La Quinta Resources Corporation

La Quinta Resources Corporation

November 18, 2008 13:15 ET

La Quinta Receives Termination Notice for Congo Joint Venture

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 18, 2008) - La Quinta Resources Corporation (TSX VENTURE:LAQ) (the "Company") regrets to report that it has now received a formal termination notice from its Congolese joint venture Partners Wa Balengela Kasai Investments Congo, sprl, (WBK) in Democratic Republic of Congo, requesting that the Joint Venture should be formally terminated. The Company had been working to amend the terms of the agreements, (see Press Release #08-17, dated November 4th 2008;) but failed to reach any consensus with WBK on a way forward for the Joint Venture and as a consequence, the Company will allow the agreement to terminate.

Because of the financial market conditions and the current political uncertainty in Congo, the Company is unable to meet the current payment expectations of WBK, and the funding requirements of the JV and rather than enter into an expensive and potentially difficult arbitration process in Congo, with no guarantee of success, the Company will therefore allow the project to drop and management will work to develop a new strategy for the ongoing development of the Company.


Malcolm JA Swallow, Chairman and CEO

SEC 12G file#82-35061

The TSX Venture Exchange has not reviewed and does not accept any responsibility for the accuracy or adequacy of this news release, which has been prepared by management.

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