Alderon Iron Ore Corp. (AXXDF)

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Alderon Confirms Iron at North Rose With 31% Iron Over 204 Meters

Alderon Resource Corp. (TSX VENTURE: ADV)(OTCQX: ALDFF) ("Alderon") is pleased to announce assay results from the current 2011 winter program on the 100% owned Kamistiatusset ("Kami") Iron Ore Project in western Labrador. These results are from North Rose and are all outside of the currently defined National Instrument ("NI") 43-101 resource estimate. Highlights include:

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Drill From To Length Total
Hole (meters) (meters) (meters) Iron %
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K-11-99 38.5 168.0 129.5 33.0
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K-11-101 46.5 140.8 94.3 33.0
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K-11-102 110.3 296.0 185.7 30.3
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K-11-104 92.0 296.0 204.0 30.6
including 176.0 296.0 120.0 33.4
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K-11-106 46.0 142.0 96.0 34.4
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The North Rose Zone is located northwest of Rose Central, which has a currently defined NI 43-101 indicated resource of 376.1 million tonnes at 29.8% iron and an additional inferred resource of 46.0 million tonnes at 29.8% iron (refer to News Release dated April 5, 2011 for further details). This new North Rose Zone will be part of the updated NI 43-101 resource estimate expected in Q3 2011. The goal for the updated resource is to delineate 800 million to 1 billion tonnes at a grade between 28-32% iron ore. The potential increase in tonnage and the grade are conceptual in nature, there has been insufficient exploration to define a larger mineral resource and it is uncertain if further exploration will delineate a larger mineral resource. These updated resource figures are reported as exploration targets based on the presence of step-out mineralized drill holes, known mineralized zones open along strike and geophysically anomalous areas from data received by Alderon.

"It's exciting to see a new zone yield similar results as those from our 2010 drill program," says Mark Morabito, President and CEO of Alderon. "We are looking forward to having North Rose included into the resource update later this year."

Complete assay highlights with drill plan maps and sections are posted on the Alderon website at: http://www.alderonmining.com/projects/kami/

True widths of the reported intercepts above vary depending on the angle of the individual drill holes and are estimated to be between 45% and 75% of the core interval as reported. All samples were prepared from sawn NQ-sized half-core sections on site in Labrador. Split drill core samples are then sent to SGS Mineral Services in Lakefield, Ontario for analyses. Total iron analysis is performed using X-ray fluorescence (XRF) and the magnetic component is determined by Satmagan magnetic analysis. Standards, blanks, and duplicate assays are included at regular intervals in each sample batch submitted from the field as part of an ongoing Quality Assurance/Quality Control program.

About Alderon

Alderon is a leading iron ore exploration and development company in Canada. The 100% owned Kami Project is located within an existing iron ore district and is surrounded by producing iron ore mines. The Alderon team is comprised of skilled professionals with significant iron ore expertise to advance Kami towards production.

Alderon's exploration work on the Kami Property is supervised by Edward Lyons, P.Geo., the Chief Geologist for Alderon and a Qualified Person as defined by NI 43-101. Mr. Lyons has reviewed and is responsible for the technical information contained in this news release. Mr. Lyons has verified the data disclosed in this news release, including sampling, analytical and test data underlying the information disclosed in this news release. Mr. Lyons has verified that the results were accurate from the official assay certificates provided to Alderon.

For more information on Alderon, please visit our website at www.alderonmining.com.

ALDERON RESOURCE CORP.

On behalf of the Board

Mark J. Morabito, President & CEO

Contacts:

Alderon Resource Corp. - Vancouver Office

Mark J. Morabito

President & CEO

604-681-8030

604-681-8039 (FAX)



Alderon Resource Corp. - Toronto Office

416-309-2135

416-861-5887 (FAX)

[e-mail]

www.alderonmining.com