SBL

The Board of Directors of the Company has today granted stock options to directors, officers, employees and consultants to purchase 1,875,000 common shares of the Company, exercisable for up to five years at a price of $0.75 per share, which price exceeds the last closing price of the Company's shares prior to the date of grant. The options granted will vest immediately and will be subject to any applicable regulatory hold periods.

The Company is engaged in the business of mineral exploration in Peru and Ecuador. The Company's two principal gold properties are the Sancos Project and the Antalla Project, both located in Peru.

ON BEHALF OF THE BOARD

Christoph Lassl, President and Chief Executive Officer

Address: Edificio In-Luxor - Oficina 102, Camilo Destruge N24-633 y Francisco Salazar, P.O. Box 17-07-9719, Quito, Ecuador

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: Santa Barbara Resources Limited Christoph Lassl President and Chief Executive Officer 593-2-2904164 593-2-2556204 (FAX) christoph@santabarbara.com.ec www.sbr-ltd.com

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