CALGARY, Canada, July 4 /PRNewswire/ --     Alhambra Resources Ltd. ("Alhambra" or the "Corporation") announces that 
its Annual and Special Meeting of Shareholders will be held at The Westin 
Calgary, 320 - 4th Avenue S.W., Calgary, Alberta on Tuesday, July 31, 2007 
at 2 p.m. (Calgary time). At the meeting, in addition to the normal business 
of the Corporation, the shareholders will be asked to consider, and if 
thought advisable, approve a reorganization by an arrangement under the 
Business Corporations Act (Alberta) (the "Arrangement") involving Alhambra, 
its Shareholders and a newly incorporated corporation, DOT Resources Ltd. 
("DOT"). As reported in a news release dated June 20, 2007, the Arrangement, 
if completed will have the result of dividing Alhambra's mineral assets 
between two separate publicly traded corporations. Upon implementation of 
the Arrangement, Alhambra will continue to hold and operate its gold
producing assets situated in the Republic of Kazakhstan, while DOT will hold
and conduct exploration activities on Alhambra's Canadian mineral properties,
situated near Kamloops, British Columbia. Details of the Arrangement are 
more fully described in the Information Circular that has been mailed to
shareholders and is available for review on SEDAR at www.sedar.com.

The Corporation also announces that it has restated its financial
statements for the three months ended March 31, 2007 to reflect a
recalculation of stock-based compensation. Originally, stock-based
compensation was calculated to be CDN$718,935 of which CDN$636,241 was 
expensed and CDN$82,694 was capitalized to mining assets. As a result of the 
recalculation, stock-based compensation for the three months ended 
March 31, 2007 has been reduced to CDN$526,211 of which CDN$479,690 has 
been expensed and CDN$46,521 has been capitalized to mining assets. As a 
result of the recalculation, net loss for the three months ended March 31, 
2007 has been reduced to CDN$799,291 compared to an earlier reported loss of 
CDN$955,842. Basic and diluted net loss per share remained unchanged at 
CDN$0.01. The Restated Interim Financial Statements and Amended Management 
and Discussion and Analysis of Financial Condition and Results of 
Operations for the Three Months Ended March 31, 2007 are available on 
SEDAR at www.sedar.com.

About Alhambra

Alhambra is a Canadian based gold exploration and production corporation
engaged in the exploration of and production from its 100% owned Uzboy
Project. Alhambra is currently in its sixth year of operations in the 
Republic of Kazakhstan.

Alhambra common shares trade on The TSX Venture Exchange under the symbol
ALH and in Germany on the Frankfurt Open Market under the symbol A4Y. The
Corporation's website can be accessed at www.alhambraresources.com.

The TSX Venture Exchange Inc. has neither approved nor disapproved the
information contained herein.

This news release contains forward-looking information including but not
limited to comments regarding the timing and content of upcoming work 
programs and potential mineral recovery processes. Forward-looking 
information includes disclosure regarding possible future events, conditions 
or results of operations that is based on assumptions and courses of action, 
and therefore, involves inherent risks and uncertainties. For any 
forward-looking information given, management has assumed that the analytical 
results it has received are reliable and the metallurgical testing 
methodologies applied are consistent with industry standards. Although 
management has a reasonable basis for the conclusions drawn, actual results 
may differ materially from those currently anticipated in such statements. 
For such statements, we claim the safe harbor for future.