Alder Resources Ltd.

September 09, 2010 07:00 ET

Alder Announces Commencement of Work Program and Drill Contract at Its La Montanita Property in Medellin, Colombia

TORONTO, ONTARIO--(Marketwire - Sept. 9, 2010) -  Alder Resources Ltd. ("Alder" or the "Company") (TSX VENTURE:ALR) is pleased to announce that it has initiated the previously announced work program designed to accelerate project development its La Montanita property located 40 kilometres northeast of Medellin, Colombia (the "Property"). Alder has signed a drill contract for a minimum of 2500 metres drilling on the Property with Energold de Colombia SAS; a Colombian drilling company with offices in Medellin (See Figure 1).

The drill is immediately available and the Company expects that drilling on the Property will begin within the following month. Rene Bharti, President and CEO states, "We are excited to have an exploration program well underway, involving sampling, geophysics, and geochemistry. With the drill contract signed, we hope to begin unlocking the value of this existing asset."

Management has also secured shared office spaces in both Bogota and Medellin, Colombia where a team of local consulting geologists and engineers will be available to Alder when needed.

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 the commencement of the drill program at the Property, statements with respect to the development potential and timetable of the Property; the potential to identify mineral resources on the Property; 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.

To view Figure 1, please visit the following link:

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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