Alder Resources Ltd.

Alder Resources Ltd.

December 14, 2011 07:00 ET

Alder Announces Channel Sample Results of 1.07% Copper, 2.37 g/t Gold and 21.88 g/t Silver at Rosita Copper-Gold-Silver Porphyry/Skarn Project, Nicaragua

TORONTO, ONTARIO--(Marketwire - Dec. 14, 2011) - Alder Resources Ltd. ("Alder") (TSX VENTURE:ALR) is pleased to announce it has received assay results for vertical channel samples from the mineralized dumps at its Rosita Cu-Au-Ag project in northeastern Nicaragua. Individual channels included average values of up to 2.27% total copper, 1.76% soluble copper, 2.37 g/t gold and 24.60 g/t silver. The average grades for the 17 sample traverses are 0.55% total copper, 0.28% soluble copper, 0.47 g/t gold and 8.73 g/t silver. The assay results are listed below and illustrated in Figures 1 to 3 at the end of this news release.

Dump Traverse Line Copper (%)
Gold (g/t)
Silver (g/t)
North PR1 0.63 0.92 10.66
North PR2 0.58 0.24 4.66
North PR3 0.70 0.09 18.20
North PR4 0.70 0.22 7.60
South PR5 0.63 0.33 10.72
South PR6 0.57 0.25 6.95
South PR7 0.41 0.26 5.98
South PR8 1.07 2.37 21.88
SW PR9 0.14 0.51 3.00
SW PR10 0.05 0.25 0.94
SW PR11 0.16 0.45 3.91
SW PR12 0.11 0.23 3.28
SW PR13 0.11 0.23 2.49
SW PR14 0.36 0.36 11.27
East PR15 2.27 0.38 24.60
East PR16 0.42 0.46 6.68
East PR17 0.36 0.46 5.55
Average 0.55 0.47 8.73

The global average grades for all of the samples are 0.46% total copper, 0.22% soluble copper, 0.46 g/t gold and 7.67 g/t silver. A total of 236 samples were collected over four dump areas including the South West dump (500m by 200m), the North dump (400m by 200m), the South dump (400m by 200m) and the East dump (500m by 100m). Drilling to date indicates thicknesses range from 6 metres to 39 metres. Channel samples were taken at one metre vertical height down the slope of each dump at a line spacing of either 100 metres or 200 metres, depending on accessibility. Approximately 5 kilograms of material was collected for each sample. Both total and soluble copper analyses were carried out due to the presence of copper oxides. The vertical channel sampling was completed at the largest four of the eightdumps on the property and will be followed up with reverse circulation (RC) drilling along a 100 metre spaced grid at the dumps. This drilling is expected to be completed early in 2012.

Joseph Arengi, President and Chief Executive Officer of Alder, stated: "The average high gold and silver values exceeded our expectations and illustrate their importance in the mineralized system. It is also exciting to see that this historic 'waste' is so well mineralized. We are in the process of testing each of the dumps with RC drilling and hope to better quantify this potential resource."

Alder has entered into an option agreement to acquire a 65% interest in the Rosita D concession from Calibre Mining Corp. (as disclosed in a press release issued by Alder on August 22, 2011), which hosts the historic open pit Santa Rita copper-gold-silver deposit from which 5.37 million tonnes of ore grading 2.06% copper, 0.93 g/t gold, and 15.08 g/t silver was extracted. The mine closed in 1975 due to low copper prices. Alder's management believes that a substantial amount of copper-gold-silver mineralization lies both below and adjacent to the Santa Rita pit. Recent work returned trench intercepts of 1.06 g/t gold, 0.96% copper and 9.33 g/t silver over 12.0 metres and 3.26% copper, 55.82 g/t silver and 0.15 g/t gold over 8.30 metres. Historic drilling below the Santa Rita pit returned intercepts that included 2.27% copper, 0.21 g/t gold and 30.85 g/t silver over 16.7 metres true width at a vertical depth of 225 metres below the assumed base of the pit. The Rosita deposit is open to depth and along strike.

The Bambana prospect, located four kilometres northwest of the Santa Rita open pit, returned historic intercepts of up to 0.43% copper and 6.54 g/t silver over 42.0 metres and 0.51% copper, 0.25 g/t gold and 10.41 g/t silver over 11.5 metres in two diamond drill holes completed in 2010. A review of this area by Alder confirmed copper porphyry-style alteration and sulphide mineralization. Alder has not yet done sufficient work to verify the historic drill results reported in this news release and does not intend to use this information for purposes other than planning and prioritizing exploration targets.

As previously stated in a press release issued by Alder on October 20, 2011, Alder's first priority will be to confirm mineralization in areas that reported historic copper-gold mineral resources on the property. The initial work program on the property includes an evaluation of the mineralized dumps and talings ponds by trenching and RC drilling, testing high priority targets around the old Santa Rita and R-13 pits, trenching and drilling at Bambana and a reinterpretation of the geophysical data. Alder plans to use the results of this initial work to develop an aggressive drill program that will be designed to lead to a resource estimate.

Ongoing RC drilling is intended to delineate the internal grade and thickness of each dump. To date, 12 holes totaling 276 metres have been completed at the dumps with drilling expected to continue until December 20th before breaking for Christmas. The initial phase of the drilling program will include 1,000 metres of RC drilling to test the dumps and follow-up on historic mineralized diamond drill intercepts below the Santa Rita pit. Additional RC drilling of up to 4,000 metres will test mineralization in other highly prospective areas, including R-13 and the Bambana porphyry copper target as well as other targets generated during the ongoing exploration program.

Quality Assurance/Quality Control

Each sample is collected from a cleaned surface into a heavy gauge plastic bag, sealed and shipped to Inspectorate Exploration and Mining Services' preparation laboratory in Managua. Pulps are prepared for shipping to Inspectorate's analytical laboratory in Vancouver, where each sample is analyzed for total copper using aqua regia digestion and a 30 element ICP (inductively coupled plasma-atomic emission spectrometry) method, soluble copper using dilute sulfuric acid digestion with AA (atomic absorption) finish and gold using fire assay with AA finish. Alder has implemented an industry standard Quality Assurance/Quality Control program that includes the insertion of certified standards and blanks into the sample stream.

Qualified Person

Joseph Arengi, M. Sc., P. Geo., President and Chief Executive Officer of Alder and a qualified person under NI 43-101, has reviewed and approved the scientific and technical information in this press release.

About Alder Resources Ltd.

Alder is a resource company focused on the development of gold and base metal projects throughout Latin America. Current focus is on the Rosita project in Nicaragua located 275 km northeast of Managua. Alder will continue to build its property position with strategic acquisitions.

Alder Resources Ltd.

Joseph Arengi, President & CEO

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, without limitation, statements regarding potential mineralization, reserve and resource determination, exploration results and future plans. 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 Alder, as the case may be, 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 Alder 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. Alder does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

To view Figures 1-3, click on the following link:

Neither TSX Venture Exchange nor its Regulation Services Provider (as thtat 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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