Century Global Commodities Corporation and Joyce Direct Iron Inc. (JDI), or collectively (the Company) announced the Feasibility Study (FS) results for the Joyce Lake Direct Shipping Iron Ore (DSO) Project (the Project) of the Attikamagen Property, Labrador. JDI is 100% owner of the Joyce Lake DSO Project. The FS was completed by BBA Inc. (BBA), with input from Stantec Consulting Ltd., Goldminds Geoservices Inc., Pinchin Ltd., and LVM, a division of Englobe Corporation.

The FS results disclosed in this news release is in Canadian dollars unless otherwise stated. Please note estimates of total values in tables may differ slightly from total values in the text, due to rounding. Project Summary: The Joyce Lake DSO Project is located in the province of Newfoundland and Labrador in proximity to Schefferville, Quebec.

The Project comprises the following main sectors: Open pit mine which delivers run of mine high iron grade material to the crushing and screening plant, while stockpiling lower grade material for crushing and screening at the end of the open pit mine life. Dry crushing and screening of ore generating a split of 65% sinter fines and 35% lump products with an average annual production of 2.5 million dmt of DSO products at an average grade of 59.94% Fe. Approximately 7 years production including transporting to market fines products in the summer and dried lump products in the winter.

Transportation of products over a 43km dedicated haul road from the mine site to a new rail siding near Astray Lake, which connects to existing rail infrastructure for product transport to the Port of Sept-Îl (POS) Multi-User port at Pointe Noire, for shipment to China and other world markets. Mineral Resources: The Mineral Resource reporting was completed in GENESIS and the current pit constrained Mineral Resources (Current MRE) were estimated in conformity with generally accepted CIM Estimation of Mineral Resources and Mineral Reserves Best Practices Guidelines of 2019. The Current MRE was based on results from the 2011-2013 drilling program and are at a cut-off grade of 50% Fe generating 23.97 million tonnes of Measured and Indicated Mineral Resources at an average grade of 58.63% total Iron (Fe) and 0.83 million tonnes of Inferred Mineral Resources.

The pit constrained Mineral Resources at a 55% cut-off grade was also calculated for sensitivity purposes. The Current MRE is constrained within an optimized pit shell with a 50% Fe cut off grade applied as per CIM 2019 guidelines. The cut-off grade was applied within an optimized pit shell, selected to achieve an overall resource iron content that would, in the author's opinion, meet typical DSO grade market specifications and have a reasonable prospect for economic extraction.