Allana Resources Inc.

Allana Resources Inc.

April 27, 2009 07:30 ET

Allana Resources Inc. Engages Investor Relations Group and Launches Chinese-Language Website

TORONTO, ONTARIO--(Marketwire - April 27, 2009) - Allana Resources Inc. (TSX VENTURE:AAA) ("Allana"), is pleased to announce that it has engaged Investor Cubed Inc. ("Investor Cubed") to provide investor communications, shareholder information and public relations services effective April 22, 2009.

In connection with the engagement, Investor Cubed has been awarded a consulting contract for $5000 per month for a term of twelve months, however, after June 22, 2009, Allana shall have the right to terminate the agreement on thirty days written notice. In addition, Investor Cubed has been granted 500,000 stock options at a price of $0.20. The options shall vest quarterly over a period of two years with the first installment vesting on the date of grant, subject to the four month regulatory hold. The options shall be subject to regulatory approval and shall expire five years from the date of grant, subject to the termination provisions of Allana's Stock Option Plan.

Allana is also pleased to report that it has launched a Chinese-language microsite due to the increased interest to Allana's potash property in Ethiopia from Chinese-speaking investors and partners. In order to access the Chinese version, please visit Allana's website at and click on the "Chinese version" link on the home page.

About Investor Cubed

Investor Cubed provides two complementary business services; specialized investor relations services for small capitalization Canadian companies and capital markets services for asset managers.

Investor Cubed identifies Canadian companies with exceptional growth potential and guides them to the prominence that they deserve with retail and institutional investors alike. By being where venture capital meets capital markets, we fill a vitally important market niche. Thus, Investor Cubed provides unique investor relations' services and strategic guidance on capital markets' issues to a select group of Canadian small capitalization companies. In addition Investor Cubed advises investment firms on the development of structured products, mutual funds and alternative offerings and provides distribution services to deliver these products to the Canadian investment community.

About Allana Resources Inc.

Allana is a publicly traded corporation with a focus on the acquisition and development of potash assets internationally and recently optioned a previously explored potash property in Ethiopia with NI 43-101-compliant Inferred Mineral Resource of over 100 million tonnes of potash mineralization (Sylvite and Kainite) with a composite grade of 20.8 % KCl (see News Release Sept. 17, 2008). Allana has approximately 61 million shares outstanding and trades on the TSX-Venture exchange under the symbol "AAA".

Peter J. MacLean, Ph.D., P. Geo., Allana's Senior VP Exploration, is a Qualified Person as defined under National Instrument 43-101 and has reviewed and approved the technical information presented in this release.

Cautionary Notes

This press release contains "forward looking information" within the meaning of applicable Canadian securities legislation. Forward looking information includes, without limitation, statements regarding the impact of the appointment on the Company. 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; ability to successfully integrate the purchased properties; foreign operations risks; and other risks of 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.


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