Issue of Equity

Alba Mineral Resources PLC
09 November 2007

ALBA MINERAL RESOURCES PLC ('ALBA' or the 'Company')

Issue of Equity

The Board of Alba announce that it has issued and allotted, credited as fully
paid 2,700,000 new ordinary shares in the Company at a price of 1.6 pence per
share to raise £43,200 (the 'Placing').  The proceeds of the Placing will
provide additional working capital for the Company.

The new ordinary shares will rank pari passu with the existing ordinary shares. 
Dealings in the new ordinary shares are expected to commence on AIM at 8:00 a.m.
on 15 November 2007.

Further details of the Placing are set out below:-

Placee                               Number of Alba     Number of Alba     Percentage
                                     shares issued and  Shares held        interest in the
                                     allotted pursuant  subsequent to the  enlarged issued
                                     to the Placing     Placing            share capital of
                                                                           Alba subsequent to
                                                                           the Placing




Andes Energia Plc ('Andes')*         2,700,000          2,700,000          3.6%


* Nigel Duxbury, a director of Alba, is also a director of Andes Energia Plc

TRANSACTION WITH SUBSTANTIAL SHAREHOLDER

Prior to this transaction Andes Energia Plc has an interest in 8,404,762
Ordinary representing approximately 12.6 per cent. of the Existing Ordinary
Shares. As Andes has an interest in more than 10 per cent. of the Existing
Ordinary Shares, Andes is deemed to be Substantial Shareholders as defined by
the AIM Rules.

Andes has subscribed for 2,700,000 new Ordinary Shares under the Placing.

The issue of shares to a Substantial Shareholder constitutes a Related Party
Transaction for the purposes of AIM Rule 13.

The Directors consider, having consulted with the Company's Nominated Adviser,
that the terms of the related party transaction with Andes are fair and
reasonable insofar as the Company's shareholders are concerned.

Following the issue of equity, Andes will be interested in 11,104,762 ordinary
shares representing approximately 14.7 per cent. of issued share capital of the
Company.


TOTAL VOTING RIGHTS

Following the issue of equity and in conformity with the Financial Services
Authority's Disclosure and Transparency Rules, the Company gives notice that its
voting capital consists of:

Ordinary Shares           Nominal Value             £                         Ordinary Shares held in
                                                                              Treasury


75,570,100                1p                        755,701                   -

As Alba does not hold any ordinary shares in Treasury its total number of voting
rights equals its capital.

The above figure may be used by shareholders as the denominator for the
calculations by which they will determine if they are required to notify their
interest in, or a change to their interest in, Alba under the FSA's Disclosure
and Transparency Rules.


Enquiries:



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



Liam Murray, Nominated Adviser                     Tel:  [phone]
City Financial Associates Limited




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