Black Iron Announces Appointment of Mr. David Porter as Chairman of the Board

Rhea-AI Summary

Black Iron (TSX:BKI) has appointed David Porter as Chairman of the Board, following Bruce Humphrey's resignation after 15 years of service. Porter, who has been a director since 2010, brings over 33 years of experience in mining and steel sectors.

Porter's extensive background includes serving as VP Human Resources at Rio Tinto/Mitsubishi's Iron Ore Company of Canada (1992-2008) and VP Operations at Altas Specialty Steel - Rio Algom (1978-1991). The leadership change comes after two attempts to advance the Shymanivske Iron ore project were disrupted by Russian invasions of Ukraine.

Positive

• New Chairman brings 33 years of relevant mining and steel industry experience
• Incoming Chairman has significant executive experience with major companies like Rio Tinto
• Porter's extensive operational background in iron ore sector aligns with company's core business

Negative

• Previous attempts to advance Shymanivske project were halted due to Russian invasions of Ukraine
• Loss of long-term Chairman with 15 years of company experience

TORONTO, ON / ACCESS Newswire / July 21, 2025 / Black Iron Inc. ("Black Iron" or the "Company") (TSX:BKI) is pleased to announce the appointment of Mr. David Porter as Chairman of the board of directors of the Company ("Board"). Mr. Porter has served as a director of the Company since 2010 and is a seasoned executive who has been responsible for operations, safety, health, sustainable development, communications and community relations across the mining and steel sectors for over 33 years. Mr. Porter previously served as Vice President Human Resources and Organizational Effectiveness at the Rio Tinto/Mitsubishi owned Iron Ore Company of Canada from 1992 to 2008 and as Vice President Operations at Altas Specialty Steel - Rio Algom from 1978 to 1991.

Mr. Porter's appoint follows the resignation of Mr. Bruce Humphrey as Chairman and a director of the Board following 15 years with the Company.

Mr. Simpson, Chief Executive Officer of the Company, stated "I would like to thank Bruce for his years of dedication and guidance as we twice brought Black Iron's Shymanivske Iron ore project to the brink of construction, only twice to have Russia invade Ukraine upending our plans. With Dave taking over as Chairman, Black Iron's board, management and shareholders are in excellent hands as he is a critical thinker with extensive hands-on iron ore and steel industry experience."

About Black Iron

Black Iron is an iron ore exploration and development company, advancing its 100% owned Shymanivske Iron Ore Project located in Kryviy Rih, Ukraine. Full mineral resource details and projected project economics can be found in the NI 43-101 technical report entitled "(Amended) Preliminary Economic Assessment of the Re-scoped Shymanivske Iron Ore Deposit" published in March 2020 with an effective date of November 21, 2017 under the Company's profile on SEDAR at www.sedar.com. The Project is surrounded by five other operating mines, including Metinvest's YuGOK and ArcelorMittal's iron ore complex. Please visit the Company's website at www.blackiron.com for more information

For more information, please contact:

Matt Simpson
Chief Executive Officer
Black Iron Inc.
info@blackiron.com

Forward-Looking Information

This press release contains forward-looking information. Forward-looking information is based on what management believes to be reasonable assumptions, opinions and estimates of the date such statements are made based on information available to them at that time. Forward-looking information may include, but is not limited to, statements with respect to the appointment of directors. Generally, forward looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the war in Ukraine; general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; other risks of the mining industry and the risks described in the annual information form of the Company. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. The Company notes that mineral resources are not mineral reserves and do not have demonstrated economic viability.

SOURCE: Black Iron, Inc.

View the original press release on ACCESS Newswire

FAQ

Who is the new Chairman of Black Iron (BKIRF)?

David Porter has been appointed as the new Chairman of Black Iron. He has served as a director since 2010 and brings over 33 years of experience in mining and steel sectors.

What is David Porter's experience in the mining industry?

Porter has 33 years of experience in mining and steel sectors, including roles as VP Human Resources at Rio Tinto/Mitsubishi's Iron Ore Company of Canada (1992-2008) and VP Operations at Altas Specialty Steel - Rio Algom (1978-1991).

Why did Bruce Humphrey resign as Chairman of Black Iron?

Bruce Humphrey resigned as Chairman and director after 15 years with the company. His tenure saw two attempts to bring the Shymanivske Iron ore project to construction, both disrupted by Russian invasions of Ukraine.

What challenges has Black Iron faced with its Shymanivske Iron ore project?

Black Iron has attempted to bring its Shymanivske Iron ore project to construction twice, but both attempts were disrupted by Russian invasions of Ukraine.

When did David Porter join Black Iron's board?

David Porter has served as a director of Black Iron since 2010, bringing over a decade of experience with the company before his appointment as Chairman.