Nyah Resources Corp.
TSX VENTURE : NRU

Nyah Resources Corp.

October 13, 2009 08:00 ET

Nyah Resources Shareholders Approve Reverse Take-Over by Russo-Forest Corporation With 99% of Votes Cast in Favour of Transaction

TORONTO, ONTARIO--(Marketwire - Oct. 13, 2009) -

NOT FOR RELEASE IN THE UNITED STATES OR TO U.S. NEWS WIRE SERVICES

Nyah Resources Corp. (TSX VENTURE:NRU) ("Nyah" or the "Corporation"), is pleased to announce that Nyah shareholders have approved the proposed reverse take-over (the "Transaction") of Nyah by Russo-Forest Corporation ("Russo-Forest").

At the annual and special meeting, disinterested Nyah shareholders holding approximately 41% of the issued and outstanding shares of Nyah voted with more than 99% of the votes cast being voted FOR the Transaction. Completion of the Transaction remains subject to the required regulatory approvals, including the approval of the TSX Venture Exchange. Nyah plans to close the Transaction in the coming weeks. The combined company will be renamed Russo-Forest Corp. with the common shares to trade on the TSX Venture Exchange under the symbol "SAW".

Russo-Forest is a growing timberland and harvesting company. It intends to establish itself as a leading, vertically-integrated, certified supplier of value added wood products in Russia. Russo-Forest is capitalizing on the opportunity to harvest high value, low cost Russian timber, by converting the timber into value added wood products that will supply end use markets in Russia, China, Japan, Europe and North America.

Russo-Forest is working to acquire lease agreements that provide for up to approximately 10,000,000 m3 of additional allowable cut in the eastern regions of Russia. In the event that it successfully obtains such additional lease agreements, Russo-Forest will be one of the largest timberland holders in the world.

About Nyah Resources Inc.

Nyah is a Canadian mineral exploration company listed on the TSX Venture Exchange under the symbol NRU. The Company currently has cash on hand of approximately $1.5 million.

For further information regarding Nyah, please visit the Company's website at www.nyahresources.com

Completion of the transaction is subject to a number of conditions, including TSX Venture Exchange acceptance. The transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed at all.

Investors are cautioned that, except as disclosed in the Management Information Circular to be prepared in connection with the transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Nyah should be considered highly speculative.

This communication does not constitute an offer to purchase or exchange or the solicitation of an offer to sell or exchange any securities of Russo-Forest or an offer to sell or exchange or the solicitation of an offer to buy or exchange any securities of Nyah, nor shall there be any sale or exchange of securities in any jurisdiction (including the United States) in which such offer, solicitation or sale or exchange would be unlawful prior to the registration or qualification under the laws of such jurisdiction. The distribution of this communication may, in some countries, be restricted by law or regulation. Accordingly, persons who come into possession of this document should inform themselves of and observe these restrictions. The solicitation of offers to buy Nyah shares in the United States will only be made pursuant to a prospectus and related offer materials that Nyah expects to send to holders of Russo-Forest securities, subject to the requirements of applicable law. The Nyah shares may not be sold, nor may offers to buy be accepted, in the United States prior to the time the registration statement (if any is filed) becomes effective or an exemption from such requirements is available. No offering of securities shall be made in the United States except (i) by means of a prospectus meeting the requirements of Section 10 of the United States Securities Act of 1933, as amended, which would contain detailed information regarding Nyah and its management, as well as its financial statements, or (ii) pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended.

Cautionary Note Regarding Forward-Looking Information This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the future financial or operating performance of Nyah and Russo-Forest and its projects, statements regarding the prospects for the business of Russo-Forest, statements regarding synergies and financial impact of the proposed transaction, the terms and conditions of the transaction, the benefits of the proposed transaction, the costs of and capital for harvesting projects, harvesting expenditures, timing of future acquisitions of additional harvesting licences, requirements for additional capital, government regulation of the forestry industry, environmental risks, acquisition of harvesting licences, title disputes or claims, limitations of insurance coverage and the timing and possible outcome of pending litigation and regulatory matters. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends",
"anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company (and the company resulting from the successful completion of the proposed transaction) to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, foreign operations,
political and social uncertainties; the actual results of harvesting activities; a history of operating losses; delay or failure to receive board or regulatory approvals; timing and availability of external financing on acceptable terms;
not realizing on the potential benefits of the proposed transaction; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of timber products; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the forestry industry; and, delays in obtaining governmental approvals or required financing or in the completion of activities. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINTED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has not approved or disapproved of the contents of this news release.

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