ALDERON IRON ORE CORP

Ticker: AXXDF CUSIP: 01434T100 Class: COM

SCOTIA CAPITAL INC.'s Holding History (CIK: 0001335644)

Note: Option positions (PUT/CALL) are excluded.

Q3 2015

Shares 16,000 Value ($000) $2 Avg Close $0.16 Range $0.13 - $0.20

Q2 2015

Shares 16,000 Value ($000) $3 Avg Close $0.23 Range $0.20 - $0.28

Q1 2015

Shares 16,000 Value ($000) $4 Avg Close $0.27 Range $0.20 - $0.41

Q4 2014

Shares 13,000 Value ($000) $4 Avg Close $0.41 Range $0.22 - $0.74

Q3 2014

Shares 13,000 Value ($000) $10 Avg Close $1.09 Range $0.71 - $1.60

Q4 2013

Shares 33,800 Value ($000) $53 Avg Close $1.56 Range $1.37 - $1.85

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2015	16,000	$2	$0.16	$0.13 - $0.20
Q2 2015	16,000	$3	$0.23	$0.20 - $0.28
Q1 2015	16,000	$4	$0.27	$0.20 - $0.41
Q4 2014	13,000	$4	$0.41	$0.22 - $0.74
Q3 2014	13,000	$10	$1.09	$0.71 - $1.60
Q4 2013	33,800	$53	$1.56	$1.37 - $1.85