Alhambra Resources Ltd. - Officer Resignation

    CALGARY, Oct. 31 /CNW/ - Alhambra Resources Ltd. (TSX-V: ALH) ("Alhambra"
or the "Corporation") announces that effective immediately, Elmer B. Stewart,
the Corporation's President and Chief Operating Officer, has resigned for
personal reasons as an officer of the Corporation.
    Mr. Stewart will continue to be one of Alhambra's Directors and the
Corporation's nominated Qualified Person. In addition, Mr. Stewart will be
retained as a technical consultant to the Corporation and will be focused on
providing exploration and development guidance to the Corporation's 100% owned
Uzboy Project located in north central Kazakhstan.
    Mr. John J. Komarnicki, Chairman of the Board and Chief Executive Officer
of Alhambra will, effective immediately, assume the position of President on
an interim basis.
    "We would like to thank Elmer for his contribution to Alhambra and we
wish him well in his new endeavors. I look forward in continuing to work with
Elmer on our Uzboy Project," stated Mr. Komarnicki.

    About Alhambra

    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 sixth 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

    The TSX Venture Exchange Inc. has neither approved nor disapproved the
    information contained herein.

For further information:

For further information: Ihor P. Wasylkiw, Chief Information Officer,
(403) 508-4953; Jim Clarke, Investor Relations, 1-888-290-1335 (Toll Free)

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