La Quinta Resources Corporation
TSX VENTURE : LAQ

La Quinta Resources Corporation

April 27, 2011 09:00 ET

La Quinta Enters LOI to Acquire BC Massive Sulfide Project With 171 g/t Silver, 6.7% Copper

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 27, 2011) - La Quinta Resources Corporation (TSX VENTURE:LAQ) ("La Quinta") is pleased to announce that it has entered into a Letter of Intent (LOI) to acquire the Carruthers Pass, B.C. massive sulfide project from Cariboo Rose Resources Ltd. (TSX VENTURE:CRB) ("Cariboo Rose").

Under the terms of the LOI, the Company can acquire 90% of the project from Cariboo Rose over a six (6) year term by spending $2 million in work commitments on the project, and making payments of $470,000 cash and issuing 2 million shares of the Company's common stock to Cariboo Rose. The Company further has opportunity to acquire the remaining 10% interest from Cariboo Rose at fair market value. The project is subject to a 2.5% royalty, which may be reduced to 1% royalty by purchase from the underlier, Phelps Dodge Corporation of Canada, Limited for $1.5 million. The finalization of the above transaction is subject to receipt of requisite regulatory approval, including without limitation, the approval of the TSX Venture Exchange.

According to a NI43-101 compliant Technical Report dated 2006 and subsequent Summary Report dated 2008, the Carruthers Pass massive sulfide is a volcanogenic massive sulfide located 70 km south of the Kemess copper-gold mine in the Omineca Mining Division. The project consists of 8 claims with 130 units, covering 3,250 hectares more or less.

The project, staked initially based on presence of a large massive sulfide boulder, was bolstered by discovery in 2008 of in-place massive sulfide mineralization in horizons with chip samples reported to contain values as follows:

Sample #Gold g/tSilver g/tCopper (%)Zinc (%)
397101.471716.794.8
397070.1528.35.150.12
397500.0466.94.160.07
397290.0423.62.500.05
397371.2196.32.283.77
397200.0719.51.610.07
397060.1418.60.630.19
397190.082.80.470.01
397091.1217.60.380.32
397120.2150.210.45
397350.5518.90.140.54

Due diligence on the project is estimated to require 30-75 days, depending on access to the property.

The Company's CEO Glen Watson commented, "The Carruthers Pass project constitutes the type of acquisition that will create value for La Quinta and will serve to build on the value base established by our existing projects in the U.S. We look forward to working on yet another exciting project in previously overlooked and undervalued terrain."

The information contained in this news release has been reviewed, approved and deemed relevant by Walter Martin, (President of the Company) C.P.G., a qualified person as defined under National Instrument 43-101.

About La Quinta Resources Corporation

La Quinta is a junior precious metals exploration company actively seeking mineral opportunities for the benefit of our stakeholders. Currently the Company is focused on exploring for gold and silver on its Easter Project and Black Jack properties in Nevada. The Easter Project is underlain by an epithermal quartz-adularia vein stockwork system hosted within Tertiary volcanic rocks of the Caliente Caldron Complex of southeastern Nevada. Numerous drill programs were conducted over the past 27 years by several operators. The resultant 121 holes and five adits were used to outline a 43-101 compliant resource of 2.6 million tons at 1.3 g/t gold (0.038 oz/t) and 14 g/t silver (0.4 oz/t) within an area of gold mineralization with a strike length of at least 6,450 feet (1,966 m) and drill-defined widths up to 90 feet (27.4 m). Significant prior intercepts include up to 0.194 oz. Au / ton over 90 feet (6.6 g/t over 27.4m true thickness) (including 0.549 oz. Au / ton over 15 feet [18.8 g/t over 4.5m]) and 0.084 oz. / ton over 110 feet (including 0.534 oz. Au / ton over 5 feet) [2.88 g/t over 33.5 m w/internal 18.3 g/t in 1.52 m]. The Black Jack property, an early-stage exploration target in NE Nevada, consists of old mine workings that contain silver-gold-base metals veins hosted in Ordovician limestones that overlie nearby Cambrian shale. No resource has been identified on this property.

On behalf of the board

Glen Watson, CEO and Director

La Quinta Resources Corp.

This document includes forward-looking statements. When used in this document, the words "potential", "plan", "could", "estimate", "expect", "intend", "may", "should", and similar expressions are intended to be among the statements that identify forward-looking statements. Although La Quinta believes that their expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements.

SEC 12G file #82-35061

"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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