Alderon Iron Ore Corp

The Rose Deposit currently contains an NI 43-101 Mineral Resource estimate of 1.1 billion tonnes Measured and Indicated at 29.6% iron and an additional 447.8 million tonnes Inferred at 29.5% iron. The mineral reserves for the Rose Deposit are 668.5 million tonnes Proven and Probable at 29.5% iron. Based on the Rose Deposit Feasibility Study, Alderon plans to commence commercial production at a rate of 8 million tonnes per year at a grade of 65.2% iron with a mine life of 30 years. The Feasibility Study also illustrated robust project economics including a pre-tax NPV8 of US$3.24 billion, a pre-tax IRR of 29.3%, with a payback period of 3.8 years, capital costs of US$1.27 billion, operating costs of US$42.17/tonne concentrate, with commercial production expected Q4 2015. For more information, please refer to the News Release dated January 9, 2013. Worldwide demand for steel will keep driving iron ore prices upward and Alderon is well positioned to benefit from the continued demand. The Alderon team is comprised of skilled professionals with significant iron ore expertise to advance Kami towards production.

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