On May 15, 2006, Alba Mineral Resources plc, the UK based exploration company, announced that it had, through its wholly owned subsidiary Aurum Mineral Resources Limited, entered into an exploration option and joint venture agreement with Inco Europe Limited, a wholly owned subsidiary of Inco Limited, one of the world's largest nickel producers, in respect of the Company's Arthrath nickel-copper-PGE project in Aberdeenshire Scotland.

Under the terms of this agreement Inco has the right and option to earn a 60% interest in the Arthrath project by funding €2,500,000 of exploration expenditures over a four year period.

Darrell Podowski and Darryl Levitt advised Alba Mineral Resources in negotiating and preparing this transaction.