December 16, 2009 – Alderon Resource Corp. (TSX-V: ALD) ("Alderon"). Further to the Letter of
Intent announced by the Company on December 2, 2009, Alderon is pleased to announce that it has now
entered into a definitive agreement to acquire all of the outstanding shares of a private British Columbia
company ("Privco") by the issuance of five million post-consolidated common shares of Alderon (the
"Acquisition"). Conditions to the completion of the Acquisition include Alderon completing a two for one
share consolidation and Alderon successfully completing a private placement to raise gross proceeds of
$1,500,000.

Privco is party to an Option Agreement dated November 2, 2009 with Altius Resources Inc. ("Altius")
pursuant to which Privco has the right to acquire a 100% interest in the Kamistiatusset iron ore project in
western Labrador. Altius is a wholly owned subsidiary of Altius Minerals Corporation (TSX-ALS).
Pursuant to the terms of the Agreement, Altius has consented to the assignment of the Option Agreement
to Alderon. Other terms of the Option Agreement are described in the Company's December 2, 2009 news
release.

A 43-101 report on the Kamistiatusset property is expected to be completed and filed with the TSX
Venture Exchange (the "Exchange") for review in connection with the proposed transaction later in
December. Further information on the Kamistiatusset property and future exploration programs will be
announced once the 43-101 has received regulatory approval and has been filed on SEDAR.

Completion of the transaction is subject to a number of conditions, including Exchange acceptance and
shareholder approval. The transaction cannot close until the required shareholder approval is obtained.
There can be no assurance that the transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the Filing Statement to be prepared in connection with
the transaction, any information released or received with respect to the transaction may not be accurate
or complete and should not be relied upon. Trading in the securities of Alderon Resource Corp. should be
considered highly speculative. Trading will remain halted pending further regulatory filings with the
Exchange.

The Company also announces that following execution of the definitive agreement, Mark Morabito, the
President of Privco, has just joined its Board of Directors. Mr. Morabito is the founder and CEO of
Crosshair Exploration & Mining Corp., having raised over $53M for Crosshair since 2003. Prior to
founding Crosshair, Mr. Morabito practiced corporate securities and finance law and has over 15 years
experience in public markets, with a focus on capital-raising and corporate development in the junior
mining sector. He has a B.A. from Simon Fraser and a J.D. from the Faculty of Law, University of
Western Ontario. He is a member of the bar in British Columbia and Ontario.

ALDERON RESOURCE CORP.
On behalf of the Board

"Jeff Durno"
Jeff Durno, CEO/Director

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This new release may contain forward-looking statements. These statements are based on current
expectations and assumptions that are subject to risks and uncertainties. Actual results could differ
materially because of factors discussed in the management discussion and analysis section of our interim
and most recent annual financial statement or other reports and filings with the TSX Venture Exchange
and applicable Canadian securities regulations. We do not assume any obligation to update any forwardlooking
statements.