Altai Resources Inc. announced that effective May 23, 2012 Marc-Andre Lavoie has resigned as President and Chief Executive Officer of the Company, Geraint Lloyd has resigned as Chief Operating Officer and VP Exploration of the Company and the board of directors has accepted their resignations. Mr. Lavoie remains a director of the Company, and Niyazi Kacira, currently a director and Chairman of the Company, has been appointed Interim President of Altai. The Montreal office of the Company will be closed with immediate effect.