Alderon Iron Ore Corporation has announced the results of the final mineral resource estimate on its Kamistiatusset Iron Ore Project in western Labrador. The estimate includes a Measured and Indicated mineral resource of 1.1 billion tonnes at 29.8% iron and an Inferred mineral resource of 277.4 million tonnes at 29.5% iron (refer to tables below for tonnage and grade details) based on a cut off grade of 20% iron.

Mr Tayfun Eldem president & CEO of Alderon said that "We are extremely pleased with this final resource estimate for Kami. The completion of each successive drill program has resulted in an increase in the mineral resource estimate, while continuing to confirm consistent grades. The final numbers clearly underline the potential and the value of the Kami Project. The Measured and Indicated mineral resources will form the basis for Kami's Feasibility Study that is expected to be completed before the end of 2012."

The mineral resource estimate for the Kami Project is based on results from 209 diamond drill holes at Rose Central and North Rose (170 holes) and Mills Lake (39 holes) zones totaling 62,247 m and is effective as of July 11th 2012. Watts, Griffis and McOuat Limited, Consulting Geologists and Engineers of Toronto, Canada, was retained to audit an in house estimate completed by Alderon.

Source - Alderon Iron Ore Corporation

(www.steelguru.com)