ADV Alderon Iron Ore Corp

NOT FOR DISTRIBUTION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES

Alderon Resource Corp. (TSX VENTURE:ADV)(OTCQX:ALDFF) ("Alderon") is pleased to
announce that it has closed its previously announced private placement financing
with a syndicate of underwriters led by Haywood Securities Inc. (the
"Underwriters") for 9,125,000 units (the "Units") of Alderon, including
1,825,000 Units sold pursuant to the exercise in full of an over-allotment
option by the Underwriters, at a price of C$2.20 (the "Issue Price") for gross
proceeds of C$20,075,000 (the "Offering"), on a bought deal basis. Each Unit
consists of one common share in the capital of Alderon (a "Common Share") and
one-half of one common share purchase warrant. Each whole common share purchase
warrant (a "Warrant") will entitle the holder to acquire one Common Share at a
price of C$2.80 for a period of 24 months from the closing date.


If the closing price of the Common Shares of Alderon on the TSX-V is greater
than C$4.00 per share for 20 consecutive trading days, Alderon may give written
notice to warrant holders that the Warrants will expire 20 calendar days after
Alderon issues a news release disclosing the early expiry of the Warrants.


Alderon intends to use the net proceeds of the Offering to continue to advance
its Kamistiatusset Project located in the Labrador Trough iron ore district in
Canada, and for general corporate and working capital purposes.


Alderon has paid the Underwriters a cash commission equal to 6.0% of the gross
proceeds of the Offering and has issued compensation options entitling the
Underwriters to purchase such number of Units that is equal to 6.0% of the
aggregate number of Units sold pursuant to the Offering, at an exercise price
equal to the Unit Price, for a period of 24 months following the closing of the
Offering.


The Units sold under this offering were offered by way of a private placement in
the Provinces of Canada (and were also offered in the United States on a private
placement basis pursuant to an exemption from the registration requirements of
the United States Securities Act of 1933, as amended).


All securities issued in connection with the Offering are subject to a statutory
hold period of four months plus one day from the date of issuance in accordance
with applicable securities legislation.


The securities offered hereby have not been, nor will they be, registered under
the United States Securities Act of 1933, as amended, and may not be offered or
sold in the United States or to, or for the account or benefit of, U.S. persons
absent registration or an applicable exemption from the registration
requirements. This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the securities in
any state or province in which such offer, solicitation or sale would be
unlawful.


About Alderon Resource Corp.

Alderon is a leading iron ore exploration and development company in Canada. The
Kami Project is located within an existing iron ore district and is surrounded
by producing iron ore mines. The Alderon team is comprised of skilled
professionals with significant iron ore expertise to advance Kami towards
production.


For more information on Alderon, please visit our website at www.alderonmining.com.

ALDERON RESOURCE CORP.

On behalf of the Board

Mark J Morabito, President & CEO

Information set forth in this news release may involve forward-looking
statements under applicable securities laws. Forward-looking statements are
statements that relate to future, not past, events. In this context,
forward-looking statements often address expected future business and financial
performance, and often contain words such as "anticipate", "believe", "plan",
"estimate", "expect", and "intend", statements that an action or event "may",
"might", "could", "should", or "will" be taken or occur, or other similar
expressions. By their nature, forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause our actual
results, performance or achievements, or other future events, to be materially
different from any future results, performance or achievements expressed or
implied by such forward-looking statements. Such factors include, among others,
the following risks: the risks associated with outstanding litigation, if any;
risks associated with project development; the need for additional financing;
operational risks associated with mining and mineral processing; fluctuations in
commodity prices; title matters; environmental liability claims and insurance;
reliance on key personnel; the potential for conflicts of interest among certain
officers, directors or promoters with certain other projects; the absence of
dividends; competition; dilution; the volatility of our common share price and
volume; and tax consequences to U.S. shareholders. Forward-looking statements
are made based on management's beliefs, estimates and opinions on the date that
statements are made and the Company undertakes no obligation to update
forward-looking statements if these beliefs, estimates and opinions or other
circumstances should change, except as required by applicable law. Investors are
cautioned against attributing undue certainty to forward-looking statements.

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