ASX RELEASE - 22 SEPTEMBER 2016

APPOINTMENT OF MANAGING DIRECTOR

BC Iron Limited ("BC Iron") (ASX:BCI) is pleased to advise that its Chief Executive Officer, Mr Alwyn Vorster, has been appointed to the Company's Board of Directors effective immediately, and will now hold the dual roles of Chief Executive Officer and Managing Director.

BC Iron's Non-Executive Chairman, Tony Kiernan said the Board welcomes Mr Vorster to the Board and noted that since his appointment as Chief Executive Officer, Mr Vorster has made a positive contribution to the strategic focus and direction of the Company, setting the foundations for an exciting future.

Background on Mr Vorster

Mr Vorster has more than 25 years' experience with numerous mining houses in technical and commercial roles covering the total supply chain from mine to market for iron ore, coal and other minerals. Mr Vorster was appointed as Chief Executive Officer on 18 May 2016. Recent other roles included CEO of API Management; CEO/MD of Iron Ore Holdings Ltd; and Regional Manager - China Marketing & Sales for Rio Tinto Iron Ore.

In accordance with Listing Rule 3.16.4, it is confirmed that Mr Vorster's remuneration remains unchanged to that set out in the ASX release dated 18 May 2016.

- ENDS -

FOR FURTHER INFORMATION: MEDIA ENQUIRIES: ALWYN VORSTER DAVID TASKER / TONY DAWE MANAGING DIRECTOR AND CEO PROFESSIONAL PUBLIC RELATIONS BC IRON LIMITED TELEPHONE: +61 8 9388 0944 TELEPHONE: +61 8 6311 3400

ABOUT BC IRON LIMITED

BC Iron is an iron ore mining and development company with assets in the Pilbara region of Western Australia, including Iron Valley, Buckland and Nullagine. BC Iron is listed on the ASX under the code 'BCI'.

Iron Valley is a mine located in the Central Pilbara that is operated by Mineral Resources Limited ("MIN") under an iron ore sale agreement. MIN operates the mine at its cost and purchases Iron Valley product from BC Iron at a price linked to MIN's realised sale price. MIN is currently evaluating a range of initiatives that have the potential to improve the long term viability of Iron Valley and its value to both parties.

Buckland is a development project located in the West Pilbara region, comprising a proposed mine at Bungaroo South and its own proposed infrastructure solution incorporating a haul road and transhipment port at Cape Preston East. It has Ore Reserves of 134.3 Mt at 57.6% Fe, a completed and announced feasibility study and all primary tenure and licences secured. BC Iron is currently evaluating all options to determine the optimal development and financing path for Buckland.

Nullagine is an unincorporated 75:25 joint venture with Fortescue Metals Group Limited ("Fortescue"), which commenced exports in February 2011. The Nullagine Joint Venture has the capacity to rail and export up to 6Mtpa of ore on Fortescue's infrastructure. Operations are temporarily suspended due to market conditions.

BC Iron also has an interest in a number of other exploration stage projects in the Pilbara and potential royalties over the Koodaideri South and North Marillana tenements.

KEY STATISTICS

Shares on issue:

196.3 million

Cash and cash equivalents:

A$9.5 million

as at 30 June 2016

Board and Management:

Tony Kiernan Martin Bryant Andy Haslam Brian O'Donnell Alwyn Vorster

Non-Executive Chairman Non-Executive Director Non-Executive Director Non-Executive Director

Managing Director & Chief Executive Officer

Major shareholders:

Wroxby Pty Ltd

19.0%

Website: www.bciron.com.au

BC Iron Limited published this content on 22 September 2016 and is solely responsible for the information contained herein.
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