SOURCE: Sarissa Resources, Inc.

May 20, 2008 09:00 ET

Sarissa Announces Release of Independent Report on Nemegosenda Property

BAY CITY, MI--(Marketwire - May 20, 2008) - Sarissa Resources, Inc. (PINKSHEETS: SRSR) announced today that the Company has received the results of an independent geological report on the Nemegosenda property, "Preliminary Analysis and Recommendations for National Instrument 43-101 Compliant Reserve Estimate." The report was commissioned to evaluate the past work done on the property and to recommend a work program to bring the reported reserve estimates up to 43-101 standards.

The Nemegosenda property hosts a historically reported deposit containing 20,000,000 tons of 0.47% Nb2O5 material. The deposit was initially identified through extensive diamond drilling, and a 580-foot adit driven into the ore-body to obtain a bulk sample for metallurgical extraction tests. This report was commissioned to complete an independent review of the historical work done on the property and to assess the compliance with NI 43-101 of Dominion Gulf's historical reserve estimates.

The report concludes that the Nemegosenda property is a property of merit and a work program has been recommended, including diamond drilling, to obtain a 43-101 compliant reserve estimate on the main ore-body in Zone D. A further program is recommended to conduct follow-up exploration in Zones A, B, E, F and G south east of the main deposit to develop reserve estimates on known niobium occurrences in these areas. Additional exploration work will also include analyses for tantalum, rare earth elements ("REE"), and uranium.

The full report may be accessed on the Sarissa website. Excerpted highlights include:

"Of particular note, four core samples from Zone D, the Breccia Complex and Zone G were elevated (up to 0.5%) in rare earth's lanthanum (La), neodymium (Nd), and cerium (Ce). Analyses for uranium and tantalum were not performed in the OGS [Ontario Geological Survey] study."

"The author obtained a copy of the Ontario Department of Mines and Northern Development Mineral Resources Circular 14 entitled "Columbium (Niobium) Deposits in Ontario" by Stewart Ferguson, 1971. The circular reported that approximately 1,000 tons of mineralized material was mined from the D Zone, of which 40 tons were shipped for metallurgical pilot plant testing. The results of the test yielded 90% recovery of niobium."

"The historical work done to date is detailed and of high quality. The mode of emplacement is well understood and the potentially economic D Zone has been well outlined. The detailed work of the OGS in the 1970's and 80's has largely confirmed the interpretations and the historical exploration work of Parsons and the Dominion Gulf Company."

"The D Zone historical reserve estimate of 20,000,000 tonnes grading 0.47% Nb2O5 is within the range currently considered economic in carbonatite-alkalic rock complex literature for commercial production. Tantalum and REE are commonly associated with these niobium occurrences. Therefore the economic potential of the Nemegosenda complex could be substantially greater than what has historically been inferred by the presence of tantalum, REE, and uranium. Also, the East Zone area has good potential to substantially increase the overall reserves of the Sarissa property as described earlier."

Sarissa president, Scott Keevil, commented, "We're obviously extremely pleased with the results. While we knew what we had, it's always nice to get outside, independent verification." The company will be starting a drilling program as soon as feasible, and Mr. Keevil continued, "This will be a very exciting time for us; drilling in the East Zones for lateral and vertical extensions of existing mineralization could add significantly to the property value. Meanwhile, with all the past work and analyses done on the D Zone by Gulf and the OGS, re-drilling that will be a little like shooting fish in a barrel."

Dr. Cam Cheriton (PhD in Economic Geology), a director of Sarissa, is a "qualified person" within the meaning of National Instrument 43-101 and has read and is responsible for the technical information contained in this news release.

The complete report can be accessed directly at http://www.sarissaresources.com/media/hawkins_report.pdf

About Sarissa Resources

Sarissa Resources is an American junior exploration company that identifies and explores mineral properties in North America. Currently, Sarissa has interests in properties with base metal, precious metal, uranium and niobium prospects in Northern Ontario, Canada.

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This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Sarissa Resources, Inc., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.

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