Alderon Iron Ore Corp. announced rejoining of Mr. Tayfun Eldem as the President & Chief Executive Officer and Director of Alderon effective as of February 5, 2018, at which time Mr. Mark J. Morabito will assume the role of Non-Executive Chairman. Mr. Eldem was President and CEO of Alderon from September 2011 to August 2015, and was instrumental in further developing the Kami Project.

Mr. Eldem has 29 years of experience in the mining industry and has previously worked for the Iron Ore Company of Canada for more than 20 years. During this period, Mr. Eldem held many senior roles including Chief Operating Officer, Vice President, Expansion Projects & Engineering, and General Manager of Processing Operations. As COO Mr. Eldem was accountable for all of IOC's operations from the mine through the processing plants to rail and port and oversaw the development and delivery of a nearly $2.0 billion program of green and brown fields expansion projects.

Consistent with the strategic plan to fast track the Kami Project, Mark Morabito, Alderon's founder and current Chairman and CEO, will transition with Mr. Eldem and continue to be involved with Alderon as Non-Executive Chairman of its Board of Directors. Mr. Morabito will focus on Alderon's capital market program and strategic initiatives.