Not for Distribution to U.S. Newswire Services or for Dissemination in the United States
For Immediate Release March 24, 2010 Trading Symbol: GBK - TSX-V
Goldbrook Receives Additional Funding for 2010 Exploration Program
Vancouver, British Columbia - Goldbrook Ventures Inc. ("Goldbrook") is pleased to announce that ithas received additional funding of $3,500,000 for the 2010 exploration program from Jilin Jien NickelIn dustry Co., Ltd. of Panshi, Jilin, China ("Jilin Jien"). Goldbrook has now received a total of $6,500,000 for the 2010 exploration program from Jilin Jien. The $6,500,000 funded by Jilin Jien to date is the initial instalment of exploration program funding from Jilin Jien in 2010, which is planned to be $17,500,000 plus received government rebates. Goldbrook is not required to raise any money in order to fund the planned 2010 exploration program.
This year's planned exploration program will include up to 25,000 metres of Diamond drilling in addition to a regional mapping program, geochemical surveys and ground geophysical surveys. This program will follow-up on the highly successful previous programs of the last several years, which resulted in discoveries of extensive nickel sulphides at the Mystery and Timtu zones and other priority drill targets across the property. The program will also test new and positive results from previous geophysical, geological, remote sensing and other work to better define the Ni-Cu-Co-PGE sulphide potential within Goldbrook's extensive Raglan Nickel Belt property holdings.
About Goldbrook
Goldbrook Ventures is engaged in the exploration for Nickel-Copper-Platinum Group Element sulphide deposits - a class of mineral deposit that, due to its poly-metallic nature, has the advantage of protection against individual metal price cycles and has strong long term supply-demand fundamentals. Goldbrook's quest for discovery is focused in the Raglan District of Northern Quebec, a district that hosts Xstrata's Raglan operations, arguably one of the world's most profitable nickel-copper-PGE mines. Goldbrook is the District's single largest holder of mineral rights, with a 100% interest in 861,000 acres. Goldbrook also owns 25% of the voting shares of Jien Canada Mining Ltd. ("Jien Canada"). Jien Canada successfully acquired Canadian Royalties Inc., the owner of the nickel-copper-cobalt-platinumpalladium-gold deposits in the Raglan mining district which collectively form the Nunavik Nickel Project.
ON BEHALF OF THE GOLDBROOK BOARD:
(signed) "David Baker," Chairman and CEO
For Further Information Please Contact: Telephone: 604 683 8083 Email: info@goldbrookventures.com
Suite 1550 - 200 Burrard Street, Vancouver, British Columbia, Canada V6C 3L6 T: (604) 683-8083 F: (604) 683-8087 TF: 1-888-488-9884 www.goldbrookventures.com TSX.V:GBK
Cautionary Note Regarding Forward-Looking Statements
Certain of the statements made herein may contain forward-looking statements or information within the meaning of Canadian securities laws and the applicable securities laws of the United States. Such forwardlooking statements or information include, but are not limited to, statements or information with respect toGoldbrook's plan for future exploration and development of its properties.Forward-looking statements or information are based on a number of estimates and assumptions and aresubject to a variety of risks and uncertainties, which could cause actual events or results to differ from thosereflected in the forward-looking statements or information. Should one or more of these risks and uncertaintiesmaterialize, or should underlying estimates and assumptions prove incorrect, actual results may varymaterially from those described in forward looking statements or information. Factors related to such risks anduncertainties, and underly ing estimates and assumptions include, among others, the following: the ability ofGoldbrook to advance development of its properties; price volatility of nickel and other metals; impact of anyhedging activities, including margin limits and margin calls; discrepancies between actual and estimatedproduction, between actual and estimated resources, and between actual and estimated metallurgicalrecoveries; mining operational risk; regulatory restrictions, including environmental regulatory restrictionsand liability; risks of sovereign investment; speculative nature of mineral exploration; defective title to mineralclaims or property, litigation, legislative, environmental and other judicial, regulatory, political andcompetitive developments; technological or operational difficulties or inability to obtain permits encounteredin connection with exploration activities; and labour relations matters. Accordingly, undue reliance should notbe placed on forward looking statements or inf ormation. We do not expect to update forward-lookingstatements or information continually as conditions change, except as may be required by law.Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies ofthe TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. |