Alderon Confirms No Impact as a Result of CN's Plan to Cancel Feasibility Study For a New Rail Service in Northern Quebec

Alderon Confirms No Impact as a Result of CN's Plan to Cancel Feasibility Study 
For a New Rail Service in Northern Quebec 
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/12/13 -- Alderon
Iron Ore Corp. (TSX:ADV)(NYSE MKT:AXX) ("Alderon") is not reliant on
the proposed CN rail service in the Labrador Trough and CN's decision
to terminate the feasibility study for an integrated multi-user rail
and terminal does not affect the scheduling or the time-lines of the
Kami Project. One of the greatest advantages of Alderon's Kami
Project is its proximity to the existing common carrier rail line
owned and operated by the Quebec North Shore and Labrador Railway
("QNS&L"). Alderon's feasibility study capital and operating cost
projections are based on using the QNS&L Railway which has been the
central case rail solution for our Kami Project since its inception. 
"The QNS&L Railway is a common carrier that operates with the legal
obligation to accommodate third-party traffic. It currently has ample
surplus capacity and runs within 15 km of the Kami Property," says
Tayfun Eldem, President and CEO of Alderon. "Alderon will continue
its rail tariff discussions with QNS&L." 
CN announced today that its feasibility study for a new rail line in
Northern Quebec is terminated amid anticipated delays in mine
development projects in and around the Labrador Trough. The proposed
rail line and terminal handling facility were to serve the
Quebec/Labrador iron ore corridor.  
Alderon has always viewed CN's integrated rail and terminal
development project as a potentially high value alternative option
and as a result signed on to participate in CN's feasibility study.
Now that the feasibility study is canceled, under Alderon's agreement
with CN, they are obligated to refund the $1.5 million Alderon
contributed to the study last year. 
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
For more information on Alderon, please visit our website at 
On behalf of the Board 
Mark J. Morabito, Executive Chairman 
Cautionary Note Regarding Forward-Looking Information 
This press release contains "forward-looking information" concerning
anticipated developments and events that may occur in the future.
Forward looking information contained in this press release include,
but are not limited to, statements with respect to Alderon's access
to the Quebec North Shore and Labrador Railway. 
In certain cases, forward-looking information can be identified by
the use of words such as "plans", "expects" or "does not expect", "is
expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate", or "believes", or
variations of such words and phrases or state that certain actions,
events or results "may", "could", "would", "might" or "will be
taken", "occur" or "be achieved" suggesting future outcomes, or other
expectations, beliefs, plans, objectives, assumptions, intentions or
statements about future events or performance. Forward-looking
information contained in this press release is based on certain
factors and assumptions regarding, among other things, the estimation
of mineral reserves and resources, the realization of resource
estimates, iron ore and other metal prices, the timing and amount of
future exploration and development expenditures, the estimation of
initial and sustaining capital requirements, the estimation of labour
and operating costs, the availability of necessary financing and
materials to continue to explore and develop the Kami Property (as
defined herein) in the short and long-term, the progress of
exploration and development activities, the receipt of necessary
regulatory approvals, the completion of the environmental assessment
process, the estimation of insurance coverage, and assumptions with
respect to currency fluctuations, environmental risks, title disputes
or claims, and other similar matters. While the Company considers
these assumptions to be reasonable based on information currently
available to it, they may prove to be incorrect. 
Forward looking information involves known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially different
from any future results, performance or achievements expressed or
implied by the forward-looking information. Such factors include
risks inherent in the exploration and development of mineral
deposits, including risks relating to changes in project parameters
as plans continue to be redefined including the possibility that
mining operations may not commence at the Kami Property, risks
relating to variations in mineral resources, grade or recovery rates
resulting from current exploration and development activities, risks
relating to the ability to access rail transportation, sources of
power and port facilities, risks relating to changes in iron ore
prices and the worldwide demand for and supply of iron ore and
related products, risks related to increased competition in the
market for iron ore and related products and in the mining industry
generally, risks related to current global financial conditions,
uncertainties inherent in the estimation of mineral resources, access
and supply risks, reliance on key personnel, operational risks
inherent in the conduct of mining activities, including the risk of
accidents, labour disputes, increases in capital and operating costs
and the risk of delays or increased costs that might be encountered
during the development process, regulatory risks, including risks
relating to the acquisition of the necessary licences and permits,
financing, capitalization and liquidity risks, including the risk
that the financing necessary to fund the exploration and development
activities at the Kami Property may not be available on satisfactory
terms, or at all, risks related to disputes concerning property
titles and interest, environmental risks, and the additional risks
identified in the "Risk Factors" section of the Company's Annual
Information Form for the most recently completed financial year or
other reports and filings with applicable Canadian securities
regulators. Accordingly, readers should not place undue reliance on
forward-looking information. The forward-looking information is made
as of the date of this press release. Except as required by
applicable securities laws, the Company does not undertake any
obligation to publicly update or revise any forward-looking
Alderon Iron Ore Corp.
Montreal Office
514-281-5048 (FAX) 
Alderon Iron Ore Corp.
Vancouver Office
604-681-8039 (FAX) 
Alderon Iron Ore Corp.
Ian Chadsey
Investor Relations
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