Assays From Nemegosenda Adit Confirm Presence of Niobium, Tantalum and Rare Earth Element Mineralization: Financial News

Assays From Nemegosenda Adit Confirm Presence of Niobium, Tantalum and Rare Earth Element Mineralization
Monday July 21, 2008 10:06 am ET

BAY CITY, MI--(MARKET WIRE)--Jul 21, 2008 -- Sarissa Resources, Inc. ("the Company") (Other OTC:SRSR.PK - News) is pleased to announce the assay results from chip samples taken from the adit into the main D Zone deposit carried out in June, 2008, on its 100% owned Nemegosenda carbonatite project located in Northern Ontario. The results from all 15 samples taken and assayed confirm the presence of niobium mineralization, tantalum mineralization and rare earth elements ("REE") mineralization within the deposit. The samples were taken over a 300-foot length of the adit, beginning at the face.

Highlights include: niobium (Nb) concentrations of up to 5820 ppm; tantalum (Ta) concentrations of up to 193 ppm; and in the REE's, Neodymium (Nd) concentrations of up to 184 ppm. While the niobium values returned, (equivalent Nb2O5 average of 0.52% over 15 samples), were as expected based on historical work, the samples provided confirmation of the presence of tantalum, uranium, and REE mineralization within the D Zone. The assay results are summarized in the following table.

 
          Summary Table of June 2008 Adit Samples from "D" Zone.

Analyte
 Symbol     Nb   Nb2O5   Nb2O5%   Ta    Ta2O5   Nb:Ta   Total   Th     U
         ------ -------- -----  ------- ------                ------ ------
Unit Symbol ppm                     ppm         Ratio    Rare    ppm    ppm
Detection
 Limit        1                     0.1                Earths    0.1    0.1
Analysis
 Method  FUS-MS                  FUS-MS                   ppm FUS-MS FUS-MS
         ------ -------- -----  ------- ------ ------ ------- ------ ------
1          3670     5252 0.525%     157    192  23.38  456.00    186    139
         ------ -------- -----  ------- ------ ------ ------- ------ ------
2          2800     4007 0.401%     153    187  18.30  313.09    124    110
         ------ -------- -----  ------- ------ ------ ------- ------ ------
3          2480    3549  0.355%     137    167  18.10  366.26    143   90.3
         ------ -------- -----  ------- ------ ------ ------- ------ ------
4          3590    5137  0.514%     134    164  26.79  357.28    151    102
         ------ -------- -----  ------- ------ ------ ------- ------ ------
5          2380    3406  0.341%     137    167  17.37  361.18    114   72.5
         ------ -------- -----  ------- ------ ------ ------- ------ ------
6          4910    7026  0.703%     167    204  29.40  275.21    251    158
         ------ -------- -----  ------- ------ ------ ------- ------ ------
7          4170    5967  0.597%     141    172  29.57  550.98    244    132
         ------ -------- -----  ------- ------ ------ ------- ------ ------
8          1500    2147  0.215%    71.1     87  21.10 1083.84    107   63.7
         ------ -------- -----  ------- ------ ------ ------- ------ ------
9A         2360    3377  0.338%     132    161  17.88  419.59    103   73.7
         ------ -------- -----  ------- ------ ------ ------- ------ ------
10         5820    8328  0.833%     168    205  34.64  344.36    374    166
         ------ -------- -----  ------- ------ ------ ------- ------ ------
11         4620    6611  0.661%     193    236  23.94  330.16    403    170
         ------ -------- -----  ------- ------ ------ ------- ------ ------
12         3930    5624  0.562%     161    197  24.41  314.92    347    143
         ------ -------- -----  ------- ------ ------ ------- ------ ------
13         4040    5781  0.578%     161    197  25.09  229.36    251    177
         ------ -------- -----  ------- ------ ------ ------- ------ ------
14         5110    7312  0.731%     166    203  30.78  276.82    380    146
         ------ -------- -----  ------- ------ ------ ------- ------ ------
15         2710     3878 0.388%     151    184  17.95  157.77    158   95.2
         ------ -------- -----  ------- ------ ------ ------- ------ ------
          54090    77403 7.740%  2229.1   2722 358.71 5836.82   3336 1838.4
         ------ -------- -----  ------- ------ ------ ------- ------ ------
Averages   3606 5160.186 0.516% 148.607    181  23.91  389.12  222.4 122.56
         ------ -------- -----  ------- ------ ------ ------- ------ ------
Nb2O5%
 Average                  0.52%
                         =====          ------
Ta2O5%
 Average                                0.0181%
                                        ------
Nb:Ta
 Ratio    24.27
         ------

Note: 1,000 ppm is equivalent to 1 Kg. per tonne; 10,000 ppm is equivalent
to 1%.

The samples were assayed at Activation Laboratories Ltd. in Ancaster, Ontario. Full analytical details of the samples are posted on the Sarissa website here (http://www.sarissaresources.com/media/june_adit_sample_assays.pdf). Sarissa's initial report from May, 2008 which summarizes some of the historical exploration done on the property may also be accessed on the website, or by clicking here (http://www.sarissaresources.com/media/hawkins_report.pdf).

Follow-up work will include diamond drilling in the D Zone for grade and tonnage calculations; and further sampling in the East Zone where historical trench samples reported anomalous mineralization (non NI 43-101 compliant): "This 'jacupirangite' horizon contains niobium mineralization throughout most of its length; in one trench (88-3, Figure 7C) a continuous exposure, 14.3 m in length, grading 1.85% Nb2O5 was intersected. Mineralization within this zone was also intersected in trenches 88-4, 88-5 and drill hole 55-13." (Report on the Geology and NB, Y, REE Potential of the East Zone, Nemegosenda Lake Alkaline Complex: Beaty Geological Ltd, Vancouver BC, May 1988, p. 28)

Warren Hawkins, P.Eng, a geological consultant to the Company is a "qualified person" within the meaning of National Instrument 43-101 and has reviewed the technical information contained in this news release.

About the Nemegosenda Carbonatite Property:

The property is located about 30 kilometres northeast of Chapleau, Ontario, via Highway 101. Dominion Gulf conducted historical exploration on the property in the late 1950's and early 1960's, estimating the reserves (non NI 43-101 compliant) of the main niobium zone D at 20,000,000 tons of 0.47% Nb2O5 in a block 600 by 800 feet with depths of up to 600 feet. The fieldwork and interpretations of Dominion Gulf were confirmed by the work of the Ontario Geological Survey in their report, "Geology of Carbonatite - Alkalic Rock Complexes in Ontario: Nemegosenda Lake Alkalic Rock Complex - District of Sudbury, 1987." The property also includes known occurrences of niobium and rare earth mineralization in the East Zones

About Sarissa Resources

Sarissa Resources is a growth-oriented, multi-commodity mineral exploration and development company with interests in properties with base metal, precious metal, uranium, niobium and rare-earth prospects in Northern Ontario, Canada.

For further information please visit our website: www.sarissaresources.com

These reported resources are historical in nature and, therefore, not compliant with National Instrument 43-101 reporting standards; however they are considered material to the prospectivity of the Nemegosenda Project. A "qualified person," as defined under NI-43-101, has not done sufficient work to comment on the relevance or reliability of these historical estimates. The company is not treating the historical estimates as, nor can the historical estimates be relied upon as, current mineral resources or reserves. This property requires further evaluation, which Sarissa's management and consultants intend to carry out in due course.

Safe Harbor

This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Sarissa Resources, Inc., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.