Alhambra Provides Progress Report on Audit Status

Alhambra Resources Ltd. (TSX VENTURE:ALH) ("Alhambra" or the "Corporation") is
providing this bi-weekly Default Status Report in accordance with National
Policy 12-203 - Cease Trade Orders for Continuous Disclosure Defaults ("NP
12-203"). On April 11, 2014, the Corporation announced (the "Default Notice")
that it expected there would be a delay in filing its 2013 annual audited
financial statements, management's discussion and analysis and CEO and CFO
certificates (collectively, the "2013 Annual Audited Financial Statements")
within the 120 day period prescribed for the filing of such documents for
reasons disclosed within that announcement. 


In accordance with NP 12-203, and as previously announced, the Corporation
applied to the Alberta Securities Commission ("ASC") for a Management Cease
Trade Order ("MCTO") related to the Corporation's common shares to be imposed
against certain Corporation executives instead of a general cease trade order
being imposed against all the securities of the Corporation. On May 2, 2014, the
ASC issued a temporary MCTO. 


Alhambra is currently preparing its 2013 Annual Audited Financial Statements for
audit, and the Corporation expects to file these statements on or before June
30, 2014. Until these statements are filed, Alhambra intends to continue to
satisfy the requirements of Section 4.4 of National Policy 12-203 - Alternative
Information Guidelines ("AIG") by issuing bi-weekly Default Status Reports, each
of which will be issued in the form of a news release. 


Pursuant to the requirements of AIG, the Corporation reports that since the
issuance of the Default Notice, there have not been any material changes to the
information provided therein other than as described herein nor has there been
any failure by the Corporation in fulfilling its stated intentions with respect
to satisfying the AIG. In addition, there has not been any other specified
default by the Corporation under NP 12-203 nor are any anticipated and there is
no other material information concerning the affairs of the Corporation that has
not been generally disclosed. 


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 audit and 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 audit and filing of the 2013 Annual Audited Financial Statements include
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.
Donald D. McKechnie
VP Finance and Chief Financial Officer
+ 1 [phone]
+ 1 [phone] (FAX)