March 1, 2010 - Alderon Resource Corp. (the “Company”) - (TSX-V: ALD) is pleased to announce
that it has filed a comprehensive Filing Statement, dated February 26, 2010, detailing the proposed
acquisition of 0860132 B.C. Ltd. a private BC company ("Privco"), by the issuance of 5 million postconsolidated
shares of the Company. The Filing Statement is now available under the Company’s profile
on SEDAR. The Company will be completing a 2 for 1 share consolidation contemporaneous with the
completion of the acquisition.

The Company and Privco are parties to an Option Agreement dated November 2, 2009 with Altius
Resources Inc. ("Altius") pursuant to which the Company 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). Other terms of the Option Agreement are described in the Company's
December 2, 2009, December 16, 2009, January 15, 2010 and February 16, 2010 News Releases.

Pursuant to the applicable regulatory requirements, the Company has also filed a NI 43-101 Technical
Report on the Kamistiatusset Property, Newfoundland and Labradour for 0860132 B.C. Ltd. and Alderon
Resource Corp, dated February 12, 2010. The technical report was completed by Watts, Griffis and
McOuat, Limited and is available under the Company’s profile on SEDAR at www.sedar.com.

The completion of the acquisition remains subject to final approval from the TSX Venture Exchange
following satisfaction of certain outstanding conditions to closing, including the obtaining of shareholder
approval by the Company. Closing is anticipated in early March, 2010.

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR RELEASE TO U.S.
NEWSWIRE SERVICES

We seek Safe Harbor.

ALDERON RESOURCE CORP.
On behalf of the Board

"Jeff Durno"
Jeff Durno, CEO/President/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 forward-looking statements.

For more information about Alderon Resource Corp. please contact:
Mark Morabito, Director at (604) 681-8030