Sagittarius Capital Corporation

October 05, 2010 10:27 ET

Sagittarius Announces Alpaca Resources Appoints Rick Cleath as VP Exploration

TORONTO, ONTARIO--(Marketwire - Oct. 5, 2010) - Sagittarius Capital Corporation (TSX VENTURE:SCX.H) ("Sagittarius" or the "Company"), a capital pool company which has entered into an agreement to undertake a Qualifying Transaction with Alpaca Resources Inc. ("Alpaca") (see press release dated September 7, 2010), is pleased to announce that Mr. Rick Cleath has been appointed as Vice President of Exploration of Alpaca.

Mr. Cleath has a B.Sc and M.Sc in geology from South Dakota School of Mines and Technology as well as more than 25 years of experience as a geologist and in managing, organizing, budgeting, planning and executing various mining exploration projects globally. Most recently, Mr. Cleath played an integral role as VP Exploration with U3O8 Corporation ("U3O8"), a Toronto-based exploration company focused on uranium properties in South America. Mr. Cleath built a strong technical team to advance U3O8's exploration in Guyana and played a leading role in the discovery of a promising uranium system in the Kurupung Batholith in Guyana with potentially large deposits.

Prior to his work with U3O8, Mr. Cleath was Vice President, Exploration with Absolut Resources where he negotiated and acquired the Chaparra mesothermal gold vein project in southern Peru and led the acquisition of the advanced-stage Andorinhas high-grade gold project in Brazil.

Mr. Michael Newbury, President and CEO of Alpaca, commented: "We are pleased that Mr. Cleath is joining the Company as Vice President of Exploration. With his extensive experience in exploration management, he will play a key role in the development of our projects."

Completion of the Qualifying Transaction is subject to a number of conditions including, but not limited to, Exchange acceptance and if applicable pursuant to Exchange Requirements, majority of the minority shareholder approval. Where applicable, the Qualifying Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Qualifying Transaction will be completed as proposed, or at all.

Investors are cautioned that, except as disclosed in the filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

About Alpaca

Alpaca Resources Inc. is a Canadian junior exploration company with advanced and early stage copper and gold exploration properties, primarily in the Western United States. Alpaca's copper portfolio consists of the Hill Copper and Troy Ranch projects in Arizona. These projects have had considerable exploration including drilling that has delineated a considerable zone of mineralization. The company is proceeding to prepare a NI 43-101 report that will define the exploration required to delineate a resource. Alpaca's gold portfolio consists of the Iron Butte project in Nevada and the Pataz project in the Peru.

Forward-Looking Statements

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Alpaca., including, but not limited to, the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of exploration results and estimates and that the resource potential will be achieved on exploration projects, currency fluctuations, dependence upon regulatory approvals, and the uncertainty of obtaining additional financing and exploration risk. There is no assurance that the company's exploration projects will add to Alpaca's resource base in the short-term, or at all. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

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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