La Quinta Resources Corporation

La Quinta Resources Corporation

August 03, 2006 09:00 ET

La Quinta Resources Corporation: Major Increase in Land Area and Contracts Signed at Orofino Gold Prospect in Mexico

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 3, 2006) - Further to its news release of May 3, 2006, La Quinta Resources (TSX VENTURE:LAQ) is pleased to announce that it has now completed the signing of the formal option documentation to acquire the Orofino and La Perla Properties, totalling 414 Hectares, in the Sonora Gold belt in Mexico. Acting on the recommendation of Marvin A. Mitchell P.Eng. of Mitchell Geologic Services Inc. who carried out the 43-101 review of the La Perla and Orofino for La Quinta, the Company, through its Mexican Subsidiary, Canmex Barite S.A. de C.V., has acquired the exploration rights a further 4,844 Hectares surrounding the Orofino Project area.

The new ground, described as the Sanson Claims, include a large colour anomaly stretching in excess of 2Km off the existing La Perla / Orofino ground onto the Sanson Claims have been, identified as highly prospective by M. Mitchell during his 43-101 inspection of La Perla Properties. In addition the Sanson Claims block includes a number of other discrete showings and also several abandoned gold workings.

As a result of this increase to Project area, the cash payments under the acquisition agreement to the underlying mineral rights holders have been amended from $0.53 million to $1.06 million spread over 5 years. The company is also required to issue one million shares over a five year period. The properties will be subject to a 2% NSR, with a buy-down option for 1% for $1 million.

Glen Watson, Company President, comments that, "Marvin Mitchell P.Eng. returned from Mexico and strongly advised us to pick up the surrounding ground as it is highly prospective and directly abuts our current project. We arranged through our Mexican partners to do this and feel that we have greatly enhanced the Company's land position in a known gold producing area in the Southern Sonora Gold Belt."

MJA Swallow P.Eng. is the qualified person who has reviewed and takes responsibility for this news release.

On Behalf of the board

Glen R. Watson, President 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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