Zoloto Completes 2007 Drilling Programme on the Ozherelie Gold Deposit Irkutsk Region

VANCOUVER, BC, Jan 22 (MARKET WIRE) --
Zoloto Resources Ltd. ("ZR" or the "Company") (TSX-V: ZR) is pleased to
announce
the completion of its 2007 exploration programme on the Ozherelie gold deposit
in the
Irkutsk region of central Siberia. The project is located 435 km north-east of
Lake Baikal and 42 km west of the Sukhoi Log gold deposit. Currently,
Zoloto owns 51% of Ozherelie, through its ownership of ML Ltd, with an
option to earn a 100% interest in the property.

In April 2007, Zoloto outlined its Phase 1 exploration programme. The
objectives of this programme were to:

-- Test and extend the down-dip and peripheral projections of the known
gold mineralisation with larger 63 mm diameter core.
-- Obtain a better understanding of structural, stratigraphic and
mineralogical controls on mineralization along Ozherelie's 7 km strike
length.
-- Confirm the potential for Ozherelie to support large tonnage-medium
grade open-pit operations.

In 2007, approximately half of Zoloto's Phase 1 programme has been
completed, and includes:

-- Diamond drilling consisted of a total of 2264 metres drilled in 12
holes into Zone 1. Full assay results are pending. Importantly, during
the current programme, core logging observations of quartz and visible gold
distributions suggest that up to three stacked lenses typically from 5 to
30 metres thick have the potential to host significant gold mineralisation.
-- Across the valley at Zone 3, a preliminary drilling campaign
consisting of 49 percussion holes has consistently intersected the target
quartz horizon. Initial indications also suggest that Zone 3 hosts
multiple parallel quartz horizons, similar to that seen in Zone 1.
-- Eleven trenches in Zone 4 and 1 trench in Zone 5 were excavated over a
total 1325m length. In total 926 channel samples were collected. Assay
results are pending.

Commenting on these results, Robert Maddigan, Director of Zoloto
Resources,stated, "We are very excited about the Phase 1 results. Drilling and
trenching has encountered the gold-quartz horizon as expected and the results
are confirming our previous geologic model. While we are awaiting assay
results,
a major positive is that three parallel ore horizons have been encountered.
Consequently, aggregate drill width intercepts per hole are significantly
greater than previously anticipated."

This 2007 work follows from programmes carried out over both deposits
between 2002
and 2006, of surface sampling, trenching, drilling and bulk sampling. In 2006
a 5000 tonne bulk sample from Zone 1 at Ozherelie yielded 15 kg of gold, for an
average grade of 3.0 grams per tonne. Previous exploration at Ozherelie has
outlined five zones along a 6.5 km north-south strike-length. These have
been trenched, surface sampled and percussion-drilled with encouraging
results. Additional work including extensive diamond drilling is required on
all
of these zones. Zones 1 and 4 at the southern and northern extremities have
also been historically sparsely tested with 18 diamond drill holes.

The Ozherelie deposit overlooks an ongoing placer dredging operation by
theMarakan Mining Company on the Marakan River, and is said to produce 1 to 2
tonnes of gold annually. Current thinking ascribes the origin of this
goldto the Ozherelie concession. Historic placer gold production is estimated
at 15 to
30 tonnes.

For a more detailed overview of the project see the Zoloto Resources website
at:
http://www.zolotoresources.com/main/?irkutskRegion.

Mineralisation is associated with one or more gently east-dipping stacked
lenses
of up to 20% quartz stringers, veins and irregular masses within older
sedimentary rocks, and bounded by a semi-concordant set of thrust faults. Gold
at Ozherelie, Ykanskoye and Sukhoi Log is thought to be linked to
post-metamorphic granitic intrusions. A previous NI 43-101 report provides a
thorough description and evaluation of the Ozherelie and Ykanskoye deposits.

This is available on the SEDAR website at the following link:
http://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00005077

This press release has been prepared under the supervision of Louis Covello,
P.
Geol., who is designated as a Qualified Person as defined by NI 43-101 with
the ability and authority to verify the authenticity and validity of this
press release.

About Zoloto Resources

Zoloto Resources is a gold exploration company whose primary focus is to
become a mid-tier gold producer through the advancement of its gold
exploration properties in the Russian Federation. In addition, Zoloto's
management
will continue to evaluate acquisition opportunities within the Russian
Federation. Zoloto's philosophy is to unlock shareholder value in a
socially and environmentally responsible manner.

Forward-looking statements -- Statements included in this news release
thatare not historical facts may be considered "forward-looking statements." All
estimates
and statements that describe the Company's objectives, goals or future plans
are forward-looking statements. Forward-looking statements involve inherent
risks
and uncertainties where actual results could differ materially from those
currently anticipated.

The TSX Venture Exchange has not reviewed and does not accept responsibility
for
the adequacy or accuracy of this release.

For more information please contact:
Robert Maddigan
Director
Phone: (604) 608 0223
Fax: (604) 608 0344
Email: robertm@zolotoresources.com

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