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

VANCOUVER, BRITISH COLUMBIA, Jan 22 (MARKET WIRE) --
Zoloto Resources Ltd. ("ZR" or the "Company") (TSX VENTURE: ZR)(OTCBB:
ZRSCF), is pleased to announce the completion of its 2007 exploration
programme on the Ozherelie gold deposit in the Irkustk 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
the Marakan 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 gold to 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:
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
that are 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.

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

Contacts:
Zoloto Resources Ltd.
Robert Maddigan
Director
(604) 608-0223
(604) 608-0344 (FAX)
Email: robertm@zolotoresources.com
Website: www.zolotoresources.com

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