Alder Resources Ltd.
TSX VENTURE : ALR

June 12, 2009 15:10 ET

Alder Resources Ltd. Options Canadian Creek, Yukon, Property

TORONTO, ONTARIO--(Marketwire - June 12, 2009) - Alder Resources Ltd. (TSX VENTURE:ALR) ("Alder") has signed a Letter of Intent Option Agreement with Cariboo Rose Resources Ltd. of Vancouver, BC ("Cariboo Rose") - TSX Venture: CRB - giving it the option to earn a 60% interest in Cariboo Rose's Canadian Creek Mineral Property located in the Whitehorse Mining District of the Yukon Territory ("Property") 160 km south of Dawson City, Yukon. The property is also 50 km southeast of the Underworld Resources Inc. owned White Gold project and approximately 25 km southeast of Kaminak Gold Corp.'s Coffee property. The Canadian Creek claims cover an area of approximately 4,800 hectares.

Alder can earn a 60% interest in the Property by completing certain cash payments (totalling $250,000), issuing a total of 250,000 shares in its capital, and fulfilling designated exploration expenditures on the Property totalling $2,500,000, within the times specified, all to be completed by June 18, 2013. Alder has given a firm commitment to complete the first $250,000 of the work by June 18, 2010.

Alder has also committed to fund and complete an NI 43-101 compliant report on the property by January 31, 2010.

Upon Alder earning a 60% interest in the Property the parties shall be constituted a joint venture.

More detailed information about the property was given by Cariboo Rose in a News Release issued by it June 8, 2009 - which may be seen at www.cariboorose.com.

Neither the 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

  • Alder Resources Ltd.
    Bruce Ford
    President
    (416) 300 8023