Alderon is a development company with an iron ore project located next to mining towns of Wabush, Labrador City and Fermont in Western Labrador, Canada. The property is also surrounded by four producing mines and is within close proximity to a common carrier railway as well as a deep sea port which will provide year round access to the global market. Kami currently hosts an NI 43-101 Mineral Resource estimate of 490 million tonnes indicated at 30.0% iron and an additional 598 million tonnes inferred at 30.3% iron. Further information about Alderon's resource estimate can be found in the April 5, 2011 and September 13, 2011 news releases. A total of 26,000m of infill and exploration drilling is being carried out in the 2011 Summer/Fall program. Based on the recently completed Preliminary Economic Assessment,Alderon plans to commence commercial production in 2015 at a rate of 8 million tonnes per year at a grade of 65.5% iron. The Preliminary Economic Assessment also illustrated robust project economics including an NPV of US$3.07 billion, an IRR of 40.2%, with a payback period of 2.7 years. 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.
September 6, 2011
Phone: 709-576-5607 Fax: 709-576-7541
Mailing Address: 2200 - 1250 Rene Levesque Blvd. W. Montreal, QC, H3B 4W8
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