Investment

Alba Mineral Resources PLC
15 November 2006



Alba Mineral Resources plc ('Alba' or 'the Company')

Strategic Investment in Uranium Exploration in Mauritania


Alba Mineral Resources plc, the UK based exploration company with a diversified
commodities portfolio, has a strategic investment in a uranium exploration
venture through a 50 per cent. holding in a private mineral exploration company,
Mauritania Ventures Limited (MVL).


Alba is pleased to announce that MVL, which was established to investigate the
uranium potential of north-eastern Mauritania in North West Africa, has recently
been awarded two uranium exploration permits with an additional four uranium
exploration permits pending. Work programmes have commenced and field programmes
are scheduled for January 2007.


Highlights

•  The permit areas are contained within a zone considered highly prospective 
   for unconformity-type uranium mineralization analogous to that found in the 
   Athabasca Basin region of Western Canada.

•  Airborne geophysics (radiometrics) flown on behalf of the Mauritanian 
   Government reveals radiometric anomalies coincident with target rock horizons
   within MVL's area of focus.

•  Airborne radiometrics have proven to be a successful exploration technique in 
   Eastern Niger where anomalies are associated with all known uranium deposits 
   in the area of the Arlit and Akouta uranium deposits, some 1300 miles east of 
   MVL's current activity.


Michael Nott, Managing Director, Alba Mineral Resources commented, 'This
investment is undoubtedly an important and exciting opportunity for the Company
to assess, cost-effectively, the uranium potential in Mauritania and comes as a
result of a positive interaction between Alba's innovative technical team and
our new partners logistical and corporate experience in Mauritania.


The investment gives our shareholders exposure to an exciting commodity in a
geologically diverse and highly prospective country. Our involvement in
Mauritania follows our overall corporate strategy which is to develop a series
of well researched and promising exploration properties either in the Company's
own right or in conjunction with other parties and we look forward to reporting
the results of our exploration activity in due course.'


Granting of Exploration Permits


The Minister of Mines has awarded two uranium exploration permits (311 and 312)
to MVL covering an area of 2,972 square kilometers.  A further four uranium
exploration permits (totaling 5,988 km2) have been applied for together with two
gold and base-metals exploration permits within the same target area (totaling
2,992 km(2)).


A work programme has commenced with database construction and detailed target
generation studies using remote sensing (Landsat and ASTER).  A field sampling
programme is planned for the first quarter of 2007.


ENDS

For further information contact:

Michael Nott, Managing Director
Alba Mineral Resources plc             Tel: [phone]

Victoria Thomas
Parkgreen Communications.               Tel: [phone]

Liam Murray
City Financial Associates               Tel: [phone]


Notes to Editors

Alba Mineral Resources plc is a committed explorer with a diversified
commodities portfolio, primarily nickel, gold, copper, cobalt, uranium and
platinum group metals, focussed on the Appalachian-Caledonide trend, a zone
extending from the eastern seaboard of North America to Scandinavia. Alba
currently has interests in a number of well researched properties in Scotland,
Ireland, Mauritania and Sweden, owned in its own right or in conjunction with
other parties.



Geology and Mineral Potential of the Permits



The permits are considered by the Company to be highly prospective for hosting
unconformity-type uranium mineralization, analogous to that seen in the
Athabasca region of Canada. The permits awarded cover significant areas of an
unconformable contact between early Proterozoic reworked granitic terrane and
overlying sediments of late Proterozoic to Carboniferous age.

Airborne geophysics flown on behalf of the Mauritanian Government indicates
radiometric anomalies within organic-rich units near the base of these
sedimentary sequences, coincident with large, deep-penetrating crustal shear
structures.  Uranium mineralization is known to the north and northwest of the
permit area, and is hosted in granites and rhyolites cut by these shear
structures. Airborne radiometrics has been shown to be an effective technique in
uranium exploration in Niger where radiometric anomalies are associated with all
known uranium deposits in the area surrounding the Arlit and Akouta uranium
mines in the east of the country. Niger, some 1300miles east of MVL's current
exploration activity, is the world's third largest producer of uranium after
Canada and Australia.


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