Alderon Resource Corp. is an exploration and development company with an iron ore project that is slated for near term production. The Kamistiatusset (“Kami”) Property is located next to mining towns of Wabush, Labrador City and Fermont in Western Labrador, Canada. The property is also within close proximity to road, railway and hydro power.

Based on drilling to date, the Kami Property may contain 200-250 million tonnes with grades between 28 - 35% iron. These grades are analogous to those at Consolidated Thompson's Bloom Lake Deposit. The goal of the 2010 $7.5 million program is to delineate 400-500 million tonnes at grades between 28-34% iron. The potential tonnage and grade are conceptual in nature and it is uncertain if further exploration will delineate a mineral resource.

Continued worldwide demand for steel will keep driving iron ore prices upward and Alderon is well positioned to benefit from the continued demand. The Alderon team is comprised of skilled professionals with significant iron ore expertise to advance Kami towards production.