Alderon Iron Ore Corp. (AXXDF)

[LGL8054]

Alderon Appoints Mining Industry Finance & Accounting Professional to its Board

February 21, 2013

Alderon Iron Ore Corp. (TSX: ADV) (NYSE MKT: AXX) (“Alderon”) is pleased to announce that it has appointed Mr. Lenard Boggio, B.A., B.Comm., FCA, CPA (Illinois), ICD.D, to the Board of Directors. Mr. Boggio was a Partner with PricewaterhouseCoopers LLP (“PwC”) and its predecessor firm Coopers & Lybrand from 1988 until his retirement from PwC in May 2012. During that time, he was Leader of the B.C. Mining Group of PwC, a senior member of PwC’s Global Mining Industry Practice and an audit practitioner for publicly listed Canadian, U.S. and U.K. mineral resource and energy clients. The scope of his clients' activities included exploration, development and production stage operations in the Americas, Africa, Europe and Asia.

Mr. Boggio holds a Bachelor of Arts and Bachelor of Commerce from the University of Windsor, Ontario, he has been a member of the Institute of Chartered Accountants of British Columbia since 1985 and was awarded the Fellow Chartered Accountant designation for distinguished service to the accounting profession and the community in 2007. Mr. Boggio earned his CPA designation in Illinois in 1999 and is a Member of the State Boards of Accountancy in Illinois and Washington State. He has also been a Member of the Institute of Corporate Directors since 2010, earning his ICD.D designation in 2012.

His numerous avenues of professional involvement include roles as a Board Member and Vice-Chair of the Canadian Institute of Chartered Accountants, Commissioner of the Financial Institutions Commission of B.C., a Member of the Ontario Securities Commission's Continuous Disclosure Advisory Committee and a member of the Institute of Chartered Accountants of B.C. Technical Forum that advised the B.C. Securities Commission and TSX Venture Exchange on policy and interpretation issues.

Stepping aside from the Alderon Board to allow for the appointment of Mr. Boggio is Mr. Bruce Humphrey. Mr. Humphrey was one of Alderon’s founding directors and he has been instrumental in its development. The Board would like to acknowledge and thank Mr. Humphrey for his significant contributions to the Company’s development to date.

About Alderon

Alderon is a leading iron ore development company in Canada with offices in Vancouver, Toronto, Montreal, Labrador City 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.

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

ALDERON IRON ORE CORP.
On behalf of the Board

"Mark J. Morabito"
Executive Chairman

E: [e-mail]
www.alderonironore.com

For Investor Relations, please call:
Ian Chadsey
888-990-7989