TORONTO, ONTARIO--(Marketwire - March 19, 2013) - Alder Resources Ltd. ("Alder" or the "Company") (TSX VENTURE:ALR) announces that Mr. Keith Stein has been appointed to its Board of Directors, effective immediately.
Mr. Stein is currently counsel to Heenan Blaikie. From 1994 to 2008, he was a senior executive with Magna International Inc. reporting to the Chairman, Frank Stronach, and continued to act as a consultant reporting to the Executive Vice-Chairman until November 2010. Prior to becoming a consultant, Mr. Stein was Magna's Senior Vice-President of Corporate Affairs.
In addition to his work as a lawyer, Mr. Stein was a founding director of three capital pool companies listed on the TSX Venture Exchange and is actively involved in the resource sector including oil and gas projects in Western Canada and mineral exploration efforts in South America. Mr. Stein is also one of the founding partners, together with Gene Simmons and Universal Music Canada, of Simmons Records, a music label dedicated to Canadian artists.
Mr. Don Dudek, Chairman of the Board of Directors of Alder, states: "Keith is a personable, high energy individual with great industry and personal contacts. His experience and proactive views will be a great addition to the board. We look forward to working with Keith as we continue to build value for Alder's shareholders."
Alder has granted Mr. Stein 200,000 stock options, which have an exercise price of $0.10 per common share, expire five years from the date hereof and vest in eight equal quarterly installments with the first installment vesting immediately.
About Alder Resources Ltd.
Alder is a resource company focused on the development of gold and base metal projects throughout the Americas. Alder's current high priority Cu-Au-Ag porphyry target is the Rosita project in Nicaragua located 275 kilometres northeast of Managua. The company has current Inferred mineral stock pile resources of 7.95 million tonnes grading 0.62% Cu, 0.46 g/t Au and 9.21 g/t Ag with numerous zones that have good near term potential to add to and enhance these resources. See the technical report entitled "Rosita Cu-Au-Ag Project, RAAN, Nicaragua, NI 43-101 Technical Report on Mineral Resource Estimate of Rosita Stockpiles" effective as of May 8, 2012, which is available under the Company's profile at www.sedar.com. Alder is also highly encouraged by recent trench results that, in conjunction with previous drill results from the Tipispan area, support management's belief of a large, untested, copper-gold-silver porphyry/skarn system locally overlain by a high grade, supergene enriched, oxide blanket.
In August 2011, Alder entered into an option agreement to acquire a 65% interest in the Rosita D concession from Calibre Mining Corp. by issuing 1,000,000 shares and incurring expenditures of $4,000,000 over four years. To date Alder has incurred more than half of the $4,000,000 earn-in obligation.
Alder intends to continue to build its property position with strategic acquisitions.
For additional information, please visit our website at www.alderresources.ca and follow us on Facebook and Twitter: @AlderResources.
Joseph Arengi, M. Sc., P. Geo., President and Chief Executive Officer of Alder and a qualified person as defined by NI 43-101, has reviewed and approved the scientific and technical content of this news release.
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 the impact of the appointment on the Company. 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 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 operations in foreign jurisdictions; ability to successfully integrate the purchased properties; 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.
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Alder Resources Ltd.