ALR

Alder Resources Ltd. (the "Company") (TSX VENTURE:ALR) announces that it has
entered into a Letter of Intent to acquire an 80% interest in the La Montanita
Gold Project (the "Project") in Colombia. Pursuant to the letter of intent, the
Company will acquire an 80% interest in the properties that comprise the Project
in consideration for the issuance to the vendors of 5,000,000 common shares of
the Company and expending a minimum of $1,000,000 in respect of the exploration
and further development of the Project within two years following the date of
the definitive agreement. 


The Project is situated in an area with a reported 100 year history of gold
mining. It is located in western Colombia approximately 220 kilometers from the
Pacific Coast and 40 km from the city of Medellin. 


The Project encompasses approximately 1,000 hectares, including a 30 hectare
mineralized mountain that the Company understands has been the subject of
artisanal gold mining for over 80 years. Historic mining consisted primarily of
underground tunneling that followed reportedly high grade sub-vertical
structures varying in width from 20 to 60 centimetres. Current production at the
Project continues on an artisanal basis targeting a high grade NE trending vein.


The Company intends to analyze the potential for a bulk tonnage open pit mine at
the Project based on an understanding that the high grade veins at the Project
appear to be part of a larger stock work, with four prominent fracture
orientations within a granodiorite host rock. The Project does not currently
host estimated mineral resources that are compliant with National Instrument
43-101 ("NI 43-101") and it is uncertain if exploration activities will result
in the delineation of a mineral resource. Management believes the host rock,
scope and mineralization style are comparable to the nearby Gramalote deposit,
also located within the same batholith. The Gramalote deposit is held by a joint
venture between Anglogold-Ashanti and B2Gold Inc. and hosts a NI 43-101
compliant estimated inferred mineral resource of 74.4 million tonnes at an
average grade of 1.00 g/t gold for a total of approximately 2.4 million ounces
of gold. The Gramalote property is less than 40 km from the La Montanita
Project.


The agreement is subject to the completion of legal due diligence by the
Company, verification of titles to the properties, negotiation and execution of
a definitive agreement, and approval of the TSX Venture Exchange. The Company
notes that the proposed transaction will not result in any new insiders of the
Company, as none of the vendors will hold more than 10% of the outstanding
common shares of the Company following completion of the transaction.


About Alder Resources

Alder Resources is a Canadian-based company focused on gold. The Company holds
an option to acquire a 60% interest in Cariboo Rose's Canadian Creek Mineral
Property located in the Whitehorse Mining District of the Yukon Territory, which
is 160 km south of Dawson City, Yukon. The property is also 50 km southeast of
the White Gold project owned by Underworld Resources Inc. and approximately 25
km southeast of Kaminak Gold Corp.'s Coffee property. The Canadian Creek claims
cover an area of approximately 4,800 hectares.


Regulatory Notes

Will Randall, a Director of the Company and a qualified person under NI 43-101,
has reviewed the scientific and technical information in this press release. 


This press release contains "forward-looking information" within the meaning of
applicable Canadian securities legislation. Forward-looking information
includes, without limitation, statements regarding the completion of the
acquisition, the prospective nature of the Project and the impact of the
acquisition on the Company; statements with respect to the development potential
and timetable of the Project; the potential to identify mineral resources on the
Project; the timing and amount of estimated future exploration, success of
mining activities; and receipt of government approvals. Generally,
forward-looking information can be identified by the use of forward-looking
terminology such as "plans", "expects" or "does not expect", "is expected",
"budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or variations of such words and phrases or
state that certain actions, events or results "may", "could", "would", "might"
or "will be taken", "occur" or "be achieved". Forward-looking information is
subject to known and unknown risks, uncertainties and other factors that may
cause the actual results, level of activity, performance or achievements of the
Company to be materially different from those expressed or implied by such
forward-looking information, including but not limited to: general business,
economic, competitive, geopolitical and social uncertainties; the actual results
of current exploration activities; risks associated with operation in foreign
jurisdictions; ability to successfully integrate the purchased properties;
foreign operations risks; and other risks inherent in the mining industry.
Although the Company has attempted to identify important factors that could
cause actual results to differ materially from those contained in
forward-looking information, there may be other factors that cause results not
to be as anticipated, estimated or intended. There can be no assurance that such
information will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking information. The
Company does not undertake to update any forward-looking information, except in
accordance with applicable securities laws.

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