Alderon adds two Experienced Female Mining Executives to Board and
Management Team
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec 11, 2013) -
Alderon Iron Ore Corp. (TSX:ADV) (NYSEMKT:AXX) ("Alderon" or the
"Company") announces that Ms. Diana Walters, President and CEO of
Liberty Metals & Mining Holdings, LLC ("LMM") has joined the
Alderon Board of Directors in place of Mr. Noel Dunn who has
resigned. In addition, Alderon has appointed Evelyn Cox as Vice
President Corporate Communications.
Director
Appointment
Ms. Diana Walters is
President and CEO of LMM. LMM is one of the Company's largest
shareholders, owning approximately 14.5% of the issued and
outstanding common shares.
Ms. Walters has
twenty-seven years of experience in the Natural Resources sector,
both as an investment banker and in operating roles. Before joining
LMM, she was a Managing Partner of Eland Capital, LLC, a Natural
Resources advisory firm. Ms. Walters has extensive investment
experience with both debt and equity through leadership roles at
Credit Suisse, HSBC and other firms. Ms. Walters graduated with
honors from the University of Texas at Austin with a BA in Plan II
Liberal Arts and an MA in Energy and Mineral Resources.
Ms. Walters replaces
Mr. Dunn as the representative of LMM on the Alderon Board of
Directors. Mr. Dunn has provided significant contributions over the
almost two year period he has served on the Board. The Board would
like to acknowledge and thank Mr. Dunn for his significant
contributions to the Company's development to date.
Appointment of Vice
President Corporate Communications
Ms. Cox brings over
10 years of experience in the public markets within the mineral
exploration sector. In her role, Ms. Cox will be responsible for
developing and managing Alderon's communications activities. Prior
to joining Alderon, Ms. Cox was the Executive VP Corporate
Communications at King & Bay West ("KBW"), a management
services company within the mining sector. Through her association
with KBW, Ms. Cox has been involved with Alderon since its
acquisition of the Kami Project at the end of 2009.
Ms. Cox received her
BSc (Honours) in Geology from the University of British Columbia
and has completed the Economic Guidelines for Mineral Exploration
Course at Queen's University.
About Alderon
Alderon is a leading
iron ore development company in Canada with offices in Vancouver,
Montreal, St. John's and Labrador City. The Kami Project, owned 75%
by Alderon and 25% by Hebei Iron & Steel Group Co. Ltd.
("HBIS"), is located within Canada's premier iron ore district and
is surrounded by four producing iron ore mines. 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.
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 the development of the Kami Project.
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 Property in the short and long-term, the progress
of exploration and development activities, the receipt of necessary
regulatory approvals, the completion of the 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 Property 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 223 or
1-888-990-7989info@alderonironore.comwww.alderonironore.com
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