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Allana Resources Inc.: Allana Resources Inc. Appoints Mr. Rene Bharti to the Board of Directors

^{Published on 2009-08-05 04:46:10, Last Modified on 2009-08-05 04:46:18 - Market Wire}
 

TORONTO, ONTARIO--(Marketwire - Aug. 5, 2009) - Allana Resources Inc. (TSX VENTURE:AAA) ("Allana" or the "Company"), is pleased to announce that Mr. Rene Bharti has joined the Company's Board of Directors effective immediately.

Mr. Bharti is currently the Vice President, Corporate Development of Avion Gold Corporation, a TSX-V listed gold producer with properties in Mali, West Africa. Mr. Bharti has held roles in several public and private companies, including those in the resource, and other sectors. Mr. Bharti holds a Bachelor of Commerce (Honours) degree from Queen's University, Canada. Mr. Bharti's experience in the mining industry in Africa will be important for the company's development of its Ethiopian potash project.

Allana also announces that Mr. David Gower has resigned as a Director of Allana. The Company wishes to thank Mr. Gower for his contribution to Allana and wish him well in his future endeavours.

In addition, Allana announces that it has granted 1,170,000 stock options to various officers, directors and consultants of the Company. The options shall be exercisable for $0.20 and expire on August 5, 2014. The options shall be subject to a four month regulatory hold and regulatory approval.

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 NI 43-101-compliant Inferred Mineral Resource of over 100 million tonnes of potash mineralization (Sylvite and Kainite) with a composite grade of 20.8 % KCl (see News Release Sept. 17, 2008). Allana has approximately 80.2 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.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE