TTM Resources Inc.

TTM Resources Inc.

November 27, 2006 00:15 ET

TTM Resources Acquires 8,410 Acres Molybdenum Prospect

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 27, 2006) - TTM Resources Inc. (the "Company") (TSX VENTURE:TTQ)(FWB:T2U) is pleased to provide its shareholders with the following updates.

TTM Claims

The Company is pleased to announce the purchase and staking of property which consists of 8,410 acres contiguous to BCM Resources Corp.'s (TSX VENTURE:B) ("BCM") Shan Property 20 km northeast of Terrace B.C. The new claims are located directly to the west of BCM and the Company will be watching with interest the results of BCM's current drill program. Currently there are two drills working on the BCM property and a total of 13 holes have been drilled. BCM is eagerly looking forward to their assays and, based on their results, a spring 2007 exploration program will be outlined for the Company's new ground.

Chu Property Update

The Company is pleased to report that it has closed the Chu Molybdenite Property (the "Chu Property") purchase agreement and received TSX Venture Exchange approval on October 25, 2006. All claims will be transferred to the Company and the Company expects to receive drill permits shortly as it has posted the Reclamation Bond requested by Ministry of Energy, Mines and Petroleum. The Company has tendered a drill contract which will be awarded once the permit is received. A total of 15 holes have been applied for and the Company expects to drill three specific holes and assay results will determine subsequent drill programs. Allnorth Consultants Limited and the Company's geologists have agreed on the location of the first three holes.

Deeker Creek

The Company is currently analyzing the results received from the fall exploration program on its Deeker Creek property. A number of samples were taken and analyzed along with the assaying of some of the old drill core to confirm the molybdenum content and grade. The Company's geologists are currently reviewing the data and preparing a program budget to further explore this most promising area and, once complete, the results will be publicized.

AGM Results

The Company is pleased to announce that it has concluded its Annual and Special General Meeting. All resolutions were passed by the Shareholders and Directors elected for the ensuing year include: W.K.Crichy Clarke, Terry Lyons, David McMillan, Charles Ikona, and Richard Jordens. The Company also appointed Smythe Ratcliffe Chartered Accountants as the Auditor for the upcoming year. Special resolutions were approved to remove pre-existing Company provisions and adopt new Articles as defined by the Business Corporations Act of British Columbia. This also increased authorized capitalization to unlimited common shares without par value.

Non Brokered Private Placement of up to CAD$665,000

The Company announces a non-brokered private placement of up to CAD $665,000 for ongoing exploration programs and general working capital. This offering consists of up to 1,200,000 non flow-through units at $0.20 per unit and up to 1,700,000 flow-through units at $0.25 per unit. Each unit consists of one common share and one non-transferable half warrant. Each full warrant entitles the holder to purchase one common share at $0.35 per share for a period of one (1) year from the closing date.

The private placement is subject to exchange and regulatory approval and a finders fee may be payable in accordance with TSX Venture Exchange policy.

Options Cancelled

The Company has notified United Resource Group Inc. ("United") that effective December 31, 2006 TTM intends to cancel 150,000 options issued to United. The option holder has agreed with this strategy as they are no longer influential in the direction of the Company.

The Company will keep its shareholders informed of future developments and of the timing of our drill programs as more information becomes available.


W.K. Crichy Clarke, President & CEO

This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • TTM Resources Inc. - Main
    W.K. Crichy Clarke
    President & CEO
    (604) 685-5851 or Toll Free: 1-888-685-5851
    TTM Resources Inc. - Main
    Tom Brady
    (604) 685-5851 or Toll Free: 1-888-685-5851
    Fax: (604) 685-7349 (FAX)
    Small Cap Invest Ltd. - Europe
    Alexander Friedrich
    49 (0) 69-24 24 93 49 or 49 (0) 12 12 544 71 04 62