Habanero Resources Inc.

Habanero Resources Inc.

March 02, 2012 03:01 ET

Habanero Increases Land Holdings on Grand-Vallee North Prospect in Quebec

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 2, 2012) - Habanero Resources Inc. ("Habanero" or the "Company") (TSX VENTURE:HAO)(PINKSHEETS:HBNRF)(FRANKFURT:HRJ) wishes to report the it has increased its land holdings on the Grand-Vallée North Aluminous Clay prospect to approximately 7,400 (approximately 18,285 acres) contiguous hectares from 6,700 hectares. This new acreage was acquired through Gestim.

Jason Gigliotti, President of Habanero stated, "We are looking forward to starting work on this prospect, as well as on our other Quebec and Yukon Prospects shortly. We are about to enter the main season of exploration for Habanero where we will be active on multiple prospects. Yesterday we announced, what management felt, were encouraging sample results from our 100% Grand Vallée 7,400 hectares North Aluminous Clay Prospect which lies adjacent to Orbite Alumina Inc's (Orbite) 6,441 ha Grand-Vallée Property. Grades were as high at 22.99 % Al2O3 (alumina) with multiple samples grading over 18% Al2O3. Management is optimistic about what this prospect may mean to the short and long term growth of Habanero, considering we have only investigated one third of the property to date. Management is looking forward to very active 2012 season as we fully evaluate the prospect for aluminous clay and rare earth potential."

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; the Lezai Multi-Element Prospect comprising of approximately 55,100 contiguous acres in Quebec; and the Grande-Vallée North Aluminous Clay Prospect consisting of approximately 7,400 hectares (18,285 acres) near Murdochville Quebec, bordering Orbite Aluminae Inc.'s deposit.

Habanero President Jason Gigliotti will be presenting at the 2012 Prospectors and Developers Association (PDAC) in booth number 2612. Habanero will be presenting on March 4th and 5th and the show is being held at the Metro Toronto Convention Centre, South Building. Mr. Gigliotti welcomes all shareholders and prospective shareholders to meet Company management in person.

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.

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

Habanero Resources Inc.

Jason Gigliotti, President

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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