Habanero Resources Inc.
TSX VENTURE : HAO
PINK SHEETS : HBNRF
FRANKFURT : HRJ

Habanero Resources Inc.

November 02, 2011 08:57 ET

Habanero Completes First Phase of Operations on Quebec Gold Prospect

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 2, 2011) - Habanero Resources Inc. ("Habanero" or the "Company") (TSX VENTURE:HAO) (PINK SHEETS:HBNRF) (FRANKFURT:HRJ) wishes to announce to announce that it has been informed by Apex Geoscience Ltd. that, "Exploration crews have completed a preliminary geologic reconnaissance of the Lezai Gold Prospect in Quebec. A total of five priority areas were targeted within claims based on geologic compilation work indicating favourable geology and gold potential. Crews recently submitted a total of 100 rock grab samples comprising both outcrop and glacially transported boulders to ALS Minerals Val d'Or Laboratory for gold fire assay and multi-element ICP-MS analysis. Mineralization consisting of silicification and quartz of veining mafic volcanic rock containing pyrite and lesser chalcopyrite was noted at two of the five sites examined."

The Lezai Gold Prospect comprises of approximately 55,100 contiguous acres, which are located approximately 125 kilometres northwest of Chibougamau, Quebec.

Jason Gigliotti, President of Habanero stated, "We are pleased have completed the first phase of operations on the Lezai Gold Prospect in Quebec. We were able to take samples from the 5 highest priority areas on the sizable prospect and eagerly await the results in order to move forward with an anticipated drill program. Not only are we waiting for these results, but we are also waiting for our silver assays from the Keno Hill Drill Program at Haldane in the Yukon."

HAO also recently (October 7, 2011) acquired the "Grande-Vallée North" Aluminous Clay prospect consisting of 5,574 contiguous acres in Quebec. This prospect directly borders to the north Orbite Aluminae Inc. (ORT—TSX) 6,441-hectare Grande-Vallée property, the site of an aluminous clay deposit located 32 km northeast of Murdochville, Québec. According to Orbite's website, "A NI 43-101 compliant technical report on the disclosure of information relating to mineral projects in Canada indicates that the clay deposit at the Grande-Vallée property contains, conservatively estimating a density of 2 tonnes per cubic metre, 800 million to 1 billion tonnes of "indicated mineral resources" in the first 100 metres depth of the Marin sector alone. The property is strategically located near several deepwater ports and across the St. Lawrence River from the province's major aluminum smelters."

Habanero is a diversified junior company with the following prospects; the White Gold Prospect in the White Gold Region Yukon, bordering Kinross' Golden Saddle discovery; the Haldane Silver Prospect in the Keno Hill Silver Region of the Yukon bordering Alexco Resources Corp's Bellekeno property; a sizable land holder within land prospective for lithium in Alberta; significant acreage in Quebec bordering Beaufield Resources Inc.; holdings in the Alberta Oilsands: and now the Grande-Vallée North aluminous clay prospect near Murdochville Quebec, bordering Orbite Aluminae Inc. deposit.

If you would like to be added to Habanero's email updates list, please send an email to ir@habaneroresources.com requesting to be added.

Work on the Lezai Gold Prospect is supervised by Kristopher J. Raffle, P.Geo (BC) Senior Geologist for APEX Geoscience Ltd. of Edmonton, AB, who is the qualified person for the project as defined by National Instrument 43-101. Mr. Raffle has reviewed the portion of the technical content of this news release as it relates to the Lezai Gold Prospect.

To view maps of these projects please go to http://www.habaneroresources.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.

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