CIO Increases Iron Ore Land Package by 250%

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES.


Central Iron Ore Ltd. (TSX VENTURE:CIO) ("CIO" or "the Company") is pleased to
announce that it has applied for six new exploration licences at its Perinvale
South Iron Ore Hub.


The Company now has a total of 15 iron ore tenements covering 1,588km2 (refer
table below) that are located within the Yilgarn Iron Ore Province ("Yilgarn
IOP") in Western Australia, of which nine tenements are granted and six
tenements are pending applications. The Yilgarn IOP is considered highly
prospective, given its history of large-scale iron ore production, with the
Cliffs Natural Resources-owned Koolyanobbing operation (formerly operated by
Portman Limited) currently producing at a rate of approximately 8Mtpa of Direct
Shipping Ore ("DSO"). The Yilgarn IOP is increasingly being recognised as an
attractive location for the development of iron ore, given its proximity to rail
and access to ports.


Yilgarn Iron Ore Project Area



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Hub                        Tenement         Status      Area (km2)
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Perinvale South            E30/0414        Granted             93
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Perinvale South            E30/0415        Granted             93
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Perinvale South            P30/1084        Granted              1
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Perinvale South            E29/0843        Pending            210
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Perinvale South            E30/0434        Pending            126
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Perinvale South            E30/0435        Pending            207
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Perinvale South            E30/0439        Pending            156
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Perinvale South            E30/0440        Pending             54
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Perinvale South            E30/0441        Pending            210
-----------------------------------------------------------------


-----------------------------------------------------------------
Hub                        Tenement         Status      Area (km2)
-----------------------------------------------------------------
Perinvale North            E57/0818        Granted            120
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Windarling                 E77/1820        Granted             12
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Windarling                 E77/1737        Granted             42
-----------------------------------------------------------------
                                                                 
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Diemals                    E77/1749        Granted            111
-----------------------------------------------------------------
Diemals                    E77/1757        Granted            114
-----------------------------------------------------------------
Diemals                    E77/1758        Granted             39
-----------------------------------------------------------------



Note: To view the figure associated with this release, please click the
following link: http://media3.marketwire.com/docs/cio0124.pdf.


The Company believes its expanded Perinvale South Iron Ore Hub provides a
significant continuous platform for the exploration of iron ore and will provide
a new future phase of growth for the Company.


The initial strategy and objective of the company is to evaluate the occurrence
of both magnetite ore and direct shipping ore within the Perinvale South Iron
Ore Hub and to gain an initial understanding of their respective resource
potential. Work is currently underway on the Perinvale South Iron Ore Hub and it
is expected that future announcements regarding both the project status and
their resource potential will follow as exploration activities are completed. It
is expected that rock chip sample analysis from recent field mapping activities
will be available in the coming weeks.


Mr Brett Hodgins, President and CEO, said "These new tenements have formed a
significant land package at our Perinvale South Iron Ore Hub which is now
1,150km2. The additional new tenements have joined our two existing Perinvale
South Iron Ore Hub tenements together resulting in a continuous land holding
package in the region. This combined with our funding reinforces CIO strategy to
focus on future exploration programs to identify sufficient DSO resources to
support a start up project.


CIO will have a booth at PDAC 2012 (Booth number 2842) and we are pleased to
invite shareholders and potential investors to attend.


The Company is pleased to announce that Ms Katherine Garvey has accepted a
position as CIO's Company Secretary. Mr Peter Treston has resigned from the role
of Company Secretary.


The board wishes to thank Peter for his contributions to CIO over many years.

Katherine is an experienced corporate lawyer with a focus on the Energy &
Resources sector, including advising public companies on capital raisings,
mergers and acquisitions, corporate matters, sale and purchase agreements,
company secretarial, farm ins and joint ventures.


QUALIFIED PERSON

Mr. Andrew Spinks B.App.Sc, Grad.Dip (Mining), a member of AusIMM, and a
consultant geologist, is a Qualified Person as defined in National Instrument
43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").


On behalf of the Board of Directors

CENTRAL IRON ORE LTD.

Brett Hodgins, President/CEO

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking information within the meaning of
Canadian securities laws. Such information includes, without limitation,
information regarding "CIO INCREASES IRON ORE LAND PACKAGE BY 250%". Although
the Company believes that such information is reasonable, it can give no
assurance that such expectations will prove to be correct. Forward-looking
information is typically identified by words such as: believe, expect,
anticipate, intend, estimate, postulate and similar expressions, or are those,
which, by their nature, refer to future events. The Company cautions investors
that any forward-looking information provided by the Company is not a guarantee
of future results or performance, and that actual results may differ materially
from those in forward looking information as a result of various factors,
including, but not limited to, the state of the financial markets for the
Company's equity securities, the state of the market for iron ore or other
minerals that may be produced generally, recent market volatility; variations in
the nature, quality and quantity of any mineral deposits that may be located,
the Company's ability to obtain any necessary permits, consents or
authorizations required for its activities, to raise the necessary capital or to
be fully able to implement its business strategies and other risks associated
with the exploration and development of mineral properties. The reader is
referred to the Company's disclosure documents for a more complete discussion of
such risk factors and their potential effects, copies of which may be accessed
through the Company's page on SEDAR at www.sedar.com.


ABN: 32 072 871 133
Central Iron Ore (TSXV:CIO)
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