Alma Resources Ltd.
TSX VENTURE : ALV

Alma Resources Ltd.

October 24, 2006 14:07 ET

Alma Provides La Seca, Los Tacotes, Reconaissance Update

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 24, 2006) - Alma Resources Ltd. (TSX VENTURE:ALV) ("Alma" or the "Company") is pleased to announce that, further to its news releases dated April 19 and September 22/2006, Mr. Luc Lamache has completed additional reconnaissance work on the La Seca (Los Tacotes) group of properties located in Sinaloa State, Mexico.

As previously announced, the first phase of exploration work consisted of chip and channel sampling of the main face of the existing Los Tacotes open pit. Based on the previous encouraging results further reconnaissance work has been completed and this tends to confirm that the two former producing gold mines, Los Tacotes and La Paloma (3 kilometres apart) could be part of the same mineralized system.

Recent work has yielded the following results:

La Obrita 1 Showing (located 140 metres south-west of the Los Tacotes open pit). A channel sample from a quartz vein on the southwest face, with a thickness of 0.7 to 1.75 metres, yielded the following results:

4.22 g/t Au (gold) and 37.55 g/t Ag (silver) over 5.25 metres

6.07 g/t Au (gold) and 49.65 g/t Ag (silver) over 6.35 metres

La Obrita 2 Showing (situated 15 metres south-west of La Obrita 1). A channel sample from a similar quartz vein, with a thickness of 0.3 to 1.1 metres, returned a value of 6.18 g/t Au (gold) and 59.9 g/t Ag (silver) over 7.7 metres

This vein, followed through the La Obrita 1 & 2 showings, resulted in an average grade of 5.61 g/t Au (gold) and 50.52 g/t Ag (silver) over 21 metres.

La Morita showing: A selected grab sample from a 1 metre quartz vein situated 100 metres south-west from the open pit returned a value of 12.6 g/t Au (gold) and 64 g/t Ag (silver).

Further preliminary sampling on newly located old workings will include work on the following showings surrounding the Los Tacotes showing:

Tachinole: 195 metres southwest of the open pit.

La Cobriza: 1 kilometre north of the open pit.

La Gloria: 600 metres south-east of the open pit.

La Paloma: 3 kilometres east of the open pit.

Qualified Person and Quality Control

Mr. Luc Lamarche, P.Geol, is the Company's qualified person for the La Seca (Los Tacotes) project. Mr. Lamarche is responsible for the current exploration program and has supervised the preparation of all of the technical information upon which this news release is based.

Samples are shipped to the ALS Chemex preparation laboratory in Hermosillo, Mexico and then sent by air freight to ALS Chemex in Vancouver for assaying. Systematic assaying of standards and blanks was performed for precision and accuracy.

About Alma Resources Ltd.

Alma has recently completed a CAD $4.8 million financing, graduated from the NEX to the TSX Venture Exchange, and acquired Promotora Minera Dialex S.A. de C.V., a private Mexican company that holds, or has rights to acquire, a portfolio of 13 highly prospective silver, gold, base metal (Cu, Zn) and iron mineral properties in Sinaloa State, Mexico. Alma is committed to acquiring and developing proven, undeveloped mineral projects in Latin America and the acquisition of Dialex represents its first acquisition in this region. In addition, Alma personnel in Mexico have identified a number of other prospective mineral property acquisitions, and are pursuing the evaluation and possible acquisition of these properties.

ON BEHALF OF THE BOARD OF DIRECTORS

Lawrence W. Talbot, Chief Executive Officer and Director

All of the Company's public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical report filed with respect to the La Seca (Los Tacotes) mineral property.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 27E of the Exchange Act. Such statements include, without limitation, statements regarding the timing of work programs, future anticipated exploration program results, the discovery and delineation of mineral deposits/resources/reserves, business and financing plans, business trends and future operating/royalty revenues. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially and adversely from those in forward looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, variations in commodity prices, the Company's or any third party's ability to obtain any necessary permits, consents or authorizations required for its activities, to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its planned business strategies.

This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this Press Release, which has been prepared by management.

Contact Information

  • Alma Resources Ltd.
    Lawrence W. Talbot
    Chief Executive Officer and Director
    (604) 669-9788
    (604) 669-9768 (FAX)
    Website: www.almaresources.com