Module Resources Incorporated (TSX - V: MLE) is pleased to report the results from the first two holes of its five hole diamond drill (NQ size) program on the McMaster Zone at its Ladner Gold Property near Hope in southeast British Columbia. The objective of the drill program, which commenced in October 2009, was to confirm earlier drilling conducted in 1989. The results indicate that there are several mineralized zones and that there is continuity between the holes.

The Ladner Gold property includes 229 claims (11,175 hectares) covering 18 kilometres of the
Coquihalla Gold Belt, and contains several historic gold producers including the Carolin Mine, a former underground gold producer from 1982 – 84 and numerous gold showings. Work conducted on the McMaster Zone in 1975, 1989 and 1996 defined five sub-parallel mineralized zones. Mineralization consists of quartz-albite-calcite veining with disseminated pyrite, pyrrhotite and arsenopyrite hosted in pervasively silicified, brecciated siltstone and wacke. All diamond drill holes that had been drilled in the McMaster Zone up to 1996 were drilled to the west. Three holes from the 2009 drill program were drilled to the east to test for mineralization and the Company expects to announce the results shortly.

All core from the 2009 program was transported to a core shack in Hope, BC, where it was logged and sampled. Mineralized core was sawn in half with half of the sample shipped to Acme Analytical Laboratories, an ISO 9001:2000 certified analytical laboratory, located in Vancouver, BC. The remaining core was replaced in the core box and stored in Hope for future reference. Core recovery for these holes was on average 97%. As there is no remaining core from previous drilling, no historic core samples were obtained. Blanks and standards were inserted in the sample stream at the time of sampling and all samples subsequently underwent testing by various analytical techniques including fire assay for gold and ICP-MS for multi-elements. Results for the blanks and standards were comparable and acceptable.

Calculated weighted averages of gold grades for holes McM-12 -09 and M -12/89 are presented in the following table. Hole McM-12-09 is a twin hole approximately five metres south from hole M-12/89,which was drilled in 1989. The true widths of these intersections are not known.

Calculated weighted averages of gold grades for holes McM-9-09 and M-9/89 are presented in the following table. Hole McM-9-09 is a twin hole approximately three metres north from hole M-9/89 which was drilled in 1989. The true widths of these intersections are not known.

Additional exploration and infill drilling will be required in order to map these mineralized zones and eventually calculate an NI 43-101 compliant resource for the McMaster Zone.

For further information, please visit the company’s website at www.moduleresources.com .


The technical information contained in this release has been prepared by Bruce Downing, PGeo, a qualified person who is the president and CEO of the Company.

ON BEHALF OF THE BOARD OF DIRECTORS

“Bruce W. Downing”
Bruce W. Downing, M.Sc., PGeo., Hon.FEC
President & Chief Executive Officer
Office 778 – 294 - 3211
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Caution concerning forward-looking information
This press release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as “may,” “will,” “should,” “anticipate,” “plan,” “expect,” “believe,” “estimate,” “intend” and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of Module in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause Module’s actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon. Risks and uncertainties that may cause actual results to vary include but are not limited to the speculative nature of mineral exploration and development, including the uncertainty of reserve and resource estimates; operational and technical difficulties; the availability of suitable financing alternatives; fluctuations in gold and other commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; fluctuations in foreign exchange rates; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management’s Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. Module disclaims any obligation to update or revise any forward-looking information or statements except as may be required by law.