INTERNATIONAL ALLIANCE RESOURCES INC.

International Alliance Resources and Ultra Uranium announced to have entered into an option agreement for Ultra to acquire an 80% interest in two gold properties, located in the Mayo Mining Division, Yukon Territory. The properties, the Anne Mark Gold Project and the Plata North Gold Project, are both located within the Selwyn Basin, and occur within a large regional gold, arsenic and multi-element geochemical anomaly. Alliance has held these properties since the last major work conducted in 1997. Under the terms of the Option Agreement, Ultra can acquire an 80% interest in the two properties by paying $500,000 and issuing a total of three million common shares to Alliance over five years.