BLACK IRON PROVIDES YEAR-END UPDATE

Black Iron Inc. released a year-end corporate update detailing progress on regulatory activities at its Shymanivske iron ore project located in Ukraine. The company has dedicated the past year to completing essential studies and conducting public hearings, both critical components required for the renewal of the project's extraction permit.

The focus on permit renewal activities demonstrates Black Iron's commitment to maintaining regulatory compliance and advancing its Ukrainian iron ore asset despite the challenging geopolitical environment. The completion of studies and public consultation processes represents important milestones in the permitting timeline, though the ultimate success of permit renewal remains subject to regulatory approval.

For the iron ore sector, this update reflects the ongoing complexities of operating in geopolitically sensitive regions, particularly in Ukraine where mining companies must navigate both regulatory requirements and broader security considerations. The company's continued investment in permit renewal activities suggests confidence in the long-term viability of the Shymanivske project, despite current regional challenges.

Looking forward, the successful renewal of the extraction permit would be a critical enabler for Black Iron to advance development activities at Shymanivske. However, the timeline and ultimate approval remain uncertain given the current operating environment in Ukraine, making this a key risk factor for investors to monitor.