Alderon Commences Final Drill Program  

VANCOUVER, BC - Alderon Iron Ore Corp. reported that the 2012 winter drilling program has commenced at its 100% owned Kamistiatusset ("Kami") Iron Ore Project in western Labrador. The four month drill program will be focused predominately on North Rose and will include up to 18,000 metres of drilling with six drills. The program will concentrate on infill drilling with the goal of upgrading the current mineral resource into the measured and indicated categories in preparation for the Feasibility Study expected in Q3 2012.

"We are excited to get our 2012 program underway and be back drilling on North Rose," says Tayfun Eldem, President and CEO of Alderon. "Our 2011 program was extremely successful and we are looking forward to building on that success as we work to upgrade our resource in advance of completing the Feasibility Study in Q3. The final phase of drilling represents another major milestone in driving Kami through the development stage into production."

North Rose, together with Rose Central and Mills Lake, have a currently defined NI 43-101 indicated resource of 490 million tonnes at 30.0% iron and an additional inferred resource of 598 million tonnes at 30.3% iron.