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Toronto, ON - January 29, 2009 - Volta Resources Inc. ("Volta" or the "Company") (TSX:VTR) reports that Freeport-McMoRan Exploration Corporation ("FMEC") has provided notice that FMEC has elected not to proceed with exploration expenditures and payments related to an earn-in agreement on Volta's Gaoua copper-gold porphyry project located in southern Burkina Faso. FMEC has not earned an interest in the project and does not retain any back-in rights to the Gaoua project.

Over 23,000 metres of drilling has been carried out over the last two years on the Gongondy and Dienemera deposits within the Gaoua properties. Based on the positive drill assay results Volta has commissioned SRK Consulting (UK) to undertake an independent National Instrument 43-101 compliant resource estimate for the Gongondy and Dienemera deposits at the Gaoua project. This resource estimate is scheduled to be completed during the current quarter. Volta is planning additional drilling to extend the mineralization on the aforementioned deposits, as well as tractor-mounted power auger drilling to pursue targets under transported regolith cover identified along the 35 kilometer long porphyry corridor within the Gaoua properties.

Volta is a mineral exploration company focused on becoming the leader in the identification, acquisition and exploration of gold properties in West Africa. The Company is committed to West African exploration and is Canadian-based with its head office in Toronto, Ontario and operations offices in Accra, Ghana and Ouagadougou, Burkina Faso. The Company currently has 53.2 million common shares issued and over $8.0 million in cash and marketable securities.

For further information, please refer to our website www.Voltaresources.com or contact:

Kevin Bullock, P.Eng., President & CEO
Tel: (416) 867-2299
Fax: (416) 867-2298
Email: kbullock@voltaresources.com

Investor Relations: Vancouver
Farah Alibhai
Tel: (604) 731-7340
Email: falibhai@voltaresources.com

The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this news release.

Forward Looking Information Caution:

This press release presents "forward-looking statements" within the meaning of Canadian securities legislation that involve inherent risks and uncertainties. Forward-looking statements include, but are not limited to, statements with respect to the future price of gold and other minerals and metals, the estimation of mineral reserves and resources, the realization of mineral reserve estimates, the capital expenditures, costs and timing of the resources, the realization of mineral reserve estimates, the capital expenditures, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, currency exchange rate fluctuations, requirements for additional capital, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage. Generally, these forward-looking statements can be identified by the use of forward looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Volta to be materially different from those expressed or implied by such forward looking statements, including but not limited to: risks related to international operations, risks related to the integration of acquisitions; risks related to joint venture operations; actual results of current exploration activities; actual results of current or future reclamation activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of gold and other minerals and metals; possible variations in ore reserves, grade or recovery rates; failure of equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; and delays in obtaining governmental approvals or financing or in the completion of development or construction activities. Although the management and officers of Volta believe that the expectations reflected in such forward-looking statements are based upon reasonable assumptions and have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Volta Resources does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.

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http://www.voltaresources.com/s/NewsReleases.asp?ReportID=336244