Alder Resources Ltd. ("Alder") (TSX VENTURE:ALR) is pleased to
announce that it has filed a National Instrument 43-101 ("NI
43-101") Technical Report for its Rosita project located in
northeast Nicaragua.
The independent technical report, entitled "Rosita Cu-Au-Ag
Project, RAAN, Nicaragua-NI-43101 Technical Report on Mineral
Resource Estimate of Rosita Stockpiles" (the "Technical Report")
and dated May 8, 2012 was prepared for Alder by Yugang Wu of Coffey
Mining Pty Ltd. The Technical Report is available under Alder's
profile on SEDAR at www.sedar.com and on the Company's website at
www.alderresources.ca.
Mineral Resource Estimates
As reported in the news release issued by Alder on May 9, 2012,
the inferred resource estimate totals 7.95 million tonnes, at an
average grade of 0.62% copper ("Cu"), 0.46 grams per tonne ("g/t")
gold ("Au") and 9.2 g/t silver ("Ag") with an overall copper
equivalent grade of 1.01%. The inferred mineral resource contains
108 million pounds of Cu, 118,500 ounces of Au and 2.35 million
ounces of Ag.
Inferred Mineral Resources Estimate as at May 8, 2012
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TONNES COPPER GOLD SILVER Cu Au Ag CuEq
STOCKPILE (Mt) (Mlbs) (oz) (oz) (%) (g/t) (g/t) (%)
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NORTH 3.33 56.99 62,100 1,100,900 0.78 0.58 10.3 1.25
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SOUTH 2.20 16.16 34,700 360,000 0.33 0.49 5.1 0.69
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NE 0.55 6.06 3,800 168,300 0.50 0.22 9.6 0.75
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EAST 1.88 29.33 17,900 725,100 0.71 0.30 12.0 1.03
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TOTALS 7.95 108.54 118,500 2,354,300 0.62 0.46 9.2 1.01
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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 Rosita Project
Alder has entered into an option agreement with Calibre Mining
Corp. to acquire a 65% interest in the Rosita D concession (see
news release dated August 22, 2011), which hosts the historic Santa
Rita open pit Cu-Au-Ag deposit. Alder's management believes that a
substantial amount of mineralization lies both below and adjacent
to the Santa Rita pit. Recent drill results (see news release dated
May 31, 2012) returned 0.20% Cu, 1.48 g/t Au and 2.00 g/t Ag over
65.0 metres in a hole collared along the southwest edge of the
Santa Rita pit.
The Bambana prospect, located four kilometres northwest of the
Santa Rita open pit, returned historic intercepts of up to 0.43% Cu
and 6.54 g/t Ag over 42.0 metres and 0.51% Cu, 0.25 g/t Au and
10.41 g/t Ag over 11.5 metres in two diamond drill holes completed
in 2010. Recent channel sampling across the full width of two
benches from an open pit along the side of a small hill, returned
two wide intercepts of 2.09% Cu, 0.19 g/t Au and 14.6 g/t Ag over
29.0 meters in the upper bench, and 1.98% Cu, 0.14 g/t Au and 14.4
g/t Ag over 29.0 metres in the lower bench. These results
complement those from a nearby trench excavated by Alder (see news
release dated March 1, 2012) that returned 3.32% Cu, 0.22g/t Au and
37.55 g/t Ag over 12.0 meters.
To date a total of 5,200 metres have been drilled in 16 holes,
all in the Santa Rita/R-13 area. This initial drilling program is
centered on the historic Santa Rita and R-13 pits, where
approximately 5.5 million tonnes of ore averaging 2.06% Cu, 0.93
g/t Au, and 15 g/t Ag were extracted by La Luz Mines (a subsidiary
of Falconbridge) in the mid-1970s when low metal prices forced mine
closure. An additional 3,000 metres are planned at Bambana and
other targets generated during the exploration program. The initial
results have successfully identified a significant mineralized
corridor that displays two styles of mineralization and is open in
all directions. Any Cu-Au-Ag mineralization defined along this
corridor will complement the existing stockpile resource and
bolster project economics.
Alder now has four significant target areas, three of them with
porphyry-style attributes, within the Rosita concession block that
reinforce the company's goal of developing an economic mineral
deposit at Rosita.
Quality Assurance/Quality Control
Samples were collected in heavy gage plastic bags, sealed
on-site, then stored at Alder's secure Rosita field office until
transported by Company personnel to Inspectorate Exploration and
Mining Service's 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 Cu 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 Person
John C. Spurney, a Certified Professional Geologist (CPG-11007),
Alder's Vice-President Exploration and 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.
About Alder Resources Ltd.
Alder is a resource company focused on the development of gold
and base metal projects throughout Latin America. Current focus is
on the Rosita project in Nicaragua located 275 kilometers northeast
of Managua. Alder intends to build its property position with
strategic acquisitions.
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 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.
NEITHER 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. Joseph Arengi President & CEO
416-309-4296info@alderresources.ca www.alderresources.ca