Alderon Iron Ore Corp. (AXXDF)

[LGL8054]

Alderon Appoints Additional Members to the Management Team

January 15th, 2013

Alderon Iron Ore Corp. (TSX: ADV) (NYSE MKT: AXX) (“Alderon”) is pleased to announce the appointment of Xinneng (David) Li as Vice President, Asia-Pacific Affairs and Ian Chadsey as Vice President Investor Relations, effective immediately. Mr. Li will be based out of Alderon’s Vancouver office and Mr. Chadsey out of the Montreal office.

Mr. Li has over 20 years of international project and financial management and corporate development experience. He worked as the CFO of Selwyn Chihong Mining Ltd., where he managed accounting, finance activities and fund raising for a large zinc and lead project in Canada. Previously, he was the Asia Finance Controller for a US based manufacturing company in China and Director of Strategic Planning for Trina Solar, a NYSE listed public company. He also held various managerial roles in Bunge Ltd., a NYSE listed public company and Cargill’s investment holding company in Beijing. Mr. Li holds an MBA from Thunderbird School of Global Management in Arizona, USA and a Ph.D. in engineering from Beijing University of Aeronautics and Astronautics in Beijing, China.

Mr. Chadsey brings over 15 years of progressive experience in investor relations, media and corporate affairs. In his new role, Mr. Chadsey will be responsible for developing and managing Alderon’s communication activities with the media and financial community. Prior to joining Alderon, he was the head of Investor Relations for several large Canadian Corporations such as Agrium and Manitoba Telecom and most recently has worked for Silver Standard Resources and Norse Energy. He received his MBA from the University of Ottawa, a Bachelors of Commerce degree from Concordia University and has a CMA designation.

“We are fortunate to be adding David and Ian to the team,” says Tayfun Eldem, President and CEO of Alderon. “They are joining us at a critical time as we transition Alderon toward commercial production and their expertise will be invaluable moving forward.”