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Abonner La Mancha Resources Inc.

La Mancha Resources Inc.

La Mancha to Acquire Four Gold Mines in Australia, Sudan, and Ivory Coast

Vancouver (ots/PRNewswire)

- TSX Venture Exchange Symbol: LMA
Mr. Walter H. Berukoff, Chairman and CEO of La Mancha Resources
Inc. is pleased to announce that Red Lion Management Ltd. has been
selected by a French energy multinational as the preferred purchaser
of all the assets comprising the vendor's gold business unit. The
Board of Directors of La Mancha has approved an agreement with Red
Lion, a related party, granting La Mancha the right to acquire the
assets on terms to be finalised, which will include payment in common
shares of La Mancha to Red Lion. The gold business being acquired
consists of major interests in four mines: two in Australia, one in
Sudan, and one in Ivory Coast, plus substantial exploration tenements
in all three countries. Attributable gold production exceeded 100,000
oz for both 2004 and 2005. La Mancha will purchase the assets as a
going concern and retain the key management and personnel currently
operating these mines and directing the exploration programs within
the respective countries.
Red Lion and RP Capital Group, Ocean Equities Ltd., and other
members of a banking syndicate are raising in excess of CDN$100
million in a mix of debt and equity financing to provide for the
completion of the transaction.
The agreement is subject to the completion of satisfactory due
diligence, completion of a definitive sale and purchase agreement,
approvals by the boards of directors of vendor and purchaser,
approval by the disinterested shareholders of La Mancha, and
acceptance by regulatory authorities. Because of a confidentiality
agreement, La Mancha is not permitted to provide complete technical
details of the assets at this time. In due course, La Mancha will
provide National Instrument 43-101 compliant information concerning
the technical and financial aspects of the assets, as well as
complete details of the transaction.
On behalf of the board
Ian D. Brown, Chief Financial Officer
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.

Contact:

JJ Jennex, Investor Relations, +1-604-998-1250,
info@lamancharesources.com; D. Saradhi Rajan, RP Capital Group,
+44-207-245-8661, rajan@rpcapitalgroup.com; Guy Wilkes, Ocean
Equities Ltd., +44-207-786-4372, guy.wilkes@oceanequities.co.uk; Red
Lion Management, +1-604-980-4858, info@redlionmgmt.com