Central Iron Ore Ltd.: Completion of Helimag Aerial Survey Over Perinvale South Iron Ore Hub

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 22, 2011) -

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) (the "Company") is pleased to announce the completion of a Helimag and radiometric aerial survey flown over its Perinvale South Iron Ore Hub.

The survey was flown over E30/414 for a total of 917 line kilometres on a spacing of 100m. The data revealed several magnetic anomalies with a combined strike length in excess of 12km. This data is currently being processed and reviewed by an independent geophysical consulting firm. The results will be used to develop exploration drilling targets and are expected during the next quarter.

Yilgarn Iron Ore Project Area

The Company has a total of 10 tenements covering 652km² (refer to table below) that are located within the Yilgarn Iron Ore Province. The Yilgarn Iron Ore Province is considered highly prospective, given its history of large-scale iron ore production, with the Cliffs Natural Resources Inc.-owned Koolyanobbing operation (also formerly operated by Portman Limited) currently producing at a rate of about 8Mtpa of direct shipping ore ("DSO"). The Yilgarn Iron Ore Province is increasingly being recognised as an attractive location for the development of iron ore projects, given its proximity to rail and access to ports.

The Company believes its greater Yilgarn Iron Ore Project tenement package provides a significant platform for the exploration for iron ore and will provide a significant, 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 DSO within the below tenements to gain an initial understanding of their respective resource potential. The initial area of focus for the Company is its Perinvale South Iron Ore Hub.

Mr Brett Hodgins, President and CEO, said, "We are extremely pleased by the progress of the geophysical and field mapping activities. These combined exploration activities will allow for target generation and further exploration activities during the next quarter on the Perinvale South Iron Ore Hub. This reinforces CIO's strategy to identify sufficient DSO resources to support a start up project."

To view the maps accompanying this press release please visit the following link: http://media3.marketwire.com/docs/capmap922.pdf

Hub	Tenement	Status	Area (km2)
Perinvale South	E30/414	Granted	93
Perinvale South	E30/415	Granted	93
Perinvale South	P30/1084	Granted	1
Perinvale North	E57/818	Granted	120
Windarling	E77/1820	Granted	12
Windarling	E77/1737	Granted	42
Diemals	E77/1749	Granted	111
Diemals	E77/1757	Granted	114
Diemals	E77/1758	Granted	39
Diemals	E77/1840	Pending	27

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 completion of helimag aerial survey over Perinvale South Iron Ore hub. 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