Alderon Expands Corporate Presence in Newfoundland & Labrador
21 Septembre 2011 - 3:00PM
Marketwired
One of Canada's leading iron ore development companies has expanded
its presence in Newfoundland & Labrador. Alderon Resource Corp.
("Alderon") (TSX VENTURE: ADV)(OTCQX: ALDFF) today announced the
opening of a corporate office in St. John's as it continues to
advance its iron ore project, the Kamistiatusset ("Kami") Property.
The 100% owned Kami project is located outside Wabush and
Labrador City in Western Labrador. Alderon has completed a
preliminary economic assessment and announced an iron resource
estimate.
"The timing is right to firmly establish Alderon's presence in
Newfoundland & Labrador given the positive results we have seen
in our preliminary economic assessment of the Kami project," said
Tayfun Eldem, President and CEO of Alderon. "This is an exciting
day for our company as we move into the next phase of
development."
"Our company looks forward to becoming part of the local
corporate community and increasing our on-the-ground presence in
Labrador," added Mark Morabito, Executive Chairman of Alderon. "We
have assembled an experienced team and are well positioned to move
the project through the development stage and into production. We
will continue our efforts to include all stakeholders and local
service providers as part of our development plan."
The company currently employs over 20 people in Labrador and is
scheduled to open an office in Labrador West this Fall. Further
exploration and geotechnical drilling will take place in the coming
months. The Kami Project is expected to begin construction in late
2013 and will be a flagship development with the potential to gain
global attention for the province's resource sector.
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About Alderon
Alderon is a leading iron ore development company in Canada with
offices in Vancouver, Toronto, Montreal and St. John's. 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.
ALDERON RESOURCE CORP.
On behalf of the Board
Mark J Morabito, Executive Chairman
Cautionary Note Regarding Forward-Looking Information
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. All statements, other than
statements of historical fact, included herein including, without
limitation; statements about future exploration of and drilling on
the Kami Project, timeline to production and the development of the
Kami Project are forward-looking statements. 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 need for additional financing; operational risks
associated with mineral exploration; the possibility that the
testwork may not be demonstrated on a larger scale; the need for
permits; 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
inability to conclude contracts for rail, port and power
infrastructure; disputes with First Nations groups; the absence of
dividends; competition; dilution; the volatility of our common
share price and volume and the additional risks identified in the
"Risk Factors" section of the Company's Annual Information Form for
the year ended December 31, 2010 other reports and filings with the
TSX Venture Exchange and applicable Canadian securities
regulations. Forward-looking statements are made based on
management's beliefs, estimates and opinions on the date that
statements are made and Alderon undertakes no obligation to update
forward-looking statements if these beliefs, estimates and opinions
or other circumstances should change, except as required by
applicable securities laws. Investors are cautioned against
attributing undue certainty to forward-looking statements.
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.
Contacts: Alderon Resource Corp. Vancouver Office 604-681-8030
604-681-8039 (FAX) Alderon Resource Corp. Toronto Office
416-309-2138 416-861-8165 (FAX) Alderon Resource Corp. Montreal
Office 514-989-3135 514-934-4640 (FAX) Alderon Resource Corp. St.
John's Office 709-576-5607 Alderon Resource Corp. Gary Norris
Executive Vice President - Government & Community Affairs Cell:
709-770-2985 gnorris@alderonmining.com Alderon Resource Corp.
Konstantine Tsakumis Investor Relations 1-866-683-8030
info@alderonmining.com www.alderonmining.com
Alderon Iron Ore Corp (TSXV:ADV)
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