or rivers, it will be constructed
Duncan Project) 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.
Century Iron Mines Corporation 17
18. Duncan Lake Project – Oceanic Shipping
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
Kuujjuaraapik Ongoing Studies
• Identified two locations for port site
• Extensive shipping study is underway
• Partnering with shipping and engineering
companies to work out logistic options
Century Iron Mines Corporation 18
19. Schefferville Projects – Location and Geology
PROVEN CLASSIC IRON FORMATION IN A MINING CAMP
Adrianna (WorldLink & WISCO)
Otelnuk MI&I 6.26 Bt @
Deposit*
29.16% Fe (average)
Labrador
Trough
Central Section, Labrador
Trough
Knob Lake Group
Sunny Lake Project
Rainy Lake Section Full Moon: Taconite
Sokoman Iron Formation,
equivalent to Wabush Iron
Formation at South Sunny Lake Project
New Millennium (Tata Steel) Lac Le Fer Section Prospect 3: DSO
MI&I 3.46 Bt @ 31.24%
Fe (average) KéMag* Attikamagen
Joyce Lake: DSO
MI&I 5.13 Bt @ 29.4% LabMag*
Fe (average)
DSO Projects:
Schefferville
Century’s
Tata Steel investing
up to C$300m Projects
* 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 cannot be relied upon.
Century Iron Mines Corporation 19
20. Sunny Lake Iron Project
• 530 mineral claims, covering
Rainy Lake 25,692 hectares in Labrador
Full Moon: Taconite Trough region
• On strike from KeMag LaMag
deposits (8-9Bt) to the south
and Lac Otelnuk (6Bt) to the
Lac Le Fer north.
• Rainy Lake – 2011: drilled 31
holes 6,387m , 2012: drilled 85
holes 16,866m = 116 holes
and 23,253 m to date
• Lac Le Fer – in 2011 drilled 2
RC* holes 198m and 5 DDH**
Prospect 3: DSO holes 627m
*RC – Reverse Circulation
**DDH Diamond Drilling
* The potential quantity and grade is conceptual in nature. There has been insufficient exploration to define a mineral
resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
Century Iron Mines Corporation 20
21. Attikamagen Iron Project
• Up to 60% joint venture with TSX-listed
Champion Minerals Inc.
• Early-stage exploration property: 1,022
mining claims, approx. 34,348 hectares in
the Labrador Trough region (net 20,609
hectares to the company)
• Thin overburden with visible outcrops
• Joyce Lake – 2010: drilled 4 holes, 362m
2011: drilled 40 holes, 5,159m 2012: drilled
74 holes 7,217m = 118 holes and 12,738m
to date
• Hayot Lake – 2010: drilled 6 holes 561m
2011: drilled 41 holes totalling 5,725m = 47
holes and 6,286m total to date
Century Iron Mines Corporation 21
22. Attikamagen – Joyce Lake: DSO
Target 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-11-09 2 126 123 46.64
includes 9 18 9 61.26
and 54 69 15 64.80
Total holes assayed: 4
* Core lengths are down whole length and not true widths of the
mineral zones.
More typical grades & thickness
Selected Composite Assay results
Joyce Lake From To Core* Grade
Hole No. (m) (m) Length (m) FE%
JOY-11-10 3 123 120 42.63
includes 66 78 12 67.70
JOY-11-12 3 156 153 45.12
includes 129 156 27 60.15
JOY-11-14 3 63 60 45.68
includes 15 30 15 64.47
JOY-11-23 2 129 127 50.65
includes 48 81 33 61.15
and 102 114 12 66.28
Total holes assayed: 16
Century Iron Mines Corporation 22
23. Joyce Lake (Attikamagen Project)
Section Line 3N
59.2%/9.0m 55.3%/93.0 45.6%/30.0m
m
Century Iron Mines Corporation 23
26. Full Moon: Potential Taconite
Resource Calculation in progress
Program confirming grades & thickness
Selected Composite Assay results
Rainy Lake [Full Moon]
From To Core* Grade
Hole No. (m) (m) Length (m) FE%
RL-11-0001 75.5 318.0 242.5 27.9
RL-11-0002 30.9 372.0 341.1 28.4
RL-11-0003 24.2 248.0 223.8 30.2
RL-11-0004 27.0 228.4 201.4 28.4
Total holes assayed: 8
* Core lengths are down whole length and not true
widths of the minerals zones.
More typical grade & thickness
Selected Composite Assay results
Rainy Lake [Full Moon]
From To Core* Grade
Hole No. (m) (m) Length (m) FE%
RL-11-0801 67.2 304.0 236.8 30.1
RL-11-0401 5.4 323.6 318.2 29.5
RL-11-0402 4.5 269.4 264.9 31.0
RL-11-0404 15.0 267.0 252.0 30.3
RL-11-0004 13.0 285.4 272.4 30.4
Total holes assayed: 23
Century Iron Mines Corporation 26
27. Full Moon
Unusual Taconite Thickness!
2.75km Section Line 0
29.0% 31.3% 29.1% 30.4% 30.2% 28.4% 27.9%
115m 152m 234m 272m 224m 341m 242m
Century Iron Mines Corporation 27
28. Hayot Lake: Another Potential Taconite
Resource
calculation in
progress
2010: drilled
6 holes
561m
2011: drilled
41 holes
totalling
5,725m
= 47 holes
and 6,286m
total to date
Century Iron Mines Corporation 28
29. Hayot Lake Drill Hole Cross-
Section L12S 30.7% 32.2%
33.6% 32.3 /104m /114m
/94m %/92
m
DDH No Hay 11-21a Hay 11-07 Hay 10-06 Hay 11-10
Length (m) T Fe % Length (m) T Fe % Thick (m) T Fe % Length (m) T Fe %
OB 9.00 10.5 6.00 6
Mss 123.4 39.7 62.3
LC 23.00 22.2 23.3 13.9 5.70 21.1 24 19.06
JUIF 32.30 30.0 31.8 30.14 30.40 30.71 38.9 33.13
URC 61.30 34.6 41.7 34.06 34.80 34.33 38.50 35.01
PGC 13 32.8 11.80 31.47 14.80 32.42
LRGC >3 37.05 15.70 27.60 15.60 28.60
LIF 42.60 25.40 19.90 25.10
Depth 249.00 160.00 147.00 220.00
JUIF-LRGC 93.60 86.50 92.70 107.80
Century Iron Mines Corporation 29
30. Further Potentials from Altius Projects
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 as 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.
Century Iron Mines Corporation 30
31. Transportation – Iron Projects in Labrador
• QNS&L (Common Carrier) runs
Trough 573km from Schefferville to Sept-
Adriana Iles
(WISCO) Full Moon
Sunny Lake
• Attikamagen to Schefferville: 15km
(from the closest point)
Attikamagen Joyce Lake: DSO • Joyce Lake targets 3-5Mtpa DSO
Schefferville Altius
• Using existing Railroad
Projects infrastructures: QNS&L , TSR
Ross Bay • Rainy Lake (Full Moon) targets
Junction
Labrador City
20Mtpa+
• New Railroad required
• Partnership, Producers
Mont-Wright
Government and Aboriginal
Sept-Iles
Pointe-Noire
Port-Cartier
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
0 50 100 km
Mont-Wright to Port Cartier: 400 km
Century Iron Mines Corporation 31
32. 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
IOC Port to 400,000 dwt
Multi user Berth
By Port of Sept Iles Main port is over 23.2 m in
depth
Accommodates Capesize or
Alumina larger vessels
Plant
Fully equipped, can be operated
year-round
50Mtpa expansion plan on
$220M to be completed in 2014
• Natural shelters, deep water for & supported by federal
year round access by iron ore
0 500 m ships government for $55M & miners
• Ability to expand as required for over $100M commitments
Century Iron Mines Corporation 32
33. Investment Attractions
Very high potential upside value underpinning high EV/t & DCF valuations
– Successful management track records: mining & capital markets
– Capital structure & access supporting capital intensive iron ore projects
– Multi-billion tonne resources with infrastructure
– Production cash flow + substantial growth
– Equity enhancing leverage in place
– Potential consolidation
Essential strategic alignment & alliance between Canadian iron ore
resource & China
– Strategic partners’ interest (corp & JV)
– Over 60% off take sold to China
Canadian management & capital structure with significant Chinese
interest
– Good traction for its currency to peer group (Altius) and market in general
– Best of both worlds: Canadian image with Chinese support
34. Solid Fundamentals
Principal Management & Technical Competence
Successful business builders and value creators
Successful mine developers and operators
Successful capital market expertise & following
Advanced Exploration and Development Funding
Fully funded beyond BFS for most advanced project
Fully funded to build out additional resources
Production Capital and Financing
WISCO/MinMetals strategic partnership
Successful capital market fundraising
Captive End-user in Largest Market
60-70% off take in place from Strategic Partners & banker
Century Iron Mines Corporation 34
35. Contact Information
Century Iron Mines Corp.
Bob Leshchyshen
VP, Corporate Development and IR
(416) 977-3188 Ext. 109
bob.leshchyshen@centuryiron.com
CHF Investor Relations
Robin Cook
Senior Account Manager
(416) 868-1079 Ext. 228
robin@chfir.com
Century Iron Mines Corporation 35