Alderon Commences Work at Its Proposed Terminal Site Near the Port
of Sept-Iles
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 2, 2014) -
Alderon Iron Ore Corp. (TSX:ADV)(NYSEMKT:AXX) ("Alderon" or the
"Company") is pleased to announce that it has commenced preliminary
work for the Pointe-Noire Terminal facility at the Port of
Sept-Îles, Quebec. This is the product handling facility for the
Kami Iron Ore Project ("Kami Project") with mining and processing
facilities located in western Labrador. The Kami Project is held by
the Company's affiliate The Kami Mine Limited Partnership ("Kami
LP").
Site preparations
have commenced at the terminal facility, which will be built for
receiving, unloading, stockpiling and reclaiming concentrate for
ship loading. The terminal facility will consist of a railcar
unloading stub track, a single rotary car dumper, a concentrate
storage yard with stacker-reclaimer and interconnecting conveyor
systems. Two of the most critical pieces of the material handling
system for the Kami Project, the car dumper and the
stacker-reclaimer, have already been ordered. Please refer to news
release dated January 28, 2014 for more information about the
equipment orders.
"After a tremendous
amount of hard work from the entire Alderon team, we are very
excited to have commenced with the first step in preparation for
construction for the Kami Project," says Tayfun Eldem, Alderon
President and CEO. "This step marks the continuation of a very
successful start to the year and we look forward to hitting many
more milestones in the next six months."
Progress on the new
multi-user dock by the Port of Sept-Îles is progressing with
construction scheduled to wrap up during the summer of 2014. The
new dock will provide ship-loading services to the Kami LP for up
to 8 million tonnes of iron ore annually as per the agreement with
the Port of Sept-Îles. For additional information about the
agreement, please refer to Alderon's News Release dated July 16,
2012.
Alderon also
confirms that it has filed with the applicable Canadian securities
regulatory authorities on SEDAR its 2013 audited annual financial
statements and management's discussion and analysis in relation
thereto (the "Statements") and Annual Information Form for the year
ended December 31, 2013 ("AIF"). The Company has also filed the
Statements and its Form 40-F with the United States Securities and
Exchange Commission on EDGAR. The Statements, AIF and Form 40-F are
available on the Company's website at www.alderonironore.com.
Shareholders have the ability to receive a hard copy of the
Statements free of charge upon request to the Company.
About Alderon
Alderon is a leading
iron ore development company in Canada with offices in Montreal,
Vancouver, St. John's and Labrador City. The Kami Project, owned
75% by Alderon and 25% by Hebei Iron & Steel Group Co. Ltd.
("HBIS") through The Kami Mine Limited Partnership, is located
within Canada's premier iron ore district and is surrounded by four
producing iron ore mines. Its port handling facilities are located
in Sept-Iles, the leading iron ore port in North America. The
Alderon team is comprised of skilled professionals with significant
iron ore expertise to advance Kami towards production. HBIS is
Alderon's strategic partner in the development of the Kami Project
and China's largest steel producer.
Brian Penney, P.Eng.
the Chief Operating Officer for Alderon and a Qualified Person as
defined by National Instrument 43-101, has reviewed and approved
the technical information contained in this news release.
For more information
on Alderon, please visit our website at www.alderonironore.com.
ALDERON IRON ORE
CORP.
On behalf of the
Board
Mark J
Morabito, Executive Chairman
Cautionary Note
Regarding Forward-Looking Information
This press
release contains "forward-looking information" within the meaning
of the U.S. Private Securities Litigation Reform Act and Canadian
securities laws concerning anticipated developments and events that
may occur in the future. Forward-looking information contained in
this press release include, but are not limited to, statements with
respect to (i) the development of the Kami Project; (ii) the
details of the components of the terminal facility; (iii) the
attainment of future milestones; and (iv) the construction schedule
for the new multi-user dock.
In certain
cases, forward-looking information can be identified by the use of
words such as "plans", "expects" or "does not expect", "is
expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate", or "believes",
or variations of such words and phrases or state that certain
actions, events or results "may", "could", "would", "might" or
"will be taken", "occur" or "be achieved" suggesting future
outcomes, or other expectations, beliefs, plans, objectives,
assumptions, intentions or statements about future events or
performance. Forward-looking information contained in this press
release is based on certain factors and assumptions regarding,
among other things, receipt of governmental and other approvals,
the estimation of mineral reserves and resources, the realization
of resource estimates, iron ore and other metal prices, the timing
and amount of future exploration and development expenditures, the
estimation of initial and sustaining capital requirements, the
estimation of labour and operating costs, the availability of
necessary financing and materials to continue to explore and
develop the Kami Project in the short and long-term, the progress
of exploration and development activities, the receipt of necessary
regulatory approvals, the completion of the Federal environmental
assessment process, the estimation of insurance coverage, and
assumptions with respect to currency fluctuations, environmental
risks, title disputes or claims, and other similar matters. While
the Company considers these assumptions to be reasonable based on
information currently available to it, they may prove to be
incorrect.
Forward looking
information involves known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or
achievements of the Company to be materially different from any
future results, performance or achievements expressed or implied by
the forward-looking information. Such factors include risks
inherent in the exploration and development of mineral deposits,
including risks relating to changes in project parameters as plans
continue to be redefined including the possibility that mining
operations may not commence at the Kami Property, risks relating to
variations in mineral resources, grade or recovery rates resulting
from current exploration and development activities, risks relating
to the ability to access rail transportation, sources of power and
port facilities, risks relating to changes in iron ore prices and
the worldwide demand for and supply of iron ore and related
products, risks related to increased competition in the market for
iron ore and related products and in the mining industry generally,
risks related to current global financial conditions, uncertainties
inherent in the estimation of mineral resources, access and supply
risks, reliance on key personnel, operational risks inherent in the
conduct of mining activities, including the risk of accidents,
labour disputes, increases in capital and operating costs and the
risk of delays or increased costs that might be encountered during
the development process, regulatory risks, including risks relating
to the acquisition of the necessary licences and permits,
financing, capitalization and liquidity risks, including the risk
that the financing necessary to fund the exploration and
development activities at the Kami Project may not be available on
satisfactory terms, or at all, risks related to disputes concerning
property titles and interest, risks related to disputes with
Aboriginal groups, environmental risks, and the additional risks
identified in the "Risk Factors" section of the Company's Annual
Information Form for the most recently completed financial year,
which is included in its Annual Report on Form 40-F filed with the
U.S. Securities and Exchange Commission (the "SEC") or other
reports and filings with applicable Canadian securities regulators
and the SEC. Accordingly, readers should not place undue reliance
on forward-looking information. The forward-looking information is
made as of the date of this press release. Except as required by
applicable securities laws, the Company does not undertake any
obligation to publicly update or revise any forward-looking
information.
Alderon Iron Ore Corp.Montreal
Office514-281-9434514-281-5048Alderon Iron Ore Corp.Vancouver
Office604-681-8030604-681-8039Alderon Iron Ore Corp.Evelyn
Cox1-604-681-8030 ext
2231-888-990-7989info@alderonironore.comwww.alderonironore.com
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