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Dear Eric,
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September 3,
2008
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Not for Distribution to U.S. Newswire Services
or for Dissemination in the United States
For Immediate
Release
September 3, 2008
Trading Symbol: GBK - TSX-V
NEWS
RELEASE
Goldbrook Discovers Ni-Cu-PGE Sulphide zone at Mystery
DDH MYS08-003 intersects 131
metres of 0.81% Ni, 0.87% Cu and 3.01g/t PGE+Au
Vancouver,
British Columbia - Goldbrook Ventures Inc. ("Goldbrook") is
pleased to announce the first results from its 2008 Raglan project
diamond drilling program. The company contracted three drill rigs
from Bradley-Nuvumiut (Rouyn-Noranda) for a minimum of 12,000 metres of
BQ-size core. The program also includes geological mapping,
prospecting and an extensive remote sensing survey. Field crews
mobilized to the Belanger base camp in early July. As of the end of
August a total of 31 holes totaling about 7,167 metres had been
completed.
Mystery Prospect
As of the end of
August Goldbrook completed 19 drill holes totaling about 4,524 metres on
the Mystery prospect. These holes are drilled on six vertical
sections along a strike length of over 200 metres. This release
reports lab assay data for the first four drillholes, three on one
section and one drillhole on a section 50 metres to the east. All
19 of these drillholes have intersected sulphide mineralization which has
been sampled for assay. These samples have been submitted to ALS
Chemex in Vancouver and further assays are pending. The first three
Mystery drillholes reported are on Section 490800 East (see Goldbrook website for this section),
and were drilled below MYS07-001 and MYS07-002 (see press release
November 27, 2007).
Drilling to date
indicates the potential for a major new Ni-Cu-PGE sulphide zone at
Mystery which is about 10 kilometres west of Goldbrook's Getty-Sylvie
deposits. The
Mystery drill program is focused on testing an extensive, coincident EM
and magnetic response from a 2007 airborne geophysical VTEM survey, and a
very strong downhole EM anomaly obtained during the 2007 drill program.
The mineralization has been tested to a depth in excess of 250 metres
below surface and remains open to both the east and west of the current
drill pattern.
Highlights of
the Mystery drilling to date include:
- MYS08-001, at -52 degrees,
intersected 35-40% net-textured sulphides over 73.4 metres from 78.6 to 152 metres
downhole, with an average grade of 0.67% Ni, 0.71% Cu and 2.12 g/t
PGE+Au; and, a second 4-metre intersection from 161
to 165 metres downhole with an average grade of 0.47% Ni, 0.45% Cu
and 1.12 g/t PGE+Au. Drillhole ended in sediments at 185
metres.
- MYS08-003, at -64 degrees, intersected 131 metres of semi-massive to
massive sulphides from 78 to 209 metres with an average grade of
0.81% Ni, 0.87% Cu and 3.01 g/t PGE+Au. This
intersection includes a zone (1a-1) of 49 metres from 88 to 137.9
metres with an average grade of 0.95% Ni, 0.81% Cu and 3.89 g/t
PGE+Au; and a 10.9 metre zone (1a-2) from 127 to 137.9 metres with
an average grade of 1.24%Ni, 0.62% Cu and 3.93 g/t PGE+Au. Hole 003
also contains a second, 20 metre intersection from 229 to 249 metres
with an average grade of 0.68% Ni, 0.79% Cu and 2.52 g/t PGE+Au. In
addition a third intersection of 9.3 metres was encountered from 265
to 274.3 metres with an average grade of 0.60% Ni, 0.50% Cu and 1.22
g/t PGE+Au. In total drillhole MYS08-003 intersected 160.3 metres of
Ni-Cu-PGE sulphides grading 0.60% Ni or better. Drillhole
ended in sediments at 300 metres.
- MYS08-002, at -75 degrees,
intersected 35-40% net-textured sulphides over 6 metres from 78 to
84 metres downhole, with an average grade of 0.61% Ni, 0.58% Cu and
1.81 g/t PGE+Au; and a second 13-metre
intersection from 98 to 111 metres downhole with an average grade of
0.77% Ni, 0.61% Cu and 2.80 g/t PGE+Au. Drillhole
ended in sediments at 288 metres.
MYS08-004 was drilled at -46 degrees on
Section 490850 East, 50 metres east of the first drillholes, to trace the
discovery to the east.
MYS08-004 intersected net-textured
sulphides over 1.9 metres from 43.1 to 45 metres downhole, with an
average grade of 0.68% Ni, 0.70 %Cu and 1.53 g/t PGE+Au; and a second 40-metre intersection from 131 to 171 metres
downhole with an average grade of 0.54% Ni, 0.65% Cu and 1.71 g/t PGE+Au.
This later intersection includes a 17.5-metre intersection from 145 to
162.5 metres downhole with an average grade of 0.78%Ni, 1.10% Cu and 2.39
g/t PGE+Au. Of interest is a third intersection of 8.3 metres, which is
near surface but contains high copper and PGE values, from 13.7 to 22
metres downhole with an average grade of 0.18%Ni, 2.12%Cu and 2.12 g/t
PGE+Au. Drillhole ended in sediments at 201 metres.
Other Drilling and Exploration Work
- In addition, to the end of
August, Goldbrook has drilled 12 holes on Sylvie and other targets
along the Belanger trend totaling about 2,643 metres. Samples from
these holes have also been submitted to ALS Chemex in Vancouver and
assays are pending.
Jilin Jien
Nickel Joint Venture Agreement
Goldbrook Ventures has
announced (see press release of August 29, 2008) that it has entered into
a definitive agreement with Jilin Jien Nickel Industry Co., Ltd. of
Panshi, Jilin China for the exploration and development of Goldbrook's
Raglan District properties comprising some 891,000 acres in northern
Quebec. Jien may earn a 50% interest in the property by providing funding
of $45 million over three years for exploration on the property, plus any
funds rebated
by the government for
expenditures during the first two years. Upon Jien acquiring a 50%
interest, any government rebate from exploration in the third year will
be applied to a fourth year work program and other costs will be funded
50% by Jien and 50% by Goldbrook.
Summary
The 2008 exploration
program is focusing on developing new Ni-Cu-PGE sulphide targets,
particularly along the Belanger and related trends, as part of the longer
term exploration objectives of the company. Continued drilling of
the new Mystery zone discovery to define the tenor and extent of the new
sulphide intersections is a very high priority for the balance of the
2008 drilling season. Further assay results will be released as
they become available.
Brian Grant, PGeo, and
G. Carter, PGeo, Vancouver, are qualified persons as defined by
National Instrument 43-101 and have reviewed and verified the information
contained and are responsible for the technical content of this press
release.
ON BEHALF OF
THE BOARD:
(signed) "Brian Grant, PGeo" President
and COO
For Further
Information, please contact: (604) 683-8083
Website: www.goldbrookventures.com
This news release
does not constitute an offer to sell or a solicitation of an offer to buy
any of the securities in the United States. The securities have not
been and will not be registered under the United States Securities Act of
1933, as amended (the "U.S. Securities Act") or any state
securities laws and may not be offered or sold within the United States
or to U.S. Persons unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such registration
is available.
This press
release contains "forward-looking information" that is based on
Goldbrook's current expectations, estimates, forecasts and
projections. This forward-looking information includes, among other
things, statements with respect to Goldbrook's mineral discoveries,
plans, outlook and business strategy. The words "may",
"would", "could", "should",
"will", "likely", "expect,"
"anticipate," "intend", "estimate",
"plan", "forecast", "project" and
"believe" or other similar words and phrases are intended to
identify forward-looking information.
Forward-looking
information is subject to known and unknown risks, uncertainties and
other factors that may cause Goldbrook's actual results, level of
activity, performance or achievements to be materially different from
those expressed or implied by such forward-looking information.
Such factors include, but are not limited to: uncertainties related to
drilling results; the ability to raise sufficient capital to fund
exploration; changes in economic conditions or financial markets; changes
in prices for Goldbrook's mineral products or increases in input costs;
litigation, legislative, environmental and other judicial, regulatory,
political and competitive developments; technological or operational
difficulties or inability to obtain permits encountered in connection
with exploration activities; and labour relations matters.
This list is not
exhaustive of the factors that may affect our forward-looking
information. These and other factors should be considered carefully
and readers should not place undue reliance on such forward-looking
information. Goldbrook disclaims any intention or obligation to
update or revise forward-looking information, whether as a result of new
information, future events or otherwise.
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THE CONTENT OF THIS PRESS RELEASE.
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