Aldershot Resources Ltd.
TSX VENTURE : ALZ

Aldershot Resources Ltd.

May 03, 2007 09:31 ET

Aldershot Resources Ltd.: Corporate Update

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 3, 2007) - Jeremy Caddy, President of Aldershot Resources Ltd. (the "Company") (TSX VENTURE:ALZ) is pleased to announce that the Company has received regulatory approval to the following property option agreements:

An option to purchase a 100% interest in the Sept Iles Uranium Claims in consideration for the issuance of an aggregate of 2,625,000 common shares and cash payments of an aggregate of $375,000, all over a six year period. The property is subject to a 2% NSR with the right by the Company to purchase 1% for $750,000.

An option to purchase a 100% interest in the Saguenay Uranium Project in consideration for the issuance of an aggregate of 1,200,000 common shares and cash payments of an aggregate of $115,000, all over a four year period.

An option to purchase a 100% interest in the Latour Uranium Claims Project in consideration for the issuance of an aggregate of 875,000 common shares and cash payments in the aggregate of $125,000, all over a six year period.

An option to purchase a 100% interest in the Forestville Uranium Project in consideration for the issuance of an aggregate of 1,200,000 common shares and cash payments in the aggregate of $120,000, all over a six year period. The property is also subject to a 2% NSR with the Company having the right to purchase 1% for $1,000,000.

An option to purchase a 100% interest in the Forestville Uranium Project (2) in consideration for the issuance of an aggregate of 1,800,000 common shares and cash payments in the aggregate of $480,000, all over a six year period. The property is also subject to a 2% NSR with the Company having the right to purchase 1% for $1,000,000.

An option to purchase a 100% interest in the Lac Cassette Uranium Property, Quebec in consideration for the issuance of an aggregate of 1,000,000 common shares and cash payments of an aggregate of $180,000, all over a four year period.

An option to purchase a 100% interest in the Latour Uranium Property, Quebec in consideration for the issuance of an aggregate of 1,000,000 common shares and an aggregate of $180,000 cash, all over a four year period.

All securities have been issued, in accordance with each agreement, having a hold period expiring August 31, 2007.

Stock Options

The Company also announces that it has granted CHF Investor Relations (Cavalcanti Hume Funfer Inc.) an additional incentive stock option for the right to purchase 250,000 common shares at an exercise price of $0.80 per share for four years. The options will be granted in accordance with the Stock Option Plan and be subject to the vesting provisions provided for therein and will also have the necessary four month hold period.

FOR AND ON BEHALF OF THE BOARD

ALDERSHOT RESOURCES LTD.

Jeremy Caddy, President and Director

This release has been prepared by management and no regulatory authority has approved or disapproved the information contained herein. Information in this report, insofar as it relates to resources' estimation and exploration activities, is based on information compiled by Ian Faris who is the Company's senior uranium geologist and who has more than ten years experience in the field of the activity being reported on. This report accurately reflects the information compiled by this Professional Engineer.

Should you wish to receive Company news via email, please email catarina@chfir.com and specify "Aldershot News" in the subject line.

About Aldershot Resources Ltd.

Aldershot Resources, based in Vancouver, Canada, is a uranium exploration company currently with projects in Northern Territory, Western Australia, Quebec and Zambia. Shares of the Company are listed for trading on the TSX Venture Exchange and there are approximately 40.8 million shares outstanding.

Cautionary Language and Forward-Looking Statements

This press release may contain "forward-looking statements", which are subject to various risks and uncertainties that could cause actual results and future events to differ materially from those expressed or implied by such statements. Investors are cautioned that such statements are not guarantees of future performance and results. Risks and uncertainties about the Company's business are more fully discussed in the Company's disclosure documents filed from time to time with the Canadian securities authorities.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release.

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