Century Iron Mines Corporate Presentation - November 2013

1. Q1 ended June 30, 2013
Century
IRON MINES CORPORATION
Corporation Presentation
November 2013
TSX: FER www.centuryiron.com

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. The momentum of the Chinese economy continues ... In August
2013, its steel production surpassed the rest of the world for the
first time …. and the rest of the world will recover for sure
Global Crude Steel Production
China's Share V.S. Rest of the World
(in million tonnes)
World Exc. China
China
China's Share (in percentage)
900
800
700
657 649
690
661 665
720 699 722
748
799 788
826
856
815
780
807
831
60%
794
769
>50%
50%
655
40%
600
500
30%
400
300
200
100
95
222
152 182
101 109 115 124 129
273
356
421
490 512
577
637
683 717
775 795
20%
10%
0%
-
2013 August month & YTD figures are annualized
Century Iron Mines Corporation
_
3

4. A stabilizing spot market is driving higher long-term price
forecasts on record high iron ore import to China @
74.6Mt in Sept 2013 with low port inventory @ 73.3Mt …
250
30/09/13
31/08/13
31/07/13
30/06/13
31/05/13
30/04/13
31/03/13
28/02/13
31/01/13
31/12/12
30/11/12
31/10/12
30/09/12
31/08/12
31/07/12
30/06/12
31/05/12
30/04/12
31/03/12
29/02/12
31/01/12
31/12/11
30/11/11
31/10/11
30/09/11
31/08/11
31/07/11
30/06/11
31/05/11
30/04/11
31/03/11
28/02/11
31/01/11
31/12/10
30/11/10
31/10/10
30/09/10
31/08/10
31/07/10
30/06/10
31/05/10
30/04/10
31/03/10
28/02/10
29/01/10
29/12/09
29/11/09
29/10/09
29/09/09
29/08/09
29/07/09
29/06/09
29/05/09
0
$133.6
150
4
Century Iron Mines Corporation
Brazil FOB
TSI FE 62% Spot
C3(Brazil-China)
Closing Price
@October
14, 2013
TSI Fe 62% Daily Spot Price CFR China VS Brazil Daily FOB
US $
200
$26.7
100
$106.09
50

5. … Large valuation gap –
trading below working capital & JV cash …
Financial highlights (Sept. 30, 2013 except otherwise stated)
Cash and cash equivalents
Total working capital
$33.7M
$54.0M
Cash in JV for project development not included above
Cash received from WISCO per JV agreement on September 19, 2013
$ 2.9M
$20.0M
Capital structure (Nov. 13, 2013)
Shares outstanding
94,187,071
Options (@$2.92 - $4.00) outstanding
9,870,000
Fully diluted
104,175,571
Share Price
$0.485
Market Capitalization (approximately)
$46 million
Share structure
Founding shareholders and directors (excluding management)
Management
(Note 1)
(Note 1)
32.0%
22.7%
WISCO (approx. 24.6% & 60% Off take) and Minmetals (4.9%) – Strategic Partners
29.5%
Public Shareholders
15.8%
Total
Century Iron Mines Corporation
100.0%
(Note 1: Approx. 52.9% subject to voluntary min. lockup of 3 yrs from May 2011 to production)
5

6. Strategic Partnerships – A Proxy for China
Iron Ore Projects
WISCO
International
Resources
Development
& Investment
Ltd (PRC)
Approx.
25%
5%
Century
Interest
+60%
off-take
Joint Venture
(in Billions or million of tonnes)
Exploration &
Development
(Luxembourg)
Limited S.à.r.l
Corporation
(TSX: FER)
60%
NSR
Hayot
2
Four projects
acquired from
Altius Minerals Inc.
(TSX: ALS) (Note 3) 4
35%
Note 2
Sunny Lake
Project
2
3
Joyce
DSO
100%
65%
100%
100%
(Note 1)
(Note 2)
Attikamagen
Project
Full Moon
Minmetals
Iron Mines
40%
Champion Iron
Mines Ltd.
(TSX: CHM)
Multi Bt resources under management
Approx.
Augyva Mining
Resources Inc.
(TSXV: AUV)
4
Duncan Lake
Project
1
3
Hayot
Joyce
(DSO)
Full
Moon
Duncan
Total
Measured
& indicated
-
10.0 Mt
7.3 Bt
1.1 Bt
8.4 Bt
Inferred
1.7 Bt
5.6 Mt
8.7 Bt
0.6 Bt
James Bay Area
11.0 Bt
NI 43-101
Resources
1
Duncan Lake
Note 1: Currently a 65% interest under an option and joint venture agreement with Augyva Mining Resources Inc.
Note 2: Entered into an agreement with Champion to acquire all its remaining interest in Attikamagen on Sept 30, 2013 for 2M shares plus warrants & NSR
Note 3: A portion of the Astray has been spun out to Northern Star which will assume the exploration obligations while Century maintains a 20% therein
6

7. Credit Suisse Analysis
 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
Century Iron Mines Corporation
Source: Company data, Credit Suisse estimates
7

8. Two Prong Strategy: Short-Term Low Capital Intensity DSO
& Long-Term High Volume Project Development Approach to
Maximize Economic & Strategic Value to China …
30
Taconite
7.3 Bt (M&I)
8.7 Bt (Inferred)
4
25
Full Moon
High Volume
4
20
10.0 Mt (M&I)
5.6 Mt (Inferred)
15
DSO
10
2
DSO
1.7Bt (Inferred)
18km
DSO
Labrador Trough
Production
Mtpa Target
DSO
3
Taconite
(conceptual illustration only. Does not represent
Company’s current actual assessment of its resource(1)
TSH &
QNSL Rail
to Sept Iles
Century Iron Mines Corporation
1
5
Closest distance
Target 2 Mtpa
On capex <$100M
0
2015
Joyce DSO
1
2016
DSO
(1) Please
2
2017
3
DSO
2018
2019
Taconite
see cautionary disclaimer statement on page 2
8

9. 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%


Resource



M+I: 10Mt
Inf: 5.6Mt
Continued drilling
to
expand/upgrade
resource



Geophysics
Orientation drilling
Resource drill
ready



Geophysics
Orientation drilling
Resource drill
ready
 Exploration
PEA  BFS
 Target completion
2014
EIS
 In progress
 Target completion
2014
Production
 2Mtpa (target)
 Targeting 2015-16
Infrastructure
 Joyce Lake spur rail / road infrastructure will benefit subsequent DSO projects
 Existing capacity can accommodate
Off take
 60% WISCO
Century Iron Mines Corporation
100%
60%
Succeeding DSO projects to sustain a continuous DSO operation with
movable equipment designed for possible minimal capex
 100% available
 60% WISCO
 60% WISCO
9

10. Joyce Lake DSO Deposit
NI 43-101 Resource Estimate
SGS Mineral Resource Estimate Summary
(at 50% Fe cutoff – March 7, 2013)
Resource Category Million Tonnes
Grade Tfe%
Measured
5.0
60.44
Indicated
5.0
58.44
Total M & I
10.0
59.45
Inferred
5.6
55.78
Resource Highlights





Century Iron Mines Corporation
Resource model based on 118 holes
Assay coverage contains 3,854 assay intervals totaling
11,739 metres
Covering an area of 1.1Km along strike & 600m width
The mineralization remains open to the south
Continuing exploration to expand resource
10

11. Joyce Lake DSO Deposit
Preliminary Economic Assessment (March 25, 2013)
Pre-tax
Payback
IRR
NPV @8%
Post-tax
2.5 years
2.6 years
37%
27%
$90.4M
$51.8M
Based on 100% ownership of the project

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.
Century Iron Mines Corporation
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
11

12. .. A bite-size project within reach of
balance sheet & market cap
Joyce Lake Preliminary Economic Assessment
FOB Operating Cost (Note 1)
$/tonne
Mine
Crushing & Screening Plant
General and Administration
Product Hauling
Rail Yard Operation
Rail Transportation
Port Handling
21.40
4.35
6.85
2.82
0.86
22.36
4.16
Total Opex FOB, Sept Iles
62.80
Highlights:
Joyce Lake Mine
10.8
Crushing & Screening Plant
10.5
Railroad and Yard
Rail Cars
Haulage Road and Infrastructure
Trucks
(1)
(2)
(1)
(2)
Total Direct Cost
10.3
20.4
24.3
6.7
83.0
Indirect Cost at 10% of Direct
5.6
Contingency 10% of Direct Cost
8.0
Total Project Cost
96.6
Highlights:
$ 108/t
$ 93/t
Note 1: Opex is estimated on FOB Sept Iles basis
Note 2: Based on 100% ownership of the project
Century Iron Mines Corporation
$ millions
(excluding mobile equipment)
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
Sinter fines
Capital Cost
Infrastructure benefiting future
operation
Trucks & Ore Cars (leasable)
(1)
(2)
34.3
27.0
12

13. Post-PEA Drilling Update on Joyce
Potentially expanding & upgrading resource ...
Century Iron Mines Corporation
13

14. .. Recent positive post PEA drilling results
suggest potential expansion of resource ..



Post-PEA drilling results announced Oct 7, 2013
reporting expected high grade mineralization &
new high grade intercepts (some within 70m
from PEA pit limits)
Potential expansion and upgrade of current
resource estimate
An addition drilling program to further test the
potential of the extension of Joyce commenced
September
Joy 13-140: 3-39 m at 60.27% TFe
Section 1N
Joy 13-130: 132-159 m @61.30%; :
Joy 13-143: 126-168 m 63.93% Fe ;
Joy 13-145: 3-48m @ 57.40% and 108-126 m 66.12% Fe
Century Iron Mines Corporation
Joy 13-120, 134, 138 and 147
14

15. Joyce Lake Development Roadmap
2013
2014
2015
2016
Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
Environmental Studies
Feasibility (BFS)
Permitting & IBA
Construction & Overburden removal /
Mining & Pre-Production
Commercial Production & Shipping
Century Iron Mines Corporation
15

16. DSO Beyond Joyce Lake
A number of DSO targets under exploration
P8 DSO Target
P2 DSO Target
Helluva DSO Target
P3 DSO Target
P1 DSO Target
P9 DSO Target
Hayot North DSO Target
Joyce LK DSO Deposit
Joyce South DSO Target
Prudhomme DSO Target
Wishart No. 4 DSO Target
Red Dragon DSO Target

17. Additional DSO Targets
Sunny Lake – Lac Le Fer Section
Prospect #2
Sample Fe %
5376 48.6
5377 41.1
5378 46.9
5379 46.6
5380 48.5
5381
Mn %
0.05
0.06
0.11
0.05
0.69
59.7 0.14
Prospect #3
SiO2
Mn SiO2
% Sample Fe % %
%
31.82 5383 56.4 0.36 15.1
35.92 5384 59 0.08 15.42
22.28 5385 59.5 0.11 13.9
31.78 5386 41.4 0.25 37.48
31.68 5387 67.1 0.22 1.88
2.76
5388
58.4 0.11 10.65
50.8 0.55 23.4
63.8 0.22 5.91
Prospect #4
9957
66.8
2.06
5391
5392
9958
55.8 0.06 18.54
5394
57.7 0.17 14.08
59.4
58.8
63.3
62.1
0.3
Prospect #5
9759
9760
9761
43.3 0.21 34.9
43.5 0.03 35.61
60.2 0.06 11.52
5395
5396
5397
5398
9762
58.8 0.24 13.87
5399
57.6 0.28 14.24
5400
9751
9752
9753
42.8
61.2
67.4
66.6
9961
63.1 0.28 7.72
Prospect #6
9763
9764
9765
44.9 2.88 34.02
61.5 0.12 7.93
23.8 0.24 59.9
9766
9767
38.3 0.12 40.51
61.5 0.21 2.67
9768
56.7 0.09 10.09
0.11
0.22
0.17
1.83
4.32
2.67
0.1
0.23
13.12
4.03
6.06
5.34
28.43
6.98
2.27
3.46
Fe samples > 55%*
* Assay results from 1951 exploration
program (M. Tremblay)
Century Iron Mines Corporation
17

18. LLF P3 DSO Target, Mag and Gravity
LLF P3 DSOLLF-P3-004 Assay
result
Length
Sample
From
to
TFe %
ID
(m)
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
Naturally enriched >62% grade & good thickness
58.3
LLF-P3-004
62.3% FeT/45.0m
(ended in IF)
Proposed Holes
Completed Holes
Century Iron Mines Corporation
Completed Holes
18

19. Schefferville West: Red Dragon DSO target

Redmount



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.
Re-trenching and
exploratory drilling
Century Iron Mines Corporation
19

20. Drill Section SWI 12-1203
9-54 m: 54.33%
Incld: 9-24 m:
65.82%
Century Iron Mines Corporation
20

21. Full Moon Taconite Deposit, Rainy Lake
First Resource Estimate by SRK
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




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
Century Iron Mines Corporation
21

22. Full Moon Taconite Deposit
Thicker than usual, better economics
2.75km
31.3%
152m
30.4%
272m
30.2%
224m
28.4%
341m
27.9%
242m
Usual taconite
thickness 100m
100m
Iron Ore Units
29.1%
234m
Iron Ore Units
Iron Ore Units
29.0%
115m
Section Line 0
Century Iron Mines Corporation
22

23. Transportation – Iron Projects in Labrador Trough
Full Moon
Lac Le Fer
Adriana
(WISCO)
Sunny Lake
Attikamagen
Schefferville
Joyce & Hayot
Altius
Projects
Ross Bay
Junction
Labrador City
 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+
Mont-Wright
Sept-Iles
Pointe-Noire
Port-Cartier
Railway Distance:
Schefferville to Ross Bay Junction: 217 km
Ross Bay Junction to Sept-Iles: 356 km
0
50
100 km
Labrador City to Ross Bay Jct: 58 km
Mont-Wright to Port Cartier: 400 km
Century Iron Mines Corporation
23

24. Port of Sept-Iles: 50Mtpa Expansion
IOC Port
Multi user Berth
By Port of Sept-Iles
 Main port is over 23.2 m in depth
Alumina
Plant
 Accommodates Capesize or larger
vessels
 Fully equipped, can be operated yearround
0
500 m
• Natural shelters, deep water for
year-round access by iron ore
ships
• Ability to expand as required
Century Iron Mines Corporation
 50Mtpa $220M expansion plan to be
completed in 2014 with more than
$100M in commitments from miners
and governments, $55M from federal
government
24

25. Management
Gearing up for 2015-6 production & beyond
SVP, Mine Development & Logistics
Robert Girardin, Logistics
Ivan Wong, SVP Corp Finance & Project
Sandy
Chim
Rebecca Ng, CFO
President
& CEO
Development
Ricky Chan, VP, Planning & Operations
Claude Britt, Chief Geologist
Michael Skutezky,
General Counsel & Corporate Secretary
Core competence, expertise
and experience
Ghislain Arel, Mining
Hubert Vallee
Bob Leshchyshen, VP, IR & Corporate Development
New iron ore mine
development
Iron ore mining &
logistic operations
Century Iron Mines Corporation
Resource discovery
& development
China steel mill &
iron ore trading
Capital market &
building materials
25

26. Summary
 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
Century Iron Mines Corporation
26

27. What sets Century Iron Mines apart
Projects
Products
Competitiveness
• 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
• 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
• Bite-size DSO
projects
• Low capital
intensity
• Quick to production
• Reasonable cost
• 2Mtpa – existing
infrastructure can
accommodate
Century Iron Mines Corporation
Capital
• $>$100M capex
• $50M working
capital on balance
sheet
• Received an
additional $20M
(Sept) from WISCO
by JV
27

28. Appendices
Century Iron Mines Corporation
28

29. Comparable Table (based on total resources)
Companies in the Labrador Trough
Stock (Mils) tonnes
Symbol
ADI Adriana Resources Inc. (1)
NML New Millennium Capital Corp. (2)
CEV Cap-Ex Ventures Ltd.
CHM Champion Iron Mines Ltd.
FEO Oceanic Iron Ore
ADV Alderon Resource Corp. (7)
LIM Labrador Iron Mines Holdings Limited
MT
CLF
RIO
Major Iron Companies
ArcelorMittal (including Baffinland)
Cliffs Natural Resources (3)
Rio Tinto plc (IOC) (5)
FER Century Iron Mines Corp. (4)
Duncan Lake
Joyce Lake
Hayot Lake
Rainy Lake
Total FER
Total all companies
Century Iron Mines Corporation
NI43-101 Resources Disclosed
Proven & Measure
Probable & Indicated Inferred
0
5,750
0
0
1,359
669
0
20,640
14,016
0
858
1,268
1,275
44.6
6,840
4,405
7,200
3,997
193
523
5.2
Total
27,480
24,171
7,200
4,854
2,821
2,466
49.8
2,340
649
1,374
4,903
1,976
1,091
1,510
711
1,372
8,753
3,336
3,837
0
0
0
0
0
1,051
10.0
0
7,260
8,321
563
5.6
1,723
8,694
10,985
1,614
15.6
1,723
15,953
19,306
12,141
54,391
37,741
(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.
104,273
(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
Prepared by: Bob Leshchyshen, MBA, CFA
.
29

30. Comparable Table
(based on attributable resources)
Companies in the Labrador Trough
Stock (Mils) tonnes
Symbol NI43-101 Resource Estimates
ADI
Adriana Resources Inc. (1)
NML New Millennium Capital Corp. (2)
CEV Cap-Ex Ventures Ltd.
CHM Champion Iron Mines Ltd.
FEO Oceanic Iron Ore
ADV Alderon Resource Corp. (7)
LIM Labrador Iron Mines Holdings Limited
MT
CLF
RIO
FER
Major Iron Companies
ArcelorMittal (including Baffinland)
Cliffs Natural Resources (3)
Rio Tinto plc (IOC) (5)
Century Iron Mines Corp. (4)
Duncan Lake
Joyce Lake
Hayot Lake
Rainy Lake
Total FER
Total all companies
Century Iron Mines Corporation
Attributable Tonnes
Contained FE tonnes
Fe%
Fe%
Fe%
Proven & Measure
Proven & Measure
Proven & Measure
Probable & Indicated Inferred Probable & Indicated Inferred Probable & Indicated Inferred
0
1,757
0
0
438
197
0.0
6,145
4,121
0
172
410
378
25.2
2,038
1,303
2,102
1,670
64
154
2.9
0
30.55%
0
0
32.21%
29.52%
0
28.94%
29.63%
0
30.58%
32.36%
29.68%
56.45%
30.40%
30.31%
29.20%
28.49%
32.90%
29.45%
55.42%
0
351
0
0
438
148
0.0
2,402
2,493
0
277
410
284
25.2
832
813
2,102
1,105
64
115
2.9
Total
3,234
3,657
2,102
1,382
912
547
28.0
809
198
522
1,471
595
417
603
20
521
34.56%
30.55%
38.00%
30.00%
30.11%
38.21%
39.94%
28.60%
38.00%
809
155
307
1,471
534
245
603
20
306
2,883
709
858
0
0
0
0
256
5.9
0
2,191
2,453
139
3.1
538
2,596
3,277
0
0
0
0
0
24.39%
59.45%
0
30.18%
29.45%
24.70%
55.78%
31.25%
29.86%
29.81%
0
0.0
0
0
0
167
3.6
0
1,315
1,485
90
1.9
323
1,558
1,973
257
5.4
323
2,872
3,458
3,921
16,189
11,755
32.30%
29.76%
31.15%
2,207
9,625
7,937
19,769
Prepared by: Bob Leshchyshen, MBA, CFA
30

31. Comparable Table
(based on attributable resources)
Stock
symbol
NML
ADI
CEV
CHM
FEO
ADV
FER
New Millennium Capital Corp.
Adriana Resources Inc.
Cap-Ex Ventures Ltd.
Champion Iron Mines Ltd.
Oceanic Iron Ore Corp.
Alderon Resource Corp.
Close
13-Nov
2013
$0.71
$0.19
$0.055
$0.22
$0.095
$1.77
52 week
Shares
Low
High O/S (mils)
$0.60
$1.63
180.0
$0.175 $0.495
157.6
$0.055 $0.50
97.8
$0.155 $0.81
137.4
$0.08
$0.20
196.6
$0.88
$2.23
130.1
Century Iron Mines Corp.
$0.485
$0.30
Name
$1.05
94.2
Market
Cap
$mils
$127.8
$29.9
$5.4
$30.2
$18.7
$230.4
$442.4
Cash
($mils)
$47.2
$50.9
$1.7
$3.1
$4.2
$113.8
$221.0
$45.7
$33.7
EV
Enterprise
Value
($mils)
$85.4
($21.0)
$3.9
$27.1
$17.6
$116.5
$229.5
FE
P&P
M&I
mils
tonnes
2,844.0
2,401.9
0.0
276.7
848.2
431.7
6,802.6
$12.0 1,484.8
EV/
FE
tonne
$0.030
($0.009)
n/a
$0.098
$0.021
$0.270
$0.034
FE
Total*
mils
tonnes
3,657.2
3,233.6
2,102.4
1,381.7
911.9
547.2
11,834.0
EV/
FE
tonne
$0.023
($0.006)
$0.002
$0.020
$0.019
$0.213
$0.019
$0.008
3,457.6
$0.003
* Total includes Proven and Probable, Measure and Indicated and Inferred Resources.
Century Iron Mines Corporation
Prepared by: Bob Leshchyshen, MBA, CFA
31

32. Contact Information
Century Iron Mines Corporation
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
32