Nevada Iron Limited: ASX Release

PERTH, WESTERN AUSTRALIA--(Marketwired - Feb. 10, 2015) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES

Further to the Company's announcement dated 3 February 2015, Nevada Iron Limited (NVI.AX) (NVR.TO) confirms that following the allotment of 1,393,488 ordinary fully paid shares it has today completed the first tranche of the private placement. The 1,393,488 shares were issued at an issue price of US$0.215 cents per share and raised a total of US$299,600.

The Company confirms that, in accordance with the TSX approval received, the final tranche of the private placement will be completed by no later than 9 March 2015.

The Company intends to use the proceeds of the offering to continue its progress in permitting, execution of key contracts and for general working capital purposes for its wholly owned Buena Vista iron ore project.

Michael Higginson, Company Secretary

ABN 98 123 423 987