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FOR IMMEDIATE RELEASE - October 30, 2008FOR: Alhambra Resources Ltd.
SUBJECT: Alhambra Appeal Leads to a November 17, 2008 Court AdjournmentCALGARY, Alberta - Alhambra Resources Ltd. ("Alhambra" or the "Corporation") announces that thecourt hearing scheduled for October 29, 2008 in Kazakhstan was adjourned to November 17, 2008. Thehearing was to deal with the legal claim filed in Kazakhstan seeking to invalidate the original PartnershipUnit Purchase and Exchange Agreement dated March 21, 2002 (the "Agreement") whereby Alhambrapurchased Saga Creek Gold Company LLP (see Alhambra News Releases dated October 6 and 16, 2008).The hearing was adjourned in response to the appeal filed by Alhambra to dismiss the litigation for lack ofjurisdiction in favor of arbitration in Stockholm, Sweden as provided for under the Agreement. As requiredby Kazakh law, the Corporation"s appeal was transferred to the Civil Case Review Board of the EastKazakhstan Oblast Court (the "Review Board"). The Review Board has set November 14, 2008 as the datewhen it will hear Alhambra"s appeal. If the Corporation"s appeal is successful, it is anticipated that theclaim against Alhambra will not proceed on November 17, 2008.Alhambra disagrees with the claim and continues to take all possible measures to vigorously defend itsposition.
ABOUT ALHAMBRAAlhambra is a Canadian based gold exploration and production corporation engaged in the exploration ofand production from its 100% owned Uzboy Project. Alhambra is currently in its seventh year of operationsin the Republic of Kazakhstan.Alhambra common shares trade on The TSX Venture Exchange under the symbol ALH and in Germany onthe 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 please contact:This news release contains forward - looking information including but not limited to comments regarding the timing andcontent of upcoming work programs and potential mineral recovery processes. Forward - looking information includesdisclosure regarding possible future events, conditions or results of operations that is based on assumptions and courses ofaction, and therefore, involves inherent risks and uncertainties. For any forward looking information given, management hasassumed that the analytical results it has received are reliable and the metallurgical testing methodologies applied areconsistent with industry standards. Although management has a reasonable basis for the conclusions drawn, actual resultsmay differ materially from those currently anticipated in such statements. For such statements, we claim the safe harbor forfuture.
Ihor P. WasylkiwChief Information Officer+1 (403) 508-4953Don McKechnieVice President Finance and CFO+ 1 (888) 522-8285 (Toll Free)NEWS RELEASE