BC Iron Limited ASX Announcement 15 February 2011
Clarification of Media Comment On 13 February 2011, an "article" appeared on a foreign website that in recent days has been circulated to a number of websites and blogs.

We believe that this article is highly misleading and its credibility must be brought into question, given the large number of inaccuracies throughout the article, along with its highly speculative nature.

The BC Iron Board confirms that it has been in recent discussions with its major shareholder Consolidated Minerals Limited regarding the Regent Pacific offer (refer ASX announcement dated 21 January 2011).

However, while we can say that these discussions have been positive and constructive, we are unable to confirm the intention of Consolidated Minerals in relation to Regent Pacific Groups takeover offer for BC Iron.
Tony Kiernan Chairman
For further information please contact: Tony Kiernan / Mike Young Chairman / Managing Director BC Iron Limited T: +618 6311 3400 David Tasker / James Harris Professional Public Relations T: +618 9388 0944
About BC Iron Limited BC Iron is an iron ore development and mining company with key assets in the Pilbara region of WA.

The Companys core asset is the Nullagine Iron Ore Project, a 50/50 joint venture with Fortescue Metals Group Limited.

The JV will use Fortescues infrastructure at Christmas Creek, 50 km south of the Mine, to rail its ore to Port Hedland from where it will be shipped to customers overseas.

Mining commenced in November 2010 and first ore on ship is expected in the March Quarter of 2011 - just over four years from listing on the ASX.

The Company plans to export 1 Mt by June 2011 at which point BC Iron will be mining at a throughput of 3Mtpa.
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