Noble Iron Appoints Thomas Caldaroni as Chief Financial Officer

HOUSTON, TEXAS--(Marketwire - Oct. 1, 2012) - Noble Iron Inc. (NIR.V) today announced the appointment of Thomas Caldaroni as the Company's Chief Financial Officer, effective October 22, 2012.

Mr. Caldaroni was formerly the Global Director of Risk Management responsible for all credit and portfolio management activities at Terex Financial Services, Inc., a division of Terex Corporation. Terex is ranked among the world's Top-10 revenue generating construction and industrial equipment manufacturers. Mr. Caldaroni's prior experience includes leadership roles at Pitney Bowes Global Financial Services and at DaimlerChrysler Capital, where he helped develop the company's US based non-captive financing programs. He has also held several audit and accounting roles at Price Waterhouse and Moore Stephens Lovelace.

Willie Swisher, Noble Iron's CEO, stated, "We are very excited to have Tom join our team. His extensive experience in structuring financial relationships and providing growth opportunities to organizations in the dealer and rental verticals will be a tremendous asset to Noble Iron. We look forward to working with Tom on the many opportunities we anticipate going forward."

"I am thrilled with the opportunity to join the Noble Iron Team," stated Tom Caldaroni. He continued, "This is a great opportunity to work with a world class team in a dynamic and rapidly changing industry that is poised for continued growth."

Nabil Kassam, Executive Chairman, commented, "Our aim is to assemble a Noble Iron Dream Team - comprised of talented and visionary individuals working together to build a remarkable, multi-billion dollar company in the equipment industry. We have searched for the right CFO who could diligently manage the financial controls of a growing public company; represent Noble Iron effectively with stakeholders, potential partners and capital markets; and engage fully in strategic thinking surrounding growth and innovation. We are honored to have Tom join us in building Noble Iron."

In connection with his appointment as CFO, Mr. Caldaroni will be provided with a share purchase loan to purchase $150,000 of common shares of the Company, and will be granted 125,000 options to purchase common shares for a period of 10 years from the date of the grant. The purchase of common shares and the grant of options will be completed using a price of the greater of $1.00 and the minimum price permitted under the Company's stock option plan and the policies of the TSX Venture exchange ("TSXVE"). The issuance of all such securities to Mr. Caldaroni is subject to the receipt of all required regulatory and TSXVE approvals.

Noble Iron wishes to thank Jim McInnis for his many years of service to the Company. Jim has played an important role in Noble Iron's growth and expansion. Willie Swisher stated "We wish to thank Jim for his important contributions to the Company and wish him well in the future." Mr. McInnis will remain associated with the company in an advisory role.

More information can be found at www.sedar.com.

About Noble Iron Inc. (NIR.V)

Noble Iron Inc. operates in three complementary sectors: equipment rental, equipment dealership and enterprise software for the construction and industrial equipment industry.

The Company operates its equipment rental business and dealership under the name "Noble Iron". Noble Iron rental depots currently serve customers in California and Texas. Noble Iron's dealership offers select manufacturers' equipment and accessories for sale, and is the exclusive distributor of LiuGong Construction Machinery equipment in Southeast Texas.

The Company's software division, Texada Software, provides software applications to manage the complete equipment ownership lifecycle, from acquisition, rental, sales and other activities, through to disposal. Texada offers in-the-cloud or client-based software, and is scalable to meet the needs of any customer.

This news release may contain forward-looking statements which reflect the Company's current expectations regarding future events. The forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan, "estimate", "expect", "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. These forward-looking statements involve risk and uncertainties, including the difficulty in predicting acceptance of and demands for new products, the impact of the products and pricing strategies of competitors, delays in developing and launching new products, fluctuations in operating results and other risks, any of which could cause results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. Many risks are inherent in the industries in which the Company participates; others are more specific to the Company. The Company's ongoing quarterly filings should be consulted for additional information on risks and uncertainties relating to these forward-looking statements. Investors should not place undue reliance on any forward-looking statements. Management assumes no obligation to update or alter any forward-looking statements whether as a result of new information, further events or otherwise.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.