Alderon Resource Corp. (TSX.V: ADV) (OTCQX: ALDFF) (“Alderon”) is pleased to announce the appointment of Mr. Brian Dalton, Mr. John Baker and Mr. David Porter to the Board of Directors of Alderon, effective immediately.
In connection with the Alderon News Release dated December 8, 2010, Mr. Dalton, the President & CEO of Altius Minerals Corporation (“Altius”) (TSX: ALS) and Mr. Baker, the Chairman of Altius, have joined the Alderon Board of Directors. Alderon recently acquired its 100% interest in the Kamistiatusset (“Kami”) iron ore project from Altius, in exchange for which Altius has now become a substantial shareholder of Alderon and the holder of a royalty interest over the Kami project. Mr. Porter is an executive with over 33 years experience who was most recently the Vice President Administration for the Iron Ore Company of Canada, a member of the Rio Tinto group.
Mr. Dalton co-founded a number of successful private mineral exploration and exploration service companies prior to co-founding Altius in 1997. Since 1997 he has served as the President and CEO of Altius, during which time it has achieved strong growth and is now a member of the TSX SmallCap Index. He is a member of the Board of Regents of Memorial University and has been a volunteer for various charitable fundraising campaigns in Newfoundland and Labrador.
Mr. Baker is the senior partner and chairman of a leading Newfoundland and Labrador law firm and carries on an extensive mining, securities, and corporate/commercial practice. His history of public company, community and volunteer directorships is considerable. Mr. Baker’s volunteer contributions have been recognized with the Queen’s Golden Jubilee Medal, the Canadian Bar Association Award for Distinguished Public Service and a Paul Harris Fellowship by Rotary International. He was recently named “St. John’s Corporate Lawyer of the Year” by the respected peer review publication Best Lawyers®.
Mr. Porter, MBA is a seasoned executive who has served as Vice President Human Resources & Organizational Effectiveness for the Iron Ore Company of Canada, a C$2Billion Canadian based Corporation. He has also been responsible for Operations, Safety, Health, Sustainable Development, Communications and Community Relations across the mining and steel sectors for over 33 years. Mr. Porter has lead the development and execution of business strategy, negotiated landmark agreements with international unions, governments and communities and lead business transformation initiatives.
Stepping aside to make room for the above appointments will be Mr. Pat Gleeson and Mr. Jeff Pontius. The Board of Directors would like to thank Mr. Gleeson and Mr. Pontius for their exemplary service over the last year.
Alderon is a leading iron ore exploration and development company in Canada. The Kami Project is located within an existing iron ore district and is surrounded by 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.alderonmining.com
ON BEHALF OF THE ALDERON BOARD
"Mark J. Morabito"
President & CEO
Vancouver Office Toronto Office
T: 604-681-8030 T: 416-309-2135
F: 604-681-8039 F: 416-861-5887
Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the risks associated with outstanding litigation, if any; risks associated with project development; the need for additional financing; operational risks associated with mining and mineral processing; fluctuations in commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the potential for conflicts of interest among certain officers, directors or promoters with certain other projects; the absence of dividends; competition; dilution; the volatility of our common share price and volume; and tax consequences to U.S. shareholders. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable law. Investors are cautioned against attributing undue certainty to forward-looking statements.
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