SOURCE: Sarissa Resources, Inc.

March 19, 2008 09:15 ET

Sarissa Resources Agrees to Joint Venture Option on Dead-Moose Lake Property

BAY CITY, MI--(Marketwire - March 19, 2008) - Sarissa Resources, Inc. (PINKSHEETS: SRSR) announced today that the Company has entered into an option agreement with Botanic Oasis International Inc. ("BOII"), a privately held exploration company, whereby BOII has a purchase "earn-in" option to acquire up to a 50% working interest in Sarissa's Dead-Moose Lake Property project in Northern Ontario.

Under the terms of the Agreement, BOII has the option to acquire a 50% working interest in the project in exchange for a non-dilutive 5% of the outstanding shares of BOII common stock and an "earn-in" commitment to spend $250,000 to explore the property over the next 24 months, and a $25,000 cash payment to Sarissa. Sarissa will act as property operator with respect to any monies spent to explore the property under the terms of the option agreement and BOII will be required to reimburse Sarissa for any and all costs incurred, such as administration fees and property and claim maintenance, above and beyond the $250,000 capital commitment by BOII. Exploration expenditures, including the applicable administration fee associated with general property and claim maintenance, will be for a minimum of $5,000 for the first four months. The balance of the exploration expenditures must be incurred by March 30, 2010. A finders fee is payable in conjunction with the transaction.

The Dead-Moose Lake Property was initially staked following the release of the Ontario Geological Survey's Open File Report 6061: "Montreal River Headwater Area Sediment Survey, Northern Ontario: PGE [Platinum Group Elements] Data-Operation Treasure Hunt." An excerpt from the report stated, "The highest Pd [Palladium], second highest Platinum [Pt] [Platinum] and seventh highest Au [Gold] (FA/ICP-MS) value collected in the survey area was obtained from a small lake located near Deadmoose Creek in central Shillington Township." In 2006 Sarissa contracted for a Geotech VTEM (Versatile Time Domain Electromagnetic) airborne geophysical survey to be conducted over the Dead-Moose property. Analysis of magnetic and VTEM data has indicated 5 potential mineral targets, of which 2 VTEM anomalies indicate a potential for Copper [Cu] and Gold [Au], while 2 VTEM and magnetic anomalies indicate a potential for Nickel [Ni], Copper [Cu] and Platinum [Pt] and 1 indicates potential for a Kimberlite/diamond target. There are several other magnetic highs and lows paralleling regional and mineralized structures to the west of the highlighted survey area that also have significant potential.

Sarissa Resources CEO, Scott Keevil, commented, "We are pleased to have consummated an agreement with the principals of Botanic. We feel that this option agreement provides Sarissa with a low risk way to finance the development of the Dead-Moose property. Additionally, because Botanic is currently pursuing a public listing venue for its shares, our share ownership position could provide significant intrinsic value to Sarissa in the near future." He continued, "We are also getting close to finishing the most recent assessment of the Lake Nemegosenda Property and will be updating shareholders on the results of that initiative shortly."

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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