Altai Resources Inc.
TSX VENTURE : ATI

Altai Resources Inc.

May 24, 2012 14:59 ET

Altai Announces the Resignation of the President and CEO, and COO and VP Exploration

TORONTO, ONTARIO--(Marketwire - May 24, 2012) - Altai Resources Inc. (TSX VENTURE:ATI) (US SEC Rule 12g3-2(b) File # 82-2950) ("Altai" or the "Company") announces that effective May 23, 2012 Marc-André Lavoie has resigned as President and Chief Executive Officer of the Company, Geraint Lloyd has resigned as Chief Operating Officer and VP Exploration of the Company and the board of directors has accepted their resignations. Mr. Lavoie remains a director of the Company, and Niyazi Kacira, currently a director and Chairman of the Company, has been appointed Interim President of Altai.

The Montreal office of the Company will be closed with immediate effect.

The board of directors of the Company thanks Messrs. Lavoie and Lloyd for their services as officers since joining Altai in October 2010 and wishes them all the best in their future endeavors.

ALTAI RESOURCES INC. IS A RESOURCE COMPANY WITH A PORTFOLIO OF OIL AND GAS, AND GOLD PROPERTIES IN CANADA.

We Seek Safe Harbour.

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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