Lovitt Resources Inc. Acquires Key Mineral Lease on Wenatchee Gold Belt

VANCOUVER, BRITISH COLUMBIA, Nov 16 (MARKET WIRE) --
Lovitt Resources Inc. ("LRC") (TSX VENTURE: LRC) is pleased to inform
shareholders that it has leased a 155 acre property on the Wenatchee Gold
Belt known as the Matthews Lease. The lease will be in effect for 15
years and LRC has the option to purchase the property anytime in the
first seven and one half years for US$ 5,000,000. Lease terms call for
the immediate issuance of 60,000 shares of LRC, plus a payment of US$
15,000 January 5, 2010. An advance minimum royalty payment of US$ 20,000
is due November 1, 2011, followed by a similar payment of US$ 30,000
November 1, 2012 and the same amount every year thereafter for the life
of the lease. This lease is subject to the approval of the TSX Venture
Exchange where the company trades with stock symbol LRC.V.

The Wenatchee Gold Belt ("WGB") lies NW-SE for a length of 7.5 miles,
open in both directions, with high grade gold intercepts at both ends.
The Cannon Mine is at the north end of the Belt on the city limits of
Wenatchee, WA , and the Lovitt Mine owned by LRC adjoins the Cannon Mine
to the south. The Cannon Mine produced 1.2 million ounces of gold from
1985- 1994 and the Lovitt Mine produced 420,000 ounces of gold from 1950
to 1967. Silver over the known extent of the WGB runs about 1.5 times the
gold weight. LRC is currently conducting exploration to evaluate
production options on the Lovitt Gold Mine patented claims.

The Matthews Lease, approximately 1.5 miles southeast of the Lovitt Gold
Mine, was first explored by Asamera Minerals (US) Ltd in 1987 and 1988
when 34 diamond drill holes were completed. Consolidated Ramrod drilled
12 additional diamond drill holes in 1992 and 1993. Even though most
drill holes were vertical, it is remarkable that over 75% contained
significant gold intersections. Historic information indicates the
following more significant gold intersections:

------------------------------------------------------------
From To Length Gold Gold
Hole (ft) (ft) (ft) (oz/ton) (g/t)
------------------------------------------------------------
MAT 2 1730 1745 15 0.154 5.28
------------------------------------------------------------
MAT 2 1845 1850 5 0.159 5.45
------------------------------------------------------------
MAT 4 2005 2030 25 0.272 9.33
------------------------------------------------------------
MAT 7 1590 1600 10 1.300 44.59
------------------------------------------------------------
MAT 7 2485 2490 5 0.175 6.00
------------------------------------------------------------
MAT 8 1790 1840 50 0.177 6.07
------------------------------------------------------------
MAT 8 1965 1970 5 0.168 5.76
------------------------------------------------------------
MAT 13 1775 1815 40 0.338 11.59
------------------------------------------------------------
MAT 14 1755 1760 5 0.195 6.69
------------------------------------------------------------
MAT 17 2015 2030 15 0.107 3.67
------------------------------------------------------------
MAT 20 1770 1800 30 1.357 46.55
------------------------------------------------------------
MAT 20A 1800 1815 15 0.320 10.98
------------------------------------------------------------
MAT 25 1595 1600 5 0.139 4.77
------------------------------------------------------------
MAT 25 1630 1635 5 0.345 11.83
------------------------------------------------------------
MAT 93-1 1865 1905 40 0.229 7.85
------------------------------------------------------------
MAT 93-3 1840 1845 5 0.184 6.31
------------------------------------------------------------
MAT 93-6 1655 1685 30 0.121 4.15
------------------------------------------------------------
MAT 94-8 2535 2540 5 0.108 3.70
------------------------------------------------------------
MAT 94-8 1630 1650 20 0.113 3.88
------------------------------------------------------------
MAT 94-8 1720 1730 10 0.225 7.72
------------------------------------------------------------
MAT 94-8 1760 1765 5 0.530 18.18
------------------------------------------------------------
MAT 94-10 1855 1880 25 0.119 4.08
------------------------------------------------------------
MAT 94-10 1925 1995 70 0.207 7.10
------------------------------------------------------------
MAT 94-10 2050 2060 10 0.160 5.49
------------------------------------------------------------
MAT 94-10A 1835 1840 5 0.113 3.88
------------------------------------------------------------
MAT 94-10A 1945 1970 25 0.486 16.67
------------------------------------------------------------
MAT 94-11 2040 2055 15 0.116 3.98
------------------------------------------------------------

The geology of the Matthews property is similar that known of the rest
of the WGB. The area explored on the Matthews Lease to date is 1500 feet
by 750 feet, and contains abundant, high grade, sediment hosted gold
mineralization with lesser rhyodacite, intrusive-hosted high-grade gold.
Targets consist primarily of high grade epithermal veins with adjacent
high grade sediment hosted mantos and high grade breccias pipes. Some
step out drill locations are 500 feet apart.

Both the Lovitt Gold Mine and Matthews Lease rely upon historic data
which cannot be relied upon for mineral resource estimation without
further diamond drilling. Management of LRC believes that the patented
claims of the company hold the solution to future development of the
Wenatchee Gold Belt, since all parts of the belt could be accessed by the
construction of an exploration/production drift from the Lovitt Mine
workings, possibly the least intrusive and easiest permitting approach to
access the mineable gold and silver in the area. The WGB has local access
to cheap power, skilled workmen, excellent roads, and a major east- west
national rail line with infrastructure within two miles.

LRC previously announced a drill program for the Lovitt Mine and will now
factor in a drilling program for the Matthews lease to be conducted
concurrently. Budget and financing options for an expanded exploration
program by LRC are currently under study. This release was approved by
LRC Director James M. Proudfoot P Eng., a qualified person under NI
43-101.

Lovitt Resources Inc. (TSX Venture stock symbol "LRC.V")

Neither the TSX Venture Exchange nor its Regulatory Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this news release.

Contacts:
Lovitt Resources Inc.
Lorne Brown
President
(509)668-8170
(604)626-4748 (FAX)
info@lovittresources.com
www.lovittresources.com

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