Ferro Strengthens Management Team and Board of Directors

TORONTO, ONTARIO--(Marketwire - Feb. 5, 2013) - Ferro Iron Ore Corp. (TSX VENTURE:RRO) reports the appointment of Paul Bozoki as Chief Financial Officer, Neil Said as Corporate Secretary and the addition of George Faught, Chirvani Abdoullaev and Alastair Neill to the company's Board of Directors, effective immediately.

Mr. Bozoki is a Chartered Accountant, holds an MBA and has over fifteen years of accounting, tax and corporate finance experience. Since October 2010, Mr. Bozoki has served as Chief Financial Officer of Black Iron Inc., a TSX-listed junior resource company developing an iron ore project in Ukraine. In addition, from March 1, 2012, Mr. Bozoki has served as Chief Financial Officer of Cap-Ex Ventures Ltd., a TSX Venture Exchange listed junior resource company developing an iron ore project near Schefferville, Quebec. Mr. Bozoki began his career at Ernst & Young LLP where he spent six years auditing clients predominately in the mining industry.

Mr. Said is a corporate securities lawyer who works as a legal consultant to various TSX and TSX Venture listed companies in the mining and oil & gas industries. He previously worked as a securities lawyer at a large Toronto corporate law firm, where he worked on a variety of corporate and commercial transactions. Mr. Said obtained a Juris Doctor from the Faculty of Law at the University of Toronto and he received a Bachelor of Business Administration (Honours) with a minor in Economics from Wilfrid Laurier University.

The appointments of Mr. Bozoki and Mr. Said follow the resignation of Mr. Mark Lotz as Chief Financial Officer and Corporate Secretary.

George Faught is a chartered accountant with over 25 years of senior management experience. He currently serves as a director of a number of public companies in the resource sector and has worked as an officer of publicly traded companies in the natural resources sector including Aberdeen International Inc., a global resource investment corporation, North American Palladium Ltd., a mid-tier platinum group metal producer, Hudson Bay Mining & Smelting Co. Ltd., an integrated base metals producer and William Resources Inc., an international gold producer.

Alastair Neill is the former VP/GM, Rare Earth Division and VP Business Development for AMR (now Neo-Material Technologies) and Executive Vice President of Dacha Strategic Metals Inc. Mr. Neill is one of the leading experts in rare earth elements and he has over 15 years of experience in the resources sector. He holds a master of business administration from York University and a Bachelor of Engineering in material science from the University of Western Ontario.

Chirvani Abdoullaev received a degree in petroleum geology in the USSR from the State Academy of Oil and Gas in Moscow and worked for the Ministry of Natural Gas in the Soviet Union in Kazakhstan, Uzbekistan, Yakutia, Turkmenistan and for the Bulgarian National Oil Company. Mr. Abdoullaev also spent two years in the Canadian oil patch as a geophysicist with Seis-Pro & Consultants until its acquisition by Schlumberger. Following his graduation from the University of Toronto with a MBA degree in 1996, Mr. Abdoullaev started a career as an Equity Analyst covering Canadian oil and gas stocks and emerging markets metals and mining stocks. Most recently Mr. Abdoullaev spent three years in Moscow as a senior oil and gas analyst with Alfa Bank and later in Prague with Wood and Company covering Russian oil and gas and oil field services companies.

The appointments of Mr. Faught, Mr. Neill and Mr. Abdoullaev to the Board of Directors of Ferro follow the resignations of Mr. Mark Lotz and Mr. Shane Yamamoto as directors of the company.

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