Alderon Files Updated Preliminary Economic Assessment for Kami Project on SEDAR

Alderon Iron Ore (TSX:IRON) (“Alderon” or the “Company”) announces the filing on SEDAR of its National Instrument 43-101 Technical Report entitled “Update to the Re-Scoped Preliminary Economic Assessment of the Kamistiatusset (Kami) Iron Ore Property, Labrador”, dated effective November 7, 2017 (the “Updated PEA”). The Updated PEA is an update to a re-scoped preliminary economic assessment on the Kami Iron Ore Project that was issued on March 14, 2017 (the “March 2017 PEA”).

The March 2017 PEA was prepared based on a plan to use the depleted pit at the Wabush Scully Mine as part of a tailings solution for the Kami Project. The Wabush Scully Mine was recently acquired by a third party who has stated its intention to re-open the mine. As a result, the Updated PEA has been prepared to remove the components related to the Wabush Scully Mine. Alderon announced the results of the Updated PEA in a news release on November 7, 2017. There are no material differences between the results announced in that news release and those contained in the final report, as filed on SEDAR.

Mark Morabito, Chairman and CEO of Alderon, said:

“The Updated PEA demonstrates that, even without the use of the Wabush Scully Mine, the Kami Project maintains robust economics.

Stricter environmental regulation has driven demand for high-grade, low-impurity iron ore, like the concentrate that will be produced from the Kami Project, as it allows end users to improve productivity, reduce costs, and meet more stringent environmental standards.”

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