Ridgemont Iron Ore Corp.
TSX VENTURE : RDG

November 24, 2010 16:06 ET

Ridgemont Iron Ore Corp. Announces the Appointments of a Director and a Vice President, Operations, and Grant of Incentive Stock Options

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 24, 2010) -

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Ridgemont Iron Ore Corp. (formerly Ridgemont Capital Corp.) (TSX VENTURE:RDG) ("Ridgemont" or the "Company") is pleased to announce the appointment of Matt Simpson as a Director of Ridgemont, effective immediately. Mr. Simpson is the Chief Operating Officer of Alderon Resource Corp. ("Alderon"). Prior to joining Alderon in September, 2010, Mr. Simpson spent eight years working for the Iron Ore Company of Canada ("IOC"), a RioTinto subsidiary, most recently as Mine General Manager. He holds a MBA as well as a B.Sc. in Chemical Engineering both from Queen's University. 

Ridgemont is also pleased to announce the appointment of Kenneth Brophy as Vice President, Operations of Ridgemont, effective immediately. Mr. Brophy has over 15 years of logistics and operations experience with various companies including Crosshair, Exploration & Mining Corp., Committee Bay Resources and Meridian Geoscience Ltd. Most recently, while contracting to Nalcor Energy, Mr. Brophy maintained the role of Consultation Lead for the Lower Churchill Project, while working with the Environment and Aboriginal Affairs team. Prior to joining Nalcor Energy, Mr. Brophy was a Director of Operations for Crosshair Exploration and Mining Corp.

Ridgemont announces that it has, effective November 23, 2010, granted incentive stock options to purchase a total of 550,000 common shares of Ridgemont at an exercise price of $0.16 per share to certain executive officers, employees and consultants of Ridgemont The options vest in equal quarterly instalments of a period of 24 months and have a term of five years.

RIDGEMONT IRON ORE CORP.

On behalf of the Board

Mark J. Morabito, President & CEO

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.

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