Alhambra Resources Ltd.

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CALGARY, Alberta - Alhambra Resources Ltd. (TSX Venture: ALH) ("Alhambra" or the "Corporation"), an international gold explorer and producer, is pleased to announce the completion of 1,360 square kilometres ("km2") (Phase one) of ground gravity and magnetic surveys and a remote sensing survey over the Dombraly-Shirotnaia gold trend located in the southeastern portion (see News Release dated September 27, 2011) of its 100% owned, 9,800 km2 Uzboy Project area ("Uzboy Project") (see Figure 1). It is anticipated that Phase two, potentially covering the remainder of the Corporation's license area, will commence in 2012.

• The gravity survey covered an area of 1,360 km² and the high resolution magnetic survey covered an area of 1,070 km²,
• The surveys covered a 60 kilometre ("km") strike length of the Dombraly-Shirotnaia gold trend (see Figure 1), and
• An ASTER imagery survey to locate areas of hydrothermal alteration associated with the style of gold mineralization known to occur in the region, as well as prospective tectonic features, was also completed.

Mr. John J. Komarnicki, Alhambra's Chairman and Chief Executive Officer stated, "The recently completed surveys are the first step in evaluating the gold potential of Alhambra's licenses. The exploration results to date from the Dombraly-Shirotnaia gold trend combined with the Uzboy gold trend demonstrates the gold potential of Alhambra's licenses to host large gold deposits. The data from all three surveys is currently being interpreted which is expected to be completed in April. The results of these surveys will be incorporated in our 2012 exploration plans for this area, including drilling."

The objective of these surveys was to gain a better understanding of the structural and alteration signatures for the known zones of gold mineralization and use these to locate new targets for exploration. Figure 1 shows the location and areal extent of the surveys recently completed over the Dombraly-Shirotnaia gold trend.

The magnetic and gravity surveys were conducted along a 1.0 by 0.1 km grid and 1.0 by 1.0 km grid respectively. The surveys were completed by Azimut Energy Services, a leading supplier of geophysical services to the mineral industry in Kazakhstan.

The objective of the ASTER imaging survey was to identify areas of hydrothermal alteration typical of gold mineralization and the structural controls on the alteration including faults and fracture zones.

Elmer B. Stewart, MSc. P. Geol., a technical consultant, is the Corporation's nominated Qualified Person as defined by National Instrument 43-101, and has reviewed the technical information contained in this news release.

Figure 1 - Uzboy Project - Location Map & Pilot Geophysical Survey Area

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.

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.

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.