Alder Resources Ltd. ("Alder" or the "Company") (TSX VENTURE:ALR) is pleased to
announce that the previously announced drill program has commenced at site with
respect to the La Montanita property located in Colombia. The company has
engaged Energold Drilling Corp. to do a 2,500 meter drill program, which began
on October 6th, 2010. The Company anticipates that assay results will be
available within 45 days. Will Randall, VP Exploration stated, "We are pleased
to announce the commencement of the drill program at La Montanita. Recent and
historical artisanal mining on this property has helped to identify the
potential of this prospect. The drill program, in conjunction with the
geophysical and IP program aims to better quantify this potential resource and
mark the transition from exploration to potential production for Alder
Resources."


The Company also announces that it has entered into a letter agreement (the
"Letter Agreement") to sell its right to earn a 60% interest in its Canadian
Creek mineral property located in the Whitehorse Mining District (the
"Property") to Castillian Resources Corp. ("Castillian"). Alder acquired its
interest in the Property pursuant to an option agreement (the "Option
Agreement") dated June 11, 2009 entered into between Alder and Cariboo Rose
Resources Ltd. (the "Optionor").


In consideration for the acquisition of the right to earn a 60% interest in the
Property, Castillian shall pay Alder an aggregate cash fee of $250,000 and to
issue to Alder that number of common shares of Castillian which in the aggregate
shall equal $1,000,000 over a three (3) year period.


In addition, the parties shall enter into an assignment agreement with the
Optionor in accordance with the terms of the Option Agreement (the "Assignment
Agreement").


Completion of the transaction remains subject to the satisfactory completion of
a 30 day due diligence period, and receipt of all required regulatory and
securities approvals, including the approval of the TSX Venture Exchange, along
with other customary closing conditions.


Rene Bharti, President and CEO states, "The company is excited at the prospect
of being able to focus exclusively on Colombia, while continuing to participate
in the upside of what we feel is a valuable asset in the Yukon."


In addition, the Company announces that Carl Jonsson has resigned from the Board
of Directors of the Company effective September 28, 2010. The Company would like
to thank Mr. Jonsson for his hard efforts with respect to the Company and wish
him all the best on future endeavours. 


About Alder Resources

Alder Resources is a Colombian-based company focused on gold development at its
La Montanita property 40 km northeast of Medellin, as well as accretive
acquisitions in the area. The La Montanita property is approximately 80 km from
Continental Gold's Buritica asset. The Company also holds an option to acquire a
60% interest in Cariboo Rose's Canadian Creek Mineral Property located in the
Whitehorse Mining District of the Yukon Territory, which is 160 km south of
Dawson City, Yukon.


To view the map associated with this release, please visit:
http://media3.marketwire.com/docs/alr-map.pdf.


Cautionary Note Regarding Forward-looking Information 

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


This press release contains "forward-looking information" within the meaning of
applicable Canadian securities legislation. Forward-looking information
includes, without limitation, statements regarding the proposed transaction and
timing with respect to the proposed transaction, the Property, mining in
Colombia, statements with respect to the development potential and timetable of
the property of the Company; the potential to identify mineral resources; the
timing and amount of estimated future exploration, success of mining activities;
and receipt of government approvals. 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 the Company 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 operation in foreign
jurisdictions; ability to successfully integrate the purchased properties;
foreign operations risks; and other risks inherent in the mining industry.
Although the Company 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. The
Company does not undertake to update any forward-looking information, except in
accordance with applicable securities laws.