Alderon Announces Off-Take Transaction With Glencore

FOR: Alderon Iron Ore Corp. 
JULY 29, 2014 
Alderon Announces Off-Take Transaction With Glencore 
VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 29, 2014) - 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
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
Alderon Iron Ore Corp.
Vancouver Office
Alderon Iron Ore Corp.
Evelyn Cox
604-681-8030 ext 223 or 1-888-990-7989 
INDUSTRY:  Manufacturing and Production - Mining and Metals 
-0- Jul/29/2014 13:19 GMT
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