Mr. Tayfun Eldem reports

NEW ALDERON DIRECTOR AND PRESIDENT OF HBIS CANADA, ZHOU (WAYNE) WEI, TAKES UP HIS POST AND IMMEDIATELY ENGAGES STAKEHOLDERS OF THE KAMI PROJECT

Alderon Iron Ore Corp. and the Kami Mine Limited Partnership (Kami LP) have welcomed Wei (Wayne) Zhou as vice-president, finance and procurement (China), of Kami LP. Since joining the board of directors at the company's annual general meeting in Montreal this June, Mr. Zhou succeeded Jinhui (Jeff) Wang as the new president of HBIS International Holding (Canada) Co. Ltd. and is based in Vancouver, B.C.

Mr. Zhou has almost 15 years of experience in the steel industry. Prior to his appointment as president of HBIS Canada, Mr. Zhou served as manager of the export department for the HBIS group. Mr. Zhou holds an industry management engineering degree from Hebei University of Science and Technology.

"Alderon is very pleased with its long-term partnership with HBIS. Mr. Zhou's appointment to the board represents a continued commitment from HBIS to develop the Kami iron ore project," said Mark Morabito, chairman of Alderon. "We also would like to thank Mr. Jinhui for his exemplary service over the past several years to help derisk the project which helped advance the Kami project through its development stage towards becoming a high-quality iron ore mine."

"Mr. Zhou's expertise in steel operations and management of iron ore importing and exporting will further strengthen our potential to finance the remainder of the capital for the Kami project through global financial markets," added Tayfun Eldem, Alderon's president and chief executive officer. "I am delighted to have Mr. Zhou as a member of the Kami LP executive team and look forward to working with him as we advance the Kami project towards our shared goal of making it a global supplier of premium-quality iron ore concentrates."

Mr. Zhou's first order of business as vice-president, finance and procurement (China), for Kami LP was an aerial tour of the Kami project, the neighbouring operations, and the existing road, rail and power infrastructure. The site visit was followed by a roundtable forum hosted by the government of Newfoundland and Labrador's Department of Natural Resources, where discussions centred around the province's new strategic plan for the mining industry. In addition, Mr. Zhou was introduced to the Labrador West Chamber of Commerce and several local business leaders during a luncheon, where Mr. Eldem presented on the factors impacting the global iron ore market and the growing demand for high-grade iron ore. While in western Labrador, Mr. Zhou also met with the mayors and chief administrative officers of the towns of Labrador City and Wabush and discussed the plans for the Kami project.

Mr. Zhou and members of Alderon's executive team then travelled to Sept-Iles, Que., for a tour of the Port of Sept-Iles facilities, led by its president and chief executive officer, Pierre D. Gagnon. The Port of Sept-Iles is an important component of Quebec's maritime system and is integral to the iron ore value chain that originates in the Labrador Trough and reaches the seaborne market through Sept-Iles. Alderon has contributed $20.5-million toward the construction of the new loading facility owned and operated by the Port Authority of Sept-Iles and has a long-term contract to ship eight million tonnes per year of concentrates through the deep-sea port.

Mr. Zhou commented: "The site visits and stakeholder meetings in western Labrador and Sept-Iles, Que., allowed me to see first-hand the true potential of the Labrador Trough as a global supplier of premium iron ore products. The engagement also allowed me to gain an appreciation for what responsibilities we have to their communities and how the mining industry can help grow their respective economies by developing the Labrador Trough." He added, "The strategic partnership with Alderon, through which we plan to jointly develop the Kami project, will create significant value for both HBIS and Alderon shareholders as well as the communities in which we plan to operate."

About Alderon Iron Ore Corp.

Alderon is a leading iron ore development company in Canada. The Kami project, owned 75 per cent by Alderon and 25 per cent by HBIS through the Kami Mine Limited Partnership, is located within Canada's premier iron ore district, the Labrador Trough, and is surrounded by three producing iron ore mines. Its port handling facilities are located in Sept-Iles, the leading iron ore port in North America. HBIS is Alderon's strategic partner in the development of the Kami project and China's second-largest steel producer.

We seek Safe Harbor.