Alhambra Resources Ltd. (TSX VENTURE:ALH) ("Alhambra" or the "Corporation"), an
international gold producer and explorer, announces assay results for 46 diamond
drill holes ("DDH") completed at its 100% owned advanced exploration drilling
target at the Shirotnaia project area ("Shirotnaia"). Diamond drilling has
expanded the dimensions of the area hosting the currently known zones of gold
mineralization to 1,800 metres ("m") by 750 m, and remains open in three
directions and depth. This drilling program will be entered into the data bases
and included in an independent National Instrument ("NI") 43-101 resource
estimate being generated.


Shirotnaia is located within Alhambra's 100% owned Uzboy Project in Kazakhstan
(see location map, Figure 1) and is immediately adjacent to the world-class Aksu
and Quartzite Hills gold deposits currently being mined by KazakhGold Group
Limited ("KazakhGold").


HIGHLIGHTS



--  136 mineralized intervals (of variable widths) with gold grades of
   greater than 0.2 grams per tonne gold ("g/t Au") were intersected in 42
    of 46 holes drilled, 
--  65 mineralized intervals (of variable widths) had an average gold grade
    of greater than or equal to 1.0 g/t Au (see Figure 2), 
--  High grade mineralization intersected during the program included: 17.15
    g/t Au over 3.0 m, 4.83 g/t Au over 9.0 m and 4.15 g/t Au over 7.0 m, 
--  Drill results demonstrated that higher-grade intercepts are distributed
    consistently along the main structure indicating a very large area of
    mineralization has been discovered, 
--  The area of gold mineralization outlined by diamond drilling has been
    extended approximately 600 m to the NE and 200 m to the SW covering an
    area that measures 1,800 m by 750 m which is open to the NE, SW along
    strike as well as to the N. 



Mr. John J. Komarnicki, Alhambra's Chairman and Chief Executive Officer stated,
"We are very excited with the drill results being released today as they have
not only intersected many higher-grade intervals of gold mineralization, but
have also expanded the known area of gold mineralization. Shirotnaia is one of
our priority exploration targets and will continue to be so in 2012. These
positive results are now being incorporated into a National Instrument 43-101
resource estimate which is expected in the first quarter of 2012." 


DRILLING PROGRAM SUMMARY

The diamond drilling program consisted of 49 holes totaling 6,833.8 m. The
average depth of the holes was 139 m. Of the 49 holes completed, assay results
for 46 holes totaling 6,344.4 m have been received and are being reported (see
Table 1 and Figure 2). The drill samples of the remaining 3 holes have yet to be
exported for assaying.


The objective of the recent drilling program was to drill test the strike and
dip extent of the recently interpreted higher grade zones (see News Releases
dated March 10, 2010 and April 28, 2011) of gold mineralization as indicated by
rotary air-blast ("RAB"), hydro-core lift ("KGK") and reverse circulation ("RC")
drilling.


Numerous mineralized intervals of oxide, transitional and sulphide gold
mineralization were encountered by previous diamond drilling programs. The 2011
core drilling program has demonstrated the continuity of the mineralization and
has better defined the shape of the mineralized zones. The area of gold
mineralization has been extended approximately 600 m to the NE and 200 m to the
SW toward Zone 3 that was discovered in 2007. 


The five most explored zones of gold mineralization at Shirotnaia are summarized
below. 


Zone #1 (Main Zone)

This zone of gold mineralization that has been outlined by 2007 core drilling
was extended approximately 200 m along strike to the SW, in the direction of the
Western Zone (Zone #3). The best mineralized interval from the 2011 drilling
program in this zone was in DDH 03-02 that returned 28.00 m @ 1.19 g/t Au
(including 3.00 m @ 5.24 g/t Au) and 13.00 m @ 2.33 g/t Au (including 7.00 m @
4.11 g/t Au). 


Zone #2 (Southern Zone)

This zone of mineralization was originally discovered by RAB and KGK drilling
and was intersected in DDH 32-02. This zone has been extended 120 m along strike
and 55 m along dip. At depth, this zone splits into two wider zones. DDH 28-07
intersected mineralized intervals of 31.50 m @ 1.35 g/t Au (including 12.60 m @
2.77 g/t Au) and 20.40 m @ 1.02 g/t Au. Taking into consideration the positive
geological features logged in DDH 44-01 and DDH 52-03 (being intensive
hydrothermal alteration including silicification and presence of pyrite together
with disseminated galena), the strike length of this zone could reach at least
350 m, remaining open to the SW.


Zone #3 (Western Zone)

This zone was intersected by the 2007 diamond drilling program. If further
drilling demonstrates that the gold mineralization continues between the Western
Zone and the Main Zone (Zone #1) which has already been expanded by 200 m in
this direction, the Shirotnaia mineralized area will reach the total size of
2,600 m by 750 m thereby increasing the area of known mineralization by 44%. 


Zone #4 (Northern Zone)

This zone of mineralization was discovered by previous trenching and RAB and KGK
drill programs. In 2010, low grade gold mineralization was intersected in DDH
72-01 and DDH 100-01. The 2011 drill program established that the higher-grade
part of the zone ran at least 500 m along strike and 75 m down dip having a
width of 4.0 m to 18.0 m. DDH 96-01 demonstrates that the zone becomes wider at
depth. The two best mineralized intervals in this hole are 18.00 m @ 1.10 g/t Au
and 8.00 m @ 2.01 g/t Au. The mineralization continues to the NE as a set of
low-grade zones of gold mineralization with narrower higher-grade zones (2.0 m @
1.63 g/t Au in hole DDH 128-02). The northern flank of this zone remains
underexplored.


Zone #5 (Central Zone)

This zone was originally discovered by previous trenching and RAB drill
programs. In 2010, DDH 100-02 intersected higher-grade mineralization at depth
(36.0 m @ 4.32 g/t Au). The 2011 drill program has proven that the length of the
higher-grade part of the zone is approximately 550 m along strike and at least
115 m down dip. Its width varies from 3.0 m to 14.0 m. This mineralization zone
consists of at least two segments and its higher-grade part becomes wider at
depth. The zone returned several higher-grade intercepts the best of which are
14.00 m @ 1.10 g/t Au in DDH 52-02, 9.00 m @ 4.83 g/t Au in DDH 80-03 and 7.00 m
@ 4.15 g/t Au in DDH 96-03. Similar to Zone #4, Zone #5 continues to the NE as
low-grade gold mineralization that contains narrow (1.0 m to 3.0 m wide) but
higher-grade (up to 1.29 g/t Au) gold mineralization another 550 m to the E and
remains open in this direction. 


Alhambra anticipated that a follow-up RC and deeper core drilling program will
be conducted to help further define the exact pattern and parameters of gold
mineralization at Shirotnaia. 


SHIROTNAIA REGIONAL SETTING

Shirotnaia is located within Alhambra's 9,800 square kilometre ("km2") mineral
license located within that part of the Central Asia-Chinese Altayshan Gold Belt
that crosses northern Kazakhstan. On the eastern side of Alhambra's license, the
Corporation controls at least 50 kilometres ("kms") of an emerging gold trend
that extends from North Balusty to the south; where it crosses the southern
border of Alhambra's license. The multi-million ounce Aksu and Quartzite Hills
gold deposits held by KazakhGold Group Limited are located approximately 3 kms
southeast of Alhambra's Shirotnaia project area. Inside this trend, Alhambra
controls the North Balusty, Dombraly, Kerbay and Shirotnaia zones of gold
mineralization (see Figure 3 and previous news releases). 


DRILLING AND SAMPLING PROCEDURES 

For the core drilling, an NQ diamond drilling core barrel was utilized and
average core recovery was 99%. The core was split by the drilling contractor
under the supervision of the Corporation's geologists with one half used for
sampling and another half left for references. Every meter of core was sampled
and the exact borders of the sampling interval were determined according to the
lithological contacts. The average sample weight was 2 kilograms. 


Sample preparation was completed by Stewart Assay and Environmental Laboratories
located in Kyrgyzstan using the following procedure: samples were crushed to
minus 2 mm, mixed and split into two 200 gram sub-samples. One sub-sample was
pulverized to - 200 mesh and the other sub-sample was retained for reference
purposes. A 30 gram sample of the -200 mesh material was used for fire assay
atomic absorption finish. Stewart Assay and Environmental Laboratories is
independent of Alhambra and does have an International Standard Organization
("ISO") 17025 accreditation.


QUALITY ASSSURANCE QUALITY CONTROL 

The Kyrgyzstan Stewart Assay and Environmental Laboratories, as a part of the
worldwide ALS Group, have stringent quality assurance and quality control
("QA/QC") procedures. Alhambra also follows a rigorous QA/QC program consisting
of inserting standards, blanks and duplicates into the sample stream submitted
to the laboratory for analysis to ensure that the sampling and analysis of all
samples is conducted in accordance with the best possible practices.


Elmer B. Stewart, MSc. P. Geol., a technical consultant, is the Corporation's
nominated Qualified Person. Mr. Stewart has reviewed but not confirmed the
technical information contained in this news release. 


ABOUT ALHAMBRA

Alhambra is a Canadian based international exploration and gold production
corporation celebrating its eighth year of 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.


Alhambra common shares trade in Canada on The TSX Venture Exchange under the
symbol ALH, in the United States on the Over-The-Counter Pink Sheets Market
under the symbol AHBRF and in Germany on the Frankfurt Open Market under the
symbol A4Y. The Corporation's website can be accessed at
www.alhambraresources.com.  


Forward-Looking Statements

Certain statements contained in this news release constitute "forward-looking
statements" as such term is used in applicable Canadian and US securities laws.
These statements relate to analyses and other information that are based on
forecasts of future results, estimates of amounts not yet determinable and
assumptions of management. In particular, statements concerning the completion
of an independent initial NI 43-101 compliant resource report, the anticipated
2012 exploration drilling program, and other factors and events described in
this news release should be viewed as forward-looking statements to the extent
that they involve estimates thereof. Any statements that express or involve
discussions with respect to predictions, expectations, beliefs, plans,
projections, objectives, assumptions or future events or performance (often, but
not always, using words or phrases such as "expects" or "does not expect", "is
expected", "anticipates" or "does not anticipate", "plans, "estimates" or
"intends", or stating that certain actions, events or results "may", "could",
"would", "might" or "will" be taken, occur or be achieved) are not statements of
historical fact and should be viewed as "forward-looking statements". Such
forward looking statements involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or achievements of
the Corporation to be materially different from any future results, performance
or achievements expressed or implied by such forward-looking statements. There
can be no assurance that additional drilling programs will either located
additional gold mineralization or expand the size of the known zones of gold
mineralization. Such risks and other factors include, among others, generating
an independent NI 43-101 technical report on mineral resources, finalizing the
anticipated 2012 exploration drilling program, securing the availability of
capital to fund exploration; political, social and other risks inherent in
carrying on business in a foreign jurisdiction and such other business risks as
discussed herein and other publicly filed disclosure documents. Although the
Corporation has attempted to identify important factors that could cause actual
actions, events or results to differ materially from those described in
forward-looking statements, there may be other factors that cause actions,
events or results not to be as anticipated, estimated or intended. There can be
no assurance that such statements will prove to be accurate as actual results
and future events could vary or differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking statements contained in this news release.

Forward looking statements are made based on management's beliefs, estimates and
opinions on the date the statements are made and the Corporation undertakes no
obligation to update forward-looking statements and if these beliefs, estimates
and opinions or other circumstances should change, except as required by
applicable law. 


This news release contains forward-looking statements based on assumptions,
uncertainties and management's best estimates of future events. When used
herein, words such as "intended" and similar expressions are intended to
identify forward-looking statements. Forward-looking statements are based on
assumptions by and information available to the Corporation. Investors are
cautioned that such forward-looking statements involve risks and uncertainties.
Actual results may differ materially from those currently anticipated. The
forward-looking statements contained herein are expressly qualified by this
cautionary statement. 


To view Table 1 and Figures 1-3, please visit the following link:
http://media3.marketwire.com/docs/1214alh.pdf.
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