N@N

Allana Resources Inc.: Allana Resources Inc. Engages Investor Relations Group

^{Published on 2009-01-27 04:54:57, Last Modified on 2009-01-27 04:55:51 - Market Wire}
 

TORONTO, ONTARIO--(Marketwire - Jan. 27, 2009) - Allana Resources Inc. (TSX VENTURE:AAA) ("Allana"), is pleased to announce that it has engaged Downshire Capital ("Downshire") to provide business advisory, shareholder information and public relations services effective January 23, 2009.

Downshire Capital Inc. acts in an Investor Relations capacity for a number of public companies in Canada and the United States. The services include road shows, meetings with analysts and media presentations.

In connection with the engagement, Downshire has been granted 500,000 stock options at a price of $0.20. The options shall vest quarterly over a period of two years with the first installment vesting on the date of grant, subject to the four month regulatory hold. The options shall be subject to regulatory approval and shall expire five years from the date of grant.

About Allana Resources Inc.:

Allana is a publicly traded corporation with a focus on the acquisition and development of potash assets internationally and recently optioned a previously explored potash property in Ethiopia with 43-101-compliant inferred resources of over 100 million tonnes. Allana has approximately 49 million shares outstanding and trades on the TSX-Venture exchange under the symbol "AAA".

Cautionary Notes

This press release contains "forward looking information" within the meaning of applicable Canadian securities legislation. Forward looking information includes, without limitation, statements regarding the impact of the appointment on the Company. Generally, forward looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; ability to successfully integrate the purchased properties; foreign operations risks; and other risks of the mining industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

The TSX Venture exchange does not accept responsibility for the adequacy or accuracy of this release.