CALGARY, Oct. 6 /CNW/ - Alhambra Resources Ltd. ("Alhambra" or the
"Corporation") announces that on October 3, 2008 it was served with a legal
claim filed in Kazakhstan that seeks to invalidate the original Partnership
Unit Purchase and Exchange Agreement dated March 21, 2002 whereby Alhambra
purchased Saga Creek Gold Company LLP. Alhambra disagrees with the claim,
believes that the 2002 agreement is valid, and intends to take all possible
measures to defend its position. A court hearing is scheduled for October 15,
2008 in Kazakhstan.
Alhambra believes that this claim may be a reaction to the injunction
granted in the Court of Queen's Bench of Alberta dated September 29, 2008
purporting to preclude Alhambra and Saga Creek from dealing with the Kemerkol
License (see Alhambra News Release dated September 30, 2008).
Alhambra is a Canadian based gold exploration and production corporation
engaged in the exploration of and production from its 100% owned Uzboy
Project. Alhambra is currently in its seventh year of operations in the
Republic of Kazakhstan.
Alhambra common shares trade on The TSX Venture Exchange under the symbol
ALH and in Germany on the Frankfurt Open Market under the symbol A4Y. The
Corporation's website can be accessed at www.alhambraresources.com.
The TSX Venture Exchange Inc. has neither approved nor disapproved the
information contained herein.
This news release contains forward - looking information including but
not limited to comments regarding the timing and content of upcoming work
programs and potential mineral recovery processes. Forward - looking
information includes disclosure regarding possible future events, conditions
or results of operations that is based on assumptions and courses of action,
and therefore, involves inherent risks and uncertainties. For any forward
looking information given, management has assumed that the analytical results
it has received are reliable and the metallurgical testing methodologies
applied are consistent with industry standards. Although management has a
reasonable basis for the conclusions drawn, actual results may differ
materially from those currently anticipated in such statements. For such
statements, we claim the safe harbor for future.
For further information:
For further information: Ihor P. Wasylkiw, Chief Information Officer,
(403) 508-4953; John J. Komarnicki, President and CEO, (403) 228-2855; Don
McKechnie, Vice President Finance and CFO, 1 (888) 522-8285 (Toll Free)