Alderan Resources Limited announced the signing of an option agreement with Kennecott Exploration Company (KEX), a Rio Tinto group company, covering the Corbin Wickes copper-gold project in the state of Montana, USA (Project). The Corbin Wickes property is 100% owned by KEX, covers 14.3km2 and consists of 163 unpatented federal mining claims (834 Ha) along with options on three groups of patented claims (32 Ha) and two groups of unpatented claims (563 Ha). Underlying net smelter royalties for the options are 1.0% with caps on four of the options and 2% with a cap on the remaining option.

The Project area lies approximately 50km northeast of Butte which has a long mining history dating back to the 1800s. Copper and molybdenum are currently being mined at Butte by Montana Resources which has produced more than 2.5 billion pounds of copper and 250 million pounds of molybdenum since it commenced mining in 1986.1 There is easy access to Corbin Wickes from either Butte or Helena via Interstate Highway 15. The Corbin-Wickes District has been a focus of mining and exploration activity since the 1860's beginning with initial placer gold mining which evolved into lode silver-lead production from 1864 to about 1950.

The district also produced copper and zinc, all coming from quartz veins similar to those at Butte. Several companies conducted exploration in the 1960s and 1970s including Amax, Exxon, Bear Creek Mining Co, Mineral Exploration Co. (MinEx) and Anaconda.

Amax, Exxon, MinEx, and BCMC drilled several shallow holes across the district testing for porphyry Cu-Mo mineralization and Anaconda drilled a few deeper holes on the west side of the district targeting Butte-style veins. The district lies along a set of prominent northeast trending shears and lineaments within the north-central portion of the Boulder Batholith which control veins, brecciation, alteration and mineralization zones. The Boulder Batholith also hosts the Butte copper deposits to the southwest.

A large roof pendant of younger volcanics covering 11 x 7km occupies the western portion of the district. Multiple phases of intrusive rocks are present ranging from the older Boulder Batholith to younger quartz porphyry and quartz latite porphyry dikes. Local northeast trending quartz latite porphyry dike swarms intrude and extend out from a volcanic vent.