Cartier Iron Corporation (CNSX:CFE) ("Cartier Iron"), (formerly Northfield
Metals Inc.), is pleased to announce the commencement of a diamond-drilling
programme on its recently optioned Penguin Lake property (the "Property"),
located in the Gagnon Terrane in northeastern, Quebec. The Property, which forms
part of the recently optioned Gagnon Holdings (see Cartier Iron's Press Release
of September 28, 2012) comprises 60 claims covering over 30 km2 in the southern
part of the Labrador Trough, which is host to all current iron-ore production in
Canada. 


The thirteen hole NQ-core drilling programme is underway and is designed to test
magnetite/hematite-rich members of the Sokoman (iron) Formation that underlie
the Property (Figure 1). 


A preliminary exploration campaign was carried out in 1961 by Quebec Cartier
Mining Co. ("QCM") in the area of Cartier Iron's proposed 2013 campaign. QCM's
geological mapping and geophysical surveys outlined two distinct, strong,
positive magnetic-response anomalies east of Penguin Lake that they subsequently
tested with a ten-hole diamond-drilling program. The historic drill-holes
intersected high-grade hematite- and magnetite-rich iron formation up to 150
metres thick, from surface to depths of approximately 200 metres, coincident
with the magnetic-response anomalies. This zone of mineralization has been
catalogued by Ressources naturelles Quebec as the Lac Pingouin occurrence
(http://sigeom.mrnf.gouv.qc.ca/ Cogite # 23C/01-0004). 


Data from recent airborne magnetic (2008(1)) and airborne magnetic/gravimetric
(2011(2)) surveys completed by Champion Iron Mines Ltd. ("Champion") were
modelled by Abitibi Geophysics of Val-d'Or, Quebec, and suggest that the iron
formation may extend to depths beyond 500 metres. Furthermore, though two
distinct magnetic anomalies are apparent at surface, the Abitibi interpretation
indicates that the iron formation underlying the anomalies is likely a
continuous body below surface. A gravity anomaly that overlaps, but is centred
slightly north of, the eastern magnetic anomaly suggests that the iron formation
continues, down-dip, toward the north.


Paul Ankcorn, President of Cartier Iron stated, "We are extremely satisfied to
get the drilling program underway and eagerly await the results. Our intent is
to aggressively drill priority targets on our Gagnon Holdings to prove-up a
significant iron resource."


Logan Drilling of Stewiacke, Nova Scotia has been contracted to complete the
drilling programme, utilizing two (2) drill-rigs capable of wire-line
diamond-drilling utilizing NQ-sized core barrels. The drill-rigs have been
mobilized to the Property, where a 10-kilometre network of drill-access trails
is being cleared. 


MRB & Associates ("MRB") of Val-d'Or, Quebec and Mercator Geological
("Mercator") of Dartmouth, Nova Scotia have provided a team of experienced
geologists and technicians to carry-out the core logging and sampling. MRB will
also handle the assimilation and management of the Project's technical and
analytical data. 


About Cartier Iron Corporation

Cartier Iron is a junior exploration company focused on discovering and
developing iron resources in the province of Quebec. The Company's projects
include the Borel River Property in the Ungava Bay region of northern Quebec,
and the optioned Gagnon Holdings in the southern Labrador Trough, in
northeastern Quebec.


The technical content of this press release has been reviewed by Mr. John
Langton, P. Geo., Vice President, Exploration and a Director for Cartier Iron
Corporation, and a Qualified Person under the guidelines of National Instrument
43-101.


For additional information on Cartier Iron, please visit our website at
www.cartieriron.com. 


Statements in this release that are not historical facts are "forward-looking
statements" and readers are cautioned that any such statements are not
guarantees of future performance, and that actual developments or results, may
vary materially from those in these "forward-looking statements".


(1)2008 (GM63919) GPR Geophysics Report & Survey Data: 2008 Airborne Survey,
Fermont Properties, for Champion Iron Mines Limited (formerly Champion Minerals
Inc.).


(2)2011 (GM 65900) Fugro Airborne Survey, for Champion Iron Mines Limited (2011).

To view Figure 1: Proposed 2013 Phase 1 drill-holes, Penguin Lake Project,
please visit the following link:
http://media3.marketwire.com/docs/851047FIG.pdf. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Cartier Iron Corporation
Paul Ankcorn
President & Director
(416) 360-8006


Cartier Iron Corporation
Jorge Estepa
Vice-President
(416) 360-8006
www.cartieriron.com
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