Liberty Metals & Mining Holdings, LLC Acquires Warrants of Alderon Iron Ore Corp.

BOSTON, MASSACHUSETTS--(Marketwired - July 3, 2015) - Liberty Metals & Mining Holdings, LLC ("LMM") is pleased to announce that on June 30, 2015 it acquired 3,254,353 warrants (the "Warrants") to purchase common shares of Alderon Iron Ore Corp. ("Alderon") at a price of $0.2790 per common share, until December 31, 2018. The Warrants were acquired by LMM as consideration for its agreement to defer $915,200 payable due and payable to LMM on June 30, 2015 pursuant to the terms of the Loan Agreement (as defined herein).

Pursuant to the terms of a loan agreement (the "Loan Agreement") entered into among Alderon, The Kami Mine Limited Partnership and LMM in the amount of $22 million (the "LMM Loan"), interest is due and payable to LMM semi-annually on June 30 and December 31 of each year at a rate of 8% per annum. In December 2014, LMM agreed to defer the interest payments due on December 31, 2014 and June 30, 2015 and as consideration for doing so, Alderon agreed to issue to LMM, common share purchase warrants.

Immediately following the issuance of Warrants, LMM owned and controlled 18,797,454 common shares of Alderon. The common shares held by LMM represent 14.23% of the outstanding common shares of Alderon and 16.29% of the issued and outstanding shares of Alderon assuming the exercise of the Warrants.

As of the close of business on June 30, 2015 LMM owned and controlled 18,797,454 common shares of Alderon and options and warrants to acquire an additional 5,541,436 common shares of Alderon. The common shares held by LMM represent 14.23% of the outstanding common shares of Alderon and 17.67% of the issued and outstanding shares of Alderon assuming the exercise of the options and warrants.

LMM acquired the Warrants for investment purposes. Depending on market conditions and other factors, LMM may from time to time acquire additional securities of Alderon or dispose of securities of Alderon in the open market, by private agreement or otherwise.

For further information and to obtain a copy of the early warning report filed under applicable Canadian securities laws in connection with the transaction hereunder, please see Alderon's profile on SEDAR at www.sedar.com.