Alderon Iron Ore Corp. (AXXDF)

[LGL8054]

Alderon Appoints Former Newfoundland and Labrador Premier Danny Williams and Bay Street Lawyer John Vettese to the Board of D...


Today : Wednesday 28 March 2012
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Alderon Iron Ore Corp. (TSX:ADV)(NYSE Amex:AXX) ("Alderon") is pleased to announce the appointment of Mr. Danny Williams, QC, former Premier of Newfoundland and Labrador and Mr. John Vettese, LLB to the Board of Directors of Alderon, effective March 28, 2012.

Mr. Williams served as the Premier of Newfoundland and Labrador from October 2003 until November 2010, retiring from the position at a time when his government had an approval rating of over 80%. In addition to his distinguished public service career, Mr. Williams has also been deeply involved in private sector business development in the province. From 1975, he guided Cable Atlantic through acquisitions of systems in Gander, Grand Falls-Windsor, Corner Brook, Port aux Basques and other centers, to become one of the largest communications companies in Atlantic Canada. He has also been involved in Newfoundland and Labrador's oil and gas industry as president of offshore oil and gas supply and services company OIS Fisher (later Spectrol), and in the hospitality and tourism industry through the operation of three golf courses and one hotel resort.

Mr. Williams studied political science and economics at Memorial University of Newfoundland. Awarded the Rhodes Scholarship in 1969, he received a degree in Arts in Law from Oxford University in England, and returned to Canada to earn a Bachelor of Law degree from Dalhousie University in Halifax. He practiced law in Newfoundland and Labrador beginning in 1972 and was appointed Queen's Counsel in 1984. In 2011, he received a Honourary Doctorate from the University of PEI.

Mr. Vettese is a corporate finance and M&A lawyer and is the Deputy Managing Partner of Cassels Brock & Blackwell LLP. He is also a member of the firm's Executive Committee. He has acted and continues to act as lead counsel for several companies in the mining sector. Mr. Vettese had previously acted as lead counsel to Consolidated Thompson Iron Mines Ltd. He has consistently been recognized as one of the Best Lawyers in Canada in the area of Natural Resource Law.

"I am extremely pleased to be adding two individuals with Danny and John's expertise to the Board at such a critical time in Alderon's development," says Mark Morabito, Executive Chairman of Alderon. "These gentlemen will be incredible resources for Alderon as we continue to move our Kami project towards production."

Stepping aside from the Board at this time will be Mr. Brad Boland. Mr. Boland was one of Alderon's founding directors and has made valuable contributions to Alderon's development since inception. The Board of Directors would like to thank Mr. Boland for his exemplary service over the past two and half years.

About Alderon

Alderon is a leading Canadian iron ore development company with offices in Vancouver, Toronto, Montreal and St. John's. The 100% owned Kami Project is located within Canada's premier iron ore district and is surrounded by four producing iron ore mines. The Alderon team is comprised of skilled professionals with significant iron ore expertise to advance Kami towards production.

ALDERON IRON ORE COR