Alder Resources Ltd.

November 17, 2010 07:00 ET

Alder Receives IP Survey Results and Provides Drill Update

TORONTO, ONTARIO--(Marketwire - Nov. 17, 2010) - Alder Resources Ltd. ("Alder" or the "Company") (TSX VENTURE:ALR) is pleased to announce that it has received the final interpretation of the results of the induced polarization ("IP") survey conducted over the prospective areas of La Montanita project ,located in Colombia. Interpretation of the results indicate at least ten anomalies that are coincident with areas of historical artisanal underground and surface workings. These anomalies delineate a prospective area of approximately 300 by 400 metres. Please refer to Figure 1 for an example of the anomalies detected as a result of the survey.

William Randall, VP Exploration, commented, "We believe the positive results of the IP survey are an excellent indicator of gold mineralization on the project. We now have a series of anomalies to target during the drill program as well as hundreds of metres of underground artisanal workings that have now been traced to depths of over 30 metres below surface. We are looking forward to receiving the first results of the drill program."

Rene Bharti, President and CEO, added, "The drill program is progressing well. Four diamond drill holes have been completed to date with a fifth underway. Assay results from the first holes are expected within 20 days."

The IP survey was completed by MIBEX (Mining Business and Exploration), a geological services company with offices in Bogota, Colombia. Interpretation of these results was also carried out by the same contractors.

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

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

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the IP survey, the anticipated timing with respect to the drill results, statements made with respect to the drill program being conducted with respect to the property, , the property, 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.

To view Figure 1, please click on 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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