January 19, 2010 – Alderon Resource Corp. (TSX-V: ALD) is pleased to announce that the following
four individuals will join the board of directors of Alderon on closing of the pending acquisition of a
private British Columbia company ("Privco"), by the issuance of 5 million post-consolidated common
shares of Alderon. 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, December 16, 2009 and January 15, 2010 News Releases.

Stan Bharti - Stan Bharti will bring over 25 years of business, management and financing experience to
Alderon. Over the last ten years Mr. Bharti has been involved in acquiring, restructuring, and financing
public companies. Mr. Bharti has raised over $2 Billion in public markets over the last five years. His
experience in public markets includes acquisitions of companies in Europe, Australia and North America.
He holds a Masters Degree in Engineering from Moscow, Russia and University of London, England. Mr.
Bharti will be appointed Executive Chairman of Alderon.

Bruce Humphrey - Bruce Humphrey is a mining engineer with over 30 years experience with such major
companies as Inco, Cominco and Noranda. He served as the President and Chief Executive Officer of
Desert Sun Mining Corp. from October 2004 to April 2006 where he contributed to the successful
development of the Jacobina Mine in Brazil. From May 1998 to May 2004, Mr. Humphrey served as
Senior Vice President and Chief Operating Officer at Goldcorp Inc. during the re-development of its highgrade
Red Lake mine. He is a member of the Professional Engineers of Ontario.

Brad Boland - Brad Boland is a Certified Management Accountant. He was the Chief Financial Officer
of Consolidated Thompson Iron Mines Limited until July 2009. From May 2005 to September 2007, he
was at Kinross Gold Corp., most recently serving in the position of Vice President, Corporate Controller.
Prior to that, from August 1998 to February 2005, Mr. Boland was at Goldcorp Inc., as Corporate
Controller and the Vice President, Finance.

Patrick Gleeson - Patrick Gleeson is a practicing corporate finance and securities lawyer. Prior to
establishing his own private public company services corp, he was a lawyer at a major Canadian law firm,
with a focus on mergers and acquisitions. He holds a J.D. and a M.A. from the University of Toronto, and
obtained a B.A. from Queen’s University.

At closing of the acquisition of Privco, which will include a 2 for 1 share consolidation, the board of
directors of Alderon will consist of Stan Bharti, Mark J. Morabito, Bruce Humphrey, Brad Boland, Jeff
Pontius and Patrick Gleeson. It is also intended that Mr. Morabito will be appointed President and CEO of
A/008214000/65235.1
Alderon. The acquisition and the recently announced $10,000,000 private placement remain subject to
regulatory approval.

 

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/Director

 

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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.