Alderon Announces Initial Iron Resource at North Rose

Alderon Resource Corp. (TSXV:ADV,OTC:ALDFF,PINK:ALDFF) announced the results of a mineral resource estimate on the Kami iron ore project.

The press release is quoted as saying,

The inferred Mineral Resource estimate at North Rose totals 480 million tonnes at 30.3% iron based on a cut-off grade of 20% iron. The resource estimate for all three zones (North Rose, Rose Central and Mills Lake) within the Kami Project is:

• 490 million tonnes at 30.0% iron indicated
• 598 million tonnes at 30.3% iron inferred

These results are fantastic and we have again exceeded our own publically stated objectives. The goal of our current program is to upgrade the majority of the inferred resource into the indicated category ahead of our feasibility study expected by the third quarter of 2012.