Alder Resources Ltd.

Alder Resources Ltd.

August 22, 2011 08:00 ET

Alder Enters Option to Acquire 65% Interest in Rosita in Nicaragua

Historic Production of 5.9 Million Tonnes Grading 2.06% Copper and 0.925 g/t of Gold

TORONTO, ONTARIO--(Marketwire - Aug. 22, 2011) - Alder Resources Ltd. ("Alder" or the "Company") (TSX VENTURE:ALR) is pleased to announce that it has executed an option agreement with Calibre Mining Corporation (TSX VENTURE:CXB) ("Calibre") whereby Alder can earn a 65% interest in the 3,356 hectare Rosita D concession (the "Property", see attached Figure). The Property hosted historic open pit production of 5.9 million tons at 2.06% Cu and 0.925 g/t Au. In management's opinion, a significant opportunity exists in and around the Rosita pit not only for the extension of the historic zones, but, also for the discovery of new zones of copper and gold mineralization.

To view the Figure associated with this release, please visit the following link:

Under the terms of the option agreement, Alder can earn a 65% interest in the Rosita D concession by expending a total of CDN$4.0 million on exploration and other work on the Property and by issuing to Calibre a total of 1,000,000 common shares of Alder over a 4 year period. Alder will be acting as the project operator for all work conducted on the Property during the option period with the first year exploration commitment being CDN$500,000. Upon Alder earning a 65% interest in the Property a joint venture will be formed with Alder and Calibre being responsible for their pro-rata share of all subsequent project expenditures. The option agreement is subject to a 45 day due diligence period by Alder from the date of execution of the agreement and in subject to approval of the TSX Venture Exchange.

Don Dudek, Director of Alder stated: "The Rosita Cu-Au copper project provides Alder with a low cost entry into a high value exploration target in a historic mining district. With this exciting acquisition Alder shareholders can look forward to drill results from the testing of known zones and good potential for the discovery of new zones."

Edward Farrauto, President and CEO of Calibre stated: "We are very pleased to have Alder as a partner to continue exploration of the Rosita D concession including the formerly producing Santa Rita open pit copper-gold mine."

The Rosita D concession consists of an area of 3,356 hectares and is located 275 kilometres northeast of the capital city of Managua and has road access to the port at Puerto Cabezas, located approximately 120 km to the east (see attached figure). The historic open pit Santa Rita copper-gold mine boasts total historic production from the mine estimated at 305 million pounds of copper, 177,737 ounces of gold, and 2,629,720 ounces of silver from 5,924,572 tons of ore. Average historic grades from the copper-gold skarn mineralization at the mine were calculated at 2.06% Cu, 0.925 g/t Au, and 15.08 g/t silver (Arengi, 2002). The mine closed in 1975 due to low copper prices. Recent work carried out by Calibre returned trench intercepts of 1.06 g/t Au, 0.96% Cu and 9.33 g/t Ag over 12.0 metres and 3.26% Cu, 55.82 g/t Ag and 0.15 g/t Au over 8.30 metres. In addition to the trenching program, 31 surface rock samples were collected with with 15 samples returning gold values greater than 1.0 g/t Au and up to 5.36 g/t Au and 25 of the 31 samples returning copper values greater than 0.4% Cu with the highest sample being 1.87% Cu.

Historic drill intercepts from the R-13 zone, located 500 metres east of the Rosita deposit, reportedly returned up to 7.2% Cu, 0.44 g/t Au and 76.8 g/t Ag over 10.5 metres. This zone is open to depth and along strike.

The Bambana prospect is located four kilometres northwest of the Santa Rita open pit. In 2010, Calibre completed three drill holes that returned intercepts of up to 0.43% copper over 42 metres and 0.51% copper and 0.25 g/t gold over 11.50.

Don Dudek, P.Geo., a director of the Company and a qualified person under National Instrument 43-101 has reviewed and approved the scientific and technical information in this press release.

About Alder Resources

Alder Resources is a resource company focused on the development of gold and base metal projects throughout Latin America. Current projects include its La Montanita gold property 40 km northeast of Medellin and the recently announced Rosita Project in Nicaragua located 275 km northeast of Managua. Alder will continue to build its property position with strategic acquisitions. The La Montanita property is approximately 80 km from Continental Gold's Buritica asset.

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 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 operations 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.

Contact Information