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Goldrush Resources Ltd. (GOD)
Market: CDN Consolidated
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Goldrush announces Private Placement to raise up to $1,000,000

(via Thenewswire.ca)

*NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES*

September 17, 2012 News Release #18 - 2012

(Vancouver, B.C.) Goldrush Resources Ltd. (TSX-V: GOD) (Goldrush or the "Company") wishes to announce that it has arranged a non-brokered private placement (the "Financing") of up to 20,000,000 units (each a "Unit") at a purchase price of $0.05 per Unit for gross proceeds of up to $1,000,000.

Each Unit will consist of one common share and one share purchase warrant. Each warrant will entitle the holder to purchase an additional common share for a period of 24 months from the closing of the Financing at a purchase price of $0.065 per share in the first 12 months following closing and thereafter for the remainder of the term of warrant at a purchase price of $0.10 per share. The net proceeds of the Financing will be used: (i) to fund a program of trenching and drilling on the Company's Ronguen gold deposit in Burkina Faso, West Africa; (ii) to fund exploration programs on the Company's other high priority Burkina Faso projects; and (iii) for working capital purposes.

Current insiders and related parties of the Company may participate up to 25% of the total Financing. The Company may pay finder's fees to arm's length parties who introduce subscribers to the Company. Such finder's fees may be payable in cash, shares and/or warrants subject to compliance with the policies of the TSX Venture Exchange.

The Financing, including the payment of any finder's fees is subject to the approval of the TSX Venture Exchange. All securities issued in connection with the Financing will be subject to a hold period expiring four months and one day following the closing of the Financing.

Goldrush has recently expanded and upgraded its resource at the Ronguen gold deposit in central Burkina Faso, providing an asset which is oxidized and amenable to low cost heap leach processing. Ronguen is located in the well endowed Boromo Greenstone Belt. The Boromo Belt contains a near-surface global estimated resource in excess of 13 million ounces of gold in seven of 17 deposits enumerated in the country.

Burkina Faso is a politically and economically stable West African democracy that relies on mining and farming as its primary sources of foreign exchange. The country has seen gold mining fluorish, with seven new mines coming to production since 2007, vaulting Burkina into the position of fourth largest gold producer in Africa in 2012, and the third largest site for gold exploration on the continent.

The securities being offered have not been, nor will they be registered under the United States Securities Act of 1933, as amended, or state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. federal and state registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.

For further information on Goldrush Resources Ltd., shareholders and other interested parties are invited to visit the Company's website at www.goldrushresources.ca.

ON BEHALF OF THE BOARD OF DIRECTORS,

GOLDRUSH RESOURCES LTD.

"Len Brownlie"

Len Brownlie - President and Chief Executive Officer

Contact Information:

Don Willoughby, VP Corporate Development: info@goldrushresources.ca

1-416-306-5790

About Goldrush: Goldrush is a Canadian mineral exploration company which has successfully focused on gold exploration in West Africa, where the company has discovered, and has recently expanded and defined the Ronguen gold deposit in Burkina Faso to a 332,000 ounce measured and indicated resource (8,847 million tonnes at a grade of 1.22 g/t Au) and an inferred resource of 52,000 ounce (890,000 tonnes at a grade of 1.85 g/t Au).

FORWARD-LOOKING STATEMENTS: This news release contains certain "forward-looking statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Except for statements of historical fact relating to the company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Copyright (c) 2012 Thenewswire.ca - All rights reserved.

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