Module Resources Incorporated (TSX - V: MLE) is pleased to report the results from the remaining three holes (McM 30, 32 & 33) of its five hole diamond drill program which commenced in October, 2009, on the McMaster Zone at its Ladner Gold Property near Hope in southeast British Columbia. The objectives of these holes were designed to test for mineralization to the east and to the north and south of previously drilled areas. A new gold zone was intersected in hole McM-32-09 grading 2.86 gm/t gold over 43.6 metres. Included in this zone is 27.6 metres grading 3.96 gm/t gold.

The results of the work completed on the McMaster drill program in 2009 are very encouraging. Results indicate that extensive mineralization occurs to the east, which has not been previously drilled. The recently completed drilling and assay results indicate that the McMaster Zone is open both to the south and to the north of previous drilling and at depth. As previous drilling was oriented to the west, the recent drill program has confirmed that gold mineralization also occurs to the east, which has implications for increasing the overall area and hence potential open pit resource of the McMaster Zone.

DRILL RESULTS
Hole McM-30-09 was drilled approximately 65 metres south of McM-12-09 and to the east. Calculated weighted averages of gold grades for hole McM-30-09 are presented in the following table. The true widths of these intersections are not known.

This hole was drilled at too steep of an angle and did not intersect the mineralized zone that was intersected in M-12/89 and McM-09-12 (see Press Release of January 6, 2010).

Holes McM-32-09 and McM-33-09 were drilled from the same location and to the east approximately 100 metres north of hole M-13/89 which was drilled in 1989. Calculated weighted averages of gold grades for M-13/89 are presented in the following table. The true widths of these intersections are not known.

Calculated weighted averages of gold grades for hole McM-32-09 are presented in the following table. The true widths of these intersections are not known.

Calculated weighted averages of gold grades for hole McM-33-09 are presented in the following table. The true widths of these intersections are not known.

Hole McM-33-09 intersected the McMaster Fault while hole McM-32-09 was steeper and did not intersect this same fault. This fault separates the mineralization intersected in McM-32-09 from that in McM-33-09. This McMaster Fault is either an offset of the Hozameen fault or a fault sub-parallel to the Hozameen Fault. The Hozameen Fault is the major linear structure within the Coquihalla Gold Belt that is associated with numerous [structurally controlled] gold showings. The mineralization intersected in hole McM-33-09 represents a new mineralized structure for the McMaster Zone and appears to be similar to that intersected underground at the Carolin Mine (level 875, section 11,000 north).

Alteration and style of mineralization in the McMaster Zone is similar to that at the Ladner Mine (formerly called Carolin Mine) which is approximately 1200 metres to the south. It is anticipated that with deeper drilling on the McMaster Zone and further underground exploration in the Ladner Mine, gold mineralization may be contiguous and thereby extending the underground resource potential

All core from the 2009 program was transported to a site 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 on 30 gm sample for gold and ICP-MS using an aqua regia digestion for multi-elements. Results for the blanks and standards were comparable and acceptable.

From previous work conducted in 1989 and 1996, there are indications of anomalous gold in the surface material. Unfortunately due to the casing of the drill holes, the surface material was not sampled. However, in future drilling, surface material will be collected during the casing of all drill holes


OTHER ZONES
In addition to the McMaster Zone, the Lorainne Zone occurs approximately 800 metres to the northeast of the McMaster Zone. Limited drilling in 1995 on the Lorainne Zone has identified mineralized zones grading from 0.56 to 1.91 gm/ton gold over 4 metres. Hole L3-95 assayed 36.8 gm/ton over 1.2 metres. The Lorainne Zone is open to the southeast. The recent drilling (2009) together with previous exploration including soil geochemistry, geological mapping and diamond drilling, indicates that the McMaster and Lorainne Zones may be contiguous. This interpretation would indicate the area for potential open pittable resources has an extent of approximately 1500 metres by 500 metres. A major drill program will need to be instigated later this year to determine the extent of gold mineralization.


LADNER MINE UPDATE
The Ladner Mine has been rehabilitated and has the necessary permit in place to carry out an underground exploration program. This program is designed to bring the previous resource estimates up to NI 43-101 compliance and to explore for new areas of gold mineralization and thereby increase the gold resource. Previous work consisting of diamond drilling, sampling and resource calculation by Athabaska Gold Resources Ltd. (Report to Shareholders, April 18, 2000) estimated a ”defined diluted mineable reserve in all categories” of 1,350,000 tonnes grading 4.41g/t gold (approximately 190,500 oz gold). Note that this is a historical estimate only and was not approved and prepared in compliance with the CIM categories as referenced in NI 43-101 and as such cannot be relied on. It is, however, indicative of the potential gold contained in the Ladner Mine, which is open to the north and at depth. Based on historical exploration and development work in 1995 - 1996 and historical production records of the Carolin Mine, the Company believes that there is potential to reopen the mine at some time in the future given that the Company has retained the original mine permit and if the exploration and development programs are successful and a positive feasibility study is obtained given a favorable gold price.


About Module Resources
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, Emancipation Mine (intermittent gold producer from 1916 – 41), Pipestem Mine (intermittent gold producer from 1935 - 37), and numerous gold prospects situated along the under-explored Coquihalla Gold Belt.

For location maps of the drill holes and additional 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.