FEM

Ferrum Americas Mining Inc. , (TSX VENTURE:FEM) ("Ferrum" or the "Company") is
pleased to announce it has completed a non-brokered private placement of units
(the "Units"). The Company issued 1,766,667 Units at a price of $0.15 per Unit
for gross proceeds of $265,000. Each Unit consists of one common share of the
Company and one full common share purchase warrant. 


Each warrant shall be exercisable for a period of 36 months to purchase one
common share of the Company at a price of $0.20 per share.


No fees or commission were paid with respect to the private placement.

Proceeds from the private placement will be used for general corporate purposes. 

The private placement remains subject to the approval of the TSX Venture Exchange.

About Ferrum Americas Mining

Ferrum Americas is focused on developing iron ore projects in the Americas. The
Company is targeting high quality deposits that have access to existing
transportation infrastructure and have relatively simple beneficiation
processing requirements. 


Ferrum Americas has rights to acquire a 98% interest in the Cerro Rojo iron ore
project in Bolivia. Located 600 kilometres east of Santa Cruz and approximately
55 kilometres from Puerto Suarez and the Hidrovia river system near Corumba,
Brazil, Cerro Rojo is a large banded iron formation striking for more than 4
kilometres, according to reports prepared by Rio Tinto in 1999 and verified by
Ferrum.


A NI 43-101 mineral resource estimate, prepared by P&E Mining Consultants Inc.,
includes Indicated resources of 111.0 million tonnes at 48.1% Fe and Inferred
resources of 175.9 million tonnes grading 48.8% Fe at a 15% iron cut-off grade.


At a cut-off grade of 50% Fe, Indicated resources are 31.2 million tonnes at
51.5% Fe and Inferred resources are 63.0 million tonnes at 52.0% Fe. The
NI-43-101 Technical Report is available at www.ferrumamericas.com.


Ferrum is also evaluating other iron ore opportunities within Bolivia and in
neighbouring jurisdictions, where the criteria of low capital costs and simple
processing are also met.


Forward Looking Statements

This news release may contain forward-looking statements that are based on
Ferrum Americas Mining Inc.'s expectations, estimates and projections regarding
its business and the economic environment in which it operates. These statements
are not guarantees of future performance and involve risks and uncertainties
that are difficult to control or predict. Therefore, actual outcomes and results
may differ materially from those expressed in these forward-looking statements
and readers should not place undue reliance on such statements. Statements speak
only as of the date on which they are made, and the Company undertakes no
obligation to update them publicly to reflect new information or the occurrence
of future events or circumstances, unless otherwise required to do so by law.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Ferrum Americas Mining Inc.
Laurence Curtis
Chairman
1 289 242 7422
lwcurtis@cogeco.ca


Ferrum Americas Mining Inc.
Nick Tintor
President and CEO
1 416 987 0855
ntintor@rgmi.ca


Ferrum Americas Mining Inc.
Leslie Haddow
Corporate Secretary
1 416-637-3523
lhaddow@rgmi.ca
www.ferrumamericas.com

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