IRN

Iron Creek Capital Corp. (TSX VENTURE:IRN) ("Iron Creek" or the "Company") is
pleased to announce that it has signed a binding Letter of Intent (the
"Agreement") with Minera Fuego Limitada ("Fuego"), a privately owned Chilean
exploration company, whereby Iron Creek will acquire a 100% interest in five
properties prospective for gold, silver and copper, located in northern Chile. 


About the Agreement

Pursuant to the Agreement, a wholly owned Chilean subsidiary of Iron Creek will
purchase from Fuego the five mining concessions in northern Chile known as the
San Guillermo, Calvario-Mirador, San Valentino, Bronce Weste and Reina Hija
concessions (the "Concessions").


The purchase is subject to the completion of a satisfactory due diligence review
by Iron Creek, and is intended to be completed within 60 days from the signing
of the Agreement.


In consideration for the Concessions, Iron Creek shall grant to Fuego a 2% Net
Smelter Royalty on precious metals and a 1% Net Smelter Royalty on base metals
mined from the Concessions (the "NSR Royalties") and, subject to regulatory
approval, issue to Fuego and its nominees or assigns, 3,479,464 common shares,
which shall represent 9.9% of the issued and outstanding share capital of the
Company.


Additionally, the Company shall issue, subject to regulatory approval, a further
1 million common shares to Fuego upon completion by Iron Creek of its first
feasibility study regarding a project to be developed on any of the Concessions.


Iron Creek shall have the perpetual right to acquire 50% of each of the NSR
Royalties on each property in consideration of a cash payment to Fuego of USD
5.0 million, on a property by property basis.


Following closing, Iron Creek shall appoint a representative of Fuego to its
Board of Directors and Fuego shall have the right to designate a member of the
Board so long as Fuego owns more than 5% of the Company's common shares.


About the Concessions

San Guillermo comprises more than 24,000 Ha located about 70 km SE of Taltal
within the Palaeocene Belt of northern Chile, and complements Iron Creek's
50,000 Ha Las Pampas property located some 100 km to the north that was recently
optioned to Kinross Gold's (TSX:K) Chilean subsidiary. The San Guillermo
property also surrounds Yamana Gold's (TSX:YRI) Amancaya project, where several
precious metals-rich veins have been drill tested. The San Guillermo property is
mainly prospective for low-sulphidation epithermal precious metals veins similar
to Yamana Gold's El Penon and Fortuna mines, located to the north of Iron
Creek's Las Pampas property. Previous exploration by Fuego, including
approximately 46,000m of drilling, has focused on several targets on the San
Guillermo property. Numerous drill intercepts are reported, but much of the
property remains unexplored.


Calvario-Mirador are two properties separated by about 5 km of strike located
about 83 km northeast of La Serena, with the northern Calvario (2,200 Ha)
property representing a porphyry Cu-Mo target with possible secondary
enrichment, and the southern Mirador (3,300 Ha) property representing a
higher-level system with anomalous gold at surface. Approximately 4,300m of
drilling at Calvario has cut weak secondary enrichment to date. No drilling has
been carried out at Mirador.


Bronce Weste totals 4,344 Ha and is located southeast of Los Vilos and
immediately to the west of the El Bronce de Petorca Au-Ag-Cu mine (Cia. Minera
Can-Can S.A.). A limited number of structural targets anomalous in Cu, Au and
other elements have been tested by Fuego by almost 5,000m of drilling. A very
large, structurally controlled alteration zone on the property remains to be
fully explored.


San Valentino totals 1,500 Ha and is located east-southeast of Los Vilos and 25
km east of the El Bronce de Petorca Au-Ag-Cu mine (Cia. Minera Can-Can S.A.).
Sub-volcanic porphyries of likely Paleocene age intrude Upper Cretaceous
volcanic rocks and are associated with advanced argillic alteration with
important Mo-Au-Zn-Cu geochemical anomalies, possibly representing the upper
levels of a deep porphyry copper target. Peripheral auriferous silica ledges
have been tested by approximately 1,600m of drilling carried out by Fuego.


Reina Hija is a porphyry copper target totalling 1,800 Ha located along the
northern extensions of the Domeyko Cordillera porphyry copper belt, some 2.5 km
south of the Queen Elizabeth porphyry copper deposit (low grade - Anglo
American), and 34 km northeast of BHP Billiton's Cerro Colorado copper mine.
Hydrothermal alteration and anomalous geochemistry on the property suggest a
possible porphyry copper target likely related to the neighbouring Queen
Elizabeth target.


Tim Beale, President of Iron Creek, commented: "The signing of this agreement is
an important milestone for Iron Creek. Having recently completed the
consolidation of the Company's shares, and successfully raised approximately
$5.6 million in a private placement financing, the acquisition of Minera Fuego's
exploration properties totalling more than 37,000 Ha located along some of the
most prospective mineral belts in northern Chile, signifies a major advance for
the Company. The important San Guillermo property is complementary to our
existing Las Pampas and Magallanes properties, and establishes Iron Creek as a
major player in the important Paleocene mineral belt. These properties are low
altitude, easily accessed, and are highly prospective for bonanza-style
epithermal precious metals veins. Calvario- Mirador, San Valentino and Reina
Hija all represent porphyry copper targets, with significant untested potential,
particularly for deeper hypogene copper centres. Bronce West has potential for
mineralised veins, as well as a possible deep porphyry copper target.


The company will focus in the short term in reprocessing existing exploration
databases in order to refine target models, complemented by limited additional
surface exploration, prior to farming out the most attractive targets for third
party investment and drill testing."


Dr. Demetrius Pohl, PhD., Certified Professional Geoscientist (CPG), an
independent consultant, is the Company's Qualified Person for the purposes of
National Instrument 43-101 Standards of Disclosures for Mineral Projects of the
Canadian Securities Administrators, and has approved the written disclosure of
the technical information contained in this news release.


About Iron Creek

Iron Creek Capital Corp. is a Vancouver-based exploration company focused on the
acquisition and exploration of world-class mineral systems in Chile. The Company
has assembled a portfolio of exploration projects prospective for gold, silver
and copper mineralization.


ON BEHALF OF THE BOARD

Timothy J. Beale, President

Neither the TSX Venture Exchange nor the Investment Industry Regulatory
Organization of Canada accepts responsibility for the adequacy or accuracy of
this release.


Forward-Looking Statement

Some of the statements in this news release contain forward-looking information
that involves inherent risk and uncertainty affecting the business of Iron Creek
Capital Corp. Actual results may differ materially from those currently
anticipated in such statement.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Iron Creek Capital Corp.
604.687.5544
604.688.1157 (FAX)
info@ironcreekcapital.com
www.ironcreekcapital.com

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