Yalian Steel Announces Results of 2012 Annual General Meeting and Board Appointments and Appoints Helen Lu as Chief Financial...

Yalian Steel Corporation (TSX VENTURE:YL) ("Yalian" or the "Company") is pleased
to announce the results of its Annual General Meeting of Shareholders held on
February 17, 2012 in Vancouver, British Columbia (the "Meeting").


The shareholders of the Company have resolved to elect five directors for the
coming year, as follows: Xin Duo Yu, Joanne Yan, Jack Austin, Xia Xu and Mao
Sun, with Ms. Xu and Mr. Sun being the two newly elected directors.


Mr. Sun is a Chartered Accountant with many years of experience in public
practice. He is a partner of SunRonkai LLP and was an audit manager at a major
international accounting firm where he worked from 2004 to 2008. Mr. Sun has
worked with clients from various industries and has extensive knowledge of
Canadian accounting standards and a strong understanding of Canadian corporate
taxes. He graduated with a Master's degree from Columbia University in New York
City and a Bachelor's degree from Nanjing University, China. 


Ms. Xu has over ten years of experience working with China-based Canadian public
companies, responsible for business planning, operations, corporate
administration and management. Prior to joining the Company, Ms. Xu spent
several years at Hanfeng Evergreen Inc., a TSX listed company with operations in
China, as its Chief Administrative Officer. Ms. Xu joined Yalian at its
incorporation, as the Vice President, Operations since December 2008. She was
named Acting Chief Executive Officer of the Company in May 2010.


Also approved at the Meeting was the re-appointment of KPMG LLP as auditor of
the Company for the ensuing year. In accordance with TSX Venture Exchange
policies, the Company's incentive stock option plan was approved and ratified
for the ensuing year.


At a meeting of the board of directors held subsequent to the Meeting, Ms. Xu
was re-appointed as Acting Chief Executive Officer of Yalian. As previously
announced, Ms. Xu has assumed the additional roles of Acting Chief Financial
Officer and Interim Corporate Secretary. The Company is also pleased to announce
that Helen Lu has been appointed Chief Financial Officer and Corporate
Secretary. She will replace Ms. Xu in both roles effective as of February 27,
2012.


Ms. Lu has many years of experience in both public practice and banking
industry. She has been an audit manager of a big four accounting firm since
2008. Ms. Lu was the head of the internal control department of a leading global
bank in China prior to her involvement in public practice. Ms. Lu is a Chartered
Accountant, Certified Public Accountant (USA) and Chartered Financial Analyst.
Ms. Lu has a MBA from the University of British Columbia. 


Mr. Yu, Chairman of the board of directors stated, "We are very pleased to
appoint Helen as Chief Financial Officer and Corporate Secretary. We look
forward to her coming aboard. I again thank Xia for her important roles in
Yalian's management and her continuing leadership as Acting Chief Executive
Officer."


Ms. Yan and Messrs. Austin and Sun were appointed members of the Audit Committee
for the ensuing year, of which Mr. Sun is Chair. The board of directors also
appointed Ms. Yan and Messrs. Austin (Chair) and Yu to the Compensation &
Corporate Governance Committee.


Management would like to thank Mr. Ray Harris, the outgoing director and
Chairman of the Audit Committee for his significant contributions and wishes him
all the best in his future endeavours.


About Yalian Steel Corporation

Yalian Steel Corporation is a British Columbia corporation focused on the
production of high quality Longitudinally Submerged Arc Welded (LSAW) steel pipe
to service Asia's rapidly growing energy transportation infrastructure market.
The Company has recently completed construction of its initial manufacturing
facility in city of Yangzhou, in the Jiangsu province of China. The Company's
production line has a rated capacity of up to 200,000 metric tons per year,
depending on product and mix specifications. The Yangzhou Yalian plant utilizes
the JCOE (Jing, C-ing, O-ing, Expanding) process, an advanced method of LSAW
pipe production that involves the bending and shaping of X-70 and higher grade
steel.


For further company information please access our website: www.yaliansteel.com

This press release contains forward-looking statements based on current
expectations. These forward-looking statements entail various risks and
uncertainties that could cause actual results to differ materially from those
reflected in these forward-looking statements. Risks and uncertainties about
Yalian's business are more fully discussed in the Company's disclosure materials
filed with the securities regulatory authorities in Canada. All amounts are
stated in Canadian dollars unless noted otherwise.