Alhambra Not Able to File Its 2013 Audited Financial Statements by April 30, 2014

Alhambra Resources Ltd. (TSX VENTURE:ALH) ("Alhambra" or the "Corporation")
announces that the Corporation will not be able to file its annual audited
financial statements, management's discussion and analysis and CEO and CFO
certificates (collectively, the "2013 Annual Audited Financial Statements") by
the filing deadline of April 30, 2014 as prescribed by National Instrument
51-102 - Continuous Disclosure Obligations ("NI 51-102"). This is due to a
current lack of funds to remunerate the Corporation's auditors.


Don McKechnie, Alhambra's Chief Financial Officer explained, "With the recent
completion of the Global Resources Investment Trust plc ("GRIT") financing (see
news release of March 10, 2014), GRIT is now actively marketing the GRIT shares
on behalf of itself and the other companies that participated in the GRIT
financing. This will enable Alhambra to obtain the funds necessary to deal with
its creditors (including remunerating the Corporation's auditors), resume mining
operations in Kazakhstan and advance it exploration and production development
strategy. We anticipate this process will be successful such that Alhambra can
complete and file its 2013 Annual Audited Financial Statements by the end of
June 2014." 


Until Alhambra completes the filing of the 2013 Annual Audited Financial
Statements, Alhambra will comply with the alternative information guidelines set
out in National Policy 12-203 - Cease Trade Orders for Continuous Disclosure
Defaults for issuers who have failed to comply with a specified continuous
disclosure requirement within the times prescribed by applicable securities
laws. The guidelines, among other things, require Alhambra to issue bi-weekly
default status reports by way of a news release so long as the 2013 Annual
Audited Financial Statements have not been filed. 


Alhambra has made an application to the applicable regulatory authorities for a
management cease trade order ("MCTO"). There is no certainty that such order
will be granted. If a MCTO is granted, the general investing public will still
be able to trade Alhambra listed common shares, however, the Corporation's Chief
Executive Officer, Chief Financial Officer and such other directors, officers
and persons as determined by the applicable regulatory authorities, will not be
able to trade Alhambra shares. If a MCTO is not granted, the applicable
regulatory authorities may issue a cease trade order against Alhambra for
failure to file the 2013 Annual Audited Financial Statements within the
prescribed time period.


ABOUT ALHAMBRA

Alhambra is a Canadian based international exploration and production
corporation producing gold in Kazakhstan. 


Alhambra common shares trade in Canada on The TSX Venture Exchange under the
symbol ALH, in the United States on the Over-The-Counter Pink Sheets Market
under the symbol AHBRF and in Germany on the Frankfurt Open Market under the
symbol A4Y. The Corporation's website can be accessed at
www.alhambraresources.com.


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.


Forward-Looking Statements

Certain statements contained in this release constitute "forward-looking
statements". These statements relate to future events or future performance. The
use of any of the words "could", "intend", "expect", "believe", "will",
"projected", "estimated" and similar expressions and statements relating to
matters that are not historical facts are intended to identify forward-looking
information and are based on the Corporation's current belief or assumptions as
to the outcome and timing of such future events. Actual future results may
differ materially. In particular, this release contains forward-looking
statements relating to the 2013 Annual Audited Financial Statements and the
filing of the 2013 Annual Audited Financial Statements. Various assumptions or
factors are typically applied in drawing conclusions or making the forecasts or
projections set out in forward-looking statements. Those assumptions and factors
are based on information currently available to the Corporation. The material
factors and assumptions with respect to the commencement of the audit of the
2013 Annual Financial Statements and the completion and filing of the 2013
Annual Audited Financial Statements include: the availability of funds to
complete and file the financial statements by the end of June, 2014 and the
auditors not encountering anything out of the ordinary that would cause the
auditors not to be able to complete the audit as anticipated. Risk Factors that
could cause actual results or outcomes to differ materially from the results
expressed or implied by forward-looking statements include, among other things:
general economic and business conditions, and political, social and other risks
inherent in carrying on business in a foreign jurisdiction. Forward-looking
statements contained in this release are made based on Management's beliefs,
estimates and opinions on the date the statements are made and the Corporation
undertakes no obligation to update forward-looking statements and if these
beliefs, estimates and opinions or other circumstances should change, except as
required by applicable law. Because of the risks, uncertainties and assumptions
contained herein, investors should not place undue reliance on forward-looking
statements. The forward-looking statements contained herein are expressly
qualified by this cautionary statement. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Alhambra Resources Ltd.
Ihor P. Wasylkiw
VP & Chief Information Officer
[phone]


Alhambra Resources Ltd.
Don McKechnie
VP Finance & Chief Financial Officer
+ 1 [phone]
www.alhambraresources.com