Sarissa Resources Announces Financing Option Agreement

The funds raised under the Option will be used to conduct pre-feasibility metallurgical studies and scoping studies. The reports will be structured to qualify as a Preliminary Assessment under NI 43-101, including geological modeling and further resource estimates of the mineral potential of Nio-Star's wholly-owned Nemegosenda niobium property. Funds will also be used towards evaluating and pursuing a potential listing of HKHE. Budget proposals for these various studies have been received and the contracts will be let shortly. Please see below for further details on these anticipated reports.

With these updated studies and reports on the Nemegosenda property the Company hopes that HKHE (tentatively to be renamed Nio-Star Holdings) would become a separate reporting issuer in 2012. At the time of such listing, if successful, the Company may enact a dividend-in-kind spin out transaction (the "Spin-Out") involving the pro rata distribution of its share holdings in HKHE to Sarissa shareholders of record on a date to be set later this year. Management of Sarissa has determined to seek shareholder approval for the Option and Spin-Out at a special meeting of shareholders. Details will be mailed to shareholders.

Sarissa believes this financing arrangement and proposed Spin-Out plan represent an important milestone in the continued development of the Nemegosenda property and realizing value for Sarissa shareholders. In particular it provides immediate funding without the prospect of a significant number of new shares overhanging the market. In addition the transaction provides us with access to finance groups in both Hong Kong and China, which may greatly assist in a successful listing, and the ultimate development of our asset. With a large retail investor base in Hong Kong and China and with the proximity to Asian capital and major resource markets in China we look forward to an exciting future.

Report Details:

Following is a partial list of technical data to be reviewed or developed for the Studies:

Geology and Resources: including current mineral resource estimates; block modeling information; classification of the mineral resources in accordance with a recognized code; mining and metallurgical processes; infrastructure; environmental elements; and a potential project execution plan.

Safe Harbor This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Sarissa Resources Inc., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The Company does not undertake any obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.

About Sarissa Resources Inc.

Sarissa Resources Inc. is a junior exploration company with interests in properties with base metal, precious metal, uranium, niobium and rare-earth prospects in Northern Ontario, Canada. The Company is specifically focused on the development of its Nemegosenda niobium project.