Alhambra Announces its Submission for Further Extension of the Expiry Date of Alhambra Warrants Priced at US$0.45

Feb. 1. Marketwire

Alhambra Announces its Submission for Further Extension of the Expiry Date of Alhambra Warrants Priced at US$0.45Alhambra Resources Ltd., an international gold explorer and producer, announces it has submitted a request for regulatory body approval to further extend the expiry date of certain share purchase warrants of the Corporation having an exercise price of $0.45 per common share (the “Warrants”). The Warrants were issued in August of 2009 as consideration for the extension of the maturity date of certain debentures issued by Alhambra (see News Release dated August 21, 2009) and were originally set to expire on August 11, 2011. The Corporation requested and received approval in August 2011 to extend the original expiry date to December 9, 2011, subject to earlier expiration in certain circumstance (see News Release dated August 4, 2011). Subsequently, the Corporation further requested and received approval in December 2011 to extend the original expiry date to February 8, 2012, subject to earlier expiration in certain circumstance (see News Release dated December 9, 2011).

The Corporation requested the further additional extension to the expiry date to allow it time to obtain the required waiver and approval from the Government of Kazakhstan and the Kazakhstan Ministry of Industry and New Technologies, respectively, for the issuance of the common shares of Alhambra upon exercise of the Warrants. The new Warrant expiry date is the earlier of February 11, 2013 (being 12 months after the amended expiry date of February 8, 2012), or, sixty days after receipt of a waiver of right of first refusal from the Government of Kazakhstan and the receipt of consent of the Kazakhstan Ministry of Industry and New Technologies, in respect of the issuance of common shares upon exercise of Warrants.

Collectively, the Warrant holders hold 2,500,450 Warrants to purchase up to 2,500,450 common shares of the Corporation at a purchase price of $0.45 per Warrant.

ABOUT ALHAMBRA

Alhambra is a Canadian based international exploration and gold production corporation with operations in the Republic of Kazakhstan. Alhambra holds exploration and exploitation rights to a 2.4 million acre (9,800 km2), 100% owned license called the Uzboy Project, located in the Northern Kazakhstan Metallogenic Province which hosts numerous world-class gold deposits. Over 100 mineral targets, including three advanced exploration plays, are contained within the Uzboy Project.

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