Commentary

Ahhh...sweet sweet vindication. Looks like today's news gives us an official 4 to 5 week time frame to wait for the first independent survey to be done on the Lake Nemegosenda property. This is obviously a good thing, but above and beyond the Niobium, the Company has now made mention of potential tanalum and uranium ore on the property....

Now its just a waiting game: Jackpot or Bust?

Press Release

Sarissa Orders Preliminary Independent Geological Assessment Report on Lake Nemegosenda Property

BAY CITY, MI -- (MARKET WIRE) -- 02/20/08 -- Sarissa Resources, Inc. (PINKSHEETS: SRSR) Sarissa is pleased to announce the Company has engaged the services of Hawk Exploration Consultants, an independent and highly regarded Toronto-based geological consulting firm to conduct a preliminary assessment report on Sarissa's Lake Nemegosenda carbonatite-hosted niobium property in Northern Ontario.

With existing, historical property data indicating approximately 20 million tons of 0.47% Nb2O5 (non-NI 43-101-compliant: Ontario Geological Survey study 34 by R.P Sage, published in 1987), the purpose of the preliminary assessment report is to evaluate the historical exploration work on the property conducted by Gulf Minerals Canada Limited and include an initial review of the original drill logs. The independent consultants will then make recommendations for future exploration assessment work that may be required in order to allow the company to have an NI 43-101 compliant resource estimate prepared.

Sarissa president Scott Keevil commented, "We are extremely excited to begin the process of re-evaluating this historic deposit. The fact is mines are made, not discovered, and Sarissa is in a position any junior exploration company would be envious of. Hypothetically, we could have gone out and spent 10 years and $10 million to find properties, explore them and possibly outline an economic ore body, and still not have what we already have now. The independent geological consultants will look to evaluate Gulf's historic data as well as look at the potential for additional mineral values, such as uranium, tantalum and Rare Earth Metals which are often associated with carbonatite deposits." He continued, "If it is determined Nemegosenda has additional mineralization, it could be incrementally accretive to the niobium values already there. We anticipate this initial assessment being completed in a 4 to 5 week time frame, at which time we will update shareholders on the outcome."

A qualified person, as defined under NI-43-101, has not yet done sufficient work to comment on the relevance or reliability of this historical estimate. The company is not treating the historical estimate as, nor can the historical estimates be relied upon as, current mineral resources or reserves. Dr. Cam Cheriton, a director of Sarissa, is a "qualified person" within the meaning of National Instrument 43-101 and has read and is responsible for the technical information contained in this news release.