PennyStockChaser.com Alerts: Allana Resources Inc - Adds to Advisory Board This Week - More good new

PRLog (Press Release) - Jun 07, 2009 -
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Today’s news alert includes: AAA and EXP

Allana Resources Inc. - Adds to Advisory Board This Week - More good news for this fast moving potash play.

Allana Resources Inc. (http://www.allanaresources.com/) added depth to their management team this week by appointing Stephen P. Halabura, BSc, MSc, PGeo, FEC, to the company's advisory board. Mr. Halabura has over 20 years of potash experience, and is currently the president and chief executive officer of North Rim Exploration Ltd.

Mr. Halabura has been the president, chief executive officer and founder of North Rim since its inception in 1984. North Rim is a geosciences and mining engineering consulting company that provides services in the sectors of potash geology, potash mine engineering and industrial minerals. North Rim has consulted to the potash industry since 1989, and presently includes as its clients BHP Billiton, Potash One Inc., Athabasca Potash Inc., Karnalyte Resources Inc. and other companies active in the sector. Mr. Halabura is also a member of Potash One Inc.'s solution mining leadership team. Mr. Halabura has authored a number of papers concerning the resource geology of Saskatchewan and is the lead author of the well-known paper entitled "An Overview of the Geology of Solution Mining of Potash in Saskatchewan."

The appointment of Mr.Halabura is more good news for AAA. Late last month they closed an oversubscribed financing with some solid demand from large institutional and accredited investors.

Sheldon Inwentash confirmed on May 22, 2009, that he acquired ownership of 3.5 million common shares and 3.5 million common share purchase warrants of Allana Resources Inc. Each warrant entitles the holder thereof to acquire one additional common share at a price of 20 cents until May 22, 2011. In the event that the warrants are fully exercised, these holdings represent approximately 8.4 per cent of the total issued and outstanding common shares of Allana as of May 22, 2009, calculated on a partially diluted basis, assuming the exercise of the warrants only. Mr. Inwentash is the CEO of well known mining finance group Pinetree Capital Inc. (http://www.pinetreecapital.com/).

Allana Resources Inc. has a resource of 100 million tonnes of potash in Ethiopia. The company has seen the stock move from .10 in mid March to .185 on Friday. The company looks well positioned to delivered solid results to shareholders.

With the recent financing and the continuing additions to the management team we expect solid news from Allana Resources Inc.. Once this news comes , we expect that AAA could trade well north of .185 .

Please remember to do your due diligence on AAA.

For more information on AAA, please join us @ www.pennystockchaser.com.

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Forward-Looking Statement: This press release includes "forward-looking statements" within the meaning of the federal securities laws, commonly identified by such terms as "believes," "looking ahead," "anticipates," "estimates" and other terms with similar meaning. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the Company's projections and expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions.