Alder Announces Approval of La Montanita Property Acquisition and Commencement of Work Program
June 09 2010 - 4:05PM
Marketwired
Alder Resources Ltd. (TSX VENTURE: ALR) ("Alder" or the "Company")
is pleased to announce that it has received regulatory approval for
the acquisition of an 80% interest in the La Montanita, Colombia,
gold property ("Property") described in the Company's news releases
dated May 18, 2010 and April 7, 2010. A National Instrument 43-101
compliant report on the Property includes sampling of underground
Au veins with grades of up to 186.5 grams per tonne gold, 272 grams
per tonne silver and 0.93 percent copper.
The Company has established contracts with local geologists and
initiated a work program designed to accelerate project development
on the Property. The work program includes, in the following order,
surveying of topography and underground workings within the
mineralized area, soil geochemistry, underground sampling, and
geophysics. Alder plans to use the results of this initial work to
design a drill program and allow efficient use of funds and target
maximization. Management is in negotiations with drill contractors
and expects to secure the necessary rigs shortly.
About Alder Resources
Alder Resources is a Canadian-based company focused on gold. In
addition to recently acquired prospects in Colombia, 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.
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.
Contacts: Alder Resources Ltd. Bruce Ford Director and President
(416) 300-8023 www.alderltd.ca
(TSXV:ALR)
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