Alder Resources Ltd.

September 01, 2010 19:20 ET

Alder Announces Appointment of the Honorable Pierre Pettigrew, p.c. to the Board of Directors

TORONTO, ONTARIO--(Marketwire - Sept. 1, 2010) - Alder Resources Ltd. ("Alder" or the "Company") (TSX VENTURE:ALR) is pleased to announce the appointment of the Honorable Pierre Pettigrew, p.c. to the Board of Directors of the Company. The Honourable Pierre Pettigrew, p.c. has had a distinguished career with success in both public and private sectors. From January 1996 to February 2006, he served as a Member of Parliament. Most notably, he led a number of senior government departments in his ten years as a minister in successive federal Canadian governments. Among other positions, he has served Canada as the Minister of Foreign Affairs, Minister for International Trade and the Minister for International Cooperation. He is now with Deloitte & Touche LLP in the role of Executive Advisor, International. Prior to entering national politics, Pierre Pettigrew was the Vice President of Samson Belair Deloitte & Touche International (Montréal), where he acted as an international business consultant.

Mr. Pettigrew states, "I've been very impressed over the last few years by the progress Colombia has made toward significant political stability and substantial economic progress. Mining in Colombia, as it has been in Canada, is at the heart of its future. I'm delighted to join Alder's board as it is poised to take advantage of its good mining code and contribute to a stable development of a country in our hemisphere."

In conjunction with the Mr. Pettigrew's appointment, Alder has issued a total of 1.3 million stock options under the stock option plan of the Company to various officers, consultants and directors of the Company. The options shall vest immediately and are exercisable at $0.35 per option, expire on August 31, 2015 and remain subject to receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. 

About Alder Resources

Alder Resources is a Colombian-based company focused on gold development at its La Montanita property 40 km northeast of Medellin, as well as accretive acquisitions in the area. The La Montanita property is approximately 80 km from Continental Gold's Buritica asset. The Company also holds an option to acquire a 60% interest in Cariboo Rose's Canadian Creek Mineral Property located in the Whitehorse Mining District of the Yukon Territory, which is 160 km south of Dawson City, Yukon.

Cautionary Note Regarding Forward-looking Information

Will Randall, a Director of the Company and a qualified person under NI 43-101, has reviewed the scientific and technical information in this press release. 

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding mining in Colombia, statements with respect to the development potential and timetable of the property of the Company; the potential to identify mineral resources; the timing and amount of estimated future exploration, success of mining activities; and receipt of government approvals. 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 to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; risks associated with operation in foreign jurisdictions; ability to successfully integrate the purchased properties; foreign operations risks; and other risks inherent in the mining industry. 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 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.

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