Final Results

Alba Mineral Resources PLC
12 April 2006

                              Alba Mineral Resources Plc

               Preliminary results for the period ended 30 November 2005

                                 CHAIRMAN'S STATEMENT



The results for Alba Mineral Resources plc (the 'Company', and collectively with
the Subsidiary Company, the 'Group') cover the period from 12 November 2004, the
date of incorporation, to 30 November 2005. They incorporate the results of its
only subsidiary, Aurum Mineral Resources Limited (the 'Subsidiary Company'),
which is wholly owned.

INTRODUCTION



The Company acquired the Subsidiary Company on 4 March 2005. The Subsidiary
Company holds or has applied for exclusive rights to explore a portfolio of
mineral exploration properties, primarily gold and nickel exploration projects
in Scotland and Ireland, which are at different stages of development from
conceptual exploration targets to more advanced drill ready projects.



The Company was admitted to the AIM market on 4 April 2005 after successfully
raising £1,050,000 (before expenses) to finance the exploration of its existing
gold, nickel and base metal projects and to investigate, acquire and advance
further exploration properties, as identified elsewhere.



On 23 September 2005 the Company placed 1,250,000 ordinary shares of 1 pence
each at 8 pence per share with Altius Minerals Corporation ('Altius'). The gross
proceeds of the placing were £100,000. The Group has entered into an agreement
with Altius to use the proceeds of the placing for exploration activities in
certain areas in Norway, Sweden and Finland.

REVIEW OF ACTIVITIES



The Board has been actively exploring and enhancing its understanding of the
Group's nickel-copper-PGE and gold licences which it holds in Scotland and
Ireland.



The Group's activities have principally been focused on its nickel-copper-PGE
prospect in Scotland where orientation geochemical and geophysical sampling
programmes and verification drilling have been undertaken. The drilling results
from this project have been highly encouraging and clearly demonstrate the size
of the mineralizing system and highlight the potential for higher grades within
the large, poorly explored area over which the Group has an interest. The Board
believes that this project has now sufficiently progressed to enable it to
examine and evaluate the various options available to it to pursue further
detailed exploration.



The Group has also undertaken initial exploration activities at its Bohaun,
Lough Gowna and North Limerick properties in Ireland. Positive initial
exploration results from a rock sampling programme confirmed Bohaun as a
prospective gold target with high-grade potential. The Group intends to conduct
detailed infill sampling, soil sampling and prospecting to further assess this
exciting project. Work programmes at Lough Gowna and North Limerick are ongoing
and the Group looks forward to reporting the results of these activities in due
course.



As referred to above the Group has entered into an agreement with Altius to
conduct exploration activities in certain areas in Norway, Sweden and Finland.
Regional target generation has commenced identifying priority areas for detailed
exploration.



OUTLOOK



The Group is a committed junior explorer developing a diversified exploration
portfolio focused on the Appalachian-Caledonide trend, a zone extending from the
eastern seaboard of North America to Scandinavia. The Group's overall corporate
and exploration strategy is to develop a series of well-researched and promising
exploration properties which will be pursued further, either in the Group's own
right or in conjunction with other parties.



Whilst our principal objective, in the immediate future, is to further advance
our nickel-copper-PGE prospect in Scotland, we are also aware that there are
potential opportunities in base and precious metals elsewhere. We will continue
to evaluate such projects, adding them to our portfolio where appropriate,
whilst at the same time looking to advance the development of our existing
projects.





Lance O'Neill
Chairman
11 April 2006



                       CONSOLIDATED PROFIT AND LOSS ACCOUNT

                      FOR THE PERIOD ENDED 30 NOVEMBER 2005


                                                                                               2005
                                                                                                  £
Turnover from continuing operations                                                               -

Cost of sales                                                                                     -

Gross profit                                                                                      -
Administrative expenses
           Acquisitions                                                   (94,647)
           Other continuing operations                                   (118,798)
                                                                                          (213,445)
Operating loss
           Acquisitions                                                   (94,647)
           Other continuing operations                                   (118,798)
Operating loss                                                                            (213,445)

Interest receivable and investment income                                                    20,269

Loss on ordinary activities before taxation                                               (193,176)
Tax on loss on ordinary activities                                                                -

Retained loss on ordinary activities after taxation                                       (193,176)

Loss per ordinary 1p share
           Basic                                                                         0.47 pence
           Diluted                                                                       0.47 pence




                             CONSOLIDATED BALANCE SHEET

                                 30 NOVEMBER 2005


                                                                                               2005
                                                                                                  £
Fixed assets
Intangible fixed assets                                                                     454,077
Tangible fixed assets                                                                           630

                                                                                            454,707
Current assets
Debtors                                                                                      63,076
Cash at bank and in hand                                                                    653,764
                                                                                            716,840

Creditors: Amounts falling due within one year                                            (187,219)

Net current assets                                                                          529,621


Total assets less current liabilities                                                       984,328

Capital and reserves
Called up share capital                                                                     603,126
Share premium account                                                                       374,887
Profit and loss account                                                                   (193,176)
Merger reserve                                                                              200,000
Foreign exchange revaluation reserve                                                          (509)

Equity shareholders' funds                                                                  984,328




                       CONSOLIDATED CASH FLOW STATEMENT


                     FOR THE PERIOD ENDED 30 NOVEMBER 2005


                                                                                                  2005
                                                                                                     £
Net cash outflow from operating activities                                                    (54,893)

Returns on investments
Interest received                                                                               20,269

                                                                                                20,269

Taxation
UK corporation tax                                                                                   -

                                                                                                     -

Capital expenditure
Payments for intangible assets                                                               (235,365)
Purchase of tangible fixed assets                                                                (708)

                                                                                             (236,073)

Acquisitions
Net overdrafts acquired with subsidiary undertakings                                           (3,552)

                                                                                               (3,552)

Financing
Issue of ordinary share capital net of costs                                                   928,013

                                                                                               928,013


Increase in cash in the period                                                                 653,764




NOTES



1.   Basis of preparation


The financial information set out above does not constitute the Group's
statutory accounts within the meaning of section 240 of the Companies Act 1985.
The balance sheet at 30 November 2005 and the profit and loss account and cash
flow statement for the period then ended have been extracted from the Group's
audited financial statements. The auditors report on those financial statements
 is unqualified  and does not contain statements under s.237(2) or (3) Companies
Act 1985.These financial statements will be delivered to the Registrar of
Companies and shareholders in due course.

2.   Taxation

No charge for corporation tax for the period has been made due to the expected
tax losses available.

3.   Loss per share

Basic loss per share is calculated by dividing the loss attributed to ordinary
shareholders of £193,176 by the weighted average number of shares of 40,700,500
in issue since admission to AIM.  The diluted loss per share calculation is
identical to that used for basic loss per share as the exercise of warrants
would have the effect of reducing the loss per ordinary share and is therefore
not dilutive under the terms of Financial Reporting Standard 14 'Earnings per
Share'.



Enquiries:


Lance O'Neill, Alba Mineral Resources Plc                                020 7499 8334
Nigel Duxbury, Alba Mineral Resources Plc                                020 7499 8334
Liam Murray, City Financial Associates Limited                           020 7090 7800




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