Suite #330, 700 - 6th Avenue S.W.

Calgary, Alberta, Canada T2P 0T8
Telephone (403) 228-2855 Fax: (403) 228-2865

FOR IMMEDIATE RELEASE - October 30, 2008
FOR: Alhambra Resources Ltd.

SUBJECT: Alhambra Appeal Leads to a November 17, 2008 Court Adjournment
CALGARY, Alberta - Alhambra Resources Ltd.

("Alhambra" or the "Corporation") announces that the
court hearing scheduled for October 29, 2008 in Kazakhstan was adjourned to November 17, 2008.

The
hearing was to deal with the legal claim filed in Kazakhstan seeking to invalidate the original Partnership
Unit Purchase and Exchange Agreement dated March 21, 2002 (the "Agreement") whereby Alhambra
purchased 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 of
jurisdiction in favor of arbitration in Stockholm, Sweden as provided for under the Agreement.

As required
by Kazakh law, the Corporation"s appeal was transferred to the Civil Case Review Board of the East
Kazakhstan Oblast Court (the "Review Board").

The Review Board has set November 14, 2008 as the date
when it will hear Alhambra"s appeal.

If the Corporation"s appeal is successful, it is anticipated that the
claim against Alhambra will not proceed on November 17, 2008.
Alhambra disagrees with the claim and continues to take all possible measures to vigorously defend its
position.

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 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.
For further information please contact:
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.

Ihor P.

Wasylkiw
Chief Information Officer
+1 (403) 508-4953
Don McKechnie
Vice President Finance and CFO
+ 1 (888) 522-8285 (Toll Free)
NEWS RELEASE