Alderon Announces Off-Take Transaction With Glencore

Alderon Announces Off-Take Transaction With Glencore 
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 07/29/14 --   Alderon
Iron Ore Corp. (TSX: ADV)(NYSE MKT: AXX) ("Alderon" or the "Company")
is pleased to announce that The Kami Mine Limited Partnership ("Kami
LP"), an affiliate of Alderon, has entered into an off-take agreement
(the "Off-Take Agreement") with a subsidiary of Glencore plc
("Glencore"), with respect to an off-take transaction pursuant to
which Glencore will acquire all of actual annual production from the
Kami Project that has not been allocated to Hebei Iron & Steel Group
Co., Ltd. 
Under the terms of the Off-Take Agreement, Glencore will be obligated
to purchase, upon the commencement of commercial production, 40% of
the actual annual production from the Kami Project up to a maximum of
3.2 million tonnes of the first 8.0 million tonnes of iron ore
concentrate produced annually at the Kami Project. The term of the
Off-Take Agreement will continue until Kami LP has delivered 48.0
million tonnes of iron ore concentrate to Glencore, which is expected
to be 15 years after the commencement of commercial production. 
"We are extremely pleased to have entered into the Off-Take Agreement
with Glencore," says Mark J. Morabito, Alderon's Executive Chairman.
"Glencore is one of the world's largest natural resource trading
companies and in Alderon's view, this commitment demonstrates the
quality of the Kami Project and its management team." 
"With 100% of the initial production from the Kami Project now
committed, we believe this enhances Alderon's ability to obtain the
requisite financing required to commence construction of the Kami
Project," says Tayfun Eldem, Alderon's President & CEO. "The offtake
arrangement with Glencore gives Kami concentrates global exposure and
the multi-year agreement serves as another significant de- risking
milestone for the Kami Project." 
The market price paid by Glencore will be based on the monthly
average price for iron ore sinter feed fines quoted by Platts Iron
Ore Index for 62% iron content (plus additional quoted premium for
iron content greater than 62%), less a discount equal to 2% of such
quoted price. 
About Glencore 
Glencore is one of the world's largest global diversified natural
resource companies and is one of the biggest companies within the
FTSE 100 Index. Glencore's industrial and marketing activities are
supported by a global network of more than 90 offices located in over
50 countries. Its diversified operations comprise of over 150 mining
and metallurgical sites, offshore oil production assets, farms and
agricultural facilities. 
The Metals and Minerals division is focused on iron ore, copper,
nickel, zinc/lead, alloys, and alumina/aluminum, with interests in
both controlled and non-controlled industrial assets that include
mining, smelting, refining and warehousing operations. 
About Alderon 
Alderon is a leading iron ore development company in Canada with
offices in Montreal, Vancouver, St. John's and Labrador City. The
Kami Project, owned 75% by Alderon and 25% by Hebei Iron & Steel
Group Co. Ltd. ("HBIS") through The Kami Mine Limited Partnership, is
located within Canada's premier iron ore district and is surrounded
by four producing iron ore mines. Its port handling facilities are
located in Sept-Iles, the leading iron ore port in North America. The
Alderon team is comprised of skilled professionals with significant
iron ore expertise to advance Kami towards production. HBIS is
Alderon's strategic partner in the development of the Kami Project
and China's largest steel producer. 
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" within the
meaning of the U.S. Private Securities Litigation Reform Act and
Canadian securities laws 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 (i) the development of the Kami Project;
and (ii) the details of the Off-take Agreement. 
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, receipt of
governmental and other approvals, the estimation of mineral reserves
and resources, the realization of reserve and 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 Project in the
short and long-term, the progress of exploration and development
activities, the receipt of necessary regulatory approvals, 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 Project, 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 Project may not be available on satisfactory
terms, or at all, risks related to disputes concerning property
titles and interest, risks related to disputes with Aboriginal
groups, 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, which is included in
its Annual Report on Form 40-F filed with the U.S. Securities and
Exchange Commission (the "SEC") or other reports and filings with
applicable Canadian securities regulators and the SEC. 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 information. 
Alderon Iron Ore Corp.
Montreal Office
514-281-5048 (FAX) 
Alderon Iron Ore Corp.
Vancouver Office
604-681-8039 (FAX) 
Alderon Iron Ore Corp.
Evelyn Cox
604-681-8030 ext 223 or 1-888-990-7989
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