Alderon’s Kami Project Will Generate Economic Impacts Canada Wide, Including an Estimated $7.6 Billion in Incomes to Workers and Businesses and $4.4 Billion in Federal and Provincial Government Revenues

April 5, 2017

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VANCOUVER, BC–(Marketwired – April 05, 2017) – Alderon Iron Ore Corp. (TSX: IRON) (“Alderon” or the “Company“) today released an independent Economic Impact Assessment (“EIA”) of the Kamistiatusset (“Kami”) Iron Ore Project that indicates significant economic benefits and positive implications for the economies of Newfoundland and Labrador, Quebec and Canada. The Kami Project, which is located in the Labrador Trough, Canada’s premier iron ore district, is expected to create more than 100,000 direct, indirect and induced jobs as well as generate $7.6 billion in incomes to workers and businesses, $4.4 billion in total revenue for federal and provincial treasuries and $19.5 billion in GDP over a 26-year period, which includes two years of construction activities. All dollar estimates are denoted in Canadian currency unless otherwise stated.

Category: General