ALR

Editors Note: There is a photo associated with this press release. 

Alder Resources Ltd. ("Alder" or the "Company") (TSX VENTURE:ALR) is pleased to
announce the results of an independent National Instrument ("NI")
43-101-compliant inferred resource estimate for the stockpiles at Rosita, the
Company's flagship property in northeast Nicaragua. The resource estimate totals
108.5 million pounds ("lbs.") copper ("Cu"), 118,500 ounces ("ozs") gold ("Au")
and 2.35 million ozs silver ("Ag") contained within 7.95 million tonnes. This
resource is based on a cutoff of 0.15% copper equivalent ("CuEq"), and averages
0.62% Cu, 0.46 g/t Au and 9.21 g/t Ag, for a 1.01% CuEq. Results are summarized
in Table 1 and illustrated in Figure 1. This resource estimate was prepared by
Yungang Wu, Resource Geologist of Toronto-based consulting firm Coffey Mining
Pty. Ltd. ("Coffey") and an independent Qualified Person under NI43-101, and is
based on 17 vertical channel samples and 55 reverse circulation drill holes
completed by Alder over the stockpiles during late-2011 and the first quarter of
2012.




Table 1. Inferred Mineral Resources Estimate as at May 8, 2012              
                                                                            
----------------------------------------------------------------------------
             TONNES   COPPER     GOLD     SILVER     Cu     Au     Ag   CuEq
STOCKPILE      (Mt)   (Mlbs)     (oz)       (oz)    (%)  (g/t)  (g/t)    (%)
----------------------------------------------------------------------------
NORTH          3.33    56.99   62,100  1,100,900   0.78   0.58   10.3   1.25
----------------------------------------------------------------------------
SOUTH          2.20    16.16   34,700    360,000   0.33   0.49    5.1   0.69
----------------------------------------------------------------------------
NE             0.55     6.06    3,800    168,300   0.50   0.22    9.6   0.75
----------------------------------------------------------------------------
EAST           1.88    29.33   17,900    725,100   0.71   0.30   12.0   1.03
----------------------------------------------------------------------------
TOTALS         7.95   108.54  118,500  2,354,300   0.62   0.46    9.2   1.01
----------------------------------------------------------------------------
CuEq = Cu% + Au g/t x (0.6033) + Ag g/t x (0.012) and US$2.90/lb Cu,        
US$1200/oz Au and US$24/oz Ag.                                              



Notes on Mineral Resource Estimation



1.  The mineral resource estimate base case is reported at a 0.15% copper
    equivalent cut-off grade; this cut-off incorporates consideration of
    mining and processing cost, recoveries, commodity prices and selling
    cost. 
2.  The mineral resource estimate is reported on an undiluted basis. 
3.  The mineral resource estimate assumes a long term copper price of
    US$2.90/lb, a gold price of US$1,200/oz and a silver price of US$24/oz. 
4.  Rounding as required by NI 43-101 reporting guidelines may result in
    apparent summation differences between tonnes, grade and contained metal
    content. 
5.  Tonnage and grade measurements are in metric units. Contained gold and
    silver ounces are reported as troy ounces, contained copper pounds as
    imperial pounds. 
6.  Mineral resources that are not mineral reserves do not have demonstrated
    economic viability. The estimate of mineral resources may be materially
    affected by environmental, permitting, legal, title, taxation,
    sociopolitical, marketing, or other relevant issues. 
7.  The quantity and grade of reported inferred mineral resources in this
    estimation are uncertain in nature and there has been insufficient
    exploration to define these inferred mineral resources as indicated or
    measured mineral resources and it is uncertain if further exploration
    will result in upgrading them to indicated or measured mineral
    resources. 



The stockpiles were generated from open pit mining operations carried out over a
17 year period from 1959 to 1975 from two open pits: Santa Rita and R-13. A
total of 5.4 million tonnes averaging 2.06% Cu, 0.93 g/t Au and 15.08 g/t Ag
were mined. Mill recovery during the early years reportedly varied from 60% to
80%, depending on the type of material processed.


Coffey has estimated the Inferred resource presented here can be converted to an
Indicated Resource by drilling approximately 20 to 25 infill reverse circulation
drill holes over the stockpiles, on a 50 metre by 50 metre grid to a minimum
depth of 25 metres on each.


Joe Arengi, Alder's President and CEO, stated "These results represent a
milestone achievement for Alder at its Rosita project. This resource is right at
surface, and contains a reasonably good grade that adds considerable value to
the Company for its shareholders, serving as a solid foundation on which to
build. Going forward we believe that we can add to this tonnage with an in situ
resource in the vicinity of the two open pits. It also appears that there is an
excellent chance that Alder can develop a mineral resource in the Rosita
tailings, where detailed grid sampling was recently completed. An on-going
IP-resistivity survey continues to develop intriguing anomalies suggestive of
porphyry-type Cu-Au targets at the Bambana prospect, which is located four
kilometers northwest of the Santa Rita open pit and near Rosita, that will be
drill tested in the coming months".


The Rosita Project

The Rosita project is located seven kilometres north of the Primavera prospect,
where Calibre Mining Corp. ("Calibre") and B2Gold Corp. announced the discovery
of significant porphyry style Au-Cu mineralization, including 261.7 metres
grading 0.78 g/t Au and 0.30% Cu in a diamond drill hole (Calibre news release
dated January 20, 2012). In a news release dated March 1, 2012 Alder reported
results of porphyry-style mineralization that included 3.32% Cu, 0.22 g/t Au and
37.55 g/t Ag over 12.0 metres in a trench located in the Bambana area, 4
kilometres northwest of the Santa Rita pit and one kilometre southwest of two
historic holes from 2010 that returned 0.43% Cu and 7.56 g/t Ag over 48.0
metres, and 0.51% Cu, 0.25 g/t Au and 10.41 g/t Ag over 11.5 metres that had
intersected a similarly mineralized and altered intrusive rock.


A detailed 100 metre by 100 metre grid sampling program on the mine tailings has
been completed and results are expected within the next few weeks. Bedrock
mineralization continues to be tested with core drilling in the vicinity of the
Santa Rita and R-13 pits with 13 holes totaling 4,152 metres completed to date.
In addition, an IP-resistivity geophysical survey is ongoing that has already
delineated several distinct chargeability anomalies, with 42.8 line-kilometres
completed, representing approximately 60% of the proposed program. Chargeability
anomalies are inferred to represent areas of disseminated sulphide
mineralization that could represent porphyry-type exploration targets. Ground
truthing, geologic-alteration mapping and trenching are planned for several of
the anomalies that are interpreted to be robust and near-surface. Deeper targets
will be selectively drill tested.


Quality Assurance/Quality Control

Samples were collected into heavy gauge plastic bags, sealed on-site, then
stored at Alder's secure Rosita field office until transported by company
personnel to Inspectorate Exploration and Mining Services' sample preparation
facility in Managua. At this Managua facility, sample pulps are prepared, then
air freighted to Inspectorate's Vancouver laboratory for analysis. Each sample
is analyzed for total copper using aqua regia digestion followed by an ICP
analysis, which includes a 30-element geochemistry package, including silver.
Soluble copper is determined for samples grading over 0.1% Cu, using dilute
sulfuric acid digestion with an AA (atomic absorption) finish. Gold is
determined via fire assay with an AA finish. Alder has implemented an industry
standard Quality Assurance/Quality Control program that includes the insertion
of certified standards, duplicates and blanks into the sample stream.


Qualified Persons

John C. Spurney, Certified Professional Geologist (CPG-11007), Vice President
Exploration for Alder and a qualified person as defined by NI 43-101, has
reviewed and approved the scientific and technical content of this news release.


Yungang Wu, Resource Geologist of Toronto-based consulting firm Coffey Mining
Pty. Ltd. and an independent Qualified Person under NI 43-101 has prepared and
authorized the release of the mineral resource estimate presented herein.


A NI 43-101 report providing details of this mineral resource estimate will be
filed on SEDAR under the profile of the Company within 45 days.


About Alder Resources Ltd.

Alder is a natural resource company focused on the development of gold and base
metal projects throughout Latin America. The company's current focus is on the
Rosita skarn-porphyry project in Nicaragua located 275 km northeast of Managua.


Alder Resources Ltd.

Joseph Arengi, President & CEO

Cautionary Note Regarding Forward-looking Information

This press release contains "forward-looking information" within the meaning of
applicable Canadian securities legislation. Forward-looking information
includes, without limitation, statements regarding potential mineralization,
reserve and resource determination, exploration results and future plans.
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 Alder, as the case may be, 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 Alder 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. Alder does not undertake to update any
forward-looking information, except in accordance with applicable securities
laws.


To view the photo associated with this press release, please visit the following
link: http://www.marketwire.com/library/20120509-aldermap800.jpg.

(TSXV:ALR)
Historical Stock Chart
From Jun 2024 to Jul 2024

(TSXV:ALR)
Historical Stock Chart
From Jul 2023 to Jul 2024