Mr. Kursat Kacira reports

ALTAI ANNOUNCES INITIATION OF STRATEGIC REVIEW

Altai Resources Inc.'s board of directors has initiated a strategic review process to identify, evaluate and pursue a range of potential strategic alternatives with the goal of maximizing shareholder value and liquidity. As part of the strategic review, the potential strategic alternatives could include, amongst other things, either individually or in combination, the sale of part or all of the assets of the company, the sale of the company, a merger or other business combination with another party, a special cash distribution, a wind-up, or any other strategic transaction.

Kursat Kacira, Altai's chairman and chief executive officer/president and the company's largest shareholder, with a combined direct and indirect ownership of 10,726,157 common shares, representing approximately 19.1 per cent of the total issued and outstanding common shares of the company, will lead the strategic review.

The company has not established a definitive timeline to complete the strategic review or any transaction, and no decisions have been reached at this time. As such, the process is subject to unknown variables, including the costs, structure, terms, timing and outcome. There can be no assurance that the strategic review will result in any transaction or initiative or, if a transaction or initiative is undertaken, as to the terms or timing of such a transaction or initiative and its impact on the financial condition, liquidity and results of operations of the company. The company does not intend to disclose further developments in connection with the strategic review until it is determined that disclosure is appropriate or necessary.

About Altai Resources Inc.

Altai Resources is a resource company based in Toronto, Ont., with a producing oil property in Alberta, an exploration gold property in Quebec, and a Canadian investment portfolio comprising cash, cash equivalents and marketable securities.