VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 29, 2012) -Rogue Iron Ore Corp. (TSX VENTURE:RRS) ("Rogue" or the "Company") is pleased to announce that it has closed the second tranche of its non-brokered private placement announced on May 16, 2012. In the second tranche the Company issued 1,293,500 non flow through units ("Units") and 2,272,500 flow through units ("FT Units"). The aggregate capital raised in both tranches is $934,344 through the issuance of 3,410,167 Units and 3,500,829 FT Units.

"With numerous catalysts on the horizon the Company now has the funds necessary to ensure our objectives are met. Drilling has been completed at Radio Hill and as the final assays are received we are able to commence resource estimation in conjunction with ongoing metallurgical testing. In addition to work at Radio Hill, we continue to make progress on the previously announced spin-out of a gold exploration company, Rapier Gold Inc., which is being created by combining our Timmins West gold property with Rio Tinto's adjacent Nat River gold discovery," commented Company President and CEO, Stephen de Jong.

Each $0.12 Unit of the private placement consists of one common share and one half of one non-transferable common share purchase warrant. Each $0.15 FT Unit consists of one flow through common share and one half of one non-transferable common share purchase warrant. Each whole warrant, whether acquired as part of a Unit or a FT Unit, will entitle the holder to purchase one common share at an exercise price of $0.20 for 18 months following completion of the offering.

The private placement and any modifications to it are subject to compliance with applicable securities laws and final approval from the TSX Venture Exchange. The Company may pay finders' fees in accordance with the policies of the TSX Venture Exchange.

The proceeds from the issuance of the FT Units will be used to fund exploration expenditures on the Company's Canadian mineral projects and will qualify as Canadian exploration expenses (as defined in the Income Tax Act). The Company intends to use the net proceeds of the offering primarily for expenditures on the Company's Radio Hill Property and for general working capital.

The Company also announces it has moved to a new location:

P.O. Box 11144, Royal Centre,
1055 West Georgia Street, Suite 2270,
Vancouver, BC V6E 3P3

Telephone and fax numbers remain the same.

About Rogue Iron Ore Corp.:

Rogue's flagship asset, the Radio Hill Iron Ore Project, is unlike most other iron plays as it is on top of exceptional infrastructure, including a highway, power, and the CN Rail mainline, and has also been significantly de-risked through approximately $10M in historical work. The Company recently completed a 10,500 meter drill program, which will be used for resource estimation and metallurgical test work once final assays have been received.

Near Term Company Catalysts Include:

• Results from drilling of thickest portion of Radio Hill Iron Formation - assays pending
• Completion of a resource estimate at Radio Hill
• Results of metallurgical testwork at Radio Hill
• Completion of spin-out gold company to capitalize on Rio Tinto gold discovery (visible gold in 11 separate drill intervals, all shallow drilling)
• Further appointments at management and Board levels

ON BEHALF OF THE BOARD OF DIRECTORS

Stephen de Jong, President & CEO

Follow Rogue Iron Ore Corp. On:
Facebook: [ http://www.facebook.com/rogueiron ]
Twitter: [ http://twitter.com/rogueiron ]

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the common shares in any jurisdiction in which such offer, solicitation or sale would be unlawful. The common shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or the securities laws of any state of the United States and may not be offered or sold within the United States or to, or for the account or the benefit of, any person in the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.

Cautionary Note Regarding Forward Looking Statements:Certain disclosure in this release, including statements regarding the possible completion of a private placement and use of the proceeds from the proposed private placement, constitute forward-looking statements. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company, including that the Company will obtain required regulatory approvals of, and investor participation in, the proposed private placement and that that the Company is able to obtain any government or other regulatory approvals required to complete the Company's planned exploration activities, that the Company is able to procure personnel, equipment and supplies required for its exploration activities in sufficient quantities and on a timely basis and that actual results of exploration activities are consistent with management's expectations. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors include, among others, that the Company will be unable to obtain required regulatory approvals and investor participation in the proposed private placement on a timely basis or at all, that actual results of the Company's exploration activities will be different than those expected by management and that the Company will be unable to obtain or will experience delays in obtaining any required government approvals or be unable to procure required equipment and supplies in sufficient quantities and on a timely basis. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

Contributing Sources

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