Alder Closes $3,875,000 Private Placement And Enters Into Definitive Agreement On La Montanita Colombian Gold Property Acquisition

Alder Resources Ltd. has closed its previously announced non-brokered private placement financing (see news in Stockwatch on April 15, 2010). The private placement was oversubscribed such that the company raised a total of $3,875,000 through the issuance of 15.5 million common shares of the company at a price of 25 cents each.

The common shares are subject to a hold period of four months plus one day, which expires on Sept. 7, 2010, pursuant to applicable securities legislation. The company paid finders' fees in the amount of $232,500 in cash and issued 1.25 million share purchase warrants at an exercise price of 25 cents for one year in connection with some of the funds raised by third parties. The company intends to use the net proceeds of the financing to finance the exploration and development of the company's properties and for working capital purposes. The proceeds are expected to aid significantly in increasing the value of the La Montanita gold property near Medellin, Colombia.

The company has entered into a final binding agreement to acquire the property, reflecting terms described in Stockwatch on April 7, 2010. In connection with this purchase the company has received a National Instrument 43-101-compliant technical report by an independent qualified person. Highlights of the report include NI 43-101-compliant sampling of underground Au veins with grades of up to 186.5 grams per tonne gold, 272 grams per tonne silver and 0.93 per cent copper.

Both the placement and the acquisition are subject to regulatory approval.

After taking into consideration this private placement and the acquisition, the company has a total of approximately 39.7 million common shares issued and outstanding.

Will Randall, a director of the company and a qualified person under NI 43-101, has reviewed the scientific and technical information in this press release.