Alderon Clarifies March 9, 2011 Trading Activity
09 Marzo 2011 - 2:59PM
Marketwired
Alderon Resource Corp. (TSX VENTURE: ADV)(OTCQX: ALDFF) ("Alderon")
announces that the Investment Industry Regulatory Organization of
Canada ("IIROC"), the regulation services provider of the TSX
Venture Exchange, halted trading in Alderon's shares at 11:59 a.m.
on March 9, 2011. IIROC ruled that all trades in the common shares
of Alderon that took place prior to 11:59 a.m. on March 9, 2011 at
prices below CAD$2.80 per share will be re-priced to CAD $2.80 per
share. The ruling is being made by IIROC on the basis that the
trades were unreasonable. IIROC issued a trade resumption notice
and trading in Alderon's shares resumed at 1:30 p.m. on March 9,
2011 at a price of CAD$3.50 per share.
All operations are running normally on the winter drill program
at the Kamistiatusset ("Kami") Iron Ore Project in western
Labrador, with three drills in operation, as announced on February
3, 2011. Alderon is on target to meet all previously announced
timetables and commitments, including the delivery of an initial
National Instrument 43-101 ("NI 43-101") resource estimate for the
Rose Central and Mills Zones in March 2011 and an updated NI 43-101
resource estimate in June 2011 (see February 3, 2011 news release
for further details).
About Alderon
Alderon is a leading iron ore exploration and development
company in Canada. The Kami Project is located within an existing
iron ore district and is surrounded by producing iron ore mines.
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, President & CEO
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 the timing for delivery of resource
estimates 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;
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 absence of
dividends; competition; dilution; the volatility of our common
share price and volume and the additional risks identified the
management discussion and analysis section of our interim and most
recent annual financial statement or 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 Mark J.
Morabito President & CEO 604-681-8030 604-681-8039 (FAX)
Alderon Resource Corp. - Toronto Office 416-309-2135 416-861-5887
(FAX) info@alderonmining.com www.alderonmining.com
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