Gold Reach Resources Ltd

Published : September 29th, 2008

Announces Indicated and Inferred Mineral Resource on the 100% Owned Seel Project

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Gold Reach Resources Ltd.

Gold Reach Resources Ltd. Announces Indicated and Inferred Mineral Resource
on the 100% owned Seel Project.

September 29, 2008

September 29th 2008 Vancouver, British Columbia: Gold Reach Resources Ltd. (�Company�) (GRH: TSX-V) announces that Wardrop Engineering of Vancouver has completed an estimate of the indicated and inferred mineral resources on the Seel Property. The project is located 120 kilometres south of Houston, B.C and eight kilometres east of the producing copper-molybdenum Huckleberry Mine.

The estimates are based on a total of 63 diamond drill holes representing 13064 metres of core drilling. All sixty three infill and step out drill holes were completed by the Company during the 2004 to 2008 field seasons.

The mineral resource estimate was prepared by Thomas C. Stubens, P.Eng., Senior Geologist, Wardrop Engineering Inc., who is a Qualified Person as defined by National Instrument 43-101.  Mr. Stubens has reviewed and approved the contents of this news release.

The estimate was generated using Datamine 3 dimensional block modeling software, to interpolate Copper, Gold, Molybdenum and Silver grades using inverse distance squared weighting (ID2). Search radii of 75 and 150 meters for indicated and inferred categories respectively were used and a uniform specific gravity of 2.60 (t/m3) was assumed throughout the bedrock portions of the block model.  Wardrop reported the Seel Inferred and Indicated Mineral Resource using a copper equivalent cut-off.

Seel Mineral Resource Estimate � August 2008

CuEq (%)
Cut-off

Resource
Category

Tonnes (x1000)

Cu
(%)

Au
(g/t)

Mo
(%)

Ag
(g/t)

CuEq
(%)

0.25

Indicated

20,491

0.26

0.25

0.008

0.95

0.37

0.25

Inferred

23,384

0.18

0.10

0.016

2.71

0.33

 

 

 

 

 

 

 

 

0.30

Indicated

13,864

0.30

0.30

0.007

1.04

0.41

0.30

Inferred

12,945

0.20

0.11

0.019

3.35

0.38

The copper equivalent calculation uses a four year average metal price of $2.67 US/lb for copper, $614 US/oz for gold, $29.20 US/lb for molybdenum and $11.35 US/oz silver and assumes an 87% recovery for copper and 80% recovery for gold, molybdenum and silver.
The Seel resource estimate comprises three adjacent and likely related zones of porphyry and breccia style mineralization known as the Cu-Au zone, the Cu-Mo zone and the Seel Breccia. A detailed break-down of the resources in the individual zones is summarized below:

Seel Mineral Resource Estimate � August 2008
(0.30% copper equivalent cut-off)

Zone

Resource
Category

Tonnes (x1000)

Cu
(%)

Au
(g/t)

Mo
(%)

Ag
(g/t)

CuEq
(%)

Cu-Au

Indicated

10,522

0.35

0.37

0.002

1.18

0.42

Cu-Mo

Indicated

3,342

0.15

0.10

0.025

0.57

0.30

Seel Breccia

Indicated

 

 

 

 

 

 

Total

Indicated

13,864

0.30

0.30

0.007

1.04

0.41

 

 

 

 

 

 

 

 

Cu-Au

Inferred

482

0.29

0.29

0.003

0.71

0.36

Cu-Mo

Inferred

12,091

0.18

0.10

0.020

2.97

0.38

Seel Breccia

Inferred

372

0.66

0.05

0.001

19.13

0.69

Total

Inferred

12,945

0.20

0.11

0.019

3.35

0.38

In addition to the Seel resource estimate, Wardrop recently estimated an Inferred resource at the Company�s 100% owned Ox Lake project of 16.1 million tonnes, grading 0.30% copper and 0.04% molybdenum. The Ox Lake deposit is located 3.7 kilometers northwest of the Seel deposit. For specific details on the Ox Lake resource, please refer to the Company news release dated February 5, 2008.

The Company is now the sole owner of the 17,149 hectare property which includes both the OX Lake and Seel deposits. Gold Reach President Conrad Swanson said �Considering that only 10% of our land holdings have been systematically explored for porphyry style copper gold and molybdenum mineralization. I believe the property holds potential for   finding additional resources.�

The Gold Reach drilling programs were carried out under the supervision of Derrick Strickland, P. Geo., who is a Qualified Person as defined by National Instrument 43-101.  Mr Strickland has reviewed and approved the contents of this news release.

About Gold Reach:

Gold Reach Resources Ltd. is a Canadian exploration company actively involved in the development of the Seel and Ox Lake projects, a 17,149.5 hectare copper-gold-molybdenum-silver project located 120 kilometres south of Houston, BC and eight kilometres east of the producing copper-molybdenum Huckleberry Mine.

ON BEHALF OF THE BOARD OF DIRECTORS

Conrad Swanson, President

For further information, please contact:

Gold Reach Resources
Telephone: 604-718-5454
Toll Free: 888-500-4587
Web: http://www.goldreachresources.com

Safe Harbour Statement: The Company relies upon litigation protection for �forward-looking statements.�

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

 

.

Gold Reach Resources Ltd

EXPLORATION STAGE
CODE : GRV.V
ISIN : CA3806863039
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Contact Cpy

Gold Reach Res. Ltd is a gold exploration company based in Canada.

Gold Reach Res. Ltd holds various exploration projects in Canada.

Its main exploration properties are AURO, OX LAKE and SEEL in Canada.

Gold Reach Res. Ltd is listed in Canada. Its market capitalisation is CA$ 12.0 millions as of today (US$ 9.5 millions, € 7.7 millions).

Its stock quote reached its lowest recent point on December 19, 2008 at CA$ 0.02, and its highest recent level on June 22, 2012 at CA$ 2.13.

Gold Reach Res. Ltd has 46 980 000 shares outstanding.

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