Ridgemont Iron Ore Corp.

Ridgemont (RDG: TSX.V) (RIOOF: OTCQX) recently announced that it has entered into a Letter of Intent to acquire all of the issued and outstanding common shares of IronOne Inc. IronOne has an interest in two iron projects, Lac Virot Iron Project located in the southern Labrador Trough and the Maguse River Iron Project located in Nunavut.  The 2011 exploration program on the Lac Virot Iron Project confirmed the presence of outcropping iron formation along three magnetic trends at Neal Lake, Emma Lake, and Sunday Lake which exhibit apparent strike lengths ranging from 1 km to over 5 kms. Exploration results from the 2011 program will be compiled in order to help design a 2012 diamond drill program to explore these priority magnetic anomalies.  Four major mines (Mont-Wright, Carol, Scully and Bloom Lake) are located within 20km of the project.  The Maguse River Iron Project comprises owned claims and claim applications covering a nearly 200 kilometre strike length of folded, magnetite-rich, metasedimentary rocks of the Archean-aged Rankin-Ennadai Greenstone Belt.  Further information regarding the proposed acquisition can be found in the News Release dated March 21, 2012.

Ridgemont is also developing the Redford iron ore property located on Vancouver Island, British Columbia. Roughly 22 kilometres northeast of Ucluelet, the property is ideally located close to port facilities and shipping routes to Asia as well as nearby communities and labour supply.  The Redford property is host to the Brynnor iron deposit. Noranda Exploration Ltd. mined the near surface portion of the iron ore body in the 1960’s, however the underground extension of the ore body was never mined.

The extensive iron ore expertise of the Ridgemont team will be a key element in advancing the iron ore projects towards production.

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