Alder Resources Ltd.

January 27, 2011 08:00 ET

Alder Resources Hires New VP of Exploration and Provides Corporate Update

TORONTO, ONTARIO--(Marketwire - Jan. 27, 2011) - Alder Resources Ltd. ("Alder" or the "Company") (TSX VENTURE:ALR) is pleased to announce appointment of Marcelo Albuquerque as the Vice President, Exploration of the Company. Mr. Albuquerque brings over twenty years of experience to the Alder team. Prior to joining Alder, Mr. Albuquerque served as the country manager of Colombia for Vale SA. Mr. Albuquerque holds a degree in Geology from Brasilia University, as well as an MBA from Fundacao Dom Cabral. Mr. Albuquerque is fluent in English, Spanish and Portuguese.

In connection with his appointment, Mr. Albuquerque has been granted 400,000 stock options of the Company. The options have an exercise price of $0.30 and will vest in quarterly installments over a two year period, subject to a statutory four month hold period. The options will expire on January 26, 2015 and are subject to receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.

Mr. Albuquerque replaces Mr. Will Randall, as the former Vice President, Exploration of the Company. The Company would like to thank Mr. Randall for his work in this role. Mr. Randall will remain on the Board of Directors of the Company.

The Company also announces that it has entered into a non-binding letter agreement with a private party to acquire an 80% interest in certain claims comprising approximately 2,900 hectares located in the Antioquia area of Colombia. The asset is located approximately 32 kilometres from Medellin and already has internal roads to facilitate exploration logistics. Rene Bharti, President and CEO of the Company states, "We believe this strategic acquisition of approximately 2,900 hectares of land in a highly prospective gold region will greatly complement our existing land package in Colombia."

The Company has received assay results from five (5) drill holes drilled at its La Montanita property, being MO-10-01 to MO-10-04 and MO-10-07 which indicated results from five samples within the range of 0.1 to 0.3 g/t Au and one sample at 2.5 g/t Au. While the assay results indicate no significant gold mineralization at this point, the Company is awaiting results of the remaining samples and will report as soon as they are received.

Alder remains focused on making accretive acquisitions for the Company to build on its La Montanita asset in Colombia. Management of the Company believes the addition of Marcelo Albuquerque as its new Vice President, Exploration will make the Company a well rounded Colombian player. The Company remains motivated by its healthy balance sheet and capital structure, which management believes, will allow the Company to further in increase the scope of its land package in Colombia in the upcoming months.

In addition, the Company would like to announce that it has appointed Don Dudek, P.Geo to the Board of Directors of the Company. Mr. Dudek will be an independent member of the Board. Mr. Dudek currently serves as the VP Exploration for Avion Gold Corporation, and brings over 30 years of experience to the board. In addition, Mr. Dudek has been granted 100,000 stock options of the Company. The stock options have an exercise price of $0.30 and will vest immediately, subject to a statutory four month hold period. The options will expire on January 26, 2015 and remain subject to receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.

Will Randall and Marcelo Albuquerque, qualified persons under NI 43-101, have reviewed and approved the scientific and technical information 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 (See Map at

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 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.

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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