La Quinta Resources Corporation

La Quinta Resources Corporation

October 17, 2006 09:37 ET

La Quinta Private Placement Amendment

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 17, 2006) - La Quinta Resources Corporation ("LAQ")(the company)(TSX VENTURE:LAQ) is amending, its previously announced private placement(see news release dated Sept 21/06).The company will now raise up to $1,275,000 by way of a non-brokered private placement at a price of $0.40 per unit, subject to the approval of TSX Venture Exchange. This is an increase of $675,000 from the previously announced $600,000 private placement of which the company has received most of the proceeds.

Each unit will consist of one common share and one half warrant. Each full warrant entitles the holder to purchase one additional common share in the company at a price of $0.60 per share for period of six months from the closing of the offering. A finders fee will be payable for part of the proceeds. Proceeds of the private placement will be applied to the due diligence review of the company's recently optioned 7,010 square kilometre gold property in the Democratic Republic of Congo (DRC),for a preliminary evaluation of the companies Mexican properties general working capital.

On Behalf of the board

Malcolm JA Swallow, Chairman and CEO

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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