La Quinta Resources Corporation (TSX VENTURE:LAQ) (the "Company") reports that
it is in discussion with its Congolese Partners Wa Balengela Kasai Investments
Congo, sprl, (WBK,) regarding amending or postponing the terms of its
Exploration Option and Joint Venture Agreements in Democratic Republic of Congo,
in the light of the current financial crisis in the markets and the Company's
need for additional funds to finance the on going requirements of the JV.


The formal Agreements, signed in April this year, give La Quinta the option to
earn up to 80% in the Joint Venture Company with WBK, by funding US$ 10 million
in exploration expenditure over five years, with a minimum expenditure of $2
million per year. Upon completion of a feasibility study within the five year
period, the Joint Venture will be entitled develop the properties within the
7,626 square kilometer exploration licence areas by converting them to an
Exploitation Licence or licences, in accordance with the Mining Code of the
Democratic Republic of Congo.


Currently, La Quinta holds a 10% interest in the joint venture company and WBK
holds 90% and La Quinta has the right to increase its interest in the joint
venture company to an 80% interest by making payments to WBK totaling
US$1,500,000 and issuing 8,000,000 shares of La Quinta over the first three
years of the agreement. La Quinta was required to make a payment of $150,000,
plus 1,000,000 shares on October 23rd 2008 and has been unable to meet this
obligation. In addition to the property payment, the Company is required to
expend a minimum of $2 million on the joint venture properties before April 2009
and make a further property payment of $150,000, plus a further 1,000,000 shares
in April 2009.


Because of the financial market conditions the Company is unable to meet the
current payments and funding requirements of the JV and will therefore opt to
take advantage of a 30-day cure period clause in the Option and JV Agreement, to
attempt to arrange financing of its obligations. Failure to make these payments,
or to reach alternative agreement with WBK within the 30 day period will lead to
an Arbitration Process in Congo and ultimately in the Company losing the
projects in DRC.


Dr. Francois Bodika who is a Principal and the largest shareholder of WBK has
resigned his position as a director of the Company in order to avoid any
conflict of interest. Separately, Directors William (Bill) Morton and Donald Gee
have resigned as directors because of increased personal work load in their own
businesses, brought about by the current financial crisis in the markets. The
Company would like to take this opportunity to thank both Mr. Morton and Mr. Gee
for their valuable contributions to the Corporation and wish them well in their
future endeavours.


Statements included in this announcement, including statements concerning our
plans, intentions and expectations, which are not historical in nature are
intended to be, and are hereby identified as, "forward-looking statements".
Forward-looking statements may be identified by words including "anticipates",
"believes", "intends", "estimates", "expects" and similar expressions. The
company cautions readers that forward-looking statements, including without
limitation those relating to the company's future operations and business
prospects, are subject to certain risks and uncertainties that could cause
actual results to differ materially from those indicated in the forward-looking
statements. We also seek safe harbour.


ON BEHALF OF THE BOARD

Malcolm JA Swallow, Chairman and CEO

SEC 12G file#82-35061