Volta Signs Letter of Intent to Purchase the Advanced Kiaka Gold Project in Burkina Faso From Randgold Resources

TORONTO -

- Volta Will Accelerate Exploration Towards a Development Decision

TSX: VTR

Volta Resources Inc. (”Volta” or the “Company”) (TSX: VTR) announced today that it has signed a Letter of Intent with Randgold Resources (”Randgold”) to purchase a 100% interest in the Kiaka Gold Project in Burkina Faso, subject to a free participating right of 10%, up to a bankable feasibility study (held by a local Burkinabe company), for a combination of cash and shares of Volta.

Kevin Bullock, Volta’s President and CEO, said, “Acquiring Kiaka from Randgold fulfills Volta’s key publicly stated goal to add an advanced gold project in our region to our portfolio that we believe we can fast track towards a development decision. We have evaluated many projects during the past year and believe that Kiaka is the superior project. We are especially pleased that Randgold believes that Volta has the right team to move this project forward and we are delighted to have Randgold as a major shareholder in our company.”

Vic King, Volta’s COO, stated, “We are excited that Kiaka represents an opportunity to provide a multi-million ounce, high tonnage, low strip ratio, deposit within a condensed timeframe. We think this acquisition reflects Volta’s recognized knowledge and expertise in West African projects. We are confident that the aggressive work program we have planned for Kiaka over the next 9 months will deliver significant NI43-101 compliant resources.”

Diamond and RC drilling has been undertaken on the Kiaka Main Zone (KMZ) and the Kiaka Hangingwall South Zone (KHZ). Holes have been drilled at -45 degrees to the southeast and east on sections spaced from 80m to 400m apart.

The KMZ is a 2,800 metre long, steeply dipping, NE striking mineralized dilation structure with numerous intersections exceeding 100m at (greater than)1g/t (see Figures 3 and 4). Significantly, there are discrete higher grade zones within this well mineralized envelope that are associated with more intense deformation and alteration, which suggests good continuity. The KHZ is a 650 meter long N to NE striking mineralized structure, which is generally narrower but higher grade than the KMZ. These two zones are shown in Figure 2 and highlights of the most significant intersection are presented in Table 1. Some of the better intersections are:

172.0 metres (at) 1.32 g/t gold from 46.0 metres depth 122.0 metres (at) 2.00 g/t gold from 147.0 metres depth 82.0 metres (at) 1.55 g/t gold from surface 208.0 metres (at) 1.46 g/t gold from 30.0 metres depth 45.0 metres (at) 2.62 g/t gold from 114.0 metres depth 70.0 metres (at) 1.12 g/t gold from 191.0 metres depth

All analyses undertaken for Randgold were by fire assay on a 50g charge at SGS Laboratories in Ouagadougou or SGS Laboratories at the Morila mine in Mali. Randgold employed a QA/QC procedure that included the insertion of certified standards. Volta has reviewed the QA/QC procedures on site and assessed the resultant data and found the results do conform to industry best practice. Intervals are based on drill hole length and true width is unknown at this time.Intersections are based on a 0.5 g/t Au cut-off with no top cut applied. Internal dilution (less than 0.5 g/t Au) has been carried to a maximum of 5m, except for mineralized intervals of 50m or more where dilution has been carried to 6m (KDH05, KDH11, KDH14, KRC03, KRC06 and KRC07) and to 8m in KDH15. All drilling has been undertaken by Randgold and Volta has not yet undertaken independent check analyses and will do so during the upcoming due diligence phase.

The Kiaka exploration permit covers an area of 244km2 and is located approximately 120 kilometres southeast of the capital, Ouagadougou (see Figure 1.) The permit lies at the intersection of the northeast striking Tenkedougou greenstone belt and the regionally significant north striking Markoye Fault, in whose proximity some of the larger gold resources discovered in Burkina Faso so far, have been discovered. These include Iamgold’s Essakane deposit (5.1 Moz), High River Gold’s Taparko deposit (1.7 Moz), Orezone’s Bombore deposit (2.1 Moz) and Etruscan’s Youga deposit (1.5 Moz).

Randgold have spent in excess of US$6 million undertaking extensive exploration on the permit since 2004, including mapping, ground geophysics, soil sampling, pitting, trenching, RAB drilling, RC drilling and diamond drilling. Table 2 details the pitting, trenching and drilling statistics to date.

TABLE 2: ——————————————- ACTIVITY HOLES METRES ——————————————- Pitting 247 931.5 Trenching 11 2,450.0 RAB Drilling 260 4,401.0 RC Drilling 11 1,125.0 Diamond Drilling 24 7,873.5 ——————————————- TOTAL 553 16,781.0 ——————————————-

Randgold have undertaken petrograhic work to study gold deportment. The gold is located on grain margins and is not occluded within sulphides and is therefore unlikely to be refractory. There are also no preg-robbing components. Some preliminary CIL/bottle roll metallurgical test work was also undertaken. The results indicate encouraging recoveries ranging from 80% to 98%, with the majority of the samples returning (greater than) 90% recovery.

There are other mineralized upside targets identified by soil sampling, pitting and RAB drilling within the immediate proximity of KMZ and KHZ, including the Eastern Target, Western 1 Target, Western 2 Target, Northern Target and the Southern Target (see Figure 5). These have yet to be tested by RC or diamond drilling.

Regionally, there are another 5 prospects including Niaogo-Gozi, Kiaka Dam, Kiaka East, Sondo and Gueka (see Figure 6). They were identified by Randgold using regional and infill soil sampling, followed up by mapping, rock chip sampling, limited trenching and RAB drilling. These prospects lie within analogous mineralized environments to the Kiaka Main area.

The purchase price will consist of cash consideration of CAD$4,000,000 and 20,000,000 common shares of Volta. The aggregate consideration shall be paid and issued, as applicable, over a period of 24 months following the date of closing of the Acquisition as follows: (a) 13,300,000 common shares on the Closing Date; (b) CAD$1,000,000 cash on the date that is 6 months following Closing Date; and (c) CAD$1,000,000 cash and 2,233,333 common shares on the dates that are 12, 18 and 24 months following the Closing Date.

Closing of the transaction is subject to completing a Definitive Agreement within 30 days from the execution of the Letter of Intent during which period Volta will carry out its due diligence. The transaction will also be conditional upon approval by Volta shareholders and receipt of third party consents and regulatory approvals including the approval of the Toronto Stock Exchange.

Under the guidelines of National Instrument 43-101, the qualified person for the Kiaka Gold Project is Mr. Guy Franceschi, Vice President, Exploration for Volta. Mr. Franceschi is a member of the European Federation of Geologists and has reviewed and approved the contents of this news release.

Volta is a mineral exploration company primarily focused on becoming a leader in the identification, acquisition and exploration of gold properties in West Africa. The Company is committed to West African exploration and is Canadian-based with its head office in Toronto, Ontario and operations offices in Accra, Ghana and Ouagadougou, Burkina Faso.

Forward Looking Information Caution:

This press release presents “forward-looking statements” within the meaning of Canadian securities legislation that involve inherent risks and uncertainties. Forward-looking statements include, but are not limited to, statements with respect to the future price of gold and other minerals and metals, the estimation of mineral reserves and resources, the realization of mineral reserve estimates, the capital expenditures, costs and timing of the resources, the realization of mineral reserve estimates, the capital expenditures, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, currency exchange rate fluctuations, requirements for additional capital, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage. Generally, these forward-looking statements can be identified by the use of forward looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Volta to be materially different from those expressed or implied by such forward looking statements, including but not limited to: risks related to international operations, risks related to the integration of acquisitions; risks related to joint venture operations; actual results of current exploration activities; actual results of current or future reclamation activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of gold and other minerals and metals; possible variations in ore reserves, grade or recovery rates; failure of equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; and delays in obtaining governmental approvals or financing or in the completion of development or construction activities. Although the management and officers of Volta believe that the expectations reflected in such forward-looking statements are based upon reasonable assumptions and have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Volta Resources does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.

<< To view Table 1 and Figures 1 through 6 of the Kiaka Gold Project please visit files.newswire.ca/407/Volta_Resrcs_Sept0809.doc >>

For further information: please refer to our website www.Voltaresources.com or contact: Kevin Bullock, P.Eng., President & CEO, Tel: +1-(647)-388-1842, Fax: +1-(416)-867-2298, Email: kbullock@voltaresources.com

Source: Volta Resources Inc.

Contact: Kevin Bullock, P.Eng., President & CEO, Tel: +1-(647)-388-1842, Fax: +1-(416)-867-2298, Email: kbullock at voltaresources.com