Alderon Continues to Receive Positive Drill Results in Preparation for Feasibility Study (ccnm)

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 16, 2012) -Alderon Iron Ore Corp. (TSX:ADV)(OTCQX:ALDFF) ("Alderon") is pleased to announce that it has received the final set of results from its 2011 drill program on the 100% owned Kamistiatusset ("Kami") Iron Ore Project in western Labrador. The 2011 drilling campaign consisted of 86 holes, totaling 22,250 metres, and was executed with the goal of upgrading the currently defined mineral resource estimate from the Indicated and Inferred categories to the Measured and Indicated categories in preparation for the Feasibility Study. The majority of these results are from the Rose Central Zone and are all within the area of the currently defined National Instrument ("NI") 43-101 mineral resource estimate. Highlights from this most recent set of results include:

"We are very pleased with the results from our entire 2011 drilling program, as they show the consistent grades and thicknesses that we expected," says Tayfun Eldem, President and CEO of Alderon. "These results, along with those from our current drilling campaign, which is our final drill campaign before the Feasibility Study, will enable us to continue working towards our goal of upgrading the mineral resource in advance of the Feasibility Study expected in Q3 of 2012."

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

Complete assay highlights with drill plan maps are posted on the Alderon website at: http://www.alderonironore.com/projects/kami/.

True widths of the reported intercepts above vary depending on the angle of the individual drill holes and are estimated to be between 41% and 65% of the core interval as reported. All samples were prepared from sawn HQ-sized half-core sections on-site in Labrador. Split drill core samples are then sent to independent contractor SGS Mineral Services in Lakefield, Ontario for analyses. Total iron analysis is performed using X-ray fluorescence (XRF) and the magnetic component is determined by Satmagan magnetic analysis. FeO titration analysis permits an estimation of hematite. Standards, blanks, and duplicate assays are included at regular intervals in each sample batch submitted from the field as part of an ongoing Quality Assurance/Quality Control program.