Commentary

Sarissa put out a promising release this morning. Shifted the cost burden on developing the Dead Moose Lake Property to a private company on an 'earn-in" Joint Venture basis.

Sarissa gets stock for the "try-n-buy" and gives up 50% of the project only after the private company comes up with $250k to work the land - which Sarissa gets to administer, mind you. Not bad....

Lets see what happens..

Press Release

Sarissa Resources Agrees to Joint Venture Option on Dead-Moose Lake Property

Mar 19, 2008 9:15:00 AM

BAY CITY, MI -- (MARKET WIRE) -- 03/19/08 -- Sarissa Resources, Inc. (PINKSHEETS: SRSR) announced today that the Company has entered into an option agreement with Botanic Oasis International Inc. ("BOII"), a privately held exploration company, whereby BOII has a purchase "earn-in" option to acquire up to a 50% working interest in Sarissa's Dead-Moose Lake Property project in Northern Ontario.

Under the terms of the Agreement, BOII has the option to acquire a 50% working interest in the project in exchange for a non-dilutive 5% of the outstanding shares of BOII common stock and an "earn-in" commitment to spend $250,000 to explore the property over the next 24 months, and a $25,000 cash payment to Sarissa. Sarissa will act as property operator with respect to any monies spent to explore the property under the terms of the option agreement and BOII will be required to reimburse Sarissa for any and all costs incurred, such as administration fees and property and claim maintenance, above and beyond the $250,000 capital commitment by BOII. Exploration expenditures, including the applicable administration fee associated with general property and claim maintenance, will be for a minimum of $5,000 for the first four months. The balance of the exploration expenditures must be incurred by March 30, 2010. A finders fee is payable in conjunction with the transaction.

The Dead-Moose Lake Property was initially staked following the release of the Ontario Geological Survey's Open File Report 6061: "Montreal River Headwater Area Sediment Survey, Northern Ontario: PGE [Platinum Group Elements] Data-Operation Treasure Hunt." An excerpt from the report stated, "The highest Pd [Palladium], second highest Platinum [Pt] [Platinum] and seventh highest Au [Gold] (FA/ICP-MS) value collected in the survey area was obtained from a small lake located near Deadmoose Creek in central Shillington Township." In 2006 Sarissa contracted for a Geotech VTEM (Versatile Time Domain Electromagnetic) airborne geophysical survey to be conducted over the Dead-Moose property. Analysis of magnetic and VTEM data has indicated 5 potential mineral targets, of which 2 VTEM anomalies indicate a potential for Copper [Cu] and Gold [Au], while 2 VTEM and magnetic anomalies indicate a potential for Nickel [Ni], Copper [Cu] and Platinum [Pt] and 1 indicates potential for a Kimberlite/diamond target. There are several other magnetic highs and lows paralleling regional and mineralized structures to the west of the highlighted survey area that also have significant potential.

Sarissa Resources CEO, Scott Keevil, commented, "We are pleased to have consummated an agreement with the principals of Botanic. We feel that this option agreement provides Sarissa with a low risk way to finance the development of the Dead-Moose property. Additionally, because Botanic is currently pursuing a public listing venue for its shares, our share ownership position could provide significant intrinsic value to Sarissa in the near future." He continued, "We are also getting close to finishing the most recent assessment of the Lake Nemegosenda Property and will be updating shareholders on the results of that initiative shortly."