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Iron Creek Provides Update on Progress at its Victoria JV Project with Hochschild Mining

July 22, 2011

TSX-V: IRN

VANCOUVER, July 22, 2011 /PRNewswire/ – Iron Creek Capital Corp. (TSX-V: IRN)
is pleased to report that Hochschild Mining Holdings Limited (HOC.L:
“Hochschild”), operators of the Victoria Joint Venture project, has
provided an exploration update.

The Victoria Property is an outstanding 37km long land package along the
Domeyko Fault Zone in northern Chile, located approximately midway
between the world-class porphyry copper districts at La Escondida and
El Salvador. The property is prospective for porphyry copper deposits
and epithermal precious metals systems, and contains multiple targets.

Recent activities at the Victoria Joint Venture include:

        --  Detailed mapping, sampling and review of the Picaron porphyry
            Cu ±Au ±Mo target (see further discussion below)
        --  Detailed review of the Nueve Vidas porphyry Au±Ag target (see
            news release dated March 4th, 2011)
        --  Continuing work to define a resource at the Vaquillas Au-Ag
            project
        --  Detailed review of the Victoria II target area which contains
            Ag-bearing veins and alteration that may indicate the presence
            of a concealed porphyry Cu target
        --  Completion of 1,044 line km of ground magnetic surveying to
            fill in gaps between earlier surveys
        --  Collection of further colluvial and soil samples to in-fill and
            complete existing sampling grids
        --  Review of all current and historic exploration data to help
            define new targets for drill testing, and to properly plan the
            next stages of exploration on the property

Current plans for the joint venture include:

        --  Drill testing of priority targets to start in late August 2011,
            subject to drill rig availability, beginning at the Picaron
            porphyry Cu ±Au ±Mo target
        --  Further drill testing of the Nueve Vidas porphyry gold target
            to follow on later in 2011
        --  Detailed reviews of the Incahuasi and Cenizas porphyry copper
            targets with a view to delineating drill targets for late 2011
            or early 2012
        --  Continued review of all exploration data, and the acquisition
            of new exploration data as appropriate, to define further
            targets for future drill testing

The Picaron Porphyry Copper Target

Recent detailed mapping and sampling in trenches from the Picaron
porphyry Cu ±Au ±Mo target has outlined:

        --  Highly anomalous metals values from surface trenches, despite
            intense supergene oxidation and leaching of the outcrops, with
            values up to 946ppm Cu, 135ppm Mo, and 425ppb Au
        --  A 1.5km north-south by 500m east-west zone of quartz-vein
            stockworks. Geochemical anomalies are centred on this area of
            veining
        --  Occurrences of oxide copper minerals, principally turquoise,
            over an area of approximately 1km north-south by 250m
            east-west, occurring entirely within the area of quartz-vein
            stockworks

Hochschild has indicated that current plans are to complete several
diamond drill holes to depths of approximately 500m, in order to fully
test the Cu ±Au ±Mo potential of the Picaron target. Drilling is
scheduled to start towards the end of August.

QA/QC

Hochschild’s samples are collected in accordance with accepted industry
standards and best practices. Samples are submitted respectively to
ACME Laboratories and ALS Chemex in Santiago and La Serena, Chile, for
analysis. As standard procedure, Hochschild conducts routine
quality-assurance and quality-control analysis on all assay results,
including the systematic utilization of certified reference materials,
blanks and field duplicates.

Qualified Person

Demetrius Pohl, P.Geo., is the Company’s Qualified Person as defined by
National Instrument 43-101, and is responsible for the accuracy of the
technical information in this news release. Dr. Pohl has verified that
it is an accurate summary of the reports provided to Iron Creek by
Hochschild, and contained within reports by historic workers. However,
Iron Creek has not independently verified Hochschild’s exploration
results, or those of historic workers.

ON BEHALF OF THE BOARD

    “Timothy J. Beale”
Timothy 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.

SOURCE Iron Creek Capital Corp.


Source: newswire