La Quinta Resources Corporation

La Quinta Resources Corporation

April 18, 2007 09:30 ET

La Quinta Agrees a Non Brokered Private Placement for $2.25 Million Dollars for Exploration in the Democratic Republic of Congo

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 18, 2007) - La Quinta Resources Corp. ("La Quinta or LAQ") (TSX VENTURE:LAQ) is pleased to announce that it has agreed a non brokered private placement for $2,250,000 for sale to accredited investors. The terms of the private placement are the sale of 4.5 million units consisting of one share and one half share purchase warrant for a unit price of 50 cents ($0.50) per unit.

Two half share purchase warrants entitle the holder to purchase one share in the Company at an exercise price of 70 cents ($0.70) per full share purchase warrant. Warrants will be exercisable up to twelve months after the date of closure of the placement.

Eight percent (8%) finders fees will be paid to accredited brokers or financial institutions. Eight percent (8%) finders fee warrants will also be granted to accredited brokers or financial institutions at an exercise price of 70 cents per share; exercisable up to twelve months from the date of closure of the placement. It is expected that the financing will close on 25th April 2007.

The Company will use the funds for exploration expenditures in DRC, Mexico and General Working Capital. The financing will be assisted by Haywood Securities Inc. out of Vancouver and Novadan Capital Limited, out of Toronto with both companies having committed to place a minimum of $1 million.

Malcolm Swallow, the Company's Chairman, commented: "We are looking forward to the challenges of commencing exploration on Kampene in Congo and are delighted to receive this vote of confidence from the two mining Investment Companies who are supporting us in this financing. With our first employees now on the ground in Congo, work at Kampene should progress rapidly and we also look forward to closing the transaction with Wa Balengela Kasai over the much larger 7,010 square kilometre land position in the Maniema-South Kivu Gold Belt."

The Kampene Project lies adjacent to a 7,010 square kilometre licence area for gold exploration owned by Wa Balengela Kasai-Investments Congo sprl ("WB. Kasai, or WBK"), which is the subject of a separate MOU between LAQ and WBK and is currently in the Due Diligence process (See LAQ Press Releases 06-10 August 28th 2006 and PR: 06-18, October 23rd 2006). Further discussion of the new initiative by La Quinta Resources in the Democratic Republic of Congo can be found on the Company's web site at

Malcolm Swallow, a Director of the Company, is a Vancouver based Mining Engineer (B.Sc. - Hons. Mining Engineering - Imperial College, London) with over 35 years operating and management experience in the Industry. He is an Associate of the Royal School of Mines, a Fellow of the Institute of Materials, Minerals and Mining and a Chartered Engineer in the UK. He is also a registered Professional Engineer in British Columbia, Canada and acted as the Qualified Person for this news release and has visited both Kampene and other properties in the 7,010 square kilometres WBK licence area.

On Behalf of the board

Malcolm JA Swallow, Chairman and CEO

SEC 12G file # 82-35061

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

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