Alhambra Resources Ltd. Participating in the 2012 PDAC Conference

CALGARY, March 1, 2012 - Alhambra Resources Ltd. (TSX VENTURE: ALH) (PINKSHEETS: AHBRF) (FRANKFURT: A4Y) (“Alhambra“ or the “Corporation“), an international gold explorer and producer, will be participating in the Prospectors and Developers Association of Canada (“PDAC“) 2012 International Convention and trade show being held in Toronto, Ontario, Canada from March 4th to 7th at the Metro Toronto Convention Centre, South Building, Booth No. 2502. The Corporation will also be meeting with institutional and retail investors.

Mr. John J. Komarnicki, Chairman and Chief Executive Officer, Mr. Ihor P. Wasylkiw, Vice President and Chief Information Officer and Mr. Robert M. Rowell, Investor Relations will be in attendance.

The Corporation invites you to review the presentation which will be made to investors. Please visit the Corporation's website at www.alhambraresources.com and from the home page click on “Current Presentations“ to download a copy.


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 project areas, are contained within the Uzboy Project.

A Preliminary Economic Assessment (“PEA“) was completed in late 2009 on one of Alhambra's advanced exploration project areas called the Uzboy gold deposit (“Uzboy“). A Canadian securities' compliant National Instrument (“NI“) 43-101 resource estimate has been calculated for Uzboy and is in the process of being updated as is the PEA. In February 2012, maiden NI 43-101 resource estimates were issued for Alhambra's two other advanced exploration project areas called Dombraly and Shirotnaia. The total reported NI 43-101 resources for Uzboy, Dombraly and Shirotnaia amount to 700,000 ounces (“ozs“) measured, 368,500 ozs indicated and 1,367,700 ozs inferred.

Alhambra is currently producing gold and has 10 years remaining of a 25 year license which is renewable for an additional 20 years and allows the Corporation to explore for all metals including gold, base metals, uranium and molybdenum.

Alhambra common shares trade in Canada on The TSX Venture Exchange under the symbol ALH, in the United States on the Over-The-Counter 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 that Alhambra will be successful in 2012 in updating its current PEA and resource report 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. Such risks and other factors include, among others, statements that Alhambra will be successful in 2012 in updating its current PEA and resource report 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.

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.

Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the Policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this release.



Contact Information

Alhambra Resources Ltd.
Ihor P. Wasylkiw, VP & Chief Information Officer
+1 (403) 508-4953

Alhambra Resources Ltd.
Don D. McKechnie, Vice President Finance and CFO
+ 1 (403) 228-2855
www.alhambraresources.com