Alba Mineral Resources Regulatory News (ALBA)

27 Apr 2007 11:07

Alba Mineral Resources PLC27 April 2007 Alba Mineral Resources plc ("Alba" or the "Company") Trading update The Company previously announced on 3 January 2007 that the exploration effortson its existing project portfolio would be within the constraints of thefinancial resources available and that the Company would be seeking to raiseadditional funds to actively pursue and explore these existing projects. The Company wishes to announce that it is continuing to seek additional fundingto pursue these objectives and until this funding is in place the Company will,in the short term, downgrade active fieldwork exploration on the existinglicences and permits, whilst maintaining the portfolio of assets. Alba willcontinue the programme of desktop research, analysis and studies using itsexisting in-house team. A further announcement will be made in due course. ENDS Enquiries Michael Nott, Managing Director Alba Mineral Resources plc Tel: +44 (0) 20 7495 5326 Liam Murray, Nominated Adviser City Financial Associates Tel: +44 (0) 20 7090 7800 Notes to Editors Alba Mineral Resources plc is a committed, technically driven explorer with acommodity focus on uranium, nickel and gold. Alba currently has interests in anumber of well researched properties owned in its own right or in conjunctionwith other parties, primarily in Scotland, Mauritania and Sweden. The Companyalso has gold and base metal interests in Scotland and Ireland. The Company's overall corporate and exploration strategy will continue to be oneof developing a portfolio of well-researched, promising and prospectiveexploration properties that will be pursued further, either in the Company's ownright or in conjunction with other parties. To create value, projects will beeither sold outright (in whole or part), spun off into a separate company, jointventured to include a cash consideration and/or a 'Net Smelter Return' ordeveloped into operating mines. The Company will have a principal focus on theArthrath nickel-copper-platinum group metals project in Scotland, uranium andcopper-gold in Mauritania, and nickel and copper-gold in Sweden. This information is provided by RNS The company news service from the London Stock Exchange