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February 06, 2016 4:31 PM ET

Metals and Mining

Company Overview of Alder Resources Ltd.

Company Overview

Alder Resources Ltd. acquires, explores for, and develops base and precious metal properties in Latin America and Canada. The company primarily has an option to acquire a 65% interest in the Rosita copper-gold-silver porphyry/skarn project that covers an area of 3,356 hectares located to the northeast of Managua. Alder Resources Ltd. is headquartered in Toronto, Canada. As of July 24, 2015, Alder Resources Ltd. operates as a subsidiary of Midlands Minerals Corporation.

65 Queen Street West

8th Floor

Toronto, ON M5H 2M5




Key Executives for Alder Resources Ltd.

Chairman of The Board, Chief Executive Officer, President and Member of Audit Committee
Age: 55
Chief Financial Officer
Age: 39
Director and Member of Compensation Committee
Age: 40
Director and Member of Compensation Committee
Age: 64
Marketing Director
Compensation as of Fiscal Year 2015.

Alder Resources Ltd. Key Developments

Alder Resources Ltd. Auditor Raises 'Going Concern' Doubt

Alder Resources Ltd. filed its Annual on Jan 26, 2015 for the period ending Sep 30, 2014. In this report its auditor, McGovern, Hurley, Cunningham, LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern.

Alder Resources Ltd., Annual General Meeting, Jul 08, 2015

Alder Resources Ltd., Annual General Meeting, Jul 08, 2015., at 10:00 US Eastern Standard Time. Location: Suite 2400-120 Adelaide Street West. Agenda: To consider audited financial statements as at and for the fiscal year ended September 30, 2014, together with the report of the auditor thereon; to appoint McGovern, Hurley, Cunningham, LLP as auditors of the company and authorize the Board of Directors of the company to fix their remuneration; to consider and approve an updated rolling stock option plan; to consider and elect the directors for the ensuing year; and to transact such further or other business as may properly come before the meeting or any adjournment or postponement thereof.

Alder Resources Ltd. Reports Copper and Gold Metallurgical Recovery Results for Stockpiles and Tailings, Rosita Project, Nicaragua

Alder Resources Ltd. has completed a metallurgical study program on the 8 million tonne inferred mineral resource stockpile and the gold, copper and silver bearing tailings on its Rosita project in Nicaragua. In conjunction with the new metallurgical results, the company has also completed an in-house conceptual production scenario study of a copper only recovery option using a sulfuric acid leach, which indicates that completing a Preliminary Economic Assessment (PEA) is warranted. Subsequent to this study, Alder received additional, highly encouraging, combined gold-copper recovery results, using a cyanide leach. Metallurgical results from tests using cyanide leaching conducted at SGS Lakefield as well as projections for The goal of the metallurgical study was to determine how much of the copper, gold and silver could be recovered from the stockpiles (7.95 million tonnes of inferred resources grading 0.62% Cu, 0.46 g/t Au and 9.21 g/t Ag) and from the tailings (tonnage target of between 1.75 and 2.25 million tonnes grading from 0.14 to 0.30% Cu, 0.52 to 0.57 g/t Au and 6.37 to 12.55 g/t Ag). Metallurgical testing to date focused on the higher grade north stockpile (3.33 million tonnes grading 0.78% Cu, 0.58 g/t Au and 10.3 g/t Au) and a higher grade tailings target area (tonnage target of 400,000 to 500,000 tonnes grading from 0.38 to 0.41% Cu, 0.70 to 1.00 g/t Au and 6.37 to 10.65 g/t Ag). Additional metallurgical testing of the other stockpiles and tailings sections will need to be carried out to both validate and broaden these metallurgical results.

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