VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 3, 2008) - Goldrush Resources Ltd. (TSX VENTURE:GOD) ("Goldrush" or the "Company") is pleased to report that SRK Consulting (Canada) Inc. ("SRK") has agreed to complete a National Instrument 43-101 resource estimate on the Ronguen Gold Zone.
The Company's flagship Ronguen Gold Zone, located on the Kongoussi 1 permit in north-central Burkina Faso, is just 6 km. northwest of High River Gold's ("High River") Bissa gold deposit. In July, 2007, High River began exploration work to increase the sizable gold resource at Bissa.(1)
Through Goldrush's Strategic Alliance Agreement with High River, the Company will have preferred access to truck its ore for processing to a mill at Bissa if one is built by High River, should a commercially viable deposit be defined, with no capital contribution required by Goldrush. This highly favourable situation for Goldrush means that mining operations can begin with a smaller deposit than would normally be required if the Company had to undergo the capital cost burden of constructing its own processing facility.
From acquisition in early 2006 to November 30, 2007, the Company has completed 339 drill holes totaling 19,599 metres of rotary air blast, reverse circulation and diamond drilling on Ronguen. In October and November, 2007, the Company conducted an infill core drilling and trenching program sufficient to support the preparation of an independent, NI 43-101 initial resource estimate for the Ronguen Gold Zone. The highly regarded international geological consulting firm SRK Consulting (Canada) Inc. ("SRK"), has been engaged to generate this report and results will be published upon its completion, expected to be in late Q1, 2008. SRK employs over 600 professionals in 31 offices on 6 continents and is widely considered to be one of the pre-eminent earth sciences consultancies worldwide.
(1) The current resource at Bissa consists of 81,980 measured ounces of gold (753,000 tonnes averaging 3.39 g Au/t); 580,270 indicated ounces of gold (11,253,000 tonnes averaging 1.60 g Au/t) and 679,470 inferred ounces of gold (16,394,000 tonnes averaging 1.29 g Au/t)) (see High River news release dated July 12, 2007). (Readers are cautioned that the Company has not independently verified the Bissa resource estimate and that the presence of a gold resource at Bissa is not necessarily indicative that gold mineralization present on the Bissa property continues into Kongoussi 1).
About SRK Consulting (Canada) Inc.
SRK is an independent, international consulting group, employing leading specialists in environmental science and mineral engineering. Its seamless integration of services, and global base, has made the company a significant international practice in due diligence, feasibility studies and confidential internal reviews. SRK's global experience and reputation for excellence is widely recognized among the major financial institutions and we are repeatedly called upon to advise on and evaluate projects for all types of market transactions. Formed in 1974, SRK employs more than 600 professionals internationally in 31 permanent offices on 6 continents.
About Goldrush: Goldrush is a mineral exploration company focused on gold exploration in Burkina Faso, West Africa with an established organization of people and projects to enable aggressive growth. Through a strategic partnership with High River Gold Mines Ltd. Goldrush has the ability to access High River's processing facilities and infrastructure without incurring all the capital costs associated with developing a standalone mine, thereby enhancing the economics of gold deposits within trucking distance of the processing facility.
For further information on Goldrush Resources Ltd., shareholders are invited to visit the Company's website at www.goldrushresources.ca.
ON BEHALF OF THE BOARD OF DIRECTORS,
GOLDRUSH RESOURCES LTD.
Len Brownlie - President
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Goldrush Resources Ltd.
Vice-President Corporate Development
Goldrush Resources Ltd.
(604) 681-5910 (FAX)
Goldrush Resources Ltd.