Ridgemont Iron Ore Corp. (TSX VENTURE:RDG)(OTCQX:RIOOF)(PINK SHEETS:RIOOF)
("Ridgemont") is pleased to announce the appointment of Brian Penney as
President and Chief Executive Officer, effective as of December 1, 2011, at
which time Mr. Mark Morabito will assume the role of Executive Chairman. 


Mr. Penney brings significant iron ore experience to Ridgemont, having worked
for the Iron Ore Company of Canada ("IOC"), a Rio Tinto subsidiary, for more
than 15 years. During his tenure with IOC, Mr. Penney held many senior roles
including: General Manager of all Processing Facilities, General Manager of
Mining Operations and General Manager of Integrated Planning. 


Mr. Penney's twenty years of experience in the mining sector has also included
senior operating and environmental positions in the gold industry. He is a
professional engineer, graduating from Technical University of Nova Scotia
(TUNS) with a degree in Metallurgy. 


Mark Morabito, current President and CEO of Ridgemont states, "I am very excited
that we have been able to add someone of Brian's calibre to the Ridgemont team.
His iron ore experience and expertise will be invaluable as we work to advance
the Redford project and broaden Ridgemont's portfolio." Mr. Morabito will
transition with Mr. Penney and continue to be involved with Ridgemont as
Executive Chairman of its Board of Directors.


Ridgemont has granted Mr. Penney, under the terms of its stock option plan,
options to purchase up to 400,000 common shares at a price of $0.59 per share.
The options are subject to vesting over a two year period and have an expiry
date of November 4, 2016.


About Ridgemont

Ridgemont is an exploration and development company in Canada and has an option
to acquire up to 75% interest in the Redford iron ore property, comprised of 26
claims covering 10,821 hectares and located 22 kilometres northeast of Ucluelet,
in the Alberni Mining Division, Vancouver Island, British Columbia.


Further details about Ridgemont can be found at: www.ridgemontiron.com.

RIDGEMONT IRON ORE CORP.

On behalf of the Board

Mark J. Morabito, President & CEO

Cautionary Note Regarding Forward-Looking Information

Information set forth in this news release may involve forward-looking
statements under applicable securities laws. Forward-looking statements are
statements that relate to future, not past, events. In this context,
forward-looking statements often address expected future business and financial
performance, and often contain words such as "anticipate", "believe", "plan",
"estimate", "expect", and "intend", statements that an action or event "may",
"might", "could", "should", or "will" be taken or occur, or other similar
expressions. All statements, other than statements of historical fact, included
herein including, without limitation; statements about the advancement of the
Redford Property are forward-looking statements. By their nature,
forward-looking statements involve known and unknown risks, uncertainties and
other factors which may cause our actual results, performance or achievements,
or other future events, to be materially different from any future results,
performance or achievements expressed or implied by such forward-looking
statements. Such factors include, among others, the following risks: the need
for additional financing; operational risks associated with mineral exploration;
fluctuations in commodity prices; title matters; environmental liability claims
and insurance; reliance on key personnel; the potential for conflicts of
interest among certain officers, directors or promoters with certain other
projects; the absence of dividends; competition; dilution; the volatility of our
common share price and volume and the additional risks identified the management
discussion and analysis section of our interim and most recent annual financial
statement or other reports and filings with the TSX Venture Exchange and
applicable Canadian securities regulations. Forward-looking statements are made
based on management's beliefs, estimates and opinions on the date that
statements are made and Ridgemont undertakes no obligation to update
forward-looking statements if these beliefs, estimates and opinions or other
circumstances should change, except as required by applicable securities laws.
Investors are cautioned against attributing undue certainty to forward-looking
statements.
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